Kura Sushi USA Announces Fiscal Second Quarter 2025 Financial Results
Kura Sushi USA (NASDAQ: KRUS) reported fiscal Q2 2025 results with total sales of $64.9 million, up from $57.3 million in Q2 2024. However, the company faced challenges with a 5.3% decrease in comparable restaurant sales and widening losses. The operating loss increased to $4.6 million from $1.7 million year-over-year, while net loss expanded to $3.8 million ($(0.31) per share).
Key metrics include restaurant-level operating profit of $11.2 million (17.3% of sales) and Adjusted EBITDA of $2.7 million. The company successfully opened three new restaurants during Q2 in Berkeley, Fort Worth, and Paramus. For fiscal 2025, Kura Sushi maintains its guidance of $275-279 million in total sales and plans to open 14 new restaurants.
Kura Sushi USA (NASDAQ: KRUS) ha riportato i risultati del secondo trimestre fiscale 2025 con vendite totali di 64,9 milioni di dollari, in aumento rispetto ai 57,3 milioni di dollari del secondo trimestre 2024. Tuttavia, l'azienda ha affrontato sfide con un calo del 5,3% nelle vendite dei ristoranti comparabili e perdite in aumento. La perdita operativa è aumentata a 4,6 milioni di dollari rispetto a 1,7 milioni di dollari anno su anno, mentre la perdita netta si è ampliata a 3,8 milioni di dollari ($(0,31) per azione).
I principali indicatori includono un profitto operativo a livello di ristorante di 11,2 milioni di dollari (17,3% delle vendite) e un EBITDA rettificato di 2,7 milioni di dollari. L'azienda ha aperto con successo tre nuovi ristoranti durante il secondo trimestre a Berkeley, Fort Worth e Paramus. Per l'anno fiscale 2025, Kura Sushi mantiene la sua guida di vendite totali comprese tra 275 e 279 milioni di dollari e prevede di aprire 14 nuovi ristoranti.
Kura Sushi USA (NASDAQ: KRUS) reportó los resultados del segundo trimestre fiscal 2025 con ventas totales de 64.9 millones de dólares, un aumento respecto a los 57.3 millones de dólares en el segundo trimestre de 2024. Sin embargo, la compañía enfrentó desafíos con una disminución del 5.3% en las ventas de restaurantes comparables y pérdidas en aumento. La pérdida operativa aumentó a 4.6 millones de dólares desde 1.7 millones de dólares en comparación interanual, mientras que la pérdida neta se amplió a 3.8 millones de dólares ($(0.31) por acción).
Los indicadores clave incluyen una ganancia operativa a nivel de restaurante de 11.2 millones de dólares (17.3% de las ventas) y un EBITDA ajustado de 2.7 millones de dólares. La compañía abrió con éxito tres nuevos restaurantes durante el segundo trimestre en Berkeley, Fort Worth y Paramus. Para el año fiscal 2025, Kura Sushi mantiene su guía de ventas totales de entre 275 y 279 millones de dólares y planea abrir 14 nuevos restaurantes.
Kura Sushi USA (NASDAQ: KRUS)는 2025 회계 연도 2분기 실적을 보고하며 총 매출 6490만 달러를 기록했으며, 이는 2024 회계 연도 2분기의 5730만 달러에서 증가한 수치입니다. 그러나 회사는 비교 가능한 레스토랑 매출이 5.3% 감소하는 등 어려움에 직면했습니다. 운영 손실은 전년 대비 170만 달러에서 460만 달러로 증가했으며, 순손실은 380만 달러로 확대되었습니다 ($(0.31) 주당).
주요 지표로는 레스토랑 수준 운영 이익 1120만 달러(매출의 17.3%)와 조정된 EBITDA 270만 달러가 포함됩니다. 회사는 2분기 동안 버클리, 포트워스 및 파라무스에 3개의 새로운 레스토랑을 성공적으로 열었습니다. 2025 회계 연도에 대해 Kura Sushi는 총 매출을 2억 7500만에서 2억 7900만 달러로 유지하고 14개의 새로운 레스토랑을 열 계획입니다.
