G
GEN Restaurant Group, Inc.
Period
FY 2025
Revenue
$212.54M
Net Income
$-3.03M
Total Assets
$259.86M
Equity
$26.51M
Shares Out
—
Op. Cash Flow
$3.41M
Business
GEN Inc. operates one of the largest Asian casual dining restaurant concepts by total revenue in the United States, specializing in Korean and Korean-American cuisine. The company operates 57 company-owned restaurants featuring a distinctive "cook-it-yourself" model with embedded table grills, an unlimited food offering at fixed prices, and minimal kitchen staffing. GEN has expanded geographically across 12 U.S. states and South Korea, and in 2025 began offering ready-to-cook meals through partnerships with grocery stores. The company also selectively pursues wholesale opportunities with national food retailers.
Summary from 10-K filed 2026-03-31
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Revenue | 213 | 208 | 181 | 164 | |
| Food cost | 74 | 69 | 58 | 54 | |
| Payroll and benefits | 65 | 64 | 57 | 49 | |
| Occupancy expenses | 21 | 18 | 15 | 12 | |
| Operating expenses | 24 | 22 | 18 | 15 | |
| Depreciation and amortization | 9 | 7 | 5 | — | |
| Pre-opening costs | 8 | 8 | 4 | 2 | |
| Total restaurant operating expenses | 201 | 186 | 156 | 136 | |
| General and administrative | 26 | 21 | 13 | 8 | |
| Impairment expense | 6 | — | — | — | |
| Depreciation and amortization - corporate | 158,000 | 122,000 | 84,000 | 39,000 | |
| (Gain) loss on lease terminations | −471,000 | 0 | — | — | |
| Total costs and expenses | 233 | 208 | 173 | 151 | |
| (Loss) income from operations | −20 | 476,000 | 8 | 12 | |
| Employee retention credits | 313,000 | 199,000 | 3 | 4 | |
| Gain on remeasurement of previously held interest (see Note 3) | 0 | 3 | — | — | |
| Other loss | −346,000 | 0 | — | — | |
| Loss on foreign currency | −47,000 | 0 | — | — | |
| Interest (expense) income, net | −232,000 | 829,000 | 347,000 | −634,000 | |
| Equity in loss of equity method investee | 0 | −17,000 | 535,000 | 966,000 | |
| Net (loss) income before income taxes | −20 | 5 | 11 | 12 | |
| (Benefit) provision for income taxes | −930,000 | 357,000 | 21,000 | — | |
| Net (loss) income | −19 | 5 | 11 | 12 | |
| Less: Net (loss) income attributable to non-controlling interest | −16 | 4 | 3 | 1 | |
| Net income attributable to GEN Restaurant Group, Inc. | −3 | 592,000 | 8 | 10 | |
| Net (loss) income attributable to Class A common stock per share - basic | −3 | 592,000 | 324,000 | — | |
| Net (loss) income attributable to Class A common stock per share - diluted | −3 | 592,000 | 324,000 | — | |
| Weighted-average shares of Class A common stock outstanding - basic | 5 | 5 | 4 | — | |
| Weighted-average shares of Class A common stock outstanding - diluted | 5 | 5 | 4 | — | |
| Net (loss) income per share of Class A common stock - basic | −0.59 | 0.13 | 0.08 | — | |
| Net (loss) income per share of Class A common stock - diluted | −0.59 | 0.13 | 0.08 | — | |
| Foreign currency translation adjustment | 7,000 | 0 | — | — | |
| Comprehensive (loss) income | −19 | 5 | — | — | |
| Less: Comprehensive (loss) income attributable to non-controlling interest | −16 | 4 | — | — | |
| Comprehensive (loss) income attributable to GEN Restaurant Group, Inc. | −3 | 592,000 | — | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 3 | 24 | 33 | 11 | — | |
| Inventories | 1 | 727,000 | 461,000 | 3 | — | |
| Accounts receivable | 10 | 4 | 0 | — | — | |
| Income tax receivable | 742,000 | 0 | — | — | — | |
| Prepaid expenses and other current assets | 8 | 6 | 4 | 994,000 | — | |
| Total current assets | 23 | 34 | 37 | 15 | — | |
| Property and equipment, net | 66 | 53 | 34 | 21 | — | |
| Goodwill | 9 | 9 | 0 | — | — | |
| Operating lease assets | 146 | 132 | 99 | 91 | — | |
| Deferred tax asset | 13 | 12 | 13 | — | — | |
| Other assets | 2 | 1 | 749,000 | 683,000 | — | |
| Total assets | 260 | 240 | 184 | 139 | — | |
| Accounts payable | 15 | 12 | 11 | 7 | — | |
| Accrued salaries and benefits | 2 | 3 | 3 | 2 | — | |
| Accrued interest | 77,000 | 60,000 | 42,000 | 175,000 | — | |
| Notes payable, current | 3 | 2 | — | — | — | |
| Line of credit | 1 | 3 | 0 | 7 | — | |
| Obligations under finance leases, current | 8,000 | 26,000 | 125,000 | 134,000 | — | |
| Operating lease liabilities, current | 7 | 5 | 5 | 4 | — | |
| Deferred Restaurant Revitalization Fund grant | 4 | 4 | 4 | 4 | — | |
| Gift card liabilities | 15 | 6 | — | — | — | |
| Other current liabilities | 8 | 6 | 5 | 5 | — | |
| Total current liabilities | 54 | 41 | 31 | 37 | — | |
| Notes payable, net of current portion | 11 | 5 | — | — | — | |
| Tax receivable agreement liability | 1 | 691,000 | 0 | — | — | |
| Obligations under finance leases, net of current | 14,000 | 0 | 1,000 | 185,000 | — | |
| Operating lease liabilities, net of current portion | 166 | 148 | 111 | 101 | — | |
