0000950170-24-027323 | 10-K | XBRL Viewer

Print Document View Excel Document

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details)		3 Months Ended	4 Months Ended	12 Months Ended
	Jun. 30, 2023 shares	Dec. 31, 2023 USD ($) Restaurants $ / shares	Aug. 31, 2021 USD ($)	Dec. 31, 2023 USD ($) Restaurants $ / shares	Dec. 31, 2022 USD ($) Restaurants	Dec. 31, 2021 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deposits in excess of federally insured amount		$ 8,800,000		$ 8,800,000	$ 3,500,000
Related party ownership percentage				60.00%
Number of restaurants \| Restaurants		37		37	31
Advance from members		$ 7,500,000		$ 7,500,000	$ 4,400,000
Advances from members repaid		4,800,000		4,800,000
Pre-opening costs				$ 3,680,000	1,455,000
Tax benefit				0.19%
Impairment charges		0		$ 0
Advertising expense				187,000	169,000
Restaurant revitalization fund received			$ 16,800,000
Restaurant revitalization fund grant income				0	0	$ 13,000,000
Restaurant revitalization fund grant income deferred						$ 3,800,000
Employee retention credits				2,483,000	$ 3,532,000
Deferred offering costs		$ 0		$ 0
Common Stock
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of stock issued to underwriter as warrant	9.00%
Number of stock converted as warrants \| shares	372,600
Exercise price of warrants \| $ / shares		$ 12		$ 12
IPO
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred offering costs		$ 3,300,000		$ 3,300,000
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Tax benefit				50.00%
U S Foods
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percent of food cost				36.00%	57.60%
Pacific Global Distribution Inc
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating expenses concentration risk percent				16.40%	21.20%
Wise Universal, Inc
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percent of food cost				21.30%	32.50%
Number of restaurants \| Restaurants		13		13
Sysco
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percent of food cost				15.10%
ASU 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]		true		true
Change in Accounting Principle, Accounting Standards Update, Adoption Date		Jan. 31, 2023		Jan. 31, 2023
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]		true		true
ASU 2019-12
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]		true		true
Change in Accounting Principle, Accounting Standards Update, Adoption Date		Jun. 30, 2023		Jun. 30, 2023
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]		true		true

Non-Controlling Interest - Additional Information (Details) - GEN LLC	Dec. 31, 2023
Noncontrolling Interest [Line Items]
Economic interest owned by operating company	12.80%
Economic interest owned by non-controlling interest holders	87.20%

Consolidated Statements of Changes in Permanent Equity (Deficit) - USD ($) $ in Thousands	Total	Class A Common Stock	Class A Common Stock IPO	Class B Common Stock	Redeemable Class B Common Units	Members' equity (deficit)	Common Stock Class A Common Stock	Common Stock Class A Common Stock IPO	Common Stock Class B Common Stock	Common Stock Class B Common Stock IPO	Additional paid-in capital	Additional paid-in capital IPO	Additional paid-in capital Class A Common Stock	Additional paid-in capital Class A Common Stock IPO	Retained Earnings	Non-Controlling Interest
Beginning Balance at Dec. 31, 2021	$ 10,692					$ 8,894										$ 1,798
Contributions	355					355
Distributions	(29,540)					(29,541)
Net income	11,732					10,281										1,451
Ending Balance at Dec. 31, 2022	(6,761)					(10,011)										3,250
Distributions	(26,469)					(26,469)
Net income	11,434	$ 2,526
Net income prior to the organizational transactions	8,911					8,084										827
Conversion of related party loans to equity	871					871
Effects of the organizational transactions	23,448				$ (23,448)	$ 27,525										(4,077)
Issuance of common stock (in shares)		4,140,000		28,141,566				3,600,000,000		28,141,566,000
Issuance of common stock			$ 40,144					$ 3		$ 28		$ (28)		$ 40,141
Issuance of Class A common stock to underwriters upon exercise of overallotment option, Shares							540,000,000
Issuance of Class A common stock to underwriters upon exercise of overallotment option		$ 6,026					$ 1						$ 6,025
Conversion of Class B common units into Class B Shares	(23,447)				$ 23,448						$ (23,447)
Capitalization of initial public offering costs	(3,265)										(3,265)
Establishment of liabilities under tax receivable agreement	12,520										12,520
Net income	2,523														$ 322	2,201
Stock-based compensation	1,517										1,517
NCI adjustment											(26,351)					26,351
Ending Balance at Dec. 31, 2023	$ 36,018						$ 4		$ 28		$ 7,112				$ 322	$ 28,552
Ending Balance, Shares at Dec. 31, 2023							4,140,000,000		28,141,566,000

Line of Credit

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Line of Credit

(8)

Line of Credit

During March 2022 the Company entered into a line of credit for $8.0 million with Pacific City Bank (“PCB”). These funds were used to pay off related party loans payable. The line of credit matured on September 3, 2023, and bore interest at a variable interest rate which was defined as the Wall Street Journal Prime Rate plus 1.75%, resulting in an interest rate of 10.25% on August 16, 2023, when paid in full. Only interest payments were due monthly with the principal balance to be paid in one payment at the maturity date. On August 16, 2023, the Company repaid in full the obligation under the line of credit plus accrued interest of $29 thousand. The balance as of December 31, 2023 and December 31, 2022 was $0 and $6.9 million, respectively.

On September 29, 2023, the Company entered into a new line of credit agreement for $20.0 million with PCB. The line of credit matures on September 25, 2024, and bears interest at a variable rate per annum equal to The Wall Street Journal Prime Rate, plus 0.25% resulting in an initial rate of 8.750%. The balance as of December 31, 2023 was $0. The available balance is $20.0 million at December 31, 2023.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Related Party Notes Payable (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Aggregate Maturities of Notes Payable from Related Parties

The aggregate maturities of notes payable from related parties as of December 31, 2023, are as follows:


(in thousands)	2024	$	1,197
Less current portion of notes payable:		$	(1,197	)
Notes Payable, net of current portion:			—

Leases - Summary of Operating Lease Activity to the Balance Sheet Statement - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease assets	$ 99,255	$ 90,713
Operating lease liabilities, current	4,535	4,096
Operating lease liabilities, net of current portion	110,501	100,872
Total operating lease liabilities	$ 115,036	$ 104,968

Basis of Presentation and Summary of Significant Accounting Policies - Reconciliation of Total Interest Cost to Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Interest expense	$ 617	$ 817
PPP interest expense forgiven		(4)
Interest income	(964)	(179)
Interest (income) expense, net	$ (347)	$ 634

- Definition

Amount of the cost of borrowed funds accounted for as interest expense.

+ References + Details

- Definition

Amount of operating interest income, including, but not limited to, amortization and accretion of premiums and discounts on securities.

+ References + Details

Equity Method Investment - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Apr. 01, 2016
Schedule of Equity Method Investments [Line Items]
Investment	$ 523	$ 618
GEN LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest	12.80%
GKBH
Schedule of Equity Method Investments [Line Items]
Distributions received from GKBH	$ 625	$ 537
Investment			$ 200
GKBH \| GEN LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest			50.00%

Related Party Notes Payable - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended				12 Months Ended
	Mar. 31, 2023	Jan. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Notes Payable [Line Item]
Proceeds from related party loans					$ 500	$ 3,518
Interest expense					617	$ 817
Ignite
Related Party Notes Payable [Line Item]
Notes payable							$ 7,700
Repayment of notes payable				$ 7,700
Related Party
Related Party Notes Payable [Line Item]
Loan agreement, interest rate			9.25%			9.25%
Proceeds from related party loans	$ 500		$ 500
Repayment of notes payable	$ 150	$ 500
Interest expense					$ 133	$ 71
Related Party \| Wall Street Journal Prime Rate
Related Party Notes Payable [Line Item]
Interest rate						1.75%
Related Party \| GEN Webster
Related Party Notes Payable [Line Item]
Loan agreement, maturity date					Nov. 25, 2023
Notes payable					$ 1,200
Proceeds from related party loans						$ 1,900
Loan interest					3.00%
Notes Payable \| Ignite
Related Party Notes Payable [Line Item]
Financial covenants terms					There were no financial covenants in the note payable agreements.
Notes payable			$ 1,100			$ 1,100
Repayment of notes payable				$ 7,700
Minimum \| Ignite
Related Party Notes Payable [Line Item]
Loan agreement, maturity date					Jan. 31, 2020
Interest rate					2.75%
Maximum \| Ignite
Related Party Notes Payable [Line Item]
Loan agreement, maturity date					Dec. 31, 2025
Interest rate					5.00%

Other Related-Party Transactions - Additional Information (Details) - USD ($)		1 Months Ended	3 Months Ended	12 Months Ended
	Aug. 29, 2014	Jan. 31, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2023	Sep. 30, 2022
Related Party Transaction [Line Items]
Accounts payable for purchases					$ 353,000
Advanced cash for pending IPO transaction					2,400,000	$ 2,000,000
Deferred offering costs				$ 0
Aborted deferred offering costs					4,000,000
Payment towards accounts payable				201,000
Pacific Global (PGD)
Related Party Transaction [Line Items]
Purchases of company				2,800,000	3,100,000
Outstanding obligation				$ 137,000	86,000
Other related party transactions ownership percentage rate				100.00%
JL Restaurant Management, Inc
Related Party Transaction [Line Items]
Outstanding obligation				$ 0	24,000
Payments to third party				1,200,000	2,600,000
Wise Universal, Inc
Related Party Transaction [Line Items]
Purchases of company				12,400,000	14,100,000
Outstanding obligation				$ 0	385,000
Other related party transactions ownership percentage rate				60.00%
Ignite
Related Party Transaction [Line Items]
Payments to third party				$ 2,300,000	4,900,000
Other related party transactions ownership percentage rate	100.00%
Accounts payable for purchases								$ 1,000,000
Ignite \| Maximum
Related Party Transaction [Line Items]
Annual fees of gross revenue for consulting services percentage	25.00%
Fast Fabrications, LLC
Related Party Transaction [Line Items]
Payments to third party				$ 30,000	102,000
Other related party transactions ownership percentage rate				100.00%
Ignite and A/R Put-Forever, LP
Related Party Transaction [Line Items]
Notes receivable from related party						$ 21,500,000
Accruing interest rate				2.50%
Other related party transactions ownership percentage rate						100.00%
Collection from notes receivable		$ 320,000	$ 13,000,000
Repayment of remaining balance							$ 13,000,000
Related Party
Related Party Transaction [Line Items]
Notes receivable from related party				$ 0	$ 10,900,000
Accounts payable for purchases				152,000
IPO
Related Party Transaction [Line Items]
Deferred offering costs				$ 3,300,000
IPO \| Additional Paid-in Capital
Related Party Transaction [Line Items]
Deferred offering costs							$ 3,300,000

Organization and Description of Business - Additional Information (Details) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) Restaurants $ / shares shares	Dec. 31, 2022 Restaurants
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of restaurants \| Restaurants		37	31
Proceeds from issuance of Class A common stock sold in IPO, net of underwriting \| $		$ 46,167
Percentage of operating outstanding common units after the ipo		12.80%
Austin, Texas
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Lease term		10 years
Portland, Oregon
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Lease term		10 years
IPO \| TRA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock issued during period, shares		28,141,566
Common stock voting power percentage		98.60%
Class A Common Stock
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock, par value \| $ / shares		$ 0.001
Stock issued during period, shares		4,140,000
Underwriters purchased an additional shares	540,000
Class A Common Stock \| IPO
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock issued during period, shares	3,600,000
Stock issued price per share \| $ / shares	$ 12
Proceeds from issuance of Class A common stock sold in IPO, net of underwriting \| $	$ 46,200
Issued and sold of common shares		4,140,000
Percentage of combined voting power of common stock		1.40%
Class B Common Stock
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock, par value \| $ / shares		$ 0.001
Stock issued during period, shares		28,141,566
GEN Inc \| IPO
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership interest	12.80%
GEN Inc \| Class B Common Stock \| IPO
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collective Ownership interest	58.60%
GEN LLC
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Subsidiary, Ownership Percentage, Parent		12.80%
GEN LLC \| GEN Inc \| Class A Common Stock
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Subsidiary, Ownership Percentage, Parent		100.00%
GEN Hawaii, LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Subsidiary, Ownership Percentage, Parent	100.00%
GEN LLC \| TRA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Percentage of payment amount of tax benefits		85.00%
GEN LLC \| Class A Common Stock
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Percentage of distributions		12.80%
GEN LLC \| Class B Common Stock
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock issued during period, shares		28,141,566
Maximum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Lease term		25 years
Minimum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Lease term		20 years

Leases - Summary of Finance Lease Activity to the Balance Sheet Statement - Finance Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Obligations under finance leases, current	$ 124	$ 134
Obligations under finance leases, net of current portion	1	185
Total finance lease liabilities	$ 125	$ 319

Leases - Summary of Operating Lease Activity to the Income Statement - Operating Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Total operating lease cost	$ 14,958	$ 12,110
Occupancy and Related Expenses, and General and Administrative Expenses
Lessee, Lease, Description [Line Items]
Operating lease cost	9,463	7,532
Variable lease cost	$ 5,495	$ 4,578

