Yoshiharu Global Co. reported financial results for the quarter ended September 30, 2024, with revenues reaching $9.1 million, a 36.3% increase from the previous year, primarily driven by the acquisition of three new Las Vegas restaurants. The company's restaurant operating expenses rose to $8.7 million, up 33.2% year-on-year, while labor costs increased by 31.8% to $4.1 million. Rent and utilities expenses also saw a significant rise of 50.3%. Despite these increases, Yoshiharu achieved a net restaurant operating income of $406,170, a substantial improvement from the previous year's $146,269. General and administrative expenses were controlled, resulting in a decrease in percentage of sales from 40.2% to 32.2%. The company's net loss widened slightly to $3.2 million, compared to $3.0 million in the previous year. Yoshiharu's management is focused on expansion...Show More

Yoshiharu Global Co. reported financial results for the quarter ended September 30, 2024, with revenues reaching $9.1 million, a 36.3% increase from the previous year, primarily driven by the acquisition of three new Las Vegas restaurants. The company's restaurant operating expenses rose to $8.7 million, up 33.2% year-on-year, while labor costs increased by 31.8% to $4.1 million. Rent and utilities expenses also saw a significant rise of 50.3%. Despite these increases, Yoshiharu achieved a net restaurant operating income of $406,170, a substantial improvement from the previous year's $146,269. General and administrative expenses were controlled, resulting in a decrease in percentage of sales from 40.2% to 32.2%. The company's net loss widened slightly to $3.2 million, compared to $3.0 million in the previous year. Yoshiharu's management is focused on expansion, with plans to open additional restaurants and increase brand awareness. The company is also exploring new initiatives such as a sake bar concept and partnerships with grocery retailers for Yoshiharu kiosks. Yoshiharu's liquidity is supported by cash flows from operations and a recent $1 million private placement investment aimed at funding expansion into the Korean BBQ segment.