Kura Sushi USA Announces Fiscal Fourth Quarter and Fiscal Year 2026 Financial Results
Fiscal 2027 plans call for 17 new restaurants as annual comparable sales decline and net losses widen.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Kura Sushi USA (NASDAQ: KRUS) reported fiscal fourth-quarter sales of $88.9 million, alongside a shift from profit to loss. Sales rose from $79.4 million a year earlier, but comparable restaurant sales fell 5.7%, including an 11.5% traffic decline. Net loss was $0.3 million, or $0.02 per diluted share, versus net income of $2.3 million, or $0.18 per diluted share.
For the year ended August 31, 2026, sales increased to $328.3 million from $282.8 million, while net loss widened to $4.6 million from $1.9 million. Non-GAAP adjusted EBITDA, an adjusted earnings measure, rose to $22.2 million from $19.1 million. Four restaurants opened in the quarter and three after year-end. For fiscal 2027, the company expects sales of $376 million–$381 million, 17 new restaurants with approximately $2.6 million average net capital spending each, and restaurant-level operating profit margins of approximately 19.0%.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointFourth-quarter sales increased to $88.9 million from $79.4 million a year earlier.
- Moderate pointFiscal 2026 sales increased to $328.3 million from $282.8 million in fiscal 2025.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Fiscal 2027 sales outlook is $376 million–$381 million, above fiscal 2026 sales of $328.3 million.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Fiscal 2027 expansion plans call for 17 new restaurants.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Fiscal 2027 restaurant-level operating profit margin guidance is approximately 19.0%, versus 18.0% in fiscal 2026.
- Moderate pointFiscal 2026 non-GAAP adjusted EBITDA increased to $22.2 million from $19.1 million.
5 minor points
- Minor pointRestaurant expansion added four openings in the fourth quarter and three after August 31, 2026.
- Minor point. Forward-looking: it has not happened yet and may not happen.Fiscal 2027 general and administrative expense guidance is approximately 11.5% of sales, versus 12.4% in fiscal 2026.
- Minor pointFourth-quarter non-GAAP adjusted EBITDA increased to $7.7 million from $7.4 million a year earlier.
- Minor pointFourth-quarter labor costs fell to 30.4% of sales from 31.1%, despite low-single digit wage inflation.
- Minor pointFourth-quarter other costs fell to 14.6% of sales from 15.0%, primarily reflecting an approximately $0.5 million one-time tariff refund.
Negative
- Moderate pointFourth-quarter comparable sales fell 5.7%, with traffic down 11.5% and price/mix up 5.8%.
- Moderate pointFiscal 2026 net loss widened to $4.6 million from $1.9 million; diluted loss per share increased to $0.38 from $0.16.
- Moderate pointFiscal 2026 operating loss widened to $6.6 million from $4.8 million.
- Moderate pointFiscal 2026 non-GAAP adjusted results became a $2.0 million loss, or $0.16 per diluted share, versus $0.4 million income, or $0.03.
- Moderate pointFourth-quarter food and beverage costs rose to 29.7% of sales from 28.4%, primarily because of tariffs.
- Moderate pointAnnual non-GAAP restaurant-level profit margin fell to 18.0% from 18.4%, despite profit rising to $59.0 million from $52.1 million.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Fiscal 2027 planned openings require approximately $2.6 million average net capital expenditures per restaurant.
14 minor points
- Minor pointFiscal 2026 comparable sales fell 0.4%, with traffic down 4.3% and price/mix up 3.9%.
- Minor pointFourth-quarter net results swung to a $0.3 million loss from $2.3 million income; diluted EPS fell from $0.18 to $(0.02).
- Minor pointFourth-quarter operating results shifted to a $0.6 million loss from $1.5 million income.
- Minor pointFourth-quarter non-GAAP adjusted net income fell to $0.9 million, or $0.08 per diluted share, from $2.5 million, or $0.20.