Notes Payable - Additional Information (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended
	Sep. 13, 2017	Aug. 31, 2017	Mar. 31, 2023	Jun. 30, 2023	Dec. 31, 2023	Aug. 16, 2023	Dec. 31, 2022
Notes Payable [Line item]
Loan agreement, balance					$ 4,712
Economic Injury Disaster Loan
Notes Payable [Line item]
Loan agreement					$ 4,400		$ 4,500
Loan agreement, interest rate					3.75%
Loan agreement, frequency of payment					monthly
Loan amount received							2,600
Loan, payment period					30 years
Notes Payable to Bank \| Commercial Bank Loan Agreement One
Notes Payable [Line item]
Loan agreement	$ 3,000
Loan agreement, maturity date	Sep. 15, 2024
Loan agreement, interest rate	6.00%
Loan agreement, monthly balloon payment					$ 44
Loan agreement, frequency of payment					month
Loan agreement, last payment estimated, balloon payment					$ 263
Interest rate, terms					Interest on this loan is computed on a 365/360 basis, by applying the ratio of the interest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days in the monthly period. This calculation method results in a slightly higher effective interest rate than the numeric interest rate originally stated.
Loan agreement, balance					$ 0		1,100
Date of loan amended for balloon payment					Sep. 02, 2020
Notes Payable to Bank \| Commercial Bank Loan Agreement Two
Notes Payable [Line item]
Loan agreement			$ 1,300
Loan agreement, maturity date			Feb. 06, 2030
Loan agreement, interest rate						9.25%
Loan agreement, frequency of payment					monthly
Notes Payable to Bank \| Commercial Bank Loan Agreement Two \| Wall Street Journal Prime Rate
Notes Payable [Line item]
Loan agreement, variable interest rate				1.00%
Note Payable to Landlord
Notes Payable [Line item]
Loan agreement, interest rate		8.00%
Loan agreement, balance					$ 271		$ 334
Debt instrument maturity month and year		2027-07

Notes Payable

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Notes Payable

(9)

Notes Payable

Notes Payable to Bank

On September 13, 2017, the Company and a commercial bank entered into a loan agreement in the amount of $3.0 million with a maturity date of September 15, 2024, at an interest rate of 6.00%. On September 2, 2020, the loan was amended for the amount of the balloon payment due on September 15, 2024. The Company pays $44 thousand each month and will pay one last payment estimated at $263 thousand due on September 15, 2024. Interest on this loan is computed on a 365/360 basis, by applying the ratio of the interest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days in the monthly period. This calculation method results in a slightly higher effective interest rate than the numeric interest rate originally stated. This note is guaranteed by six of the Company’s entities and is cross guaranteed by related party entities. On August 16, 2023, the Company paid the outstanding balance plus accrued interest in full. The balance as of December 31, 2023 and December 31, 2022 was $0 and $1.1 million, respectively. There is no available balance at December 31, 2023.

During the first quarter of 2023, the Company and a commercial bank entered into a loan agreement in the amount of $1.3 million with a maturity date of February 6, 2030, at a variable interest rate which is defined as the Wall Street Journal Prime Rate plus 1.00%, resulting in an interest rate of 9.25% as of August 16, 2023. Principal and interest payments were due monthly and commenced in March 2023. On August 16, 2023, the Company paid the outstanding balance plus accrued interest in full.

Economic Injury Disaster Loan (EIDL)

On July 1, 2020, the Company executed the standard loan documents for six restaurants required for securing an EIDL loan from the United States Small Business Administration (the “SBA”) under its Economic Injury Disaster Loan assistance program. This assistance was sought in light of the impact of the COVID-19 pandemic on the Company’s business.

During the year ended December 31, 2022, the Company received $2.6 million in EIDL loans. As of December 31, 2023 and December 31, 2022, the total principal amount of the EIDL loans was $4.4 million and $4.5 million, respectively, and the proceeds were used for working capital purposes. Interest on the EIDL loans accrues at 3.75% per annum and installment payments, including principal and interest, are due monthly beginning twelve months from the date of each loan. The balance of principal and interest is payable over thirty years from the date of the promissory note.

Note Payable to Landlord

In August 2017, GEN Fremont entered into a note agreement with a landlord. The Company is making equal monthly payments on this note which has a July 2027 maturity date, with an interest rate of 8.00% per annum. As of December 31, 2023 and December 31, 2022, the loan balance outstanding was $271 thousand and $334 thousand, respectively.

The aggregate maturities of all third party notes payable as of December 31, 2023 are as follows:


(in thousands)
2024	$	165
2025		179
2026		189
2027		163
2028		117
Thereafter		3,899
	$	4,712
Less current portion of notes payable		(165	)
Long term portion	$	4,547

Basis of Presentation and Summary of Significant Accounting Policies - Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Current Liabilities [Line Items]
Other current liabilities	$ 5,366	$ 4,624
Sales Tax Payable
Other Current Liabilities [Line Items]
Other current liabilities	1,447	1,468
Accrued Percentage Rent
Other Current Liabilities [Line Items]
Other current liabilities	1,163	1,246
Deferred Offering Costs
Other Current Liabilities [Line Items]
Other current liabilities	125	319
Misc. Accrued Expenses
Other Current Liabilities [Line Items]
Other current liabilities	$ 2,631	$ 1,591

Net Income Per Shares

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Net Income Per Shares

(16)

Net Income per Share

Basic net income per share of Class A common stock is computed by dividing net income attributable to GEN Inc. by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted net income per share of Class A common stock is computed by dividing net income attributable to GEN Inc. by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive elements. Diluted net income per share for any periods for which loss per share is presented is the same as basic net income per share as the inclusion of potentially issuable shares would be antidilutive.

Prior to the amendment and restatement of the Operating Company’s LLC Agreement in connection with the IPO, the Operating Company’s membership interests were defined solely as percentage interests as the LLC Agreement did not define a number of membership units outstanding or authorized. As a result, a calculation of basic and diluted earnings per unit for the year ended December 31, 2022 was not presented in the accompanying consolidated financial statements as a denominator to the calculation could not be determined. The basic and diluted net income per share for the year ended December 31, 2023 represents the brief period between the IPO listing on June 28, 2023 through December 31, 2023.

A calculation of the numerator and denominator used in the calculation of basic and diluted net income per share of Class A common stock is as follows:


	Year ended
(in thousands, except per share data)	December 31, 2023
Numerator:
Net income	$	2,526
Less: Net income attributable to non-controlling interest		2,202
Net income attributable to Class A common stockholders	$	324
Denominator:
Weighted average shares of Class A common stock outstanding - basic		4,140
Weighted average shares of Class A common stock outstanding - diluted		4,233

Net income per share of Class A common stock - basic	$	0.08
Net income per share of Class A common stock - basic and diluted	$	0.08

For the year ended December 31, 2023, 28,141,566 shares of Class B common stock was excluded from the weighted-average in the computation of diluted net income per share of Class A common stock because the effect would have been anti-dilutive.

Shares of Class B common stock do not share in the earnings or losses of GEN Inc. and are therefore not participating securities. Separate calculations of basic and diluted net income per share for Class B common stock has not been presented.

Basis of Presentation and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

(2)

Basis of Presentation and Summary of Significant Accounting Policies

(a)

Basis of Presentation

The accompanying consolidated financial statements of the Company, collectively, have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”).

(b)

Recently Issued Accounting Pronouncements

In March 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-01, Leases (Topic 842): Common Control Arrangements. The new guidance requires all lessees in a lease with a lessor under common control to amortize leasehold improvement over the useful life of the common control group and provides new guidance for recognizing a transfer of assets between entities under common control as an adjustment to equity when the lessee no longer controls the use of the underlying asset. This guidance is effective for fiscal years beginning after December 15, 2023. The Company is in the process of evaluating the impact that the adoption of the ASU will have on the consolidated financial statements and related disclosures.

In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including receivables. In January 2023, the Company adopted ASU No. 2016-13, and concluded that the adoption of Accounting Standard Codification (“ASC”) 326 did not have a material impact on the Company’s recognition of financial instruments within the scope of the standard.

ASC Topic 320, “Investments-Debt Securities” requires that an enterprise classify all debt securities as either held-to-maturity, trading, or available-for-sale. During the quarter ended December 31, 2023, the Company adopted ASC 320 and classified its U.S. Treasury and equivalent securities as held-to-maturity. Held to maturity securities are those securities which the Company has the ability and intent to hold until maturity.

In December 2019, the FASB issued ASU No. 2019-12, “Simplifying the Accounting for Incomes Taxes (Topic 740)” (“ASU 2019-12”). During 2023, the Company adopted ASC 740 after the IPO transaction. ASU 2019-12 requires a company to use the asset and liability method of accounting for income taxes, whereby deferred tax assets are recognized for deductible temporary differences, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance, when, in the opinion of management, it is more likely than not that some portion, or all of, the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effect of changes in tax laws and rate on the date of enactment. The adoption of this standard in the second quarter of 2023 had no material impact on our consolidated financial statements.

In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 820): Improvements to Reportable Segment Disclosures” which provides guidance to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for fiscal years beginning after December 15, 2023. The Company is currently evaluating the impact of this standard on our consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740),” “Improvement for Income Tax Disclosure,” which is effective for fiscal years beginning after December 31, 2024. The Company is evaluating the presentational effect that ASU 2023-09 will have on the consolidation financial statements.

The Company adopted FASB ASC 260, “Earnings per Share” after the IPO. The consolidated income statements of the Company include a presentation of income (loss) per share. The Company calculates this on the income (loss) attributable to the activity after the IPO. As of December 31, 2023, the Company did not have any dilutive securities that could, potentially, be exercised or converted into Class A common stock and then share in the earnings of the Company. As a result, diluted income (loss) per share is the same as basic income (loss) per share for the period presented.

(c)

Use of Estimates

The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities in the accompanying consolidated financial statements of the Company. The accompanying consolidated financial statements have been prepared in conformity with GAAP and applicable rules, and regulations of the SEC.

(d)

Equity-Based Compensation

The Company accounts for equity-based compensation grants of equity awards to employees in accordance with ASC Topic 718, “Stock Based Compensation”. The Company issued restricted stock units to its employees in 2023.

The Company estimates the fair value of the restricted stock units on the grant-date and recognizes the resulting fair value over the requisite service period. The fair value of each restricted stock unit or award is determined based upon the value of the common stock granted or sold. The Company has elected to treat stock-based awards with graded vesting schedules and time-based service conditions as a single award and recognizes stock-based compensation on a straight-line basis over the requisite service period. Forfeitures are accounted for as they occur.

(e)

Cash and Cash Equivalents

The Company and its related entities consider all highly liquid instruments with a maturity of three months or less when purchased to be cash equivalents. As of December 31, 2023, cash and cash equivalents consist principally of cash, money market accounts and short-term investments. Short-term investments are classified available for sale securities, which are carried at fair value, with changes in fair value reported in earnings. Cash equivalents also include credit card transactions in transit. As of December 31, 2023 and December 31, 2022, there were deposits in excess of federally insured amounts of $8.8 million and $3.5 million, respectively.


	Carrying Value/Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value as of December 31, 2023
(in thousands)
Money Market Account (included Cash and Cash Equivalents)	$	9,079	$	—	$	—	$	9,079
U.S. Treasury Securities (included in cash and cash equivalents)	$	20,000	$	322	$	—	$	20,322
	$	29,079	$	322	$	—	$	29,401
Represent money market accounts. Excludes $2.5 million of cash and cash equivalents at December 31, 2023.

(f)

Concentration Risk

The Company relies on third parties for specified food products and supplies. In instances where these parties fail to perform their obligation, the Company may be unable to find alternative suppliers.

For the year ended December 31, 2023, Sysco accounted for approximately 15.1% of total food costs.

The Company relies on U.S. Foods, an unrelated third-party for a significant portion of its food products. For the year ended December 31, 2023 and 2022, U.S. Foods accounted for approximately 36.0% and 57.6% of total food costs, respectively.

The Company relies on Pacific Global Distribution, Inc. (“PGD”), which provides restaurant supplies such as tableware, napkins, soda, and sauces. PGD is owned by a related party. For the year ended December 31, 2023 and December 31, 2022, PGD accounted for approximately 16.4% and 21.2% of total operating expenses, respectively.

The Company also relies on Wise Universal, Inc. (“Wise”), an entity 60% owned by a related party, which provides food products for 13 restaurants. For the year ended December 31, 2023 and December 31, 2022, Wise accounted for approximately 21.3% and 32.5% of total food costs, respectively.

(g)

Inventories

Inventories consist principally of food and beverages and are valued at the lower of cost or net realizable value. Cost is determined using the first-in, first-out method (FIFO) for all inventories.

(h)

Revenue Recognition

The Company recognizes revenue in accordance with ASC 606, “Revenue from Contracts with Customers.” Revenue from the operation of the restaurants is recognized as food and beverage products are delivered to customers and payment is tendered at the time of sale.

Sales tax amounts collected from customers are remitted to governmental authorities and are excluded from sales.

(i)

Property and Equipment

Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets. Property and equipment under finance leases are stated at the present value of minimum lease payments.

The estimated useful service lives are as follows:


Equipment		5 - 7 Years
Furniture and fixtures		5 - 7 Years
Leasehold improvements		Shorter of useful life or remaining lease term

The Company and its related entities capitalize certain costs in conjunction with improvements to specific sites for planned future restaurants. The Company and its related entities also capitalize certain costs, including interest, in conjunction with constructing new restaurants. These costs are included in property and equipment and are amortized over the shorter of the life of the related leasehold improvements or the remaining lease term. Costs related to abandoned sites and other site selection costs that cannot be identified with specific restaurants are charged to general and administrative expenses in the accompanying consolidated income statements. The Company and its related entities did not capitalize any internal costs related to site preparation and construction activities during the year ended December 31, 2023 and 2022 as any amounts were deemed immaterial.

