Executive Summary

Q1 2025 revenue grew 24.9% YoY to $3.51M, driven primarily by the three Las Vegas restaurants acquired in Q2 2024; however, revenue declined sequentially from Q4 2024’s $3.69M and profitability deteriorated back to a loss .
Net loss widened to $(1.42)M (basic/diluted EPS $(0.96)), versus $(0.88)M (EPS $(0.65)) in Q1 2024 and $0.54M net income in Q4 2024, reflecting higher G&A and interest expenses; operating loss was $(1.27)M versus $(0.77)M a year ago .
Balance sheet and listing status improved: cash increased to $3.01M and stockholders’ equity to $4.14M at 3/31/25; company regained compliance with Nasdaq’s stockholders’ equity requirement following financing commitments and debt conversion .
No formal quantitative guidance or call transcript was available; management reiterated expansion (2–3 new U.S. locations, international openings) and efficiency initiatives (kiosks, cooking robots) as catalysts to improve top- and bottom-line performance .
Wall Street consensus (S&P Global) for Q1 2025 EPS and revenue was unavailable; therefore, beat/miss versus estimates cannot be determined (S&P Global mapping for YOSH not found).

What Went Well and What Went Wrong

What Went Well
- Strong top-line growth: Q1 2025 revenue +24.9% YoY to $3.51M, driven by the three Las Vegas restaurants acquired in Q2 2024 .
- Balance sheet and listing compliance: $3.56M financing commitments and $2.5M debt-to-equity conversion supported regaining Nasdaq equity compliance; cash rose to $3.01M at quarter-end .
- Strategic expansion and efficiency focus: Menifee, CA opening brought U.S. locations to 15; CEO emphasized “diversifying our mix of service channels, adding kiosks across our stores, and utilizing cooking robots to reduce labor costs” to drive growth and efficiency .
What Went Wrong
- Profitability deterioration: Operating loss widened to $(1.27)M vs $(0.77)M YoY; net loss widened to $(1.42)M vs $(0.88)M YoY; net restaurant operating income fell to $94.5K vs $224.6K YoY .
- Cost pressure and overhead: G&A rose to $1.27M from $0.92M YoY, primarily on higher professional fees; interest expense rose to $341K from $104K YoY, reflecting higher debt servicing .
- Sequential step-down from seasonally strong Q4: after Q4 revenue of ~$3.69M and $0.54M net income, Q1 reverted to losses, underscoring sensitivity to fixed costs and financing burden .

Financial Results

Metric	Q1 2024	Q3 2024	Q4 2024	Q1 2025
Revenue ($)	$2,811,609	$3,015,525	$3,686,607 (FY $12,839,137 − 9M $9,152,530)	$3,511,789
Net Income ($)	$(876,205)	$(884,943)	$537,268 (FY $(2,665,869) − 9M $(3,203,137))	$(1,424,886)
Diluted EPS ($)	$(0.65)	$(0.67)	N/A	$(0.96)
Net Income Margin (%)	(31.2%)	(29.3%)	14.6%	(40.6%)

Operating Details	Q1 2024	Q3 2024	Q4 2024	Q1 2025
Net Restaurant Operating Income ($)	$224,572	$(41,063)	$459,? Note: not disclosed	$94,501
Total Restaurant Operating Expenses ($)	$2,587,037	$3,056,588	N/A	$3,417,288
G&A ($)	$920,401	$941,701	$877,921 (FY $3,831,676 − 9M $2,953,755)	$1,265,157
Operating Income (Loss) ($)	$(771,887)	$(1,049,045)	$213,280 (FY $(2,555,029) − 9M $(2,768,309))	$(1,273,597)
Interest Expense ($)	$104,318	$161,472	N/A	$341,347

Notes: Company operates a single reportable segment (stores); no segment breakdown provided .

KPIs and Balance Sheet Snapshots

Locations at period-end: 15 U.S. locations (Menifee opening in Q1) .
Cash and equivalents: $3,011,038 at 3/31/25 .
Stockholders’ equity: $4,144,513 at 3/31/25 (regained Nasdaq equity compliance) .

