Monday, November 09, 2026
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Overview. The ONE Group’s third-quarter 2026 operating results demonstrate the meaningful progress management has made in strengthening the financial performance of the Company. ONE Group delivered positive transaction growth, while significantly improving operating income and expanding restaurant-level margins. These results reflect the effectiveness of operational initiatives, the strength of the differentiated restaurant brands, and the disciplined execution of management’s strategic priorities, in our view.
3Q26 Results. Revenue came in at $177 million, modestly down from $180.2 million in 3Q25. We had forecast $176 million. Adjusted EBITDA increased 5% to $11.1 million. We were at $13.8 million. The ONE Group reported a net loss, including preferred dividends, of $26.5 million, or a loss of $0.79/sh, versus a loss of $85.3 million, or a loss of $2.59/sh, in 3Q25. We were at a net loss of $0.52/sh.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.