(j)

Other Assets and Other Current Liabilities

Other assets as of December 31, 2023 and December 31, 2022 consist of the following:


(in thousands)	December 31, 2023		December 31, 2022
Other Assets
Security Deposits	$	533	$	444
Liquor Licenses		215		224
Other		1		15
Total Other Assets	$	749	$	683

Other Current Liabilities as of December 31, 2023 and December 31, 2022 consist of the following:


(in thousands)	December 31, 2023		December 31, 2022
Other Current Liabilities
Sales tax payable	$	1,447	$	1,468
Accrued percentage rent		1,163		1,246
Deferred offering costs		125		319
Misc. accrued expenses		2,631		1,591
Total Other Current Liabilities	$	5,366	$	4,624

(k)

Advances from members

Advances from members consist of funding received from member owners. As of December 31, 2023, the members had funded a total of $7.5 million of which $4.8 million was paid and immediately received as an equity contribution as part of the IPO. As of December 31, 2022, the members had funded a total of $4.4 million in cash to cover a portion of the costs of the IPO. (See Note 15 for further discussion).

(l)

Pre-Opening Costs

Pre-opening costs, incurred in connection with the opening of new restaurants, are expensed as incurred. Pre-opening costs were $3.7 million and $1.5 million for the years ended December 31, 2023and December 31, 2022, respectively.

(m)

Income Taxes

Prior to the IPO, the Operating Company and its related entities were organized as limited liability companies or limited partnerships and are treated as pass-through entities for federal and state income tax purposes. As the Operating Company and its related entities (other than Gen, Inc.) have elected to be treated as partnerships for income tax purposes and are not subject to federal or state income taxes, income or loss is included in the tax returns of the members or the partners of the Operating Company and its related entities based on their respective shares.

Deferred tax assets are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets of a change in tax rates is recognized in income in the period that includes the enactment date.

The Company recognizes positions taken or expected to be taken in a tax return in accordance with existing accounting guidance on income taxes which prescribes a recognition threshold and measurement process. Under GAAP, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not

meeting the “more likely than not” test, no tax benefit is recorded. Interest and penalties on tax liabilities, if any, would be recorded in interest expense and other non-interest expense, respectively.

In assessing the realizability of deferred tax assets, management considered whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment.

(n)

Long-Lived Assets

Long-lived assets, such as property and equipment owned, are reviewed quarterly for impairment and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long- lived asset or asset group to be tested for possible impairment, undiscounted cash flows expected to be generated by that asset or asset group are compared to its carrying amount. If the carrying amount of the long-lived asset or asset group is not expected to be recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying amount exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values, and third-party independent appraisals, as considered necessary. We assessed our long-lived assets for potential impairment with the result that no impairment charges were recorded in any of the periods presented.

(o)

Interest Expense

A reconciliation of total interest cost to interest expense as reported in the consolidated income statement for the years ended December 31, 2023and December 31, 2022 is as follows:


	For the year ended
(in thousands)	December 31, 2023			December 31, 2022
Interest expense	$	617		$	817
PPP interest expense forgiven		—			(4	)
Interest income		(964	)		(179	)
Interest (income) expense, net	$	(347	)	$	634

(p)

Liquor Licenses

Liquor licenses are deemed to have indefinite useful lives and are qualitatively tested on an annual basis for impairment. Liquor licenses are included in other assets in the accompanying balance sheets.

(q)

Sales Taxes

Sales taxes are imposed by state, county, and city governmental authorities, collected from customers and remitted to the appropriate governmental agency. The Company’s policy is to record the sales taxes collected as a liability on the books and then remove the liability when the sales tax is remitted. There is no impact on the consolidated income statements as restaurant sales are recorded net of sales tax.

(r)

Advertising Costs

Advertising costs are expensed as incurred and are included in general and administrative expenses in the accompanying consolidated income statements. The Company incurred approximately $187 thousand and $169 thousand in advertising expenses for the years ended December 31, 2023 and December 31, 2022, respectively.

(s)

Risks and Uncertainties.

We have been subject to continued risks and uncertainties as a result of the outbreak of, and local, state and federal governmental responses to, the COVID-19 pandemic which was declared a National Public Health Emergency in March 2020. We experienced significant disruptions to our business as suggested and mandated social

distancing and shelter-in-place orders led to the temporary closure of all of our restaurants. In the second quarter of fiscal 2020, certain jurisdictions began allowing the reopening of restaurants. While restrictions on the type of operations and occupancy capacity may continue to change, by the end of the first quarter of 2022 all of our restaurants were operating at full capacity with no capacity restrictions remaining. We cannot predict whether COVID-19 outbreaks will reoccur or whether variants will spike, what additional restrictions may be enacted, to what extent we can maintain sales volumes during or following any resumption of mandated social distancing protocols or vaccination or mask mandates and what long-lasting effects the COVID-19 pandemic may have on the restaurant industry as a whole. The ongoing effects of the COVID-19 pandemic, including, but not limited to, labor-related impacts, supply chain disruptions and changes in consumer behavior, will determine the continued significance of the impact of the COVID-19 pandemic to our operating results and financial position.

The Company has experienced, and in the future may experience, inflation related to its purchase of certain food products that the Company needs to operate its business. This price volatility could potentially have a material impact on the Company’s financial condition and/or its results of operations. In order to mitigate price volatility, the Company monitors cost fluctuations and may adjust its menu prices accordingly. The Company’s ability to compensate for higher costs through increased pricing may be limited by the competitive environment in which the Company operates.

(t)

Restaurant Revitalization Fund

Several of the Company’s restaurants received, between May and August 2021, a total of approximately $16.8 million from the Restaurant Revitalization Fund (“RRF”). The RRF funds must be used for specific purposes, and the Company was required to provide use of funds validation on an annual basis through March 2023. The Company accounted for the RRF funds as a government grant and has recognized the amounts as income as related expenses were incurred. During the year ended December 31, 2021, the Company recognized approximately $13.0 million as RRF grant income and had deferred the remaining balance of $3.8 million. No RRF grant income was recognized during the year ended December 31, 2023 and December 31, 2022.

(u)

Employee Retention Credits

In March 2020, the Coronavirus Aid, Relief, and Economic Security Act was signed into law, providing numerous tax provisions and other stimulus measures, including the Employee Retention Credit (“ERC”), a refundable tax credit against certain employment taxes. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 and the American Rescue Plan Act of 2021 extended and expanded the availability of the ERC. We qualified for the ERC in the first and second quarters of 2019, second and fourth quarters of 2020 and first, second and third quarters of 2021. During the year ended December 31, 2023 and December 31, 2022, we recorded an aggregate benefit of $2.5 million and $3.5 million, respectively, in our consolidated income statements to reflect the ERC.

(u)

Deferred Offering Costs

The Company capitalized certain legal, accounting, and other third-party fees that were directly attributable to the IPO. Following the successful consummation of the IPO in June 2023, deferred offering costs of approximately $3.3 million were recorded in the Company’s stockholders’ equity as a reduction of additional paid-in capital. The Company had no remaining deferred offering costs assets at December 31, 2023.

(v)

Net Income Per Share

Basic net income per share is computed by dividing net income attributable to the Company by the weighted average number of shares outstanding during the period. Diluted net income per share is computed by giving effect to all potential weighted average dilutive shares including stock options, restricted stock units, dividend equivalent units, restricted stock awards, and Class B Common Units exchangeable for shares of Class A common stock for the periods after the closing of the IPO on June 30, 2023. The dilutive effect of outstanding awards, if any, is reflected in diluted earnings per share by application of the treasury stock method or if-converted method, as applicable. See “Note 16—Net Income per Share.”

Equity Method Investment - Summary of GKBH financial position and results of operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Current assets	$ 36,818	$ 14,731
Current liabilities	31,303	37,266
Operating income	8,090	12,352
Net income	11,434	11,732
Net income attributable to the entity	8,406	10,281
GKBH
Schedule of Equity Method Investments [Line Items]
Current assets	808	846
Noncurrent assets	2,290	892
Current liabilities	972	367
Noncurrent liabilities	1,064	130
Net sales or gross revenue	7,412	7,316
Operating income	4,967	4,925
Net income	1,071	1,932
Net income attributable to the entity	$ 535	$ 966

Incomes Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The following table details the Company’s provision for income taxes. Components of the provision for incomes taxes are as follows:


	Year ended December 31,
(in thousands)	2023			2022
Current tax:
U.S. Federal		(61	)		-
U.S. State and local		(47	)		-
	$	(108	)	$	-

Deferred tax:
U.S. Federal		71			-
U.S. State and local		16			-
	$	87		$	-

Valuation Allowance		—			—
Provision for income taxes	$	(21	)	$	-

Schedule of Effective Income Tax Rate Reconciliation

The company had an effective tax rate of 0.19% for the year ended December 31, 2023. The reconciliation of the statutory federal income tax rate to the Company’s effective tax rate was as follows:


	Year ended December 31,
	2023			2022
Statutory U.S. federal income tax rate		21.00	%	$	-
State tax, net of federal benefits		0.22	%		-
Non-deductible expenses		0.02	%		-
Non-controlling interest		-20.44	%		-
Tax Credits		-0.61	%		-
State rate change		0.00	%		-
Change in valuation allowance		0.00	%		-
Effective tax rate		0.19	%	N/A

Schedule of Deferred Tax Assets and Liabilities

Temporary differences and carryforward that give rise to deferred tax assets and liabilities are comprised of the following:


	Year ended December 31,
(in thousands)	2023		2022
Deferred tax assets:
Outside basis differences		12,608		-
State taxes		10		-
Gross deferred tax asset before valuation		12,618		-
Net deferred tax asset	$	12,618	$	-

Net Deferred tax liabilities	$	12,618	$	-

Net Income Per Shares - Calculation of Numerator and Denominator Used in Calculation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share Disclosure [Line Items]
Net income	$ 11,434	$ 11,732
Less: Net income attributable to non-controlling interest	(3,028)	$ (1,451)
Net income attributable to Class A common stockholders	$ 324
Weighted average number of shares outstanding basic	4,140
Weighted average number of shares outstanding diluted	4,233
Net income per share basic	$ 0.08
Net income per share diluted	$ 0.08
Class A Common Stock
Earnings Per Share Disclosure [Line Items]
Net income	$ 2,526
Less: Net income attributable to non-controlling interest	2,202
Net income attributable to Class A common stockholders	$ 324
Weighted average number of shares outstanding basic	4,140
Weighted average number of shares outstanding diluted	4,233
Net income per share basic	$ 0.08
Net income per share diluted	$ 0.08

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

Amount of Net Income (Loss) attributable to noncontrolling interest.

+ References + Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 6.B)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-11

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-11

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480767/946-205-45-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(16))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-19

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 29: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 33: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4J
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4J

Reference 34: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4K
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4K

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-2

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-1A

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-1A

+ Details

Capital Contributions Receivable	12 Months Ended
Capital Contributions Receivable	Dec. 31, 2023
Capital Contributions Receivable [Abstract]
Capital Contributions Receivable	(3) Capital Contribution Receivable The Company and its related entities had capital contributions receivables. During January 2022, the partners of certain of the Company’s related entities paid $320 thousand to the Company. As of December 31, 2022, the Company had $60 thousand in capital contributions receivable from two restaurants: GEN Webster and GEN Kapolei. During the IPO, the remaining $60 thousand receivable balance was collected in full resulting in an increase to owners’ equity.

Notes Receivable from Related Party	12 Months Ended
Notes Receivable from Related Party	Dec. 31, 2023
Related Party Transactions [Abstract]
Notes Receivable from Related Party	(5) Notes Receivable from Related Party The Notes receivable from related party balance as of December 31, 2022, was $10.9 million with accrued interest income receivable of $164 thousand. During the period ended June 30, 2023, the Company provided an additional $2.1 million in loans to the related party. The Company recorded $172 thousand as interest income during the year ended December 31, 2023. As part of the IPO in June 2023, the loan along with the accrued interest was repaid in full resulting in an increase in owners’ equity. The note receivable from related party balance was zero as of December 31, 2023.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Organization and Description of Business (Tables)

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of List of Entities in Operation

The following tables lists the Company’s entities in operation as of December 31, 2023:


Name	Operating Name	State	Purpose
GEN Restaurant Group, LLC	GEN Tustin	CA	Restaurant
	GEN Huntington Beach	CA	Restaurant
	GEN Oxnard	CA	Restaurant
JC Group International Inc. (S Corp)	GEN Henderson	NV	Restaurant
	GEN West Covina	CA	Restaurant
	GEN Corona	CA	Restaurant
GEN Restaurant Investment, LLC	GEN Glendale	CA	Restaurant
GEN California, LLC	GEN Fullerton	CA	Restaurant
	GEN Mira Mesa	CA	Restaurant
GEN Arizona, LLC	GEN Tempe	AZ	Restaurant
GEN Chandler, LLC	GEN Chandler	AZ	Restaurant
GEN Nevada, LLC	GEN Sahara	NV	Restaurant
	GEN Miracle Mile	NV	Restaurant
GEN Alhambra, LLC	GEN Alhambra	CA	Restaurant
GEN Arlington, LP	GEN Arlington	TX	Restaurant
GEN Cerritos, LLC	GEN Cerritos	CA	Restaurant
GEN Cerritos II, LP	Gen Cerritos II	CA	Restaurant
GEN Torrance, LLC	GEN Torrance	CA	Restaurant
GEN Rancho Cucamonga, LP	GEN Rancho Cucamonga	CA	Restaurant
GEN San Jose, LP	GEN San Jose	CA	Restaurant
GEN Northridge, LP	GEN Northridge	CA	Restaurant
GEN Chino Hills, LP	GEN Chino Hills	CA	Restaurant
GEN Carrollton, LP	GEN Carrollton	TX	Restaurant
GEN Fort Lauderdale, LP	GEN Fort Lauderdale	FL	Restaurant
GEN Fremont, LP	GEN Fremont	CA	Restaurant
GEN Concord, LP	GEN Concord	CA	Restaurant
GEN Webster, LP	GEN Webster	TX	Restaurant
GEN Westgate, LP	GEN Westgate	CA	Restaurant
GEN Westheimer, LLC	GEN Westheimer	TX	Restaurant
GEN Manhattan NYU, LP	GEN Manhattan	NY	Restaurant
GEN Mountain View, LP	GEN Mountain View	CA	Restaurant
GKBH Restaurant, LLC	GEN Korean BBQ	HI	Restaurant
GEN Hawaii, LLC	Investment Company	HI	Management of GKBH
GEN Online, LLC	GEN Online	CA	Website sales
GEN Sacramento, LP	GEN Sacramento	CA	Restaurant
GEN Pearlridge, LLC	GEN Pearlridge	HI	Restaurant
GEN Kapolei, LP	GEN Kapolei	HI	Restaurant
GEN Frisco, LP	GEN Frisco	TX	Restaurant
GEN Houston, LLC	GEN Houston	TX	Restaurant
GEN Texas, LLC	Investment Company	TX	Management of GEN Houston and GEN Webster
GEN Master, LLC	Holding Company	NV	Management
GEN Restaurant Management, LLC	GRM	DE	Management

