Gen Restaurant Group Inc — 8-K exhibit

Exhibit 99.1

GEN Restaurant Group Announces Third Quarter 2025 Financial Results

CERRITOS, CA, November 7, 2025 - GEN Restaurant Group, Inc. (“GEN” or the “Company”) (Nasdaq: GENK), owner of GEN Korean BBQ, a fast-growing casual dining concept with an extensive menu and signature “grill at your table” experience, is announcing financial results for the third quarter ended September 30, 2025.

Third Quarter 2025 Financial and Recent Operational Highlights

(1) Adjusted EBITDA, restaurant-level adjusted EBITDA, restaurant-level adjusted EBITDA margin, and adjusted net income are non-GAAP measures. For reconciliations of adjusted EBITDA, restaurant-level adjusted EBITDA, restaurant-level adjusted EBITDA margin, and adjusted net income to the most directly comparable GAAP measure see the accompanying financial tables. For definitions and a discussion of why we consider them useful, see “Non-GAAP Measures” below.

Management Commentary

“The third quarter continued to be a very challenging environment for the restaurant business. In spite of this, we continue to implement our business plan including opening new stores, continuing to deliver an exceptional service and build our brand recognition. We’re pleased to report the opening of our first six restaurant in South Korea,” said David Kim, Chairman and Chief Executive Officer of GEN. “This launch highlights our ability to expand in other parts of the world and bring our concept to the people of South Korea. Additionally, we will be offering ready-to-cook meats at over 600 grocery stores in California and Hawaii.

“Looking to the remainder of 2025, our development pipeline remains strong, with two more store openings by the end of 2025, and we have exceeded our target of 12 to 13 new restaurants by the end of 2025. With growing brand awareness, and disciplined execution, we remain confident in our ability to drive sustained, profitable growth into 2026 and beyond.”

Third Quarter 2025 Financial Results

Total revenue increased 2.7% to $50.4 million in the third quarter of 2025 compared to $49.1 million in the third quarter of 2024 as a result of 57 restaurants open in the three months ended September 30, 2025 compared to 41 restaurants open in the three months ended September 30, 2024.

Total restaurant operating expenses as a percentage of revenue increased to 95.4% in the third quarter of 2025 from 89.1% in the third quarter of 2024.

Loss from operations was $3.7 million, or 7.4% of revenue, for the third quarter of 2025, compared to income from operations of $88 thousand, or 0.2% of revenue, for the third quarter of 2024. Restaurant-level adjusted EBITDA was $7.6 million, or 15.0% of revenue for the third quarter of 2025, a decrease from 16.3% for the second quarter of 2025.

General and administrative expenses totaled $6.5 million, or 12.8% of revenue, for the third quarter of 2025 and $5.2 million, or 10.6% of revenue, for the third quarter of 2024. For the third quarter of 2025, general and administrative expenses included non-cash stock compensation expenses of $0.7 million, largely reflecting increased personnel required for new restaurant development and additional marketing and legal expenditures. General and administrative expenses in the third quarter remain flat compared to the first and second quarter of 2025.

Net loss before income taxes was $3.9 million, which equated to $(0.11) per basic and diluted share of Class A common stock for the third quarter of 2025, compared to net income before income taxes of $284 thousand, which equates to $0.01 per diluted share of Class A common stock in the third quarter of 2024.

Adjusted EBITDA was $226 thousand for the third quarter of 2025, compared to $3.4 million in the prior year period, primarily due to the $3.6 million net loss in the third quarter of 2025.

As of September 30, 2025, the Company had $4.8 million in cash and cash equivalents. The Company has full access to $20.0 million in total available liquidity.

Non-GAAP Measures

Restaurant-level adjusted EBITDA represents income (loss) from operations plus adjustments to add-back the following expenses: depreciation and amortization, pre-opening costs, general and administrative expenses, and non-cash lease expense. Restaurant-level adjusted EBITDA margin is the calculation of restaurant-level adjusted EBITDA divided by revenue. Management believes that restaurant-level adjusted EBITDA and restaurant-level adjusted EBITDA margin are useful to investors because these measures highlight trends in our core business that may not otherwise be apparent to investors when relying solely on GAAP financial measures and enabling investors to more effectively compare the Company’s performance to prior and future periods.