Kura Sushi USA (NASDAQ: KRUS) a publié les résultats du deuxième trimestre fiscal 2025 avec des ventes totales de 64,9 millions de dollars, en hausse par rapport à 57,3 millions de dollars au deuxième trimestre 2024. Cependant, l'entreprise a rencontré des défis avec une diminution de 5,3 % des ventes des restaurants comparables et des pertes croissantes. La perte opérationnelle a augmenté à 4,6 millions de dollars contre 1,7 million de dollars d'une année sur l'autre, tandis que la perte nette s'est élargie à 3,8 millions de dollars ($(0,31) par action).
Les indicateurs clés comprennent un bénéfice opérationnel au niveau des restaurants de 11,2 millions de dollars (17,3 % des ventes) et un EBITDA ajusté de 2,7 millions de dollars. L'entreprise a ouvert avec succès trois nouveaux restaurants au cours du deuxième trimestre à Berkeley, Fort Worth et Paramus. Pour l'exercice 2025, Kura Sushi maintient ses prévisions de ventes totales entre 275 et 279 millions de dollars et prévoit d'ouvrir 14 nouveaux restaurants.
Kura Sushi USA (NASDAQ: KRUS) hat die Ergebnisse für das zweite Quartal des Geschäftsjahres 2025 veröffentlicht, mit Gesamtumsätzen von 64,9 Millionen Dollar, ein Anstieg von 57,3 Millionen Dollar im zweiten Quartal 2024. Das Unternehmen sah sich jedoch Herausforderungen gegenüber, darunter einen Rückgang der vergleichbaren Restaurantumsätze um 5,3% und steigende Verluste. Der operative Verlust stieg von 1,7 Millionen Dollar auf 4,6 Millionen Dollar im Jahresvergleich, während der Nettoverlust auf 3,8 Millionen Dollar ($(0,31) pro Aktie) anwuchs.
Wichtige Kennzahlen umfassen einen Restaurantbetriebsergebnis von 11,2 Millionen Dollar (17,3% des Umsatzes) und ein bereinigtes EBITDA von 2,7 Millionen Dollar. Das Unternehmen eröffnete im zweiten Quartal erfolgreich drei neue Restaurants in Berkeley, Fort Worth und Paramus. Für das Geschäftsjahr 2025 hält Kura Sushi an seiner Prognose von 275 bis 279 Millionen Dollar Gesamtumsatz fest und plant, 14 neue Restaurants zu eröffnen.
- Total sales increased 13.3% to $64.9 million from $57.3 million YoY
- Food and beverage costs improved to 28.7% from 29.6% of sales YoY
- Successful expansion with 3 new restaurants opened in Q2 and 2 more after quarter-end
- Maintaining aggressive growth plans with 14 new restaurants targeted for fiscal 2025
- Comparable restaurant sales decreased 5.3% due to traffic reduction
- Operating loss widened to $4.6 million from $1.7 million YoY
- Net loss increased to $3.8 million from $1.0 million YoY
- Labor costs increased to 34.8% from 33.0% of sales YoY
- $2.1 million litigation settlement expense impacted G&A costs
Insights
Kura Sushi's Q2 results reveal concerning operational deterioration beneath the headline sales growth. While total revenue increased 13.3% to
Most alarming is the dramatic profitability deterioration. Operating losses more than doubled to
Labor costs jumped to
Management's maintained guidance appears increasingly ambitious given the substantial comparable sales decline and profitability deterioration. While management attributes some weakness to weather, the magnitude of financial deterioration suggests more fundamental challenges that may not be easily resolved in coming quarters.
Kura Sushi's aggressive unit expansion continues with 11 openings year-to-date and 6 more under construction, but this growth strategy is showing concerning cracks. The company's
The margin compression story is particularly troubling. Restaurant-level profit remained flat at
While management referenced "inclement weather" affecting sales, this explanation seems insufficient given the severity of performance deterioration across multiple metrics. The labor cost increase to
The
IRVINE, Calif., April 08, 2025 (GLOBE NEWSWIRE) -- Kura Sushi USA, Inc. (“Kura Sushi” or the “Company”) (NASDAQ: KRUS), a technology-enabled Japanese restaurant concept, today announced financial results for the fiscal second quarter ended February 28, 2025.