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Summary of Operating and Finance Lease Activities

The following table summarizes the operating and finance lease activities to the income statement and balance sheet for the the year ended December 31, 2023 and 2022:


(in thousands)		Year ended December 31,
Operating lease cost	Classification	2023		2022
Operating lease cost	Occupancy and related expenses, and General and administrative expenses	$	9,463	$	7,532
Variable lease cost	Occupancy and related expenses, and General and administrative expenses		5,495		4,578
Total operating lease cost		$	14,958	$	12,110


Supplemental balance sheet information related to leases:
Operating leases	December 31, 2023		December 31, 2022
Operating lease assets	$	99,255	$	90,713
Operating lease liabilities, current		4,535		4,096
Operating lease liabilities, net of current portion		110,501		100,872
Total operating lease liabilities	$	115,036	$	104,968


Finance lease assets, net	December 31, 2023			December 31, 2022
Property and equipment	$	902		$	905
Accumulated depreciation		(861	)		(714	)
Property and equipment, net	$	41		$	191


Finance lease liabilities	December 31, 2023		December 31, 2022
Obligations under finance leases, current	$	124	$	134
Obligations under finance leases, net of current portion		1		185
Total finance lease liabilities	$	125	$	319


	Year ended
	December 31, 2023
Weighted Average Remaining Lease Term (Years)
Operating leases		14.4
Finance leases		0.8
Weighted Average Discount Rate
Operating leases		5.99	%
Finance leases		7.48	%

Schedule Maturities of Lease Liabilities

Maturities of lease liabilities as of December 31, 2023:


	Operating Leases			Finance Leases
(in thousands)
2024	$	10,850		$	126
2025		11,282			2
2026		11,486			—
2027		11,684			—
2028		11,844			—
Thereafter		117,967			—
Total undiscounted lease payments	$	175,113		$	128
Present value discount/interest		(60,077	)		(3	)
Present value		115,036			125
Lease liabilities, current		4,535			124
Lease liabilities, net of current		110,501			1
Total operating lease liability	$	115,036		$	125

Gross Amounts of Property and Equipment and Related Accumulated Depreciation and Amortization Recorded under Finance Leases

On December 31, 2023 and December 31, 2022 the gross amounts of property and equipment and related accumulated depreciation and amortization recorded under finance leases were as follows:


	Year ended
(in thousands)	December 31, 2023			December 31, 2022
Property and equipment		902			905
Less accumulated depreciation and amortization		(861	)		(714	)
Property and equipment, net	$	41		$	191

Subsequent Events - Additional Information (Details) $ in Millions		1 Months Ended	6 Months Ended
	Feb. 19, 2024 USD ($)	Feb. 29, 2024 Restaurants	Aug. 19, 2024 USD ($)
GKBH \| Forecast [Member]
Subsequent Event [Line Items]
Business combination, consideration			$ 3
Subsequent Event
Subsequent Event [Line Items]
Number of restaurants \| Restaurants		2
Subsequent Event \| GKBH
Subsequent Event [Line Items]
Percentage of partnership acquired	50.00%
Business acquisition, percentage of voting interests acquired	50.00%
Business combination price of acquisition expected	$ 6
Business combination, consideration	$ 3

Basis of Presentation and Summary of Significant Accounting Policies - Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Other assets	$ 749	$ 683
Security Deposits
Property, Plant and Equipment [Line Items]
Other assets	533	444
Liquor Licenses
Property, Plant and Equipment [Line Items]
Other assets	215	224
Other Assets
Property, Plant and Equipment [Line Items]
Other assets	$ 1	$ 15

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

(11)

Leases

At inception of a contract, the Company assesses whether a contract is a lease based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Lease classification, measurement, and recognition are determined at lease commencement, which is the date the underlying asset is available for use by the Company. The accounting classification of a lease is based on whether the arrangement is effectively a financed purchase of the underlying asset (finance lease) or not (operating lease). The Company has operating and finance leases for its corporate office, restaurant locations, office equipment and kitchen equipment. Our leases have remaining lease terms of less than 1 year to up to 25 years, including options to extend many of the leases. For leases with renewal periods at the Company’s option, the Company determines the expected lease period based on whether the renewal of any options are reasonably assured at the inception of the lease.

Operating leases are accounted for on the balance sheet with the lease assets and liabilities recognized in “Operating lease assets”, “Operating lease liabilities, current” and “Operating lease liabilities, net of current portion”. Finance lease liabilities are recognized on the balance sheet in “Obligations under finance leases, current” and “Obligations under finance leases, net of current portion”.

Lease assets and liabilities are recognized at the lease commencement date. All lease liabilities are measured at the present value of the lease payments not yet paid. To determine the present value of lease payments not yet paid, we estimate incremental borrowing rates corresponding to the maturities of the leases. We estimate this rate based on prevailing financial market conditions, comparable company and credit analysis, and management judgment. Operating lease assets are initially measured based on the lease liability, adjusted for initial direct costs, prepaid or deferred rent, and lease incentives. The operating lease liabilities are subsequently measured at the carrying amount of the lease liability adjusted for initial direct costs, prepaid or accrued lease payments, and lease incentives.

The following table summarizes the operating and finance lease activities to the income statement and balance sheet for the the year ended December 31, 2023 and 2022:


(in thousands)		Year ended December 31,
Operating lease cost	Classification	2023		2022
Operating lease cost	Occupancy and related expenses, and General and administrative expenses	$	9,463	$	7,532
Variable lease cost	Occupancy and related expenses, and General and administrative expenses		5,495		4,578
Total operating lease cost		$	14,958	$	12,110


Supplemental balance sheet information related to leases:
Operating leases	December 31, 2023		December 31, 2022
Operating lease assets	$	99,255	$	90,713
Operating lease liabilities, current		4,535		4,096
Operating lease liabilities, net of current portion		110,501		100,872
Total operating lease liabilities	$	115,036	$	104,968


Finance lease assets, net	December 31, 2023			December 31, 2022
Property and equipment	$	902		$	905
Accumulated depreciation		(861	)		(714	)
Property and equipment, net	$	41		$	191


Finance lease liabilities	December 31, 2023		December 31, 2022
Obligations under finance leases, current	$	124	$	134
Obligations under finance leases, net of current portion		1		185
Total finance lease liabilities	$	125	$	319


	Year ended
	December 31, 2023
Weighted Average Remaining Lease Term (Years)
Operating leases		14.4
Finance leases		0.8
Weighted Average Discount Rate
Operating leases		5.99	%
Finance leases		7.48	%

Maturities of lease liabilities as of December 31, 2023:


	Operating Leases			Finance Leases
(in thousands)
2024	$	10,850		$	126
2025		11,282			2
2026		11,486			—
2027		11,684			—
2028		11,844			—
Thereafter		117,967			—
Total undiscounted lease payments	$	175,113		$	128
Present value discount/interest		(60,077	)		(3	)
Present value		115,036			125
Lease liabilities, current		4,535			124
Lease liabilities, net of current		110,501			1
Total operating lease liability	$	115,036		$	125

As of December 31, 2023, the Company had additional operating leases related to new restaurants the Company has not yet taken possession of that will total $44.5 million in future lease payment commitments. These operating leases are expected to commence in fiscal year 2024 and have lease terms, including option periods, of 20 to 25 years.

The Company is obligated under finance leases covering certain property and equipment that expire at various dates during the next 2 years. On December 31, 2023 and December 31, 2022 the gross amounts of property and equipment and related accumulated depreciation and amortization recorded under finance leases were as follows:


	Year ended
(in thousands)	December 31, 2023			December 31, 2022
Property and equipment		902			905
Less accumulated depreciation and amortization		(861	)		(714	)
Property and equipment, net	$	41		$	191

Amortization of assets held under finance leases is included with depreciation expense in the consolidated income statement.

Basis of Presentation and Summary of Significant Accounting Policies - Estimated Useful Service Lives (Details)	12 Months Ended
	Dec. 31, 2023
Equipment [Member] \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	7 years
Equipment [Member] \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Furniture and Fixtures [Member] \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	7 years
Furniture and Fixtures [Member] \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Useful life description	Shorter of useful life or remaining lease term

Leases - Summary of Finance Lease Activity to the Balance Sheet Statement - Finance Lease Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization [Abstract]
Property and equipment	$ 902	$ 905
Accumulated depreciation	(861)	(714)
Property and equipment, net	$ 41	$ 191

Net Income Per Shares - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023 shares
Class B Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average shares, common stock options excluded	28,141,566

Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 32,631,000	$ 11,195,000
Inventories	461,000	2,542,000
Prepaid expenses and other current assets	3,726,000	994,000
Total current assets	36,818,000	14,731,000
Equity method investment	523,000	618,000
Property and equipment, net	33,907,000	21,283,000
Operating lease assets	99,255,000	90,713,000
Deferred tax asset	12,618,000
Other assets	749,000	683,000
Total assets	183,870,000	138,878,000
Current liabilities
Accounts payable	10,704,000	7,474,000
Accrued salaries and benefits	2,660,000	1,976,000
Accrued interest	42,000	175,000
Line of credit	0	6,894,000
Obligations under finance leases, current	124,000	134,000
Operating lease liabilities, current	4,535,000	4,096,000
Deferred Restaurant Revitalization Fund grant	3,806,000	3,806,000
Advances from members	2,704,000	4,442,000
Other current liabilities	5,366,000	4,624,000
Total current liabilities	31,303,000	37,266,000
Obligations under finance leases, net of current portion	1,000	185,000
Operating lease liabilities, net of current portion	110,501,000	100,872,000
Total liabilities	146,352,000	144,139,000
Commitments and contingencies (Note 12)
Mezzanine equity
EB-5 Members' equity	1,500,000	1,500,000
Permanent equity (deficit)
Members' equity (deficit)	322,000	(10,011,000)
Non-controlling interest	28,552,000	3,250,000
Additional paid-in capital	7,112,000
Retained Earnings	322,000	(10,011,000)
Total permanent equity (deficit)	36,018,000	(6,761,000)
Total liabilities and stockholders' equity (deficit)	183,870,000	138,878,000
Related Party
Current assets:
Notes receivable from related party		10,850,000
Current liabilities
Notes payable, current	1,197,000	3,021,000
Notes payable, net of current portion		500,000
Non-related Party
Current liabilities
Notes payable, current	165,000	624,000
Notes payable, net of current portion	4,547,000	$ 5,316,000
Class A Common Stock
Permanent equity (deficit)
Common stock	4,000
Class B Common Stock
Permanent equity (deficit)
Common stock	$ 28,000

Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

(12)

Commitments and Contingencies

(a)

Commitments

On November 23, 2016, pursuant to the U.S. government’s Immigrant Investor Program, commonly known as the EB-5 program (the “EB-5 Program”), Gen Restaurant Investment, LLC entered into an operating agreement with

an investor (the “EB-5 Investor”). Under the terms and conditions of the EB- 5 program, the Company is subject to certain job creation requirements.

As part of the EB-5 Program operating agreement, Gen Restaurant Investment, LLC issued 3 units of Series II Preferred Member Interest in exchange for a 30% interest and received $1.5 million, recorded as equity. Five years from the date of issue, (the “Conversion Date”), or after approval of the l-829 petition to USCIS, the EB-5 Investor has the option to convert the Series II Units into Series I Units. If the EB-5 Investor does not exercise the conversion option, the Company may exercise its call option to purchase the EB-5 Investor’s interests for the fair market value. If approval of the preferred member's I-526 immigration application is denied, the Company is required to repurchase the preferred member's units for $1.5 million.

Accordingly, this has been presented as mezzanine equity, not permanent equity, in the accompanying consolidated balance sheets.

(b)

Contingencies

The Company and its related entities are involved in various claims and legal actions arising in the ordinary course of business.

On January 21, 2015, the Company received a class-action lawsuit naming Gen Alhambra, LLC, for alleged wage and hour class violations in Los Angeles County, California. This claim was settled during the year ended December 31, 2022, for an amount of $850,000 and was recorded in the Company’s books as Other income (expense).

The Company received several lawsuits from ex-employees naming the Company alleged labor law violations in Los Angeles County, California. The Company plans to continue to defend against these claims and do not expect the outcome of the lawsuits to have a material impact on the financial statements of the Company.