- Minor pointAverage annual restaurant sales fell to $3.8 million from $3.9 million in fiscal 2025.
- Minor pointFiscal 2026 tariff-related cost increases totaled 180 basis points, according to the company.
- Minor pointFourth-quarter occupancy expenses increased to $6.9 million from $5.6 million following restaurant expansion.
- Minor pointFourth-quarter restaurant depreciation and amortization increased to $4.9 million from $3.8 million following restaurant expansion.
- Minor pointFourth-quarter general and administrative expenses rose to $9.9 million from $9.3 million, despite declining to 11.2% of sales from 11.7%.
- Minor pointAnnual general and administrative expenses rose to $40.6 million from $37.7 million, despite declining to 12.4% of sales from 13.3%.
- Minor pointAnnual non-GAAP adjusted administrative expenses rose to $39.2 million from $35.4 million; their sales share fell to 11.9% from 12.5%.
- Minor pointFourth-quarter asset impairment and disposal charges were $1.2 million, also the fiscal-year total.
- Minor pointFourth-quarter non-GAAP restaurant-level profit margin fell to 19.1% from 19.8%, despite profit rising to $17.0 million from $15.7 million.
- Minor pointFourth-quarter interest income fell to $450 thousand from $866 thousand; annual interest income fell to $2.234 million from $3.102 million.
News Explained
At August 31, 2026, cash and equivalents were $28,384 thousand, down from $47,498 thousand a year earlier; restaurant-level profit is not company-wide profit.
In its reported fiscal 2026 results, Kura Sushi showed cash and equivalents of
Restaurant-level operating profit was
For fiscal 2026, GAAP operating loss was
Details
Market Reaction – KRUS
On Nov 5, the day this news came out, the latest delayed price for KRUS is 10.76% below the previous close. Argus tracked a trough of -5.5% from its starting point during tracking. Our momentum scanner has recorded 16 alerts for this stock so far that day. The latest delayed price is $33.08. Relative volume is elevated at 2.3x what this stock usually trades by this time of day.
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Key Figures
- Fiscal Q4 sales
- $88.9 million vs. $79.4 million
- Fiscal Q4 2026 vs. fiscal Q4 2025
- Comparable restaurant sales
- Decreased 5.7%
- Fiscal Q4 2026 year over year
- Operating result
- $0.6 million loss vs. $1.5 million income
- Fiscal Q4 2026 vs. fiscal Q4 2025
- Net result
- $0.3 million loss; $(0.02) per diluted share
- Fiscal Q4 2026, compared with $2.3 million net income and $0.18 per diluted share
- Fiscal-year sales
- $328.3 million vs. $282.8 million
- Fiscal 2026 vs. fiscal 2025
- Fiscal-year net result
- $4.6 million loss; $(0.38) per diluted share
- Fiscal 2026, compared with $1.9 million net loss and $(0.16) per diluted share
- Fiscal 2027 sales outlook
- $376 million to $381 million
- Company outlook for fiscal 2027
- Planned restaurant openings
- 17 new restaurants
- Fiscal 2027 outlook
Previous Earnings Reports
-
Sales and net income increased, while comparable restaurant sales declined slightly.
-
Annual sales rose, but the company reported a full-year net loss.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
non-gaap financial
ebitda financial
basis points financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
IRVINE, Calif., Nov. 05, 2026 (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 fourth quarter and fiscal year ended August 31, 2026.
Fiscal Fourth Quarter 2026 Highlights
- Total sales were
$88.9 million , compared to$79.4 million in the fourth quarter of 2025; - Comparable restaurant sales decreased
5.7% for the fourth quarter of 2026 as compared to the fourth quarter of 2025; - Operating loss was
$0.6 million , compared to an operating income of$1.5 million in the fourth quarter of 2025; - Net loss was
$0.3 million , or$(0.02) per diluted share, compared to net income of$2.3 million , or$0.18 per diluted share, in the fourth quarter of 2025; - Adjusted net income* was
$0.9 million , or$0.08 per diluted share, compared to an adjusted net income* of$2.5 million or$0.20 per diluted share, in the fourth quarter of 2025; - Restaurant-level operating profit* was
$17.0 million , or19.1% of sales; - Adjusted EBITDA* was
$7.7 million ; and - Four new restaurants opened during the fiscal fourth quarter of 2026.
