Yoshiharu Global Co. reported its financial results for the first quarter ended March 31, 2025, on May 5, 2025. Revenues increased by 24.9% to $3.5 million, up from $2.8 million in the prior-year period, primarily driven by sales from three new Las Vegas restaurants acquired in Q2 2024.
Total restaurant operating expenses increased to $3.4 million from $2.6 million in Q1 2024, mainly due to costs associated with the increased revenues from the new Las Vegas locations. General and administrative expenses also rose to $1.3 million from $0.9 million, primarily due to increased professional fees.
The operating loss for Q1 2025 increased to $1.3 million compared to an operating loss of $0.8 million in the prior year. However, the company's cash balance significantly increased to $3.40 million as of March 31, 2025, from $1.24 million at December 31, 2024, reflecting recent financing activities.
Yoshiharu secured $3.56 million in financing commitments and converted $2.5 million in debt to equity during the quarter, which helped regain compliance with Nasdaq's minimum stockholders' equity requirement. The company also noted its newest Menifee, CA location is operational, bringing its U.S. total to 15 locations.
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