Commitments and Contingencies - Additional Information (Details) - USD ($)		12 Months Ended
	Oct. 14, 2022	Dec. 31, 2022
Loss Contingencies [Line Items]
Aborted deferred IPO costs written off		$ 4,036,000
Settlement amount		$ 850,000
Investment Banking
Loss Contingencies [Line Items]
Percentage of interest	30.00%
Equity	$ 1,500,000
Repurchase preferred member's units	$ 1,500,000

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481372/852-10-55-10

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-12

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480418/310-10-S99-2

+ Details

Basis of Presentation and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Basis of Presentation

(a)

Basis of Presentation

Recently Issued Accounting Pronouncements

(b)

Recently Issued Accounting Pronouncements

Use of Estimates

(c)

Use of Estimates

Equity-Based Compensation

(d)

Equity-Based Compensation

Cash and Cash Equivalents

(e)

Cash and Cash Equivalents


	Carrying Value/Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value as of December 31, 2023
(in thousands)
Money Market Account (included Cash and Cash Equivalents)	$	9,079	$	—	$	—	$	9,079
U.S. Treasury Securities (included in cash and cash equivalents)	$	20,000	$	322	$	—	$	20,322
	$	29,079	$	322	$	—	$	29,401
Represent money market accounts. Excludes $2.5 million of cash and cash equivalents at December 31, 2023.

Concentration Risk

(f)

Concentration Risk

For the year ended December 31, 2023, Sysco accounted for approximately 15.1% of total food costs.

Inventories

(g)

Inventories

Inventories consist principally of food and beverages and are valued at the lower of cost or net realizable value. Cost is determined using the first-in, first-out method (FIFO) for all inventories.

Revenue Recognition

(h)

Revenue Recognition

Sales tax amounts collected from customers are remitted to governmental authorities and are excluded from sales.

Property and Equipment

(i)

Property and Equipment

The estimated useful service lives are as follows:


Equipment		5 - 7 Years
Furniture and fixtures		5 - 7 Years
Leasehold improvements		Shorter of useful life or remaining lease term

Other Assets and Other Current Liabilities

(j)

Other Assets and Other Current Liabilities

Other assets as of December 31, 2023 and December 31, 2022 consist of the following:


(in thousands)	December 31, 2023		December 31, 2022
Other Assets
Security Deposits	$	533	$	444
Liquor Licenses		215		224
Other		1		15
Total Other Assets	$	749	$	683

Other Current Liabilities as of December 31, 2023 and December 31, 2022 consist of the following:


(in thousands)	December 31, 2023		December 31, 2022
Other Current Liabilities
Sales tax payable	$	1,447	$	1,468
Accrued percentage rent		1,163		1,246
Deferred offering costs		125		319
Misc. accrued expenses		2,631		1,591
Total Other Current Liabilities	$	5,366	$	4,624

Advances from Members

(k)

Advances from members

Pre-Opening Costs

(l)

Pre-Opening Costs

Income Taxes

(m)

Income Taxes

Long-Lived Assets

(n)

Long-Lived Assets

Interest Expense

(o)

Interest Expense

A reconciliation of total interest cost to interest expense as reported in the consolidated income statement for the years ended December 31, 2023and December 31, 2022 is as follows:


	For the year ended
(in thousands)	December 31, 2023			December 31, 2022
Interest expense	$	617		$	817
PPP interest expense forgiven		—			(4	)
Interest income		(964	)		(179	)
Interest (income) expense, net	$	(347	)	$	634

Liquor Licenses

(p)

Liquor Licenses

Sales Taxes

(q)

Sales Taxes

Advertising Costs

(r)

Advertising Costs

Risks and Uncertainties

(s)

Risks and Uncertainties.

Restaurant Revitalization Fund

(t)

Restaurant Revitalization Fund

Employee Retention Credits

(u)

Employee Retention Credits

Deferred Offering Costs

(u)

Deferred Offering Costs

Net Income Per Share

(v)

Net Income Per Share

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities
Net income	$ 11,434	$ 11,732
Adjustments to reconcile net income to cash provided by operating activities
Depreciation and amortization	4,892	4,353
Equity in income of equity method investee, net of distributions	95	(429)
Gain on extinguishment of debt, PPP		(387)
Stock-based compensation	1,517
Amortization Of Operating Lease Assets	4,642	2,568
Aborted deferred IPO costs written off		4,036
Interest income earned on Notes receivable from related party	(150)	(164)
Changes in operating assets and liabilities:
Inventories	2,082	(1,413)
Prepaid expenses and other current assets	(2,584)	454
Other assets	(67)	(19)
Accounts payable	3,009	1,969
Accrued salaries and benefits	684	509
Accrued interest	(133)	(86)
Other current liabilities	(45)	1,700
Operating lease liabilities	(3,115)	(1,424)
Deferred tax asset	(97)
Net cash provided by operating activities	22,164	23,399
Cash flows from investing activities
Proceeds from recovery of Notes receivable from related party	12,950	13,325
Advances made to related party	(2,100)	(2,650)
Purchase of property and equipment	(17,157)	(8,104)
Net cash (used in) provided by investing activities	(6,307)	2,571
Cash flows from financing activities
Proceeds from issuance of Class A common stock sold in IPO, net of underwriting	46,167
Payments to members for advances	(2,000)
Advances from members	262	2,442
Payments for deferred offering costs	(2,479)	(2,420)
Proceeds from PPP and EIDL loans		2,700
Payments on PPP and EIDL loans	(87)	(213)
Payments on finance leases	(194)	(207)
Payments on third party loans	(2,440)	(509)
Payments on related party loans	(2,088)	(7,684)
Payments on line of credit	(7,993)	(1,000)
Proceeds from line of credit	1,100	7,893
Proceeds from third party loans	1,300
Proceeds from related party loans	500	3,518
Member distributions	(26,469)	(29,185)
Net cash provided by (used in) financing activities	5,579	(24,665)
Net increase in cash and cash equivalents	21,436	1,305
Cash and cash equivalents at beginning of year	11,195	9,890
Cash and cash equivalents at end of the year	32,631	11,195
Supplemental disclosures of other cash flow information:
Cash paid for interest	195	736
Cash paid for taxes	175
Non-cash investing and financing activities:
Unpaid purchases of property and equipment	927	568
Receivable for member contributions		60
Unpaid deferred offering cost	125
Leased assets obtained in exchange for new operating lease liabilities	13,355	92,281
Purchase of PPE through finance lease		$ 15
Conversion of related party loans to member's equity	$ 871

Income Taxes - Additional Information (Details)	12 Months Ended
Income Taxes - Additional Information (Details)	Dec. 31, 2023 USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 0
Interest or penalties	$ 0
Effective tax rate	0.19%
Percentage of tax benefits due to equity owners	85.00%
Tax receivable agreement percentage of tax benefits remaining realize	15.00%
Liability related to projected obligations	$ 0
Tax receivable agreement payments	$ 0

Consolidated Income Statements - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenue	$ 181,007	$ 163,729
Restaurant operating expenses:
Food cost	58,322	54,357
Payroll and benefits	56,889	48,866
Occupancy expenses	14,653	12,110
Operating expenses	18,043	15,019
Depreciation and amortization	4,808	4,314
Pre-opening costs	3,680	1,455
Total restaurant operating expenses	156,395	136,121
General and administrative	12,937	7,988
Consulting fees - related party	2,325	4,897
Management fees	1,176	2,332
Depreciation and amortization - corporate	84	39
Total costs and expenses	172,917	151,377
Income from operations	8,090	12,352
Gain on extinguishment of PPP debt		387
Employee retention credits	2,483	3,532
Aborted deferred IPO costs written off		(4,036)
Other loss		(835)
Interest income (expense), net	347	(634)
Equity in income of equity method investee	535	966
Net income before income taxes	11,455	11,732
Provision for income taxes	(21)
Net income	11,434	11,732
Less: Net income attributable to noncontrolling interest	3,028	1,451
Net income attributable to GEN Restaurant Group, Inc.	8,406	$ 10,281
Net income attributable to Class A common stock per share - basic	324
Net income attributable to Class A common stock per share - diluted	$ 324
Weighted-average shares of Class A common stock outstanding - basic	4,140
Weighted-average shares of Class A common stock outstanding - diluted	4,233
Net income per share of Class A common stock - basic	$ 0.08
Net income per share of Class A common stock - diluted	$ 0.08

Net Income Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Calculation of Numerator and Denominator Used in Calculation of Basic and Diluted Net Income Per Share

A calculation of the numerator and denominator used in the calculation of basic and diluted net income per share of Class A common stock is as follows:


	Year ended
(in thousands, except per share data)	December 31, 2023
Numerator:
Net income	$	2,526
Less: Net income attributable to non-controlling interest		2,202
Net income attributable to Class A common stockholders	$	324
Denominator:
Weighted average shares of Class A common stock outstanding - basic		4,140
Weighted average shares of Class A common stock outstanding - diluted		4,233

Net income per share of Class A common stock - basic	$	0.08
Net income per share of Class A common stock - basic and diluted	$	0.08

Other Related-Party Transactions

12 Months Ended

Dec. 31, 2023

Other Related-Party Transactions

(15)

Other Related-Party Transactions

The Company purchased approximately $2.8 million and $3.1 million for the year ended December 31, 2023 and December 31, 2022, respectively, of supplies from Pacific Global (“PGD”), which is 100% owned by Mr. Jae Chang, our Co-Chief Executive Officer and Mr. Chang's direct family. Outstanding obligations for supply purchases from PGD of approximately $137 thousand and $86 thousand are included in accounts payable as of December 31, 2023, and December 31, 2022, respectively.

In 2016, the Company entered into a management agreement with JL Restaurant Management, Inc (formerly known as J&J Management Group, Inc.) a third party which shares offices with Mr. Jae Chang, our Co-Chief Executive Officer. Pursuant to the agreement, the Company paid approximately $1.2 million and $2.6 million during the year ended December 31, 2023 and December 31, 2022, respectively. As of December 31, 2023 and December 31, 2022, included in accounts payable were payments due for obligations for management services provided by JL Restaurant Management, Inc. of $0 and $24 thousand, respectively. Following the IPO on June 27, 2023 this management agreement was terminated.

The Company purchased food from Wise Universal Inc., an affiliate 60% owned by Mr. Chang for approximately $12.4 million and $14.1 million for the year ended December 31, 2023 and December 31, 2022, respectively. As of December 31, 2023 and December 31, 2022, included in accounts payable were outstanding obligations for food purchases from Wise of approximately $0 and $385 thousand, respectively.

On August 29, 2014, the Company entered into a consulting agreement (the “Consulting Agreement”) with Ignite, 100% owned by Mr. David Kim, our Co-Chief Executive Officer, which provides for annual fees of up to 25% of gross revenue in exchange for various consulting services. Such consulting fees were only paid to the extent the Company and its related entities had adequate resources as determined by the controlling member. The Company

paid approximately $2.3 million and $4.9 million for the year ended December 31, 2023 and December 31, 2022, respectively. Following the IPO on June 27, 2023 this agreement was terminated.

During the year ended December 31, 2023 and December 31, 2022, the Company paid approximately $30 thousand and $102 thousand to Fast Fabrications, LLC (“Fast Fabrications”), for services related to restaurant interior construction. Fast Fabrications is an affiliate that is 100% owned by an employee of the Company. That employee is also a partner in several of the LP entities and a member of GEN Hawaii.

As of December 31, 2021, the Company had notes receivable from Ignite and A/R Put-Forever, LP (100% owned by David Kim) totaling $21.5 million with interest accruing at 2.5% per annum. The $13.0 million was collected during the three months ending March 31, 2022. During the month of January 2022, the Company received $320 thousand from its partners. The remaining balance of approximately $13.0 million was repaid in full and immediately distributed to owner’s equity as part of the IPO during June 2023.

As of December 31, 2022, GEN Mountain View had a related party account payable to a company owned by Mr. David Kim, of approximately $353 thousand for purchases of fixed assets during 2018. During the year ended December 31, 2023, GEN Mountain View paid $201 thousand towards this payable. As of December 31, 2023, the related party account payable was $152 thousand.

As of September 30, 2022 Gen Restaurant Management had a related party account payable to Ignite of $1.0 million for the purchase of inventory. During October and November 2022, the Company had repaid the entire balance.

During the year ended December 31, 2021 the owners advanced $2.0 million in cash to cover a portion of the costs of the pending IPO. During the year ended December 31, 2022, the owners advanced an additional $2.4 million. Of this total, $4.0 million was expensed during the year as deferred offering costs aborted, reflecting poor IPO market conditions at the end of 2022. As of December 31, 2023, the deferred offering costs balance was zero. The Company capitalized certain legal, accounting, and other third-party fees that were directly attributable to GEN Inc’s IPO. Following the successful consummation of the IPO in June 2023, deferred offering costs of approximately $3.3 million were recorded in the Company’s stockholders’ equity as a reduction of additional paid in capital. The Company had no deferred offering costs at December 31, 2023.

Income Taxes - Schedule of Components of the Provision for Incomes Taxes (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Current tax:
U.S. Federal	$ (61)
U.S. State and local	(47)
Current Federal, State and Local, Tax Expense (Benefit), Total	(108)
Deferred tax:
U.S. Federal	71
U.S. State and local	16
Deferred Federal, State and Local, Tax Expense (Benefit), Total	87
Provision for income taxes	$ (21)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

(4)

Fair Value of Financial Instruments

The Company's financial instruments consist of cash and cash equivalents and investments. The carrying amounts reported in the accompanying consolidated balance sheets for cash and cash equivalents approximate fair value because of the short-term maturity of those instruments. Fair value measurements are classified and disclosed in one of the following three categories:

Level 1 - Quoted prices in active markets for identical assets or liabilities.

Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets of liabilities.