*Adjusted net income, Adjusted general and administrative expenses, 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, Chief Executive Officer and Chief Financial Officer of Kura Sushi, stated, “As we look back at our fiscal year 2026, I’m proud of our efforts to protect margin despite tariffs and consumer headwinds. While tariffs collectively increased our costs of goods sold and other costs by 180 basis points, we were able to offset these increases with labor leverage of 190 basis points as compared to fiscal year 2025, driven by the technological innovation that is core to our concept. Our continued commitment to G&A leverage is reflected in the 90 basis point improvement, and we were also able to grow Adjusted EBITDA margin and dollars as compared to fiscal year 2025.”
Review of Fiscal Fourth Quarter 2026 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
Depreciation and amortization expense was
Other costs as a percentage of sales were
General and administrative expenses were
Impairment and disposal of long-lived assets were
Operating loss was
Income tax expense was
Net loss was
Adjusted net income* was
Restaurant-level operating profit* was
Adjusted EBITDA* was
Review of Fiscal Year 2026 Financial Results
Total sales were
General and administrative expenses were
Adjusted general and administrative expenses* were
Impairment and disposal of long-lived assets 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 fourth quarter of 2026, the Company opened four new restaurants in Tulsa, Oklahoma; Sunset Valley, Texas; Charlotte, North Carolina; and Parsippany, New Jersey. Subsequent to August 31, 2026, the Company opened three new restaurants in Glen Allen, Virginia; West Des Moines, Iowa; and Greenwood Village, Colorado.
Fiscal Year 2027 Outlook
- Total sales between
$376 million and$381 million ; - 17 new restaurants, with average net capital expenditures per unit of approximately
$2.6 million ; - General and administrative expenses as a percentage of sales of approximately
11.5% ; - Restaurant-level operating profit margins of approximately
19.0% .
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, Chief Executive Officer and 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 13762776. 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 98 locations across 25 U.S. 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 700 restaurants internationally and 49 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 and restaurant impairments and disposals, 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, closure costs and restaurant impairments and disposals, 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; closure costs and restaurant impairments and disposals; 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.
Adjusted General and Administrative Expenses, a non-GAAP measure, is defined as general and administrative expenses before litigation expenses that the Company believes are not indicative of its core operating results. Adjusted General and Administrative Expenses as a percentage of sales is defined as adjusted general and administrative expenses 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.
Average Unit Volumes (“AUVs”) consist of the average annual sales of all restaurants that have been open for 18 full calendar months or longer at the end of the fiscal year presented due to new restaurants experiencing a period of higher sales upon opening. AUVs are calculated by dividing (x) annual sales for the fiscal year presented for all such restaurants by (y) the total number of restaurants in that base. The Company makes fractional adjustments to sales for restaurants that were not open for the entire fiscal year presented (e.g., a restaurant is closed for renovation) to annualize sales for such associated period.
