NASDAQ: KRUS
KURA SUSHI USA, INC.CIK 0001772177 · SIC 5812 · Eating Places
Kura Sushi USA, Inc. (“Kura Sushi”) is a technology-enabled Japanese restaurant concept that provides guests with a distinctive dining experience by serving authentic Japanese cuisine through an engaging revolving sushi service model, which we refer to as the “Kura Experience.” We encourage healthy… About this business →
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Latest financial statements
From 10-Q filed Jul 7, 2026 (period ending May 31, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Statements of Operations and Comprehensive Income (Loss) (Unaudited)
(amounts in thousands, except for per share data)
| Description | Three months ended May 31, 2026 | Three months ended May 31, 2025 | Nine months ended May 31, 2026 | Nine months ended May 31, 2025 |
|---|---|---|---|---|
| Sales | 85,922 | 73,965 | 239,395 | 203,315 |
| Restaurant operating costs: | ||||
| Food and beverage costs | 25,911 | 20,928 | 72,162 | 58,225 |
| Labor and related costs | 26,280 | 24,478 | 74,756 | 68,306 |
| Occupancy and related expenses | 6,676 | 5,538 | 19,032 | 15,391 |
| Depreciation and amortization expenses | 4,236 | 3,450 | 12,358 | 9,827 |
| Other costs | 12,556 | 10,883 | 35,950 | 29,004 |
| Total restaurant operating costs | 75,659 | 65,277 | 214,258 | 180,753 |
| General and administrative expenses | 10,193 | 8,741 | 30,711 | 28,459 |
| Depreciation and amortization expenses | 109 | 109 | 373 | 328 |
| Total operating expenses | 85,961 | 74,127 | 245,342 | 209,540 |
| Operating loss | (39) | (162) | (5,947) | (6,225) |
| Other expense (income): | ||||
| Interest expense | 17 | 30 | 50 | 56 |
| Interest income | (528) | (812) | (1,784) | (2,236) |
| Income (loss) before income taxes | 472 | 620 | (4,213) | (4,045) |
| Income tax expense | 49 | 55 | 136 | 132 |
| Net income (loss) | 423 | 565 | (4,349) | (4,177) |
| Net income (loss) per Class A and Class B shares | ||||
| Basic | 0.03 | 0.05 | (0.36) | (0.35) |
| Diluted | 0.03 | 0.05 | (0.36) | (0.35) |
| Weighted average Class A and Class B shares outstanding | ||||
| Basic | 12,146 | 12,086 | 12,126 | 11,855 |
| Diluted | 12,359 | 12,311 | 12,126 | 11,855 |
| Other comprehensive income (loss): | ||||
| Unrealized loss on investments | (60) | (8) | (14) | (8) |
| Comprehensive income (loss) | 363 | 557 | (4,363) | (4,185) |
Condensed Balance Sheets (Unaudited)
(amounts in thousands, except for par value)
| Description | May 31, 2026 | August 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | 24,372 | 47,498 |
| Short-term investments | 19,943 | 14,964 |
| Accounts and other receivables | 7,063 | 6,410 |
| Inventories | 2,560 | 2,141 |
| Due from affiliate | 16 | 126 |
| Prepaid expenses and other current assets | 4,936 | 4,308 |
| Total current assets | 58,890 | 75,447 |
| Non-current assets: | ||
| Property and equipment net | 203,765 | 171,190 |
| Operating lease right-of-use assets | 179,039 | 146,416 |
| Long-term investments | 21,771 | 29,542 |
| Deposits and other assets | 8,113 | 8,347 |
| Total assets | 471,578 | 430,942 |
| Liabilities and stockholders' equity | ||
| Current liabilities: | ||
| Accounts payable | 12,107 | 11,533 |
| Accrued expenses and other current liabilities | 4,880 | 4,116 |
| Salaries and wages payable | 11,256 | 10,310 |
| Operating lease liabilities current | 15,687 | 14,083 |
| Due to affiliate | 462 | 525 |
| Sales tax payable | 2,490 | 2,213 |
| Total current liabilities | 46,882 | 42,780 |