Guidance Changes

Metric	Period	Previous Guidance	Current Guidance	Change
Revenue	FY 2025	None	None	Maintained: no formal quantitative guidance
Margins/OpEx/Tax	FY 2025	None	None	Maintained: no formal quantitative guidance
Expansion	2025	2–3 new U.S. locations; initiate franchise sales	Reiterated 2–3 U.S. locations; international targets (Paris, London, South Korea); franchise sales initiation expected 2025	Maintained directional expansion plan

Earnings Call Themes & Trends

No Q1 2025 earnings call transcript was available in our document set; themes below reflect management commentary from Q4 2024 and Q1 2025 press releases.

Topic	Previous Mentions (Q3 2024, Q4 2024)	Current Period (Q1 2025)	Trend
Technology/Automation	Exploring service-channel diversification and brand initiatives; Q4: “adding kiosks…utilizing cooking robots to reduce labor costs”	Reiterated kiosks and cooking robots to reduce labor costs, boost efficiency	Increasing automation focus
Supply chain/input inflation	Q4: headwinds from input costs noted	Not newly highlighted in Q1 PR beyond cost controls	Persistent, monitored
Macro/consumer	Q4: consumer price sensitivity; higher cost of capital	Emphasis on financing actions and cost control	Ongoing pressure
Product/format performance	LV acquisitions drove growth; diversified channels including takeout/delivery	LV restaurants again cited as main driver of growth	LV units remain growth engine
Regional expansion	Q4: Menifee and San Clemente openings; Ontario under development; China MoUs	Menifee open (15 total); Ontario under development; international openings targeted	Continued expansion
Regulatory/listing	Regained Nasdaq equity compliance (Mar 27 notification)	Compliance reiterated in Q1 results	Resolved (monitor equity levels)

Management Commentary

“Revenue grew 25% to $3.5 million, driven primarily by sales at our three new restaurants in Las Vegas…” .
“We secured financing commitments of $3.56 million…[and] converted $2.5 million of existing debt…regain[ing] compliance with Nasdaq’s minimum stockholders’ equity requirement.” .
“New initiatives such as diversifying our mix of service channels, adding kiosks across our stores, and utilizing cooking robots to reduce labor costs will further growth and efficiencies.” .
Q4 tone (context for trajectory): “47% revenue growth to $3.7 million and net income of $0.5 million…driven by…new U.S. locations…[while] maintaining a strong AUV comparable to previous periods, despite…input costs, consumer price sensitivity, and higher cost of capital.” .

Q&A Highlights

No Q1 2025 earnings call transcript was found in our document set. We cannot provide Q&A highlights or clarifications beyond press release commentary [ListDocuments: 0 earnings-call-transcript results].

Estimates Context

S&P Global consensus estimates for Q1 2025 EPS and revenue were unavailable (missing company mapping), so we cannot assess beats/misses versus Street expectations at this time. If/when mapping is established, we can refresh to benchmark reported results accordingly.

Key Takeaways for Investors

Revenue trajectory remains upward YoY but sequentially softer from a strong Q4; profitability is the swing factor as fixed costs and interest expense weigh—operating leverage and cost controls are critical near term .
Financing/debt conversion actions materially improved equity and liquidity, removing a listing overhang and enabling expansion, but raise investor focus on capital allocation discipline and dilution risk from equity financing .
Las Vegas restaurants are the primary growth driver; monitor their sustainability and contribution margin as management rolls out kiosks and robotics to tame labor costs .
With no formal guidance or consensus available, set expectations around operational KPIs (unit adds, AUV trends, restaurant-level contribution) and quarterly cadence post-seasonally strong Q4 .
Expansion pipeline (2–3 U.S. units; initial franchise sales; international entries) can re-rate the story if execution improves margins and cash generation; otherwise, higher G&A and interest costs risk prolonging losses .
Near-term trading: stock likely keys off execution evidence (traffic, margin progress, unit economics) and additional financing developments; medium-term thesis depends on replicable unit growth with labor/productivity tech offsetting cost inflation .

Supporting documents: Q1 2025 earnings 8-K/Exhibit 99 (May 5–6, 2025) ; Q4/FY 2024 corporate update (Apr 2, 2025) ; Nasdaq compliance 8-K (Mar 31, 2025) ; Q3 2024 10-Q (Nov 19, 2024) .

Yoshiharu Global Co. (YOSH)·Q1 2025 Earnings Summary