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), restaurant-level operating profit (loss) margin and adjusted general and administrative expenses (“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 and average unit volumes; 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 and societal conditions; the Company’s ability to compete with 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 spending behavior 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 any material failure, weakness, interruption or cybersecurity breach of our third parties’ systems; 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 Income (Loss) (in thousands, except for per share data; unaudited) | ||||||||||||||||
| Three months ended August 31, | Twelve months ended August 31, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Sales | $ | 88,881 | $ | 79,448 | $ | 328,276 | $ | 282,763 | ||||||||
| Restaurant operating costs: | ||||||||||||||||
| Food and beverage costs | 26,431 | 22,547 | 98,593 | 80,772 | ||||||||||||
| Labor and related costs | 27,049 | 24,708 | 101,805 | 93,014 | ||||||||||||
| Occupancy and related expenses | 6,939 | 5,611 | 25,971 | 21,002 | ||||||||||||
| Depreciation and amortization expenses | 4,857 | 3,771 | 17,215 | 13,598 | ||||||||||||
| Other costs | 12,974 | 11,939 | 48,924 | 40,943 | ||||||||||||
| Total restaurant operating costs | 78,250 | 68,576 | 292,508 | 249,329 | ||||||||||||
| General and administrative expenses | 9,922 | 9,288 | 40,633 | 37,747 | ||||||||||||
| Depreciation and amortization expenses | 125 | 120 | 498 | 448 | ||||||||||||
| Impairment and disposal of long-lived assets | 1,227 | — | 1,227 | — | ||||||||||||
| Total operating expenses | 89,524 | 77,984 | 334,866 | 287,524 | ||||||||||||
| Operating income (loss) | (643 | ) | 1,464 | (6,590 | ) | (4,761 | ) | |||||||||
| Other expense (income): | ||||||||||||||||
| Interest expense | 17 | 14 | 67 | 70 | ||||||||||||
| Interest income | (450 | ) | (866 | ) | (2,234 | ) | (3,102 | ) | ||||||||
| Income (loss) before income taxes | (210 | ) | 2,316 | (4,423 | ) | (1,729 | ) | |||||||||
| Income tax expense | 86 | 43 | 222 | 175 | ||||||||||||
| Net income (loss) | $ | (296 | ) | $ | 2,273 | $ | (4,645 | ) | $ | (1,904 | ) | |||||
| Net income (loss) per Class A and Class B shares | ||||||||||||||||
| Basic | $ | (0.02 | ) | $ | 0.19 | $ | (0.38 | ) | $ | (0.16 | ) | |||||
| Diluted | $ | (0.02 | ) | $ | 0.18 | $ | (0.38 | ) | $ | (0.16 | ) | |||||
| Weighted average Class A and Class B shares outstanding | ||||||||||||||||
| Basic | 12,151 | 12,098 | 12,132 | 11,916 | ||||||||||||
| Diluted | 12,151 | 12,386 | 12,132 | 11,916 | ||||||||||||
| Other comprehensive income (loss): | ||||||||||||||||
| Unrealized gain (loss) on investments | $ | 29 | $ | (15 | ) | $ | (31 | ) | $ | (23 | ) | |||||
| Comprehensive income (loss) | $ | (267 | ) | $ | 2,258 | $ | (4,676 | ) | $ | (1,927 | ) | |||||
| Kura Sushi USA, Inc. Selected Balance Sheet Data and Selected Operating Data (in thousands, except restaurants and percentages; unaudited) | ||||||||
| August 31, 2026 | August 31, 2025 | |||||||
| Selected Balance Sheet Data: | ||||||||
| Cash and cash equivalents | $ | 28,384 | $ | 47,498 | ||||
| Total assets | $ | 481,131 | $ | 430,942 | ||||
| Total liabilities | $ | 249,194 | $ | 199,872 | ||||
| Total stockholders’ equity | $ | 231,937 | $ | 231,070 | ||||
| Three months ended August 31, | Twelve months ended August 31, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Selected Operating Data: | ||||||||||||||||
| Restaurants at the end of period | 95 | 79 | 95 | 79 | ||||||||||||