| Non-current liabilities: | ||
| Operating lease liabilities non-current | 192,262 | 155,932 |
| Other liabilities | 1,588 | 1,160 |
| Total liabilities | 240,732 | 199,872 |
| Commitments and contingencies (Note 8) | ||
| Stockholders' equity: | ||
| Preferred stock, $0.001 par value; 1,000 shares authorized, no shares issued or outstanding | — | — |
| Class A common stock, $0.001 par value; 50,000 shares authorized, 11,150 and 11,111 shares issued and outstanding as of May 31, 2026 and August 31, 2025, respectively | 11 | 11 |
| Class B common stock, $0.001 par value; 10,000 shares authorized, 1,000 shares issued and outstanding as of May 31, 2026 and August 31, 2025 | 1 | 1 |
| Additional paid-in capital | 270,112 | 265,973 |
| Accumulated deficit | (39,241) | (34,892) |
| Accumulated other comprehensive loss | (37) | (23) |
| Total stockholders' equity | 230,846 | 231,070 |
| Total liabilities and stockholders' equity | 471,578 | 430,942 |
Condensed Statements of Cash Flows (Unaudited)
(amounts in thousands)
| Description | Nine months ended May 31, 2026 | Nine months ended May 31, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net loss | (4,349) | (4,177) |
| Adjustments to reconcile net loss to net cash provided by operating activities | ||
| Depreciation and amortization | 12,731 | 10,155 |
| Stock-based compensation, net of amounts capitalized | 3,541 | 3,501 |
| Loss on disposal of property and equipment | 19 | — |
| Bond premium amortization | 146 | 284 |
| Changes in operating assets and liabilities: | ||
| Accounts and other receivables | (360) | (473) |
| Inventories | (419) | (74) |
| Due from affiliate | 110 | 153 |
| Prepaid expenses and other current assets | (198) | (298) |
| Deposits and other assets | 221 | (261) |
| Accounts payable | 671 | 343 |
| Accrued expenses and other current liabilities | (118) | (448) |
| Salaries and wages payable | 946 | 1,615 |
| Operating lease liabilities and assets | 5,324 | 4,851 |
| Due to affiliate | (73) | 6 |
| Sales tax payable | 235 | 161 |
| Net cash provided by operating activities | 18,427 | 15,338 |
| Cash flows from investing activities | ||
| Payments for property and equipment | (43,272) | (36,698) |
| Payments for initial direct costs | (305) | (277) |
| Purchases of liquor licenses | (1,012) | (1,011) |
| Purchases of investments | (35,302) | (70,197) |
| Maturities and redemptions of investments | 37,900 | 24,000 |
| Net cash used in investing activities | (41,991) | (84,183) |
| Cash flows from financing activities | ||
| Repayment of principal on finance leases | (66) | (49) |
| Taxes paid on vested restricted stock awards | (361) | (256) |
| Proceeds from exercise of stock options | 865 | 942 |
| Proceeds from the follow-on public offering, net of discounts and commissions | — | 64,626 |
| Payments of costs related to the follow-on offering | — | (272) |
| Net cash provided by financing activities | 438 | 64,991 |
| Decrease in cash and cash equivalents | (23,126) | (3,854) |
| Cash and cash equivalents, beginning of period | 47,498 | 50,986 |
| Cash and cash equivalents, end of period | 24,372 | 47,132 |
| Supplemental disclosures of cash flow information | ||
| Cash paid for income taxes | 207 | 231 |
| Noncash investing activities | ||
| Acquisition of finance leases | 66 | 114 |
| Amounts unpaid for purchases of property and equipment | 4,059 | 2,574 |
| Stock-based compensation capitalized to property and equipment, net | 94 | 110 |
Amounts as printed on the EDGAR/iXBRL face — (amounts