KURA SUSHI USA, INC.

Listed Company

KRUSCIK 0001772177NasdaqAcceleratedRetail-Eating PlacesDelawareFY ends Aug 31

Period

FY 2025

Revenue

$282.76M

Net Income

$-1.90M

Total Assets

$430.94M

Equity

$231.07M

Shares Out

—

Op. Cash Flow

$24.71M

Business

KURA SUSHI USA, INC. operates a technology-enabled Japanese restaurant concept that delivers an engaging revolving sushi service model known as the “Kura Experience.” It offers freshly prepared sushi and a broad menu of authentic Japanese dishes and sides, complemented by proprietary features such as the Mr. Fresh dome, express belt orders, Bikkura-Pon rewards, and tablet ordering. Its business comprises restaurant operations, site development and real estate, supply chain and food preparation systems, and shared services and licensed intellectual property relationships. The company serves guests across the United States through dine-in conveyor service, on-demand express delivery within restaurants, off-premises channels, digital marketing, and a loyalty program.

Summary from filing dated 2025-11-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-08-31	FY 2024 2024-08-31	FY 2023 2023-08-31	FY 2022 2022-08-31	FY 2021 2021-08-31
Sales	283	238	187	141	65
Depreciation and amortization expenses	14	11	7	5	4
Other costs	41	34	24	18	10
Total restaurant operating costs	249	208	159	119	59
General and administrative expenses	38	39	28	22	16
Depreciation and amortization expenses	448,000	425,000	410,000	355,000	396,000
Impairment of long-lived assets	—	2	0	0	—
Total operating expenses	288	249	187	142	75
Operating income (loss)	−5	−12	332,000	−754,000	−10
Interest expense	70,000	47,000	69,000	87,000	220,000
Interest income	−3	−3	−1	−151,000	−20,000
Income (loss) before income taxes	−2	−9	2	−690,000	−10
Income tax expense	175,000	167,000	233,000	74,000	106,000
Net income (loss)	−2	−9	2	−764,000	−10
Basic (per share)	−0.16	−0.79	0.15	−0.08	−1.21
Diluted (per share)	−0.16	−0.79	0.14	−0.08	−1.21
Basic (shares)	12	11	10	10	9
Diluted (shares)	12	11	11	10	9
Unrealized gain (loss) on short-term investments	−23,000	−43,000	43,000	—	—
Comprehensive income (loss)	−2	−9	2	−764,000	−10

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-08-31	FY 2024 2024-08-31	FY 2023 2023-08-31	FY 2022 2022-08-31	FY 2021 2021-08-31
Cash and cash equivalents	47	51	70	36	40
Short-term investments	15	—	9	0	—
Accounts and other receivables	6	5	5	2	2
Inventories	2	2	2	1	733,000
Prepaid expenses and other current assets	4	3	4	3	14
Total current assets	75	61	89	42	57
Property and equipment net	171	139	106	76	54
Operating lease right-of-use assets	146	124	104	80	64
Long-term investments	30	—	—	—	—
Deposits and other assets	8	5	5	3	2
Total assets	431	329	305	201	178
Accounts payable	12	9	7	6	5
Accrued expenses and other current liabilities	4	4	3	4	3
Salaries and wages payable	10	8	8	6	5
Operating lease liabilities current	14	11	9	8	6
Due to affiliate	525,000	373,000	—	—	—
Sales tax payable	2	2	2	1	869,000
Total current liabilities	43	34	29	25	20
Operating lease liabilities non-current	156	131	110	82	66
Other liabilities	1	808,000	646,000	483,000	398,000
Total liabilities	200	166	140	108	87
Commitments and contingencies (Note 11)	—	—	—	—	—
Preferred stock, $0.001 par value; 1,000 shares authorized, no shares issued or outstanding	—	—	—	—	—
Additional paid-in capital	266	196	189	119	116
Accumulated deficit	−35	−33	−24	−26	−25
Accumulated other comprehensive loss	−23,000	—	43,000	—	—
Total stockholders' equity	231	163	165	93	91
Total liabilities and stockholders' equity	431	329	305	201	178

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-08-31	FY 2024 2024-08-31	FY 2023 2023-08-31	FY 2022 2022-08-31	FY 2021 2021-08-31
Net income (loss)	−2	−9	2	−764,000	−10
Depreciation and amortization	14	12	8	6	5
Stock-based compensation, net of amounts capitalized	5	4	4	2	1
Gain on short-term investments	—	—	43,000	—	—
Loss on disposal of property and equipment	109,000	22,000	53,000	12,000	111,000
Bond premium amortization	345,000	—	—	—	—
Accounts and other receivables	−2	−2	−353,000	−131,000	−264,000
Inventories	78,000	−472,000	−627,000	−387,000	−366,000
Due from affiliate	40,000	−62,000	52,000	173,000	−317,000
Prepaid expenses and other current assets	−627,000	1	−1	11	−11
Deposits and other assets	−1	336,000	146,000	−326,000	−61,000
Accounts payable	3	623,000	2	−172,000	908,000
Accrued expenses and other current liabilities	−718,000	1	−336,000	912,000	2
Salary and wages payable	2	715,000	2	1	3
Operating lease liabilities	7	5	4	−61,000	−411,000
Due to affiliate	109,000	2,000	65,000	14,000	82,000
Sales tax payable	288,000	314,000	335,000	371,000	680,000
Net cash provided by operating activities	25	16	18	24	−7
Payments for property and equipment	−46	−44	−39	−27	−14
Payments for initial direct costs	−513,000	−432,000	−550,000	−510,000	−436,000
Payments for purchases of liquor licenses	−2	−275,000	−2	−896,000	−156,000
Purchases of investments	−75	−4	−9	—	—
Maturities and redemption of investments	30	12	750,000	—	—
Net cash used in investing activities	−94	−36	−50	−28	−15
Repayment of principal on finance leases	−51,000	−75,000	−498,000	−975,000	−1
Taxes paid on vested restricted stock awards	−346,000	−280,000	—	−154,000	—
Proceeds from stock option exercises	2	2	2	959,000	515,000
Proceeds from follow-on public offering, net of discounts and commissions	65	—	65	—	54
Payments of costs related to the follow-on offering	−272,000	—	−600,000	—	−606,000
Net cash provided by financing activities	66	2	66	−170,000	53
Increase (decrease) in cash and cash equivalents	−3	−19	34	−5	31
Cash paid for income taxes (net of refunds)	257,000	265,000	108,000	206,000	148,000
Acquisition of finance leases	172,000	34,000	61,000	34,000	27,000
Amounts unpaid for purchases of property and equipment	3	3	2	2	1
Stock-based compensation capitalized to property and equipment- net	146,000	218,000	—	—	—

Filings

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