Kura Sushi USA Announces Fiscal Third Quarter 2025 Financial Results
Kura Sushi USA (NASDAQ: KRUS) reported its fiscal Q3 2025 results with total sales of $74.0 million, up from $63.1 million in Q3 2024. Despite a 2.1% decrease in comparable restaurant sales, the company improved its bottom line, posting a net income of $0.6 million ($0.05 per diluted share) compared to a net loss of $0.6 million in the prior year.
The company demonstrated operational efficiency with restaurant-level operating profit of $13.5 million (18.2% of sales) and Adjusted EBITDA of $5.4 million. During Q3, Kura Sushi opened three new restaurants in Arizona, Washington, and Texas, maintaining its expansion strategy. The company updated its FY2025 guidance, projecting total sales of approximately $281 million and plans to open 15 new restaurants with an annual unit growth rate above 20%.
Kura Sushi USA (NASDAQ: KRUS) ha riportato i risultati del terzo trimestre fiscale 2025 con vendite totali pari a 74,0 milioni di dollari, in aumento rispetto ai 63,1 milioni di dollari del terzo trimestre 2024. Nonostante una diminuzione del 2,1% nelle vendite comparabili dei ristoranti, l'azienda ha migliorato il risultato netto, registrando un utile netto di 0,6 milioni di dollari (0,05 dollari per azione diluita) rispetto a una perdita netta di 0,6 milioni dell'anno precedente.
L'azienda ha dimostrato efficienza operativa con un utile operativo a livello di ristorante di 13,5 milioni di dollari (18,2% delle vendite) e un EBITDA rettificato di 5,4 milioni di dollari. Nel corso del terzo trimestre, Kura Sushi ha aperto tre nuovi ristoranti in Arizona, Washington e Texas, mantenendo la sua strategia di espansione. L'azienda ha aggiornato le previsioni per l'anno fiscale 2025, prevedendo vendite totali di circa 281 milioni di dollari e pianificando l'apertura di 15 nuovi ristoranti con un tasso di crescita annuale delle unit脿 superiore al 20%.
Kura Sushi USA (NASDAQ: KRUS) present贸 sus resultados del tercer trimestre fiscal de 2025 con ventas totales de 74,0 millones de d贸lares, frente a 63,1 millones en el tercer trimestre de 2024. A pesar de una disminuci贸n del 2,1% en las ventas comparables de restaurantes, la compa帽铆a mejor贸 su resultado neto, registrando un ingreso neto de 0,6 millones de d贸lares (0,05 d贸lares por acci贸n diluida) en comparaci贸n con una p茅rdida neta de 0,6 millones el a帽o anterior.
La empresa demostr贸 eficiencia operativa con un beneficio operativo a nivel de restaurante de 13,5 millones de d贸lares (18,2% de las ventas) y un EBITDA ajustado de 5,4 millones de d贸lares. Durante el tercer trimestre, Kura Sushi abri贸 tres nuevos restaurantes en Arizona, Washington y Texas, manteniendo su estrategia de expansi贸n. La compa帽铆a actualiz贸 su gu铆a para el a帽o fiscal 2025, proyectando ventas totales de aproximadamente 281 millones de d贸lares y planea abrir 15 nuevos restaurantes con una tasa de crecimiento anual de unidades superior al 20%.
Kura Sushi USA (NASDAQ: KRUS)電� 2025 須岅硠鞐半弰 3攵勱赴 鞁れ爜鞚� 氚滍憸頃橂┌ 齑� 毵れ稖 7,400毵� 雼煬毳� 旮半頃� 2024雲� 3攵勱赴鞚� 6,310毵� 雼煬鞐愳劀 歃濌皜頄堨姷雼堧嫟. 牍勱祼 臧�電ロ暅 霠堨姢韱犽瀾 毵れ稖鞚� 2.1% 臧愳唽頄堨潓鞐愲弰 攵堦惮頃橁碃, 须岇偓电� 靾滌啇鞁� 60毵� 雼煬鞐愳劀 靾滌澊鞚� 60毵� 雼煬(頋劃 欤茧嫻 0.05雼煬)搿� 靾滌澊鞚奠潉 臧滌劆頄堨姷雼堧嫟.