Adjusted EBITDA represents net income (loss) before net interest expense, income taxes, depreciation and amortization, stock-based compensation expense, employee retention credits, litigation accruals, non-cash lease expenses and non-cash lease expense related to pre-opening costs and gain on remeasurement of previously held interest. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue. Management believes that Adjusted EBITDA and Adjusted EBITDA margin are useful to investors because these measures highlight trends in our core business that may not otherwise be apparent to investors when relying solely on GAAP financial measures and enabling investors to more effectively compare the Company’s performance to prior and future periods.

Adjusted Net Income represents net (loss) income, adjusted for pre-opening costs, gain on remeasurement of previously held interest and non-cash stock-based compensation, and the related tax impact of the adjustments. Adjusted net income per share is defined as adjusted net income divided by the weighted-average number of shares of Class A common stock outstanding for the applicable period. Management believes that adjusted net income and adjusted net income per share are useful to investors because these measures highlight trends in our core business that may not otherwise be apparent to investors when relying solely on GAAP financial measures and enabling investors to more effectively compare the Company’s performance to prior and future periods.

Conference Call

GEN will conduct a conference call today at 5:00 p.m. Eastern time to discuss its financial results for the third quarter 2025 ended September 30, 2025.

Chairman and Chief Executive Officer David Kim and Chief Financial Officer Tom Croal will host the conference call, followed by a question-and-answer session.

Date: Friday, November 7, 2025

Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)

Toll-free dial-in number: 1-800-717-1738

International dial-in number: 1-646-307-1865

Conference ID: 38022

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please call 1-888-562-0262, press 1, prompt 1.

The conference call will be broadcast live via webcast here and available for replay via the investor relations section of the Company’s website at www.genkoreanbbq.com.

A telephonic replay of the conference call will also be available after 8:00 p.m. Eastern Time on the same day through Friday, November 14, 2025.

Toll-free replay number: 1-844-512-2921

International replay number: 1-412-317-6671

Replay ID: 1138022

About GEN Restaurant Group, Inc.

GEN Korean BBQ is one of the largest Asian casual dining restaurant concepts in the United States. Founded in 2011 by two Korean immigrants in Los Angeles, the brand has now grown over 57 company-owned locations where guests serve as their own chefs, preparing meals on embedded grills in the center of each table. The extensive menu consists of traditional Korean and Korean-American food, including high-quality meats, poultry, seafood and mixed vegetables. With its unique culinary experience alongside its modern décor and lively atmosphere, GEN Korean BBQ delivers an engaging and interactive dining experience that appeals to a vast segment of the population. For more information, GenKoreanBBQ.com and follow the brand on Facebook and Instagram.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements may be identified by the use of words such as “believe,” “intend,” “expect”, “will,” “may”, and other similar words or expressions that predict or indicate future events. All statements that are not statements of historical fact are forward-looking statements, including any statements regarding our strategy, future operations, and growth prospects, including expectation relating to the Company’s incubator division, any statements regarding future economic conditions or performance, any statements of belief or expectation, and any statements of assumptions underlying any of the foregoing or other future events. Forward-looking statements are based on current information available at the time the statements are made and on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Additional factors or events that could cause actual results to differ may also emerge from time to time, and it is not possible for the Company to predict all of them. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and in our subsequent filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement

Investor Relations Contact:

Thomas V. Croal

562-356-9929

investor@genbbqoffice.com

GEN RESTAURANT GROUP

Condensed Consolidated Comprehensive Income (Loss) Statements

(in thousands, except per share amounts)

GEN RESTAURANT GROUP

Selected Balance Sheet Data and Selected Operating Data

(in thousands, except restaurants and percentages)

GEN RESTAURANT GROUP

Reconciliation of Net Income to EBITDA and Adjusted EBITDA

(in thousands, except percentages)

Reconciliation of Income from Operations to Restaurant-level Adjusted EBITDA

(in thousands, except percentages; unaudited)

(1) Stock-based compensation expense: During all periods presented, we incurred expenses related to the granting of restricted stock units to employees.

(2) Litigation accrual: This is an accrual in 2025 related to a specific litigation claim.

(3) Employee retention credits: These are refundable credits against certain employment taxes recognized under the CARES Act.

(4) Gain on remeasurement of previously held interest: During the first quarter of 2024, we reported a one-time, non-recurring, gain on the acquisition of GKBH restaurants.

(5) Non-cash lease expense: This reflects the extent to which lease expense is greater than or less than contractual rent paid.

(6) Non-cash lease expense related to pre-opening costs: Costs for restaurants in development in which the lease expense is greater than the contractual rent.

Reconciliation of Net Income to Adjusted Net Income and Adjusted Net Income EPS

(in thousands, except percentages; unaudited)