Fiscal Second Quarter 2025 Highlights
- Total sales were
$64.9 million , compared to$57.3 million in the second quarter of 2024; - Comparable restaurant sales decreased
5.3% for the second quarter of 2025 as compared to the second quarter of 2024; - Operating loss was
$4.6 million , compared to an operating loss of$1.7 million in the second quarter of 2024; - Net loss was
$3.8 million , or$(0.31) per diluted share, compared to net loss of$1.0 million , or$(0.09) per diluted share, in the second quarter of 2024; - Adjusted net loss* was
$1.7 million , or$(0.14) per diluted share, compared to an adjusted net loss of$1.0 million or$(0.09) per diluted share, in the second quarter of 2024; - Restaurant-level operating profit* was
$11.2 million , or17.3% of sales; - Adjusted EBITDA* was
$2.7 million ; and - Three new restaurants opened during the fiscal second quarter of 2025.
*Adjusted net loss, Restaurant-level operating profit and Adjusted EBITDA are non-GAAP measures and are defined below under “Key Financial Definitions.” Please see the reconciliation of non-GAAP measures accompanying this release. See also “Non-GAAP Financial Measures” below.
Hajime Uba, President and Chief Executive Officer of Kura Sushi, stated, “We had a very productive second quarter, making headway on the new market opportunities represented by our success in Bakersfield, building out our IP pipeline, and beginning testing or rollout of several systems projects that have long been in development. New restaurant openings are going exceptionally smoothly, with 11 units opened to-date and another six under construction. While the inclement weather was an unexpected sales pressure, we’re pleased overall with the quarter due to the great progress we’ve made across our initiatives.”
Review of Fiscal Second 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 loss was
Adjusted net loss* was
Restaurant-level operating profit* was
Adjusted EBITDA* was
Restaurant Development
During the fiscal second quarter of 2025, the Company opened three new restaurants in Berkeley, California; Fort Worth, Texas; and Paramus, New Jersey. Subsequent to February 28, 2025, the Company opened two new restaurants in Scottsdale, Arizona and Lynnwood, Washington.
Fiscal Year 2025 Outlook
For the full fiscal year of 2025, the Company reiterates the following annual guidance:
- Total sales between
$275 million and$279 million ; - 14 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 approximately
13.5% .
Conference Call
A conference call and webcast to discuss Kura Sushi’s financial results is scheduled for 5:00 p.m. EDT today. Hosting the conference call and webcast will be Hajime “Jimmy” 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 13751704. The webcast will be available at www.kurasushi.com 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 75 locations across 20 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 www.kurasushi.com.
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 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 prior to the start 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. Performance in comparable restaurant sales represents the percent change in sales from the same period in the prior year for the comparable restaurant base.
Non-GAAP Financial Measures
To supplement the financial statements presented in accordance with U.S. generally accepted accounting principles (“GAAP”), 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 (“non-GAAP measures”) 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’s 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’s 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’s 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’s 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’s 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 “target,” “may,” “might,” “will,” “objective,” “intend,” “should,” “could,” “can,” “would,” “expect,” “believe,” “design,” “estimate,” “continue,” “predict,” “potential,” “plan,” “anticipate” or the negative of these terms, and similar expressions. Management’s 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’s ability to successfully