须岇偓电� 霠堨姢韱犽瀾 雼渼 鞓侅梾鞚挫澋 1,350毵� 雼煬(毵れ稖鞚� 18.2%)鞕赌 臁办爼 EBITDA 540毵� 雼煬毳� 旮半頃橂┌ 鞖挫榿 須湪靹膘潉 鞛呾頄堨姷雼堧嫟. 3攵勱赴 霃欖晥 Kura Sushi電� 鞎犽Μ臁半倶, 鞗岇嫳韯�, 韰嶌偓鞀れ棎 3臧滌潣 鞁犼窚 霠堨姢韱犽瀾鞚� 鞓ろ攬頃橂┌ 頇曥灔 鞝勲灥鞚� 鞙犾頄堨姷雼堧嫟. 须岇偓电� 2025 須岅硠鞐半弰 臧�鞚措崢鞀るゼ 鞐呺嵃鞚错姼頃橃棳 齑� 毵れ稖 鞎� 2鞏� 8,100毵� 雼煬毳� 鞓堨儊頃橁碃 鞐瓣皠 雼渼 靹膘灔毳� 20% 鞚挫儊鞙茧 15臧滌潣 鞁犼窚 霠堨姢韱犽瀾 臧滌劋鞚� 瓿勴殟頃橁碃 鞛堨姷雼堧嫟.
Kura Sushi USA (NASDAQ : KRUS) a publi茅 ses r茅sultats pour le troisi猫me trimestre fiscal 2025 avec des ventes totales de 74,0 millions de dollars, en hausse par rapport 脿 63,1 millions de dollars au troisi猫me trimestre 2024. Malgr茅 une baisse de 2,1 % des ventes comparables des restaurants, la soci茅t茅 a am茅lior茅 son r茅sultat net, enregistrant un b茅n茅fice net de 0,6 million de dollars (0,05 dollar par action dilu茅e) contre une perte nette de 0,6 million l'ann茅e pr茅c茅dente.
La soci茅t茅 a d茅montr茅 une efficacit茅 op茅rationnelle avec un r茅sultat op茅rationnel au niveau des restaurants de 13,5 millions de dollars (18,2 % des ventes) et un EBITDA ajust茅 de 5,4 millions de dollars. Au cours du troisi猫me trimestre, Kura Sushi a ouvert trois nouveaux restaurants en Arizona, Washington et Texas, poursuivant sa strat茅gie d'expansion. La soci茅t茅 a mis 脿 jour ses pr茅visions pour l'exercice 2025, pr茅voyant des ventes totales d'environ 281 millions de dollars et pr茅voit d'ouvrir 15 nouveaux restaurants avec un taux de croissance annuel des unit茅s sup茅rieur 脿 20 %.
Kura Sushi USA (NASDAQ: KRUS) meldete seine Ergebnisse f眉r das dritte Quartal des Gesch盲ftsjahres 2025 mit Gesamtumsatz von 74,0 Millionen US-Dollar, gegen眉ber 63,1 Millionen US-Dollar im dritten Quartal 2024. Trotz eines R眉ckgangs der vergleichbaren Restaurantums盲tze um 2,1% verbesserte das Unternehmen sein Ergebnis und erzielte einen Nettoertrag von 0,6 Millionen US-Dollar (0,05 US-Dollar pro verw盲sserter Aktie) im Vergleich zu einem Nettoverlust von 0,6 Millionen im Vorjahr.
Das Unternehmen zeigte operative Effizienz mit einem Betriebsergebnis auf Restaurantebene von 13,5 Millionen US-Dollar (18,2% des Umsatzes) und einem bereinigten EBITDA von 5,4 Millionen US-Dollar. Im dritten Quartal er枚ffnete Kura Sushi drei neue Restaurants in Arizona, Washington und Texas und setzte damit seine Expansionsstrategie fort. Das Unternehmen aktualisierte seine Prognose f眉r das Gesch盲ftsjahr 2025 und erwartet Gesamtums盲tze von etwa 281 Millionen US-Dollar sowie die Er枚ffnung von 15 neuen Restaurants mit einer j盲hrlichen Wachstumsrate der Einheiten von 眉ber 20%.
- Total sales increased 17.3% year-over-year to $74.0 million
- Net income improved to $0.6 million from a $0.6 million loss year-over-year
- Food and beverage costs decreased to 28.3% from 29.2% of sales
- General and administrative expenses decreased to 11.8% from 14.0% of sales
- Strong unit expansion with three new restaurants opened in Q3 and two more post-quarter
- Comparable restaurant sales decreased 2.1% with negative traffic of 2.9%
- Operating loss of $0.2 million, though improved from $1.2 million loss year-over-year
- Labor costs increased to 33.1% from 32.6% of sales due to wage rate increases
- Restaurant-level operating profit margin declined to 18.2% from 20.0% year-over-year
Insights
Kura Sushi delivered improved profitability despite negative comparable sales, shifting from loss to profit while continuing aggressive expansion.
