The ONE Group Hospitality (STKS) Noble Capital Markets June 2026 Emerging Growth Virtual Equity Conference summary

Strategic positioning and brand differentiation

• Focus on experiential dining, entertainment, and highly differentiated guest experiences across all brands.

• Emphasis on operational excellence, advanced digital marketing, and craveable, Instagrammable food and beverage programs.

• Iconic, timeless brands with a global footprint of 158 venues in 31 states and 11 countries.

Financial performance and guidance

• Achieved sequential same-store sales growth in Q1 2026, with STK up 1.4% and Benihana flat; positive momentum continued into Q2.

• 2026 guidance projects 1%-3% same-store sales growth, with total revenue expected at $847.5 million and adjusted EBITDA at $105 million.

• Cost of goods improved to 19.4% in Q1, operating income up 30%, and adjusted EBITDA up 12% year-over-year.

Conversion and asset-light growth strategy

• Conversion of underperforming units, such as RA Sushi to STK, led to significant sales increases; five temporarily closed Grills to reopen as Benihana or STK in 2026.

• Focus on asset-light expansion through franchising and licensing, especially for Benihana and STK, with new deals in California and Florida.

• CapEx reduced from $51.3 million in 2025 to $40 million in 2026, supporting capital-efficient growth.