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KONA GRILL INC

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2018 10-K, filed Apr 16, 2019. Its latest SEC filing is a SC 13G/A from Feb 13, 2020.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Runs upscale casual restaurants serving contemporary American food, sushi and drinks to diners, and franchises its restaurant concept to international operators.

How Did They Make Money?

Diners pay for food, drinks and alcohol at the point of sale. Franchise partners pay upfront territory and franchise fees, plus royalties and advertising fees tied to restaurant sales.

FY2018 revenue

Who Were Their Customers?

Diners visit the restaurants, order online or through third-party delivery services, and can arrange catering or group dining.

Did Revenues Turn Into Profits?

No. It lost $32M in FY2018.

Operating income, FY2018
−19% of revenue
▲ +40% (Loss) vs FY2017 (−$21.1M, −12%)
Net income, FY2018
−20% of revenue
▲ +36% (Loss) vs FY2017 (−$23.4M, −13%)
Free cash flow, FY2018
−2% of revenue
▼ −44% (Loss) vs FY2017 (−$5.9M, −3%)

How Were They Changing?

Since the FY2018 annual report
  • Oct 15, 2019 Sold substantially all company assets The sale to Kona Grill Acquisition, LLC closed on October 4, 2019.
  • May 1, 2019 Filed for Chapter 11 bankruptcy The company and eight subsidiaries filed voluntary Chapter 11 petitions on April 30, 2019.

Grew. Revenue grew 10% in 3 years, from $143M in FY2015 to $156.9M in FY2018, about 3% a year.

International franchising The older report described international franchising as a growth plan; the latest describes international restaurants operating under franchise agreements.

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