Kura Sushi's Q3 2025 results present a mixed picture with encouraging profitability improvements despite softening demand. Total sales grew
The most significant positive development is the company's transition to profitability with
Food costs improved to
The company maintained its aggressive expansion strategy, opening three new locations during Q3 and two more after quarter-end. Management affirmed its full-year guidance of approximately
The negative comparable sales trend bears watching, as sustained traffic declines could eventually pressure margins despite effective cost controls. However, the successful transition to profitability during this challenging period demonstrates operational resilience and execution.
IRVINE, Calif., July 08, 2025 (GLOBE NEWSWIRE) -- Kura Sushi USA, Inc. (鈥淜ura Sushi鈥� or the 鈥淐ompany鈥�) (NASDAQ: KRUS), a technology-enabled Japanese restaurant concept, today announced financial results for the fiscal third quarter ended May 31, 2025.
Fiscal Third Quarter 2025 Highlights
- Total sales were
$74.0 million , compared to$63.1 million in the third quarter of 2024; - Comparable restaurant sales decreased
2.1% for the third quarter of 2025 as compared to the third quarter of 2024; - Operating loss was
$0.2 million , compared to an operating loss of$1.2 million in the third quarter of 2024; - Net income was
$0.6 million , or$0.05 per diluted share, compared to net loss of$0.6 million , or$(0.05) per diluted share, in the third quarter of 2024; - Adjusted net income* was
$0.6 million , or$0.05 per diluted share, compared to an adjusted net income* of four thousand dollars or$0.00 per diluted share, in the third quarter of 2024; - Restaurant-level operating profit* was
$13.5 million , or18.2% of sales; - Adjusted EBITDA* was
$5.4 million ; and - Three new restaurants opened during the fiscal third quarter of 2025.
*Adjusted net income (loss), Restaurant-level operating profit and Adjusted EBITDA are non-GAAP measures and are defined below under 鈥淜ey Financial Definitions.鈥� Please see the reconciliation of non-GAAP measures accompanying this release. See also 鈥淣on-GAAP Financial Measures鈥� below.
Hajime Uba, President and Chief Executive Officer of Kura Sushi, stated, 鈥淭he third quarter was a very busy one for us, between rolling out the new reservation system, investigating new market opportunities, and building out our IP pipeline and strategizing on how to get the most out of our Bikkurapon collaborations. I鈥檓 extremely pleased with the results on all three fronts, and very proud of the efforts by our team members to capture the full opportunity of the summer season and set ourselves up for a great fiscal 2026.鈥�
Review of Fiscal Third Quarter 2025 Financial Results
Total sales were
Food and beverage costs as a percentage of sales were
Labor and related costs as a percentage of sales were
Occupancy and related expenses were
Other costs as a percentage of sales were
General and administrative expenses were
Operating loss was
Income tax expense was
Net income was
Adjusted net income* was
Restaurant-level operating profit* was
Adjusted EBITDA* was
Restaurant Development
During the fiscal third quarter of 2025, the Company opened three new restaurants in Scottsdale, Arizona; Lynnwood, Washington; and McKinney, Texas. Subsequent to May 31, 2025, the Company opened two new restaurants in The Woodlands, Texas and Salt Lake City, Utah.
Fiscal Year 2025 Outlook
For the full fiscal year of 2025, the Company updates the following annual guidance:
- Total sales of approximately
$281 million ; - 15 new restaurants, maintaining an annual unit growth rate above
20% , with average net capital expenditures per unit of approximately$2.5 million ; and - General and administrative expenses as a percentage of sales to be below
13.0% exclusive of legal settlements.
Conference Call
A conference call and webcast to discuss Kura Sushi鈥檚 financial results is scheduled for 5:00 p.m. EDT today. Hosting the conference call and webcast will be Hajime 鈥淛immy鈥� Uba, President and Chief Executive Officer, Jeff Uttz, Chief Financial Officer, and Benjamin Porten, SVP Investor Relations & System Development.
Interested parties may listen to the conference call via telephone by dialing 201-689-8471. A telephone replay will be available shortly after the call has concluded and can be accessed by dialing 412-317-6671; the passcode is 13751708. The webcast will be available at under the investor relations section and will be archived on the site shortly after the call has concluded.
