Filing Flows › ONE Group Hospitality (STKS) › Q3 2025
ONE Group Hospitality (STKS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
ONE Group Hospitality (STKS) reported revenue of $180M for the third quarter 2025 (Q3 2025), -7% from a year earlier and -13% from the quarter before. Operating margin was -4.4%, net loss $77.5M (43.0% of revenue).
ONE Group Hospitality, Q3 2025: revenue $180M (-7% year over year), operating margin -4.4%, net loss $77.5M, operating cash flow $5.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $180M | -13% | -7% |
| Operating profit | −$7.9M | -1289% | — |
| Net earnings | −$77.5M | — | — |
| Operating cash flow | $5.9M | +111% | -69% |
What changed
Revenue was $180.2M in Q3 2025, down 7% year over year and down 13% from the previous quarter.
Operating costs exceeded revenue by $7.9M, an operating margin of -4.4%. Total costs fell 5% while revenue fell 7%. The quarter ended with a net loss of $77.5M, wider than the previous quarter's $10.3M loss. Minority interests bore $757K of it: to shareholders the quarter was a loss of $76.7M.
Operating cash flow was $5.9M (down 69% year over year). Non-cash charges added back $11.5M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items added $70.6M. Capital expenditures of $12.0M exceeded it, leaving free cash flow of −$6.1M.
Questions
What was ONE Group Hospitality's revenue in the third quarter 2025?
ONE Group Hospitality (STKS) reported revenue of $180M for the third quarter 2025 (Q3 2025), -7% from a year earlier and -13% from the quarter before.
Was ONE Group Hospitality profitable in the third quarter 2025?
Operating loss was $7.9M (-4.4% of revenue) and net loss $77.5M.