| Total liabilities | 232 | 195 | 146 | 144 | — | |
| Commitments and contingencies (Note 11) | — | — | — | — | — | |
| EB-5 Members' equity; Redeemable units for 30% of Gen Restaurant Investment, LLC, redemption amount of $1,500 as of December 31, 2025 and December 31, 2024. | 2 | 2 | 2 | 2 | — | |
| Additional paid-in capital | 15 | 12 | 7 | — | — | |
| Accumulated other comprehensive income | 7,000 | 0 | — | — | — | |
| Retained Earnings (accumulated deficit) | −2 | 915,000 | 322,000 | −10 | — | |
| Non-controlling interest | 14 | 31 | 29 | 3 | — | |
| Treasury stock | −201,000 | — | — | — | — | |
| Total permanent equity | 27 | 44 | 36 | −7 | 11 | |
| Total liabilities, mezzanine equity, and permanent equity | 260 | 240 | 184 | 139 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Depreciation and amortization | 9 | 7 | 5 | 4 | |
| Equity in income of equity method investee, net of distributions | — | 17,000 | 95,000 | −429,000 | |
| Stock-based compensation | 3 | 3 | 2 | — | |
| Amortization of operating lease assets | 6 | 7 | 5 | 3 | |
| Interest income earned on Notes receivable from related party | — | −33,000 | −150,000 | −164,000 | |
| Deferred tax expense | −914,000 | 333,000 | — | — | |
| Accounts receivable | −7 | −3 | — | — | |
| Inventories | −485,000 | −266,000 | 2 | −1 | |
| Income tax receivable | −742,000 | — | — | — | |
| Prepaid expenses and other current assets | −2 | −3 | −3 | 454,000 | |
| Other assets | −1 | −432,000 | −67,000 | −19,000 | |
| Accounts payable | 2 | 730,000 | 3 | 2 | |
| Accrued salaries and benefits | −703,000 | 583,000 | 684,000 | 509,000 | |
| Accrued interest | 18,000 | 18,000 | −133,000 | −86,000 | |
| Gift card liabilities | 9 | 6 | — | — | |
| Other current liabilities | 2 | 221,000 | −228,000 | 2 | |
| Operating lease liabilities | −1 | −1 | −3 | −1 | |
| Net cash provided by operating activities | 3 | 18 | 22 | 23 | |
| Purchase of property and equipment | −28 | −24 | −17 | −8 | |
| Acquisition of GKBH, net of cash acquired | — | −3 | — | — | |
| Net cash used in investing activities | −28 | −27 | −6 | 3 | |
| Payments to members for advances | — | −881,000 | −2 | — | |
| Payments on EIDL loans | −98,000 | −90,000 | −87,000 | — | |
| Payments on finance leases | −3,000 | −100,000 | −194,000 | −207,000 | |
| Payments on third party loans | −3 | −4 | −2 | −509,000 | |
| Payments on related party loans | — | −296,000 | −2 | −8 | |
| Payment on line of credit | −11 | — | −8 | −1 | |
| Proceeds from line of credit | 9 | 3 | 1 | 8 | |
| Proceeds from third party loans | 10 | 3 | 1 | — | |
| Payments under stock repurchase plan | −201,000 | — | — | — | |
| Distributions paid on NCI | −830,000 | −845,000 | — | — | |
| Dividends paid on common stock | −157,000 | — | — | — | |
| Acquisition of common stock for tax with withholding obligations | −90,000 | — | — | — | |
| Net provided by financing activities | 3 | 18,000 | 6 | −25 | |
| Effects of exchange rate changes on cash | 7,000 | — | — | — | |
| Net change in cash and cash equivalents | −21 | −9 | — | — | |
| Cash paid for interest | 250,000 | 288,000 | 195,000 | 736,000 | |
| Cash paid for taxes | 455,000 | 114,000 | 175,000 | — | |
| Reduction in accounts payable and accruals for purchases of property and equipment | 143,000 | 2 | — | — | |
| Leased assets obtained in exchange for new operating lease liabilities | 22 | 39 | 13 | 92 | |
| Reduction due to early lease termination of operating lease asset | −1 | — | — | — | |
| Conversion of related party loans to equity | — | 1 | 871,000 | — | |
| Issuance of promissory note for business acquisition | — | 3 | — | — | |
| Adjustments to tax liabilities and assets under TRA | 9,000 | — | — | — | |
| Exchange of NCI for Class A common stock | 226,000 | — | — | — | |
| Contribution by stockholder in final IPO settlement | — | 1 | — | — |
Filings
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Frequently asked questions
What is GEN Restaurant Group, Inc.'s CIK number?
GEN Restaurant Group, Inc.'s SEC CIK number is 0001891856 (1891856). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find GEN Restaurant Group, Inc.'s SEC filings?
All of GEN Restaurant Group, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did GEN Restaurant Group, Inc. last report earnings?
GEN Restaurant Group, Inc. (GENK) most recently filed an earnings 8-K with the SEC on May 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-223971). This is GEN Restaurant Group, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is GEN Restaurant Group, Inc.'s most recent earnings 8-K?
GEN Restaurant Group, Inc.'s latest earnings 8-K (Item 2.02) was filed May 14, 2026 under accession 0001193125-26-223971. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View GEN Restaurant Group, Inc.'s latest earnings 8-K →
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