About Kura Sushi USA, Inc.
Kura Sushi USA, Inc. is a leading technology-enabled Japanese restaurant concept with 78 locations across 21 states and Washington DC. The Company offers guests a distinctive dining experience built on authentic Japanese cuisine and an engaging revolving sushi service model. Kura Sushi USA, Inc. was established in 2008 as a subsidiary of Kura Sushi, Inc., a Japan-based revolving sushi chain with more than 650 restaurants internationally and 45 years of brand history. For more information, please visit .
Key Financial Definitions
Adjusted Net Income (Loss), a non-GAAP measure, is defined as net income (loss) before certain items, such as litigation expenses, that the Company believes are not indicative of its core operating results. Adjusted net income (loss) per diluted share represents adjusted net income (loss) divided by the number of diluted shares.
EBITDA, a non-GAAP measure, is defined as net income (loss) before interest, income taxes and depreciation and amortization expenses.
Adjusted EBITDA, a non-GAAP measure, is defined as EBITDA plus stock-based compensation expense, non-cash lease expense and asset disposals, closure costs and restaurant impairments, as well as certain items, such as litigation expenses that the Company believes are not indicative of its core operating results. Adjusted EBITDA margin is defined as adjusted EBITDA divided by sales.
Restaurant-level Operating Profit (Loss), a non-GAAP measure, is defined as operating income (loss) plus depreciation and amortization expenses; stock-based compensation expense; pre-opening costs and general and administrative expenses which are considered normal, recurring, cash operating expenses and are essential to supporting the development and operations of restaurants; non-cash lease expense; and asset disposals, closure costs and restaurant impairments; less corporate-level stock-based compensation expense recognized within general and administrative expenses. Restaurant-level operating profit (loss) margin is defined as restaurant-level operating profit (loss) divided by sales.
Comparable Restaurant Sales Performance refers to the percent change in year-over-year sales for the comparable restaurant base. The Company includes restaurants in the comparable restaurant base that have been in operation for at least 18 full calendar months by the end of the accounting period presented due to new restaurants experiencing a period of higher sales upon opening. For restaurants that were temporarily closed the comparative period was also adjusted accordingly.
Non-GAAP Financial Measures
To supplement the financial statements presented in accordance with U.S. generally accepted accounting principles (鈥淕AAP鈥�), the Company presents certain financial measures, such as adjusted net income (loss), EBITDA, adjusted EBITDA, adjusted EBITDA margin, restaurant-level operating profit (loss) and restaurant-level operating profit (loss) margin (鈥渘on-GAAP measures鈥�) that are not recognized under GAAP. These non-GAAP measures are intended as supplemental measures of its performance that are neither required by, nor presented in accordance with, GAAP. The Company is presenting these non-GAAP measures because the Company believes that they provide useful information to management and investors regarding certain financial and business trends relating to its financial condition and operating results. These measures also may not provide a complete understanding of the operating results of the Company as a whole and such measures should be reviewed in conjunction with its GAAP financial results. Additionally, the Company presents restaurant-level operating profit (loss) because it excludes the impact of general and administrative expenses which are not incurred at the restaurant-level. The Company also uses restaurant-level operating profit (loss) to measure operating performance and returns from opening new restaurants.
The Company believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company鈥檚 financial measures with those of comparable companies, which may present similar non-GAAP financial measures to investors. However, you should be aware that restaurant-level operating profit (loss) and restaurant-level operating profit (loss) margin are financial measures which are not indicative of overall results for the Company, and restaurant-level operating profit (loss) and restaurant-level operating profit (loss) margin do not accrue directly to the benefit of stockholders because of corporate-level and certain other expenses excluded from such measures. In addition, you should be aware when evaluating these non-GAAP financial measures that in the future the Company may incur expenses similar to those excluded when calculating these measures. The Company鈥檚 presentation of these measures should not be construed as an inference that its future results will be unaffected by unusual or non-recurring items. The Company鈥檚 computation of these non-GAAP financial measures may not be comparable to other similarly titled measures computed by other companies, because all companies may not calculate these non-GAAP financial measures in the same fashion. Because of these limitations, these non-GAAP financial measures should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. The Company compensates for these limitations by relying primarily on its GAAP results and using these non-GAAP financial measures on a supplemental basis.