maintain increases in our comparable restaurant sales; the Company’s ability to successfully execute our growth strategy and open new restaurants that are profitable; the Company’s ability to expand in existing and new markets; the Company’s projected growth in the number of its restaurants; macroeconomic conditions and other economic factors; the Company’s ability to compete with many other restaurants; the Company’s 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’s 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’s automated equipment or information technology systems or the breach of its network security; the loss of key members of the Company’s management team; the impact of governmental laws and regulations; volatility in the price of the Company’s common stock; and other risks and uncertainties as described in the Company’s filings with the Securities and Exchange Commission (“SEC”). 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’s 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
investor@kurausa.com
| Kura Sushi USA, Inc. Statements of Operations and Comprehensive Loss (in thousands, except per share amounts; unaudited) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| February 28, 2025 | February 29, 2024 | February 28, 2025 | February 29, 2024 | |||||||||||||
| Sales | $ | 64,894 | $ | 57,291 | $ | 129,350 | $ | 108,766 | ||||||||
| Restaurant operating costs: | ||||||||||||||||
| Food and beverage costs | 18,630 | 16,935 | 37,297 | 32,300 | ||||||||||||
| Labor and related costs | 22,593 | 18,924 | 43,828 | 35,334 | ||||||||||||
| Occupancy and related expenses | 5,099 | 3,953 | 9,853 | 7,861 | ||||||||||||
| Depreciation and amortization expenses | 3,286 | 2,694 | 6,377 | 5,170 | ||||||||||||
| Other costs | 8,780 | 8,200 | 18,121 | 15,644 | ||||||||||||
| Total restaurant operating costs | 58,388 | 50,706 | 115,476 | 96,309 | ||||||||||||
| General and administrative expenses | 10,985 | 8,168 | 19,718 | 16,777 | ||||||||||||
| Depreciation and amortization expenses | 110 | 107 | 219 | 211 | ||||||||||||
| Total operating expenses | 69,483 | 58,981 | 135,413 | 113,297 | ||||||||||||
| Operating loss | (4,589 | ) | (1,690 | ) | (6,063 | ) | (4,531 | ) | ||||||||
| Other expense (income): | ||||||||||||||||
| Interest expense | 13 | 12 | 26 | 20 | ||||||||||||
| Interest income | (859 | ) | (754 | ) | (1,424 | ) | (1,594 | ) | ||||||||
| Loss before income taxes | (3,743 | ) | (948 | ) | (4,665 | ) | (2,957 | ) | ||||||||
| Income tax expense | 38 | 50 | 77 | 88 | ||||||||||||
| Net loss | $ | (3,781 | ) | $ | (998 | ) | $ | (4,742 | ) | $ | (3,045 | ) | ||||
| Net loss income per Class A and Class B shares | ||||||||||||||||
| Basic | $ | (0.31 | ) | $ | (0.09 | ) | $ | (0.40 | ) | $ | (0.27 | ) | ||||
| Diluted | $ | (0.31 | ) | $ | (0.09 | ) | $ | (0.40 | ) | $ | (0.27 | ) | ||||
| Weighted average Class A and Class B shares outstanding | ||||||||||||||||
| Basic | 12,073 | 11,179 | 11,737 | 11,162 | ||||||||||||
| Diluted | 12,073 | 11,179 | 11,737 | 11,162 | ||||||||||||
| Other comprehensive income (loss): | ||||||||||||||||
| Unrealized gain on short-term investments | $ | — | 30 | $ | — | 33 | ||||||||||
| Comprehensive loss | $ | (3,781 | ) | $ | (968 | ) | $ | (4,742 | ) | $ | (3,012 | ) | ||||
| Kura Sushi USA, Inc. Selected Balance Sheet Data and Selected Operating Data (in thousands, except restaurants and percentages; unaudited) | ||||||||
| February 28, 2025 | August 31, 2024 | |||||||
| Selected Balance Sheet Data: | ||||||||
| Cash and cash equivalents | $ | 85,171 | $ | 50,986 | ||||
| Total assets | $ | 410,372 | $ | 328,522 | ||||
| Total liabilities | $ | 185,327 | $ | 165,984 | ||||
| Total stockholders’ equity | $ | 225,045 | $ | 162,538 | ||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| February 28, 2025 | February 29, 2024 | February 28, 2025 | February 29, 2024 | |||||||||||||
| Selected Operating Data: | ||||||||||||||||
| Restaurants at the end of period | 73 | 59 | 73 | 59 | ||||||||||||
| Comparable restaurant sales performance | (5.3 | )% | 3.0 | % | (1.6 | )% | 3.5 | % | ||||||||
| EBITDA | $ | (1,193 | ) | $ | 1,111 | $ | 533 | $ | 850 | |||||||
