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Yoshiharu Global Co. (YOSH-6.10%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenue of $12.8 million, an increase from $9.2 million the previous year. This growth was primarily driven by the acquisition of three restaurants in Las Vegas and the opening of two new restaurants.
Operating expenses increased to $4.0 million, up from $3.8 million in the previous year. The increase was attributed to the expansion activities, including new restaurant openings and acquisitions.
The company reported a net loss of $2.7 million, compared to a net loss of $3.0 million in the previous year. The reduction in net loss was due to increased revenue and operational efficiencies.
Yoshiharu's balance sheet shows total assets of $17.6 million, with liabilities amounting to $17.3 million. The company has a working capital of $1.5 million.
The filing highlights the company's growth strategies, including new restaurant development, consistent sales growth, and increased profitability. The company plans to expand its restaurant base and explore franchise opportunities.
Supply chain disruptions and inflation are noted as potential risks, with the company experiencing higher costs due to increased commodity prices and challenges in sourcing supplies.
Yoshiharu's management team is led by CEO James Chae, who founded the company in 2016. The company operates 15 restaurants, primarily in California, with plans for further expansion.
The company has received notifications from Nasdaq regarding its failure to meet stockholder equity requirements, with a hearing scheduled for April 1, 2025, to address the compliance plan.
The filing outlines various financial agreements, including a securities purchase agreement with Crom Structured Opportunities Fund I, LP, and private placements for additional capital.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Yoshiharu Global Co. annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.