Forward-Looking Statements
Except for historical information contained herein, the statements in this press release or otherwise made by the Company鈥檚 management in connection with the subject matter of this press release are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) and involve risks and uncertainties and are subject to change based on various important factors. This press release includes forward-looking statements that are based on management鈥檚 current estimates or expectations of future events or future results. These statements are not historical in nature and can generally be identified by such words as 鈥渢arget,鈥� 鈥渕ay,鈥� 鈥渕ight,鈥� 鈥渨ill,鈥� 鈥渙bjective,鈥� 鈥渋ntend,鈥� 鈥渟hould,鈥� 鈥渃ould,鈥� 鈥渃an,鈥� 鈥渨ould,鈥� 鈥渆xpect,鈥� 鈥渂elieve,鈥� 鈥渄esign,鈥� 鈥渆stimate,鈥� 鈥渃ontinue,鈥� 鈥減redict,鈥� 鈥減otential,鈥� 鈥減lan,鈥� 鈥渁nticipate鈥� or the negative of these terms, and similar expressions. Management鈥檚 expectations and assumptions regarding future results are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements included in this press release. These risks and uncertainties include but are not limited to: the Company鈥檚 ability to successfully maintain increases in our comparable restaurant sales; the Company鈥檚 ability to successfully execute our growth strategy and open new restaurants that are profitable; the Company鈥檚 ability to expand in existing and new markets; the Company鈥檚 projected growth in the number of its restaurants; macroeconomic conditions and other economic factors; the Company鈥檚 ability to compete with many other restaurants; the Company鈥檚 reliance on vendors, suppliers and distributors, including its majority stockholder Kura Sushi, Inc.; changes in food and supply costs, including the impact of inflation and tariffs; concerns regarding food safety and foodborne illness; changes in consumer preferences and the level of acceptance of the Company鈥檚 restaurant concept in new markets; minimum wage increases and mandated employee benefits that could cause a significant increase in labor costs, as well as the impact of labor availability; the failure of the Company鈥檚 automated equipment or information technology systems or the breach of its network security; the loss of key members of the Company鈥檚 management team; the impact of governmental laws and regulations; volatility in the price of the Company鈥檚 common stock; and other risks and uncertainties as described in the Company鈥檚 filings with the Securities and Exchange Commission (鈥淪EC鈥�). These and other factors that could cause results to differ materially from those described in the forward-looking statements contained in this press release can be found in the Company鈥檚 other filings with the SEC. Undue reliance should not be placed on forward-looking statements, which are only current as of the date they are made. The Company assumes no obligation to update or revise its forward-looking statements, except as may be required by applicable law.
Investor Relations Contact:
Jeff Priester or Steven Boediarto
(657) 333-4010
[email protected]
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| Kura Sushi USA, Inc. Statements of Operations and Comprehensive Income (Loss) (in thousands, except for per share data; unaudited) | 听 | |||||||||||||||
| 听 | 听 | |||||||||||||||
| 听 | 听 | Three Months Ended May 31, | 听 | 听 | Nine Months Ended May 31, | 听 | ||||||||||
