Transformative Acquisition
The strategic acquisition of Benihana and RA Sushi expanded the portfolio of vibe dining venues, achieving scale and operational efficiencies with $20 million in targeted cost savings by 2026.
Record Revenue Growth
Full year revenue increased over 100% to $672 million, and adjusted EBITDA rose almost 130% to $75.2 million, both at the higher end of 2024 guidance ranges.
Strong Fourth Quarter Performance
Fourth quarter revenues increased by almost 150% to a record $222 million, with adjusted EBITDA also up by nearly 150% to $30.3 million.
Successful Restaurant Openings
Opened three restaurants, including two company-owned units and one managed location, ending the year with six new restaurants.
Solid Financial Position
Over $71 million in liquid resources at year end, with no drawn revolving credit facility.
Culinary and Marketing Innovations
A successful Wagyu program at Benihana and new drink menu launched. Enhanced digital engagement and local store outreach to drive traffic.