As of December 31, 2023, all of the Company's financial assets that were subject to fair value measurement were valued using observable inputs. The Company's financial assets valued based on Level 1 inputs consist of cash and money market funds. The Company's financial assets based on Level 2 inputs consist of U.S. treasury securities.


			Fair Value Measurements at December 31, 2023
(in thousands)	Total		Level 1		Level 2		Level 3
Money Market Account (included Cash and Cash Equivalents)	$	9,079	$	9,079	$	—	$	—
U.S. Treasury Securities (included in cash and cash equivalents)	$	20,322	$	20,322	$	—	$	—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Leases - Additional Information (Details) $ in Millions	Dec. 31, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Additional operating leases	$ 44.5
Finance lease expiry	2 years
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	25 years
Lease term	25 years
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year
Lease term	20 years

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

(13)

Income Taxes

As a result of the IPO and the Transactions the Company owns a portion of the common units of the Operating Company, which is treated as a partnership for U.S. federal, and most applicable state and local income tax purposes. As a partnership, the Operating Company is generally not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by the Operating Company is passed through to and included in the taxable income or loss of its members in accordance with the terms of the Operating Agreement. The Company is subject to U.S. federal, state and local income taxes based on its share of the Operating Company’s pass-through taxable income.

The effective tax rate differs from the statutory tax rate primarily due to the Operating Company’s pass-through structure for U.S. income tax purposes.

For the year ended December 31, 2023, the Company did not have any unrecognized tax benefits as a result of tax positions taken during a prior period or during the current period. No interest or penalties have been recorded as a result of tax uncertainties.

Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements, which will result in taxable or deductible amounts in the future.

The following table details the Company’s provision for income taxes. Components of the provision for incomes taxes are as follows:


	Year ended December 31,
(in thousands)	2023			2022
Current tax:
U.S. Federal		(61	)		-
U.S. State and local		(47	)		-
	$	(108	)	$	-

Deferred tax:
U.S. Federal		71			-
U.S. State and local		16			-
	$	87		$	-

Valuation Allowance		—			—
Provision for income taxes	$	(21	)	$	-

The company had an effective tax rate of 0.19% for the year ended December 31, 2023. The reconciliation of the statutory federal income tax rate to the Company’s effective tax rate was as follows:


	Year ended December 31,
	2023			2022
Statutory U.S. federal income tax rate		21.00	%	$	-
State tax, net of federal benefits		0.22	%		-
Non-deductible expenses		0.02	%		-
Non-controlling interest		-20.44	%		-
Tax Credits		-0.61	%		-
State rate change		0.00	%		-
Change in valuation allowance		0.00	%		-
Effective tax rate		0.19	%	N/A

The Company’s income tax expense varies from the expense that would be expected based on statutory rates due principally to income passed through to noncontrolling interests. Prior to the IPO, income taxes for GEN, LLC at the consolidated level were primarily state, and local minimum taxes. Subsequent to the IPO, the Company became a C Corporation subject to federal, state, and local income taxes with respect to its share of net taxable income of GEN, LLC.

Temporary differences and carryforward that give rise to deferred tax assets and liabilities are comprised of the following:


	Year ended December 31,
(in thousands)	2023		2022
Deferred tax assets:
Outside basis differences		12,608		-
State taxes		10		-
Gross deferred tax asset before valuation		12,618		-
Net deferred tax asset	$	12,618	$	-

Net Deferred tax liabilities	$	12,618	$	-

Tax Receivable Agreement (“TRA”)

GEN, Inc. entered into the TRA with the Operating Company and each of the members of the Operating

Company (the “Members”) that provides for the payment by GEN Inc. to the Members of 85% of the amount of tax benefits, if any, that the Company may actually realize (or in some circumstances are deemed to realize) as a result of (i) increases in tax basis resulting from any future redemptions that are funded by GEN Inc. or exchanges of Class A Common Units described above in “Note 1—Organization and Description of Business” and (ii) certain other tax benefits attributable to payments made under the TRA.

The annual tax benefits are computed by calculating the income taxes due including such tax benefits, and the income taxes due without such benefits. The Operating Company expects to benefit from the remaining 15% of any tax benefits that it may actually realize. The TRA payments are not conditioned upon any continued ownership interest in the Operating Company. The rights of each noncontrolling interest holder under the TRA are assignable to transferees of its interest in the Operating Company. The timing and amount of aggregate payments due under the TRA may vary based on a number of factors, including the amount and timing of the taxable income the Operating Company generates each year and the applicable tax rate.

As of December 31, 2023, the Company did not have a liability related to its projected obligations under the TRA. During the year ended December 31, 2023, GEN Inc. did not make any payments to members of the Operating Company pursuant to the TRA.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Subsequent Events

12 Months Ended

Dec. 31, 2023

Subsequent Events [Abstract]

Subsequent Events

(18)

Subsequent Events

The Company and its related parties evaluated subsequent events from the balance sheet date through the date at which the consolidated financial statements were issued.

Store Opening

During the month of February 2024 the Company opened two new restaurants in Dallas, Texas and Seattle, Washington.

Lease Agreements

During January 2024, the Company entered into two lease agreements with third parties for new restaurants in San Antonio, Texas, Pflugerville, Texas and Bayside (Queens), New York for a period of ten years each.

Business Acquisition

Effective February 19, 2024, the Company completed an acquisition to buy out its 50% partner in GKBH Restaurant LLC (“GKBH”). This transaction also included acquiring the rights the partner had to participate in future GEN restaurants in the State of Hawaii. The purchase price for the 50% interest and future rights totaled $6 million. The $3 million of the purchase price was paid at closing and the remaining $3 million is payable in six-months after closing. As of the acquisition date, GKBH will be consolidated into the financial statements of the Company going forward.

Capital Contributions Receivable - Additional Information (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) Restaurants
Subsidiary, Sale of Stock [Line Items]
Capital contribution partners paid	$ 320
GEN Webster and GEN Kapolei [Member]
Subsidiary, Sale of Stock [Line Items]
Capital contributions receivable			$ 60
Number of operations \| Restaurants			2
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Capital contributions receivable collected		$ 60

Leases - Summary of Operating and Finance Lease Activity to the Income Statement and Balance sheet- Weighted Average Remaining Lease Term and Discount Rate (Details)	Dec. 31, 2023
Leases [Abstract]
Operating leases, Weighted Average Remaining Lease Term (Years)	14 years 4 months 24 days
Finance leases, Weighted Average Remaining Lease Term (Years)	9 months 18 days
Operating leases, Weighted Average Discount Rate	5.99%
Finance leases, Weighted Average Discount Rate	7.48%

Related Party Notes Payable

12 Months Ended

Dec. 31, 2023

Related Party Notes Payable

(10)

Related Party Notes Payable

Each of the following entities, GEN Alhambra, GEN Cerritos, GEN Torrance, GEN Rancho Cucamonga, GEN San Jose, GEN Northridge, GEN Chino Hills, GEN Carrolton, GEN Hawaii, GEN Fremont, GEN Online, GEN Concord, GEN Westgate, GEN Mountain View, GEN Sacramento, GEN Pearlridge, GEN Frisco, and GEN Texas (collectively, the “Borrowers”) had notes payable to Ignite Enterprise, LLC, (“Ignite”), an entity owned by Mr. David Kim, our Co-Chief Executive Officer, with similar terms. Each note allowed for draws to be made as individual loans. The total amount of loans under each note payable became due on the fifth anniversary of such note. Maturity dates ranged from January 2020 to December 2025. Interest accrued on each loan using the simple interest method at interest rates ranging from 2.75% to 5.00% of the outstanding principal balance. Interest was paid annually, one year in arrears. Ignite had a security interest in the assets of the Borrowers. There were no financial covenants in the note payable agreements. As of December 31, 2021 the outstanding principal under the Ignite notes payable was $7.7 million. During the month of March 2022, the Company repaid the entire $7.7 million principal balance outstanding on the notes payable. After repaying the notes payable of $7.7 million with Ignite, the Company signed additional note agreements with Ignite in 2022 and the outstanding principal under Ignite notes payable was $1.1 million as of December 31, 2022.

During 2022, the member owners loaned $1.9 million to the Company for the construction and pre-opening costs at the new GEN Webster restaurant location. As of December 31, 2023, the loan balance outstanding was $1.2 million. The loans bear interest of 3.00% per year and mature on November 25, 2023.

In December 2022, the member owners loaned an additional $500 thousand to the Company for construction and pre-opening costs. The loan has a variable interest rate which is defined as the Wall Street Journal Prime Rate plus 1.75%, resulting in an interest rate of 9.25% at December 31, 2022. During January 2023, the Company repaid $500 thousand towards the Note Payable – related party. During March 2023, a member owner loaned another $500 thousand to the Company of which $150 thousand was repaid prior to the IPO and as part of the IPO, the remaining loan balance was repaid in full and immediately contributed to owners’ equity.

The aggregate maturities of notes payable from related parties as of December 31, 2023, are as follows:


(in thousands)	2024	$	1,197
Less current portion of notes payable:		$	(1,197	)
Notes Payable, net of current portion:			—

Interest expense incurred for the related party debt was $133 thousand and $71 thousand for the year ended December 31, 2023 and December 31, 2022, respectively.

Stock-Based Compensation - Summary of Restricted Stock Unit Awards Activity (Details) - RSU shares in Thousands	12 Months Ended
	Dec. 31, 2023 shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted	1,209
Non-vested as of December 31, 2023	1,209

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Related Party Notes Payable - Schedule of Aggregate Maturities of Notes Payable from Related Parties (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Related Party Transaction [Line Items]
2024	$ 165
2025	179
2026	189
Less current portion of notes payable	(165)
Notes Payable, net of current portion	4,547
Related Party
Related Party Transaction [Line Items]
2024	1,197
Less current portion of notes payable	(1,197)
Notes Payable, net of current portion	$ 0

Income Taxes - Schedule of Reconciliation of Statutory Federal Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Statutory U.S. federal income tax rate	21.00%
State tax, net of federal benefits	0.22%
Non-deductible expenses	0.02%
Non-controlling interest	(20.44%)
Tax Credits	(0.61%)
State rate change	0.00%
Change in valuation allowance	0.00%
Effective tax rate	0.19%

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Restricted Stock Unit Awards Activity


	Number of RSUs
RSUs	(Thousands)
Non-vested as December 31, 2022		-
Granted		1,209
Vested		-
Canceled		-
Non-vested as of December 31, 2023		1,209

Notes Payable - Aggregate Maturities of Notes Payable (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Maturities of Long-Term Debt [Abstract]
2024	$ 165
2025	179
2026	189
2027	163
2028	117
Thereafter	3,899
Long term debt	4,712
Less current portion of notes payable	(165)
Long term portion	$ 4,547

Stock-Based Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

(17)

Stock-Based Compensation

In connection with the IPO, the Company has granted restricted stock units (“RSUs”) to certain team members that generally vest on the five year anniversary of the grant date, or over a five year period with vesting of 20% each year. Under the 2023 Equity Incentive Plan (“Equity Plan”), the Company is authorized to issue up to 4,000,000 shares of the Company’s Class A common stock. Certain non-employee directors of the Company received RSUs that vest on the first anniversary of the grant date, subject to the grantee's continued service through the vesting period. Pursuant to the Equity Plan, we awarded 1,208,824 RSUs to certain employees and certain non-employee members of our Board of Directors during July 2023. Grants of RSUs to our Board of Director fully vest on the first anniversary of the grant date, or upon termination from the Board of Directors for any reason other than for cause, a pro rated portion of the shares vest on the termination date. The employee grants vest in increments over a five year period. The total stock based compensation for the year ended December 31, 2023 was $1.5 million included in general and administrative expenses.


	Number of RSUs
RSUs	(Thousands)
Non-vested as December 31, 2022		-
Granted		1,209
Vested		-
Canceled		-
Non-vested as of December 31, 2023		1,209

The aggregate fair value of the RSU's granted during the period was $14.6 million. The unrecognized stock-based compensation of $13.1 will be recognized over five years. The Company issued 372,600 (or 9% of the shares of common stock sold in the offering) warrants in connection with the IPO to the underwriters. The warrants expire five years after the effective date of the registration and can be exercised on a cashless basis. At December 31, 2023 no warrants have been exercised, and 372,600 are outstanding with an exercise price equal to 100% of the initial

public offering price of $12 per share.