| 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | ||||
| Sales | 听 | $ | 73,965 | 听 | 听 | $ | 63,082 | 听 | 听 | $ | 203,315 | 听 | 听 | $ | 171,848 | 听 |
| Restaurant operating costs: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Food and beverage costs | 听 | 听 | 20,928 | 听 | 听 | 听 | 18,391 | 听 | 听 | 听 | 58,225 | 听 | 听 | 听 | 50,691 | 听 |
| Labor and related costs | 听 | 听 | 24,478 | 听 | 听 | 听 | 20,534 | 听 | 听 | 听 | 68,306 | 听 | 听 | 听 | 55,712 | 听 |
| Occupancy and related expenses | 听 | 听 | 5,538 | 听 | 听 | 听 | 4,318 | 听 | 听 | 听 | 15,391 | 听 | 听 | 听 | 12,179 | 听 |
| Depreciation and amortization expenses | 听 | 听 | 3,450 | 听 | 听 | 听 | 3,124 | 听 | 听 | 听 | 9,827 | 听 | 听 | 听 | 8,294 | 听 |
| Other costs | 听 | 听 | 10,883 | 听 | 听 | 听 | 8,920 | 听 | 听 | 听 | 29,004 | 听 | 听 | 听 | 24,720 | 听 |
| Total restaurant operating costs | 听 | 听 | 65,277 | 听 | 听 | 听 | 55,287 | 听 | 听 | 听 | 180,753 | 听 | 听 | 听 | 151,596 | 听 |
| General and administrative expenses | 听 | 听 | 8,741 | 听 | 听 | 听 | 8,857 | 听 | 听 | 听 | 28,459 | 听 | 听 | 听 | 25,634 | 听 |
| Depreciation and amortization expenses | 听 | 听 | 109 | 听 | 听 | 听 | 107 | 听 | 听 | 听 | 328 | 听 | 听 | 听 | 318 | 听 |
| Total operating expenses | 听 | 听 | 74,127 | 听 | 听 | 听 | 64,251 | 听 | 听 | 听 | 209,540 | 听 | 听 | 听 | 177,548 | 听 |
| Operating loss | 听 | 听 | (162 | ) | 听 | 听 | (1,169 | ) | 听 | 听 | (6,225 | ) | 听 | 听 | (5,700 | ) |
| Other expense (income): | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Interest expense | 听 | 听 | 30 | 听 | 听 | 听 | 15 | 听 | 听 | 听 | 56 | 听 | 听 | 听 | 35 | 听 |
| Interest income | 听 | 听 | (812 | ) | 听 | 听 | (686 | ) | 听 | 听 | (2,236 | ) | 听 | 听 | (2,280 | ) |
| Income (loss) before income taxes | 听 | 听 | 620 | 听 | 听 | 听 | (498 | ) | 听 | 听 | (4,045 | ) | 听 | 听 | (3,455 | ) |
| Income tax expense | 听 | 听 | 55 | 听 | 听 | 听 | 60 | 听 | 听 | 听 | 132 | 听 | 听 | 听 | 148 | 听 |
| Net income (loss) | 听 | $ | 565 | 听 | 听 | $ | (558 | ) | 听 | $ | (4,177 | ) | 听 | $ | (3,603 | ) |
| Net income (loss) income per Class A and Class B shares | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Basic | 听 | $ | 0.05 | 听 | 听 | $ | (0.05 | ) | 听 | $ | (0.35 | ) | 听 | $ | (0.32 | ) |
| Diluted | 听 | $ | 0.05 | 听 | 听 | $ | (0.05 | ) | 听 | $ | (0.35 | ) | 听 | $ | (0.32 | ) |
| Weighted average Class A and Class B shares outstanding | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Basic | 听 | 听 | 12,086 | 听 | 听 | 听 | 11,188 | 听 | 听 | 听 | 11,855 | 听 | 听 | 听 | 11,167 | 听 |
| Diluted | 听 | 听 | 12,311 | 听 | 听 | 听 | 11,188 | 听 | 听 | 听 | 11,855 | 听 | 听 | 听 | 11,167 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Other comprehensive income (loss): | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Unrealized loss on short-term investments | 听 | $ | (8 | ) | 听 | 听 | (76 | ) | 听 | $ | (8 | ) | 听 | 听 | (43 | ) |
| Comprehensive income (loss) | 听 | $ | 557 | 听 | 听 | $ | (634 | ) | 听 | $ | (4,185 | ) | 听 | $ | (3,646 | ) |
| 听 | 听 | |||||||
| Kura Sushi USA, Inc. Selected Balance Sheet Data and Selected Operating Data (in thousands, except restaurants and percentages; unaudited) | 听 | |||||||
| 听 | 听 | |||||||
| 听 | 听 | May 31, 2025 | 听 | 听 | August 31, 2024 | 听 | ||
| Selected Balance Sheet Data: | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Cash and cash equivalents | 听 | $ | 47,132 | 听 | 听 | $ | 50,986 | 听 |
