Yoshiharu Global Co. reported its financial results for the third quarter ended September 30, 2024, on November 19, 2024. Revenues increased by 48.9% to $3.0 million, up from $2.0 million in the prior-year period, primarily driven by the acquisition of three new Las Vegas restaurants in April 2024.
For the nine months ended September 30, 2024, revenues increased by 36.3% to $9.2 million compared to $6.7 million in the prior year. Restaurant-level contribution margin improved to 11.0% from 8.1% in the prior period, reflecting management efforts to control costs.
Despite revenue growth, the company's operating loss increased to $1.0 million from $0.8 million in the prior-year quarter, and the net loss widened to $1.2 million from $0.9 million. This was primarily due to higher general and administrative expenses following the Las Vegas acquisitions.
As of September 30, 2024, Yoshiharu's cash balance totaled $1.7 million. The company highlighted recent operational milestones including the grand opening of its 15th location in San Clemente, CA, and new strategic partnerships for international expansion in China, alongside its entry into the Korean BBQ segment.
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