| Average unit volumes | N/A | N/A | $ | 3,800 | $ | 3,947 | ||||||||||
| Comparable restaurant sales performance | (5.7 | )% | 0.2 | % | (0.4 | )% | (1.3 | )% | ||||||||
| EBITDA | $ | 4,339 | $ | 5,355 | $ | 11,123 | $ | 9,285 | ||||||||
| Adjusted EBITDA | $ | 7,707 | $ | 7,409 | $ | 22,186 | $ | 19,065 | ||||||||
| Adjusted EBITDA margin | 8.7 | % | 9.3 | % | 6.8 | % | 6.7 | % | ||||||||
| Operating income (loss) | $ | (643 | ) | $ | 1,464 | $ | (6,590 | ) | $ | (4,761 | ) | |||||
| Operating income (loss) margin | (0.7 | )% | 1.8 | % | (2.0 | )% | (1.7 | )% | ||||||||
| Restaurant-level operating profit | $ | 16,959 | $ | 15,698 | $ | 58,989 | $ | 52,121 | ||||||||
| Restaurant-level operating profit margin | 19.1 | % | 19.8 | % | 18.0 | % | 18.4 | % | ||||||||
| 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) | ||||||||||||||||
| Three months ended August 31, | Twelve months ended August 31, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Net income (loss) | $ | (296 | ) | $ | 2,273 | $ | (4,645 | ) | $ | (1,904 | ) | |||||
| Litigation(3) | — | 209 | 1,453 | 2,314 | ||||||||||||
| Impairment and disposal of long-lived assets(5) | 1,227 | — | 1,227 | — | ||||||||||||
| Adjusted net income (loss) | $ | 931 | $ | 2,482 | $ | (1,965 | ) | $ | 410 | |||||||
| Net income (loss) per Class A and Class B diluted shares | $ | (0.02 | ) | $ | 0.18 | $ | (0.38 | ) | $ | (0.16 | ) | |||||
| Litigation(3) | — | 0.02 | 0.12 | 0.19 | ||||||||||||
| Impairment and disposal of long-lived assets(5) | 0.10 | — | 0.10 | — | ||||||||||||
| Adjusted net income (loss) per Class A and Class B diluted shares | $ | 0.08 | $ | 0.20 | $ | (0.16 | ) | $ | 0.03 | |||||||
| Weighted average Class A and Class B shares outstanding | ||||||||||||||||
| Diluted shares | 12,151 | 12,386 | 12,132 | 11,916 | ||||||||||||
| Adjusted diluted shares | 12,335 | 12,386 | 12,132 | 12,193 | ||||||||||||
| Kura Sushi USA, Inc. Reconciliation of General and Administrative Expenses to Adjusted General and Administrative Expenses, General and Administrative Expenses as a Percentage of Sales and Adjusted General and Administrative Expenses as a Percentage of Sales (in thousands, except percentages; unaudited) | ||||||||||||||||
| Three months ended August 31, | Twelve months ended August 31, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| General and administrative expenses | $ | 9,922 | $ | 9,288 | $ | 40,633 | $ | 37,747 | ||||||||
| Litigation(3) | — | (209 | ) | (1,453 | ) | (2,314 | ) | |||||||||
| Adjusted general and administrative expenses | $ | 9,922 | $ | 9,079 | $ | 39,180 | $ | 35,433 | ||||||||
| General and administrative expenses as a percentage of sales | 11.2 | % | 11.7 | % | 12.4 | % | 13.3 | % | ||||||||
| Adjusted general and administrative expenses as a percentage of sales | 11.2 | % | 11.4 | % | 11.9 | % | 12.5 | % | ||||||||
| Kura Sushi USA, Inc. Reconciliation of Net Income (Loss) to EBITDA, Adjusted EBITDA and Adjusted EBITDA margin (in thousands, except percentages; unaudited) | ||||||||||||||||
| Three months ended August 31, | Twelve months ended August 31, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Net income (loss) | $ | (296 | ) | $ | 2,273 | $ | (4,645 | ) | $ | (1,904 | ) | |||||
| Interest income, net | (433 | ) | (852 | ) | (2,167 | ) | (3,032 | ) | ||||||||
| Income tax expense | 86 | 43 | 222 | 175 | ||||||||||||
| Depreciation and amortization expenses | 4,982 | 3,891 | 17,713 | 14,046 | ||||||||||||
| EBITDA | 4,339 | 5,355 | 11,123 | 9,285 | ||||||||||||
| Stock-based compensation expense(1) | 1,279 | 1,235 | 4,820 | 4,735 | ||||||||||||