| Total assets | 听 | $ | 419,373 | 听 | 听 | $ | 328,522 | 听 |
| Total liabilities | 听 | $ | 192,369 | 听 | 听 | $ | 165,984 | 听 |
| Total stockholders鈥� equity | 听 | $ | 227,004 | 听 | 听 | $ | 162,538 | 听 |
| 听 | 听 | Three Months Ended May 31, | 听 | 听 | Nine Months Ended May 31, | 听 | ||||||||||
| 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | ||||
| Selected Operating Data: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Restaurants at the end of period | 听 | 听 | 76 | 听 | 听 | 听 | 63 | 听 | 听 | 听 | 76 | 听 | 听 | 听 | 63 | 听 |
| Comparable restaurant sales performance | 听 | 听 | (2.1 | )% | 听 | 听 | 0.6 | % | 听 | 听 | (1.9 | )% | 听 | 听 | 2.4 | % |
| EBITDA | 听 | $ | 3,397 | 听 | 听 | $ | 2,062 | 听 | 听 | $ | 3,930 | 听 | 听 | $ | 2,912 | 听 |
| Adjusted EBITDA | 听 | $ | 5,410 | 听 | 听 | $ | 4,451 | 听 | 听 | $ | 11,656 | 听 | 听 | $ | 9,068 | 听 |
| Adjusted EBITDA margin | 听 | 听 | 7.3 | % | 听 | 听 | 7.1 | % | 听 | 听 | 5.7 | % | 听 | 听 | 5.3 | % |
| Operating loss | 听 | $ | (162 | ) | 听 | $ | (1,169 | ) | 听 | $ | (6,225 | ) | 听 | $ | (5,700 | ) |
| Operating loss margin | 听 | 听 | (0.2 | )% | 听 | 听 | (1.9 | )% | 听 | 听 | (3.1 | )% | 听 | 听 | (3.3 | )% |
| Restaurant-level operating profit | 听 | $ | 13,492 | 听 | 听 | $ | 12,604 | 听 | 听 | $ | 36,423 | 听 | 听 | $ | 33,874 | 听 |
| Restaurant-level operating profit margin | 听 | 听 | 18.2 | % | 听 | 听 | 20.0 | % | 听 | 听 | 17.9 | % | 听 | 听 | 19.7 | % |
| 听 | 听 | |||||||||||||||
| Kura Sushi USA, Inc. Reconciliation of Net Income (Loss) and Net Income (Loss) Per Diluted Share to Adjusted Net Income (Loss) and Adjusted Net Income (Loss) Per Diluted Share (in thousands, except for per share data; unaudited) | 听 | |||||||||||||||
| 听 | 听 | |||||||||||||||
| 听 | 听 | Three Months Ended May 31, | 听 | 听 | Nine Months Ended May 31, | 听 | ||||||||||
| 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | ||||
| Net income (loss) | 听 | $ | 565 | 听 | 听 | $ | (558 | ) | 听 | $ | (4,177 | ) | 听 | $ | (3,603 | ) |
| Litigation(3) | 听 | 听 | 鈥� | 听 | 听 | 听 | 562 | 听 | 听 | 听 | 2,105 | 听 | 听 | 听 | 767 | 听 |
| Adjusted net income (loss) | 听 | $ | 565 | 听 | 听 | $ | 4 | 听 | 听 | $ | (2,072 | ) | 听 | $ | (2,836 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Net income (loss) per Class A and Class B diluted shares | 听 | $ | 0.05 | 听 | 听 | $ | (0.05 | ) | 听 | $ | (0.35 | ) | 听 | $ | (0.32 | ) |
| Litigation(3) | 听 | 听 | 鈥� | 听 | 听 | 听 | 0.05 | 听 | 听 | 听 | 0.18 | 听 | 听 | 听 | 0.07 | 听 |
| Adjusted net income (loss) per Class A and Class B diluted shares | 听 | $ | 0.05 | 听 | 听 | $ | 0.00 | 听 | 听 | $ | (0.17 | ) | 听 | $ | (0.25 | ) |
| Weighted average Class A and Class B shares outstanding | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Diluted shares | 听 | 听 | 12,311 | 听 | 听 | 听 | 11,188 | 听 | 听 | 听 | 11,855 | 听 | 听 | 听 | 11,167 | 听 |
| Adjusted diluted shares | 听 | 听 | 12,311 | 听 | 听 | 听 | 11,531 | 听 | 听 | 听 | 11,855 | 听 | 听 | 听 | 11,167 | 听 |
| 听 | 听 | |||||||||||||||
| Kura Sushi USA, Inc. Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA (in thousands; unaudited) | 听 | |||||||||||||||
| 听 | 听 | |||||||||||||||
| 听 | 听 | Three Months Ended May 31, | 听 | 听 | Nine Months Ended May 31, | 听 | ||||||||||
| 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | ||||
| Net income (loss) | 听 | $ | 565 | 听 | 听 | $ | (558 | ) | 听 | $ | (4,177 | ) | 听 | $ | (3,603 | ) |