| Adjusted EBITDA | $ | 2,674 | $ | 2,850 | $ | 6,246 | $ | 4,617 | ||||||||
| Adjusted EBITDA margin | 4.1 | % | 5.0 | % | 4.8 | % | 4.2 | % | ||||||||
| Operating loss | $ | (4,589 | ) | $ | (1,690 | ) | $ | (6,063 | ) | $ | (4,531 | ) | ||||
| Operating loss margin | (7.1 | )% | (2.9 | )% | (4.7 | )% | (4.2 | )% | ||||||||
| Restaurant-level operating profit | $ | 11,217 | $ | 11,209 | $ | 22,931 | $ | 21,270 | ||||||||
| Restaurant-level operating profit margin | 17.3 | % | 19.6 | % | 17.7 | % | 19.6 | % | ||||||||
| Kura Sushi USA, Inc. Reconciliation of Net Loss and Net Loss Per Diluted Share to Adjusted Net Loss and Adjusted Net Loss Per Diluted Share (in thousands, except loss per share amounts; unaudited) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| February 28, 2025 | February 29, 2024 | February 28, 2025 | February 29, 2024 | |||||||||||||
| Net loss | $ | (3,781 | ) | $ | (998 | ) | $ | (4,742 | ) | $ | (3,045 | ) | ||||
| Litigation(3) | 2,105 | — | 2,105 | 205 | ||||||||||||
| Adjusted net loss | $ | (1,676 | ) | $ | (998 | ) | $ | (2,637 | ) | $ | (2,840 | ) | ||||
| Net loss per Class A and Class B diluted shares | $ | (0.31 | ) | $ | (0.09 | ) | $ | (0.40 | ) | $ | (0.27 | ) | ||||
| Litigation(3) | 0.17 | — | 0.18 | 0.02 | ||||||||||||
| Adjusted net loss per Class A and Class B diluted shares | $ | (0.14 | ) | $ | (0.09 | ) | $ | (0.22 | ) | $ | (0.25 | ) | ||||
| Weighted average Class A and Class B shares outstanding | ||||||||||||||||
| Diluted shares | 12,073 | 11,179 | 11,737 | 11,162 | ||||||||||||
| Adjusted diluted shares | 12,073 | 11,179 | 11,737 | 11,162 | ||||||||||||
| Kura Sushi USA, Inc. Reconciliation of Net Loss to EBITDA and Adjusted EBITDA (in thousands; unaudited) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| February 28, 2025 | February 29, 2024 | February 28, 2025 | February 29, 2024 | |||||||||||||
| Net loss | $ | (3,781 | ) | $ | (998 | ) | $ | (4,742 | ) | $ | (3,045 | ) | ||||
| Interest income, net | (846 | ) | (742 | ) | (1,398 | ) | (1,574 | ) | ||||||||
| Income tax expense | 38 | 50 | 77 | 88 | ||||||||||||
| Depreciation and amortization expenses | 3,396 | 2,801 | 6,596 | 5,381 | ||||||||||||
| EBITDA | (1,193 | ) | 1,111 | 533 | 850 | |||||||||||
| Stock-based compensation expense(1) | 1,081 | 966 | 2,207 | 1,972 | ||||||||||||
| Non-cash lease expense(2) | 681 | 773 | 1,401 | 1,590 | ||||||||||||
| Litigation(3) | 2,105 | — | 2,105 | 205 | ||||||||||||
| Adjusted EBITDA | $ | 2,674 | $ | 2,850 | $ | 6,246 | $ | 4,617 | ||||||||
| Kura Sushi USA, Inc. Reconciliation of Operating Loss to Restaurant-level Operating Profit (in thousands; unaudited) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| February 28, 2025 | February 29, 2024 | February 28, 2025 | February 29, 2024 | |||||||||||||
| Operating loss | $ | (4,589 | ) | $ | (1,690 | ) | $ | (6,063 | ) | $ | (4,531 | ) | ||||
| Depreciation and amortization expenses | 3,396 | 2,801 | 6,596 | 5,381 | ||||||||||||
| Stock-based compensation expense(1) | 1,081 | 966 | 2,207 | 1,972 | ||||||||||||
| Pre-opening costs(4) | 545 | 1,001 | 901 | 1,750 | ||||||||||||
| Non-cash lease expense(2) | 681 | 773 | 1,401 | 1,590 | ||||||||||||
| General and administrative expenses | 10,985 | 8,168 | 19,718 | 16,777 | ||||||||||||
| Corporate-level stock-based compensation in general and administrative expenses | (882 | ) | (810 | ) | (1,829 | ) | (1,669 | ) | ||||||||
| Restaurant-level operating profit | $ | 11,217 | $ | 11,209 | $ | 22,931 | $ | 21,270 | ||||||||
| ________________ | |
| (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 loss. |
| (2) | Non-cash lease expense includes lease expense from the date of possession of 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 restaurants, and other related pre-opening costs. |
FAQ
What caused Kura Sushi (KRUS) comparable sales to decline by 5.3% in Q2 2025?
How many new restaurants did Kura Sushi open in Q2 2025 and where?
What is Kura Sushi's (KRUS) revenue guidance for fiscal year 2025?
How much did Kura Sushi's net loss per share increase in Q2 2025 compared to Q2 2024?
What is Kura Sushi's restaurant expansion plan for fiscal 2025?