Consolidated Balance Sheets (Parenthetical)	Dec. 31, 2023 $ / shares shares
Class A Common Stock
Common stock, par value \| $ / shares	$ 0.001
Common stock, shares authorized	75,000,000
Common stock, shares issued	4,140,000
Common stock, shares outstanding	4,140,000
Class B Common Stock
Common stock, par value \| $ / shares	$ 0.001
Common stock, shares authorized	50,000,000
Common stock, shares issued	28,141,566
Common stock, shares outstanding	28,141,566

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2023	Feb. 21, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Annual Report	true
Document Transition Report	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Registrant Name	GEN Restaurant Group, Inc.
Entity Central Index Key	0001891856
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Public Float			$ 104,153,712
Entity Interactive Data Current	Yes
Securities Act File Number	001-41727
Entity Tax Identification Number	87-3424935
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	11480 South Street Suite 205
Entity Address, City or Town	Cerritos
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90703
City Area Code	(562)
Local Phone Number	356-9929
Title of 12(b) Security	Class A Common stock,par value $0.001 per share
Trading Symbol	GENK
Security Exchange Name	NASDAQ
Documents Incorporated by Reference [Text Block]	Part III hereof incorporates information by reference to the Registrant’s Proxy Statement for the 2024 Annual Meeting of Shareholders.
Auditor Name	Marcum LLP
Auditor Location	Costa Mesa, CA
Auditor Firm ID	688
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		4,419,609
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		27,956,912

Organization and Description of Business - Summary of List of Entities in Operation (Details)	12 Months Ended
	Dec. 31, 2023
GEN Tustin [Member] \| GEN Restaurant Group LLC [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Huntington Beach [Member] \| GEN Restaurant Group LLC [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Oxnard [Member] \| GEN Restaurant Group LLC [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Henderson [Member] \| JC Group International Inc. (S Corp) [Member] \| NV
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN West Covina [Member] \| JC Group International Inc. (S Corp) [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Corona [Member] \| JC Group International Inc. (S Corp) [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Glendale [Member] \| GEN Restaurant Investment LLC [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Fullerton [Member] \| GEN California LLC [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Mira Mesa [Member] \| GEN California LLC [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Tempe [Member] \| GEN Arizona LLC [Member] \| AZ
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Chandler [Member] \| GEN Chandler LLC [Member] \| AZ
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Sahara [Member] \| GEN Nevada LLC [Member] \| NV
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Miracle Mile [Member] \| GEN Nevada LLC [Member] \| NV
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Alhambra [Member] \| GEN Alhambra LLC [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Arlington [Member] \| GEN Arlington, LP [Member] \| TX
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Cerritos [Member] \| GEN Cerritos LLC [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
Gen Cerritos II [Member] \| GEN Cerritos II LP [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Torrance [Member] \| GEN Torrance LLC [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Rancho Cucamonga [Member] \| GEN Rancho Cucamonga LP [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN San Jose [Member] \| GEN San Jose LP [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Northridge [Member] \| GEN Northridge LP [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Chino Hills [Member] \| GEN Chino Hills LP [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Carrollton [Member] \| GEN Carrollton LP [Member] \| TX
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Fort Lauderdale [Member] \| GEN Fort Lauderdale LP [Member] \| FL
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Fremont [Member] \| GEN Fremont LP [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Concord [Member] \| GEN Concord, LP [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Webster [Member] \| GEN Webster, LP [Member] \| TX
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Westgate [Member] \| GEN Westgate, LP [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Westheimer [Member] \| GEN Westheimer, LLC [Member] \| TX
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Manhattan [Member] \| GEN Manhattan NYU, LP [Member] \| NY
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Mountain View [Member] \| GEN Mountain View, LP [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Korean BBQ [Member] \| GKBH Restaurant, LLC [Member] \| HI
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
Investment Company [Member] \| GEN Hawaii, LLC [Member] \| HI
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Management of GKBH
Investment Company [Member] \| GEN Texas, LLC [Member] \| TX
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Management of GEN Houston and GEN Webster
GEN Online [Member] \| GEN Online, LLC [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Website sales
GEN Sacramento [Member] \| GEN Sacramento, LP [Member] \| CA
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Pearlridge [Member] \| GEN Pearlridge, LLC [Member] \| HI
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Kapolei [Member] \| GEN Kapolei, LP [Member] \| HI
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Frisco [Member] \| GEN Frisco, LP [Member] \| TX
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
GEN Houston [Member] \| GEN Houston, LLC [Member] \| TX
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Restaurant
Holding Company [Member] \| GEN Master, LLC [Member] \| NV
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Management
GRM [Member] \| GEN Restaurant Management, LLC [Member] \| DE
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purpose	Management

Equity Method Investment

12 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investment

(7)

Equity Method Investment

On April 1, 2016, GEN Hawaii made an investment of $200 thousand for a 50% interest in GKBH Restaurant LLC (“GKBH”), which operates a GEN restaurant in Hawaii. The Company does not control major operational and financial decisions, which require consent from the other owner. During the year ended December 31, 2023 and 2022, the Company received distributions of $625 thousand and $537 thousand, respectively, from GKBH.

A summary of the GKBH financial position for the years ended December 31, 2023 and December 31, 2022 and results of operations as of December 31, 2023, and December 31, 2022 is as follows (unaudited):


(in thousands)	December 31, 2023		December 31, 2022
Current assets		808		846
Noncurrent assets		2,290		892
Current liabilities		972		367
Noncurrent liabilities		1,064		130


	For the year ended
(in thousands)	December 31, 2023		December 31, 2022
Net sales or gross revenue		7,412		7,316
Operating income		4,967		4,925
Net income		1,071		1,932
Net income attributable to the entity		535		966

Line of Credit - Additional Information (Details) - USD ($)			1 Months Ended	12 Months Ended
	Sep. 29, 2023	Aug. 16, 2023	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Line of Credit Facility [Line Items]
Line of credit matured	Sep. 25, 2024			Sep. 03, 2023
Interest rate, paid		10.25%
Description of periodic payments				Only interest payments were due monthly with the principal balance to be paid in one payment at the maturity date.
Repayments of lines of credit with accrued interest		$ 29,000
Line of credit				$ 0	$ 6,894,000
Initial interest rate	8.75%
Line of credit facility remaining borrowing capacity				$ 20,000,000
Line of Credit \| Wall Street Journal Prime Rate
Line of Credit Facility [Line Items]
Interest rate	0.25%			1.75%
Pacific City Bank
Line of Credit Facility [Line Items]
New line of credit	$ 20,000,000		$ 8,000,000

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Summay of Financial Assets to Fair Value Measurement Valued Using Observable Inputs


			Fair Value Measurements at December 31, 2023
(in thousands)	Total		Level 1		Level 2		Level 3
Money Market Account (included Cash and Cash Equivalents)	$	9,079	$	9,079	$	—	$	—
U.S. Treasury Securities (included in cash and cash equivalents)	$	20,322	$	20,322	$	—	$	—

Organization and Description of Business

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Description of Business

(1) Organization and Description of Business

The accompanying consolidated financial statements represent the consolidated balance sheets, income statements, changes in permanent equity (deficit), and cash flows of GEN Restaurant Group, Inc. (“GEN Inc.”) and its consolidated subsidiaries, including GEN Restaurant Companies, LLC (“GEN LLC”, or the “Operating Company”). Unless the context otherwise requires, references to the “Company” refer to GEN Restaurant Group, Inc., and its consolidated subsidiaries, including the Operating Company. The Company operates restaurants which are located in California, Arizona, Hawaii, Nevada, New York, Texas, and Florida specializing in a variety of special flavored meats for Korean barbeque.

The following tables lists the Company’s entities in operation as of December 31, 2023:


Name	Operating Name	State	Purpose
GEN Restaurant Group, LLC	GEN Tustin	CA	Restaurant
	GEN Huntington Beach	CA	Restaurant
	GEN Oxnard	CA	Restaurant
JC Group International Inc. (S Corp)	GEN Henderson	NV	Restaurant
	GEN West Covina	CA	Restaurant
	GEN Corona	CA	Restaurant
GEN Restaurant Investment, LLC	GEN Glendale	CA	Restaurant
GEN California, LLC	GEN Fullerton	CA	Restaurant
	GEN Mira Mesa	CA	Restaurant
GEN Arizona, LLC	GEN Tempe	AZ	Restaurant
GEN Chandler, LLC	GEN Chandler	AZ	Restaurant
GEN Nevada, LLC	GEN Sahara	NV	Restaurant
	GEN Miracle Mile	NV	Restaurant
GEN Alhambra, LLC	GEN Alhambra	CA	Restaurant
GEN Arlington, LP	GEN Arlington	TX	Restaurant
GEN Cerritos, LLC	GEN Cerritos	CA	Restaurant
GEN Cerritos II, LP	Gen Cerritos II	CA	Restaurant
GEN Torrance, LLC	GEN Torrance	CA	Restaurant
GEN Rancho Cucamonga, LP	GEN Rancho Cucamonga	CA	Restaurant
GEN San Jose, LP	GEN San Jose	CA	Restaurant
GEN Northridge, LP	GEN Northridge	CA	Restaurant
GEN Chino Hills, LP	GEN Chino Hills	CA	Restaurant
GEN Carrollton, LP	GEN Carrollton	TX	Restaurant
GEN Fort Lauderdale, LP	GEN Fort Lauderdale	FL	Restaurant
GEN Fremont, LP	GEN Fremont	CA	Restaurant
GEN Concord, LP	GEN Concord	CA	Restaurant
GEN Webster, LP	GEN Webster	TX	Restaurant
GEN Westgate, LP	GEN Westgate	CA	Restaurant
GEN Westheimer, LLC	GEN Westheimer	TX	Restaurant
GEN Manhattan NYU, LP	GEN Manhattan	NY	Restaurant
GEN Mountain View, LP	GEN Mountain View	CA	Restaurant
GKBH Restaurant, LLC	GEN Korean BBQ	HI	Restaurant
GEN Hawaii, LLC	Investment Company	HI	Management of GKBH
GEN Online, LLC	GEN Online	CA	Website sales
GEN Sacramento, LP	GEN Sacramento	CA	Restaurant
GEN Pearlridge, LLC	GEN Pearlridge	HI	Restaurant
GEN Kapolei, LP	GEN Kapolei	HI	Restaurant
GEN Frisco, LP	GEN Frisco	TX	Restaurant
GEN Houston, LLC	GEN Houston	TX	Restaurant
GEN Texas, LLC	Investment Company	TX	Management of GEN Houston and GEN Webster
GEN Master, LLC	Holding Company	NV	Management
GEN Restaurant Management, LLC	GRM	DE	Management

As of December 31, 2023, the above entities are collectively owned 100% by the controlling group, except for GEN Hawaii. The Company has an equity method investment in GEN Hawaii, with a 50% ownership share. Prior to the IPO (as defined below), an outside investor owned 49% of GEN Houston and GEN Webster, but as of June 30, 2023, they are 100% owned by the Company. On December 31, 2023 and December 31, 2022, there were 37 and 31 restaurants in operation, respectively. During the fourth quarter of 2023, the Company signed two leases for a restaurant in Austin, Texas for a period of 10 years and a lease for another restaurant in Portland, Oregon for a period of 10 years.

Organization

GEN Inc. was formed as a Delaware corporation on October 28, 2021. GEN Inc. is a holding company that was formed for the purpose of completing an underwritten initial public offering (“IPO”) of shares of its Class A common stock (as defined below) and other related Transactions (as defined below) in order to carry on the business of the Operating Company, the predecessor of GEN Inc. for financial reporting purposes. The Operating Company was organized under the laws of the state of Delaware on October 28, 2021, and is based in Cerritos, California. As the managing member of the Operating Company, GEN Inc. operates and controls all the business and affairs of the Operating Company, and through the Operating Company and its consolidated subsidiaries, conducts its business. The authorized shares of GEN Inc. consist of (i) shares of Class A common stock, par value $0.001 per share (the “Class A common stock”) and (ii) shares of Class B common stock, par value $0.001 per share (the “Class B common stock”). See “Initial Public Offering and Organizational Transactions” below for the description of the IPO and the Transactions completed in June 2023.

The Operating Company has been determined to be the predecessor for accounting purposes and, accordingly, the consolidated financial statements for periods prior to the IPO and the related Transactions have been adjusted to combine the previously separate entities for presentation purposes. Amounts for the period from January 1, 2023 through June 27, 2023 presented in the consolidated financial statements and notes to the financial statements herein represent the historical operations of the Operating Company. The amounts for the period from June 28, 2023 through December 31, 2023 reflect the consolidated operations of the Company.

Initial Public Offering and Organizational Transactions

On June 30, 2023, GEN Inc. completed its IPO of 3,600,000 shares of Class A common stock at a public offering price of $12.00 per share. In addition, the underwriters purchased an additional 540,000 shares of Class A common stock from GEN, Inc. pursuant to the exercise of their option to purchase additional shares in the IPO. The sale of shares of Class A common stock by GEN Inc. generated aggregate net proceeds of $46.2 million, after deducting the underwriting discounts and commissions and offering expenses payable by GEN Inc. GEN Inc. contributed all of the net proceeds to the Operating Company in exchange for a number of Class A common units of the Operating Company (“Class A Common Units”) equal to the number of shares of Class A common stock sold by GEN Inc. in the IPO at a price per Class A Common Unit equal to the IPO price per share of Class A common stock. After giving effect to the IPO and the related Transactions and the use of the net proceeds from the IPO, GEN Inc. owns approximately 12.8% of the Operating Company’s outstanding common units. As a result of the IPO, Mr. David Kim and Mr. Jae Chang, Co-CEOs, collectively control approximately 58.6% of GEN Inc.’s common stock as a result of their ownership of GEN LLC’s Class B common units (“Class B Common Units”), which were issued on a one-to-one basis. Each share of Class B common stock is entitled to ten votes on all matters submitted to a vote of GEN Inc.’s stockholders.

As a result of the IPO and the Transactions, GEN Inc. became the managing member of the Operating Company and its principal asset is Class A Common Units of the Operating Company. As the managing member of the Operating Company, GEN Inc. operates and controls all of the business and affairs of the Operating Company, and through the Operating Company and its subsidiaries, conducts its business. Although GEN Inc. has a minority economic interest in the Operating Company, GEN LLC has the sole voting interest in, and controls the management of, the Operating Company, and has the obligation to absorb losses of, and receive benefits from, the Operating Company, which could be significant. GEN Inc. consolidated the Operating Company in its consolidated financial statements and reports a non-controlling interest related to the Class B Common Units held by the members of the Operating Company (other than the Class A Common Units held by GEN Inc.) on its consolidated financial statements. GEN Inc. has a board of directors and executive officers but has no employees. All of the Company’s assets are held by, and all of its operations are conducted through, the Operating Company. All of the Company’s employees are employed by the Operating Company.