| Interest income, net | 听 | 听 | (782 | ) | 听 | 听 | (671 | ) | 听 | 听 | (2,180 | ) | 听 | 听 | (2,245 | ) |
| Income tax expense | 听 | 听 | 55 | 听 | 听 | 听 | 60 | 听 | 听 | 听 | 132 | 听 | 听 | 听 | 148 | 听 |
| Depreciation and amortization expenses | 听 | 听 | 3,559 | 听 | 听 | 听 | 3,231 | 听 | 听 | 听 | 10,155 | 听 | 听 | 听 | 8,612 | 听 |
| EBITDA | 听 | 听 | 3,397 | 听 | 听 | 听 | 2,062 | 听 | 听 | 听 | 3,930 | 听 | 听 | 听 | 2,912 | 听 |
| Stock-based compensation expense(1) | 听 | 听 | 1,293 | 听 | 听 | 听 | 1,197 | 听 | 听 | 听 | 3,500 | 听 | 听 | 听 | 3,169 | 听 |
| Non-cash lease expense(2) | 听 | 听 | 720 | 听 | 听 | 听 | 630 | 听 | 听 | 听 | 2,121 | 听 | 听 | 听 | 2,220 | 听 |
| Litigation(3) | 听 | 听 | 鈥� | 听 | 听 | 听 | 562 | 听 | 听 | 听 | 2,105 | 听 | 听 | 听 | 767 | 听 |
| Adjusted EBITDA | 听 | $ | 5,410 | 听 | 听 | $ | 4,451 | 听 | 听 | $ | 11,656 | 听 | 听 | $ | 9,068 | 听 |
| 听 | 听 | |||||||||||||||
| Kura Sushi USA, Inc. Reconciliation of Operating Loss to Restaurant-level Operating Profit (in thousands; unaudited) | 听 | |||||||||||||||
| 听 | 听 | |||||||||||||||
| 听 | 听 | Three Months Ended May 31, | 听 | 听 | Nine Months Ended May 31, | 听 | ||||||||||
| 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | ||||
| Operating loss | 听 | $ | (162 | ) | 听 | $ | (1,169 | ) | 听 | $ | (6,225 | ) | 听 | $ | (5,700 | ) |
| Depreciation and amortization expenses | 听 | 听 | 3,559 | 听 | 听 | 听 | 3,231 | 听 | 听 | 听 | 10,155 | 听 | 听 | 听 | 8,612 | 听 |
| Stock-based compensation expense(1) | 听 | 听 | 1,293 | 听 | 听 | 听 | 1,197 | 听 | 听 | 听 | 3,500 | 听 | 听 | 听 | 3,169 | 听 |
| Pre-opening costs(4) | 听 | 听 | 404 | 听 | 听 | 听 | 861 | 听 | 听 | 听 | 1,305 | 听 | 听 | 听 | 2,611 | 听 |
| Non-cash lease expense(2) | 听 | 听 | 720 | 听 | 听 | 听 | 630 | 听 | 听 | 听 | 2,121 | 听 | 听 | 听 | 2,220 | 听 |
| General and administrative expenses | 听 | 听 | 8,741 | 听 | 听 | 听 | 8,857 | 听 | 听 | 听 | 28,459 | 听 | 听 | 听 | 25,634 | 听 |
| Corporate-level stock-based compensation in general and administrative expenses | 听 | 听 | (1,063 | ) | 听 | 听 | (1,003 | ) | 听 | 听 | (2,892 | ) | 听 | 听 | (2,672 | ) |
| Restaurant-level operating profit | 听 | $ | 13,492 | 听 | 听 | $ | 12,604 | 听 | 听 | $ | 36,423 | 听 | 听 | $ | 33,874 | 听 |
| ________________ | |
| (1) | Stock-based compensation expense includes non-cash stock-based compensation, which is comprised of restaurant-level stock-based compensation included in labor and related costs and corporate-level stock-based compensation included in general and administrative expenses in the statements of operations and comprehensive income (loss). |
| (2) | Non-cash lease expense includes lease expense from the date of possession of our restaurants that did not require cash outlay in the respective periods. |
| (3) | Litigation includes expenses related to legal claims or settlements. |
| (4) | Pre-opening costs consist of labor costs and travel expenses for new employees and trainers during the training period, recruitment fees, legal fees, cash-based lease expenses incurred between the date of possession and opening day of our restaurants, and other related pre-opening costs. |
FAQ
What were Kura Sushi's (KRUS) key financial results for Q3 2025?
How many new restaurants did Kura Sushi open in Q3 2025 and where?
What is Kura Sushi's expansion outlook for fiscal year 2025?
How did Kura Sushi's operating costs perform in Q3 2025?
What is Kura Sushi's revenue guidance for fiscal year 2025?