| Non-cash lease expense(2) | 862 | 610 | 3,563 | 2,731 | ||||||||||||
| Litigation(3) | — | 209 | 1,453 | 2,314 | ||||||||||||
| Impairment and disposal of long-lived assets(5) | 1,227 | — | 1,227 | — | ||||||||||||
| Adjusted EBITDA | $ | 7,707 | $ | 7,409 | $ | 22,186 | $ | 19,065 | ||||||||
| Adjusted EBITDA margin | 8.7 | % | 9.3 | % | 6.8 | % | 6.7 | % | ||||||||
| Kura Sushi USA, Inc. Reconciliation of Operating Income (Loss) to Restaurant-level Operating Profit, Operating Income (Loss) Margin and Restaurant-level Operating Profit Margin (in thousands, except percentages; unaudited) | ||||||||||||||||
| Three months ended August 31, | Twelve months ended August 31, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Operating income (loss) | $ | (643 | ) | $ | 1,464 | $ | (6,590 | ) | $ | (4,761 | ) | |||||
| Depreciation and amortization expenses | 4,982 | 3,891 | 17,713 | 14,046 | ||||||||||||
| Stock-based compensation expense(1) | 1,279 | 1,235 | 4,820 | 4,735 | ||||||||||||
| Pre-opening costs(4) | 374 | 260 | 1,578 | 1,565 | ||||||||||||
| Non-cash lease expense(2) | 862 | 610 | 3,563 | 2,731 | ||||||||||||
| Impairment and disposal of long-lived assets(5) | 1,227 | — | 1,227 | — | ||||||||||||
| General and administrative expenses | 9,922 | 9,288 | 40,633 | 37,747 | ||||||||||||
| Corporate-level stock-based compensation in general and administrative expenses | (1,044 | ) | (1,050 | ) | (3,955 | ) | (3,942 | ) | ||||||||
| Restaurant-level operating profit | $ | 16,959 | $ | 15,698 | $ | 58,989 | $ | 52,121 | ||||||||
| Operating income (loss) margin | (0.7 | )% | 1.8 | % | (2.0 | )% | (1.7 | )% | ||||||||
| Restaurant-level operating profit margin | 19.1 | % | 19.8 | % | 18.0 | % | 18.4 | % | ||||||||
| (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 and 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. | |
| (5) | Impairment and disposal of long-lived assets include an impairment charge related to one restaurant location as a result of its performance and other restaurants’ losses on disposal of equipment. | |
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Kura Sushi USA's fiscal fourth-quarter 2026 results?
Kura Sushi USA reported $88.9 million in sales and a net loss of $0.3 million, or $0.02 per diluted share. A year earlier, sales were $79.4 million and net income was $2.3 million, or $0.18 per diluted share. Comparable restaurant sales declined 5.7%.
What is Kura Sushi USA's fiscal 2027 outlook?
Kura Sushi USA expects $376 million–$381 million in sales and 17 new restaurants in fiscal 2027. Average net capital expenditures per new restaurant are expected to be approximately $2.6 million. Guidance also calls for general and administrative expenses of approximately 11.5% of sales and restaurant-level operating profit margins of approximately 19.0%.
How does Kura Sushi USA calculate comparable restaurant sales?
Kura Sushi USA includes restaurants operating for at least 18 full calendar months by the end of the reporting period in its comparable sales base. The company uses this threshold because new restaurants experience higher sales upon opening. Comparative periods are also adjusted for restaurants that were temporarily closed.
What does Kura Sushi USA's restaurant-level operating profit exclude?
Kura Sushi USA's non-GAAP restaurant-level operating profit excludes general and administrative expenses and certain other costs, including depreciation and amortization and pre-opening costs. It is not a measure of overall company profitability and does not accrue directly to shareholders because corporate-level and other excluded expenses still affect company results.