In connection with the closing of the IPO, GEN Inc. and the Operating Company consummated the following organizational transactions (collectively, the “Transactions”):

•

The Operating Company adopted the Operating Agreement (the “Operating Agreement”), which converted each member’s existing membership interests in the Operating Company into Class B Common Units, and appointed GEN Inc. as the managing member of the Operating Company;

•

GEN Inc. restated its certificate of incorporation to, among other things, provide for Class A common stock and Class B common stock;

•

GEN Inc. issued and sold 4,140,000 shares of its Class A common stock to the purchasers in the IPO (including the underwriters' option to exercise), and used all of the net proceeds received from the IPO to acquire Class A Common Units from the Operating Company at a purchase price per Class A Common Unit equal to the IPO price per share of Class A common stock, less underwriting discounts and commissions, which Class A Common Units represented approximately 12.8% of the Operating Company’s outstanding common units after the IPO; and

•

GEN Inc. entered into (i) a Tax Receivable Agreement (the “TRA”) with the Operating Company and the Operating Company’s members and (ii) a Registration Rights Agreement (the “Registration Rights Agreement”) with the Operating Company’s members who, assuming that all of the Class B Common Units of such members are redeemed or exchanged for newly-issued shares of Class A common stock on a one-to-one basis, will own an aggregate of 28,141,566 shares of Class A common stock, representing approximately 98.6% of the combined voting power of all of GEN Inc’s common stock. Although the actual timing and amount of any payments that GEN Inc will make to the Operating Company’s members under the TRA will vary, GEN Inc. expects those payments to be significant.

GEN Inc.’s corporate structure following the IPO, as described above, is commonly referred to as an “Up-C” structure, which is often used by partnerships and limited liability companies when they undertake an initial public offering of their business. The Up-C structure allows the members of the Operating Company to continue to realize tax benefits associated with owning interests in an entity that is treated as a partnership, or “pass-through” entity, for income tax purposes following the IPO. One of these benefits is that future taxable income of the Operating Company that is allocated to its members will be taxed on a flow-through basis and therefore will not be subject to corporate taxes at the Operating Company entity level. Additionally, because the members may redeem their Class B Common Units for shares of GEN Inc.'s Class A common stock on a one-for-one basis, the Up-C structure also provides the members with potential liquidity that holders of non-publicly traded limited liability companies are not typically afforded.

GEN Inc. will receive the same benefits as its members because of its ownership of Class A Common Units in an entity treated as a partnership, or “pass-through” entity, for income tax purposes. As GEN Inc. redeems additional Class B Common Units from the Operating Company’s members under the mechanism described above, GEN Inc will obtain a step-up in tax basis in GEN Inc’s share of the Operating Company’s assets. This step-up in tax basis will provide GEN Inc with certain tax benefits, such as future depreciation and amortization deductions that can reduce the taxable income allocable to GEN Inc. GEN Inc. entered into the TRA with the Operating Company and each of the Operating Company’s members, which provides for the payment by GEN Inc to the Operating Company’s members of 85% of the amount of tax benefits, if any, that GEN Inc. actually realizes (or in some cases, is deemed to realize) as a result of (i) increases in tax basis resulting from the redemption of Class B Common Units and (ii) certain other tax benefits attributable to payments made under the TRA.

As a result of the completion of the Transactions, including the IPO:

•

GEN Inc. is a holding company and its principal asset is the Class A Common Units it holds in the Operating Company;

•

GEN Inc. is the managing member of the Operating Company and controls the business and affairs of the Operating Company and its subsidiaries;

•

The purchasers in the IPO (i) purchased 4,140,000 shares of Class A common stock, representing approximately 1.4% of the combined voting power of all of GEN Inc.’s common stock, and own 100% of the economic interest in GEN Inc.

•

GEN Inc. owns all of the Class A Common Units of GEN LLC, representing approximately 12.8% of the distributions made by GEN LLC. While this interest represents a minority of economic interests in GEN LLC, it represents 100% of the voting interests, and GEN Inc. acts as the managing member of GEN LLC. As a result, GEN Inc. operates and controls all of GEN LLC’s business and affairs and is able to consolidate its financial results into GEN Inc.’s financial statements.

•

The members of GEN LLC other than GEN Inc. are certain historic owners of GEN Restaurant Group, all of whom, in the aggregate, own 28,141,566 Class B Common Units of GEN LLC and 28,141,566 shares of Class B common stock of GEN Inc.

Property and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

(6)

Property and Equipment, Net

The costs and related accumulated depreciation and amortization of major classes of property:


	For the year ended
(in thousands)	December 31, 2023			December 31, 2022
Equipment		12,387			9,578
Furniture and fixtures		5,467			4,050
Leasehold improvements		43,022			32,157
Other assets		414			448
Construction in progress		4,894			2,435
	$	66,184		$	48,668
Less accumulated depreciation and amortization		(32,277	)		(27,385	)
Property and Equipment, Net	$	33,907		$	21,283

The construction in progress balance on December 31, 2023 and 2022 is related to new stores being developed as of such dates for subsequent openings.

Total depreciation and amortization for the year ended December 31, 2023 and December 31, 2022 was $4.9 million and $4.4 million, respectively, of which $147 thousand and $179 thousand for those periods were related to assets acquired under a finance lease.

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Investments in Debt Securities


	Carrying Value/Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value as of December 31, 2023
(in thousands)
Money Market Account (included Cash and Cash Equivalents)	$	9,079	$	—	$	—	$	9,079
U.S. Treasury Securities (included in cash and cash equivalents)	$	20,000	$	322	$	—	$	20,322
	$	29,079	$	322	$	—	$	29,401
Represent money market accounts. Excludes $2.5 million of cash and cash equivalents at December 31, 2023.

Estimated Useful Service Lives

The estimated useful service lives are as follows:


Equipment		5 - 7 Years
Furniture and fixtures		5 - 7 Years
Leasehold improvements		Shorter of useful life or remaining lease term

Other Assets and Other Current Liabilities

Other assets as of December 31, 2023 and December 31, 2022 consist of the following:


(in thousands)	December 31, 2023		December 31, 2022
Other Assets
Security Deposits	$	533	$	444
Liquor Licenses		215		224
Other		1		15
Total Other Assets	$	749	$	683

Other Current Liabilities as of December 31, 2023 and December 31, 2022 consist of the following:


(in thousands)	December 31, 2023		December 31, 2022
Other Current Liabilities
Sales tax payable	$	1,447	$	1,468
Accrued percentage rent		1,163		1,246
Deferred offering costs		125		319
Misc. accrued expenses		2,631		1,591
Total Other Current Liabilities	$	5,366	$	4,624

Reconciliation of Total Interest Cost to Interest Expense

A reconciliation of total interest cost to interest expense as reported in the consolidated income statement for the years ended December 31, 2023and December 31, 2022 is as follows:


	For the year ended
(in thousands)	December 31, 2023			December 31, 2022
Interest expense	$	617		$	817
PPP interest expense forgiven		—			(4	)
Interest income		(964	)		(179	)
Interest (income) expense, net	$	(347	)	$	634

- Definition

Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

+ Details

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Deferred tax assets:
Outside Basis Differences	$ 12,608
State taxes	10
Gross deferred tax asset before valuation	12,618
Deferred Tax Assets, Net of Valuation Allowance, Total	12,618
Deferred tax liabilities:
Net Deferred tax liabilities	$ 12,618

Leases - Schedule Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
2024	$ 10,850
2025	11,282
2026	11,486
2027	11,684
2028	11,844
Thereafter	117,967
Total undiscounted lease payments	175,113
Present value discount/interest	(60,077)
Present value	115,036
Lease liabilities, current	4,535	$ 4,096
Lease liabilities, net of current	110,501	100,872
Total operating lease liabilities	115,036	104,968
Finance Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
2024	126
2025	2
2026	0
2027	0
2028	0
Thereafter	0
Total undiscounted lease payments	128
Present value discount/interest	(3)
Present value	125
Lease liabilities, current	124	134
Lease liabilities, net of current	1	185
Total finance lease liabilities	$ 125	$ 319

Fair Value of Financial Instruments - Summay of Financial Assets to Fair Value Measurement Valued Using Observable Inputs (Details) - Fair Value Recurring $ in Thousands	Dec. 31, 2023 USD ($)
U.S. Treasury Securities (included in cash and cash equivalents)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 20,322
Money Market Accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	9,079
Level 1 \| U.S. Treasury Securities (included in cash and cash equivalents)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	20,322
Level 1 \| Money Market Accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	9,079
Level 2 \| U.S. Treasury Securities (included in cash and cash equivalents)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 0

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Summary of Costs and Related Accumulated Depreciation and Amortization

The costs and related accumulated depreciation and amortization of major classes of property:


	For the year ended
(in thousands)	December 31, 2023			December 31, 2022
Equipment		12,387			9,578
Furniture and fixtures		5,467			4,050
Leasehold improvements		43,022			32,157
Other assets		414			448
Construction in progress		4,894			2,435
	$	66,184		$	48,668
Less accumulated depreciation and amortization		(32,277	)		(27,385	)
Property and Equipment, Net	$	33,907		$	21,283

Non-Controlling Interest	12 Months Ended
Non-Controlling Interest	Dec. 31, 2023
Noncontrolling Interest [Abstract]
Non-Controlling Interest	(14) Non-Controlling Interest As discussed in “Note 1 – Organization and Description of Business,” the Company consolidates the financial results of the Operating Company and reports a non-controlling interest related to the Class B Common Units held by non-controlling interest holders on its consolidated statements. As of December 31, 2023, the Company owned 12.8% of the economic interests in the Operating Company, with the remaining 87.2% of the economic interest owned by non-controlling interest holders. The non-controlling interests on the accompanying consolidated income statement represents the portion of the income attributable to the economic interests in the OperatingCompany held by the non-controlling holders of Class B Common Units calculated based on the weighted average non-controlling interests’ ownership during the periods presented.

Notes Receivable from Related Party - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Related Party Transaction [Line Items]
Additional Loans to Related Party				$ 2,100
Interest income earned from related parties		$ 964	$ 179
Related Party
Related Party Transaction [Line Items]
Notes receivable from related party		$ 0	10,900
Interest income earned from related parties	$ 172		$ 164

- Definition

Amount of operating interest income, including, but not limited to, amortization and accretion of premiums and discounts on securities.

+ References + Details

Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 4,892	$ 4,353
Depreciation and amortization related to finance lease	$ 147	$ 179

Equity Method Investment (Tables)

12 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Summary of GKBH financial position and results of operations


(in thousands)	December 31, 2023		December 31, 2022
Current assets		808		846
Noncurrent assets		2,290		892
Current liabilities		972		367
Noncurrent liabilities		1,064		130


	For the year ended
(in thousands)	December 31, 2023		December 31, 2022
Net sales or gross revenue		7,412		7,316
Operating income		4,967		4,925
Net income		1,071		1,932
Net income attributable to the entity		535		966

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Investments in Debt Securities (Parenthetical) (Details) $ in Millions	Dec. 31, 2023 USD ($)
Accounting Policies [Abstract]
Cash and cash equivalents of money market accounts	$ 2.5

Notes Payable (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Aggregate Maturities of Notes Payable

The aggregate maturities of all third party notes payable as of December 31, 2023 are as follows:


(in thousands)
2024	$	165
2025		179
2026		189
2027		163
2028		117
Thereafter		3,899
	$	4,712
Less current portion of notes payable		(165	)
Long term portion	$	4,547

Property and Equipment, Net - Summary of Costs and Related Accumulated Depreciation and Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 66,184	$ 48,668
Less accumulated depreciation and amortization	(32,277)	(27,385)
Property and equipment, net	33,907	21,283
Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	12,387	9,578
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	5,467	4,050
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	43,022	32,157
Other Assets
Property, Plant and Equipment [Line Items]
Property and equipment, gross	414	448
Construction in Progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,894	$ 2,435

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Investments in Debt Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Held-to-Maturity Securities [Line Items]
Cash and Cash Equivalents, Carrying Value/Amortized Cost	$ 32,631	$ 11,195
Investments, Carrying Value/Amortized Cost	29,079
Investments, Gross Unrealized Gains	322
Investments, Fair Value	29,401
U.S. Treasury Securities (included in cash and cash equivalents)
Schedule of Held-to-Maturity Securities [Line Items]
Investments, Carrying Value/Amortized Cost	20,000
Investments, Gross Unrealized Gains	322
Investments, Fair Value	20,322
Money Market Accounts
Schedule of Held-to-Maturity Securities [Line Items]
Cash and Cash Equivalents, Carrying Value/Amortized Cost	9,079
Cash and Cash Equivalents, Fair Value	$ 9,079

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

+ Details

Leases - Gross Amounts of Property and Equipment and Related Accumulated Depreciation and Amortization Recorded under Finance Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization [Abstract]
Property and equipment	$ 902	$ 905
Less accumulated depreciation and amortization	(861)	(714)
Property and equipment, net	$ 41	$ 191

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	12 Months Ended
	Jun. 30, 2023	Jul. 31, 2023	Dec. 31, 2023
General and Administrative Expenses
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock based compensation expense			$ 1.5
Equity Plan \| Class A Common Stock \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Authorized shares	4,000,000
RSU
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	5 years
RSUs awarded			1,209,000
Aggregate fair value of RSU's granted			$ 14.6
Unrecognized stock-based compensation			$ 13.1
Unrecognized stock-based compensation period for recognition			5 years
RSU \| Equity Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
RSUs awarded		1,208,824
RSU \| Over a Five Year
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	5 years
Vesting rights percentage	20.00%
Employee
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period			5 years
Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of stock converted as warrants	372,600
Percentage of stock issued to underwriter as warrant	9.00%
Warrants expire years	5 years
Warrants exercised			0
Warrants outstanding			372,600
Percentage of exercise price equal to initial public offering price			100.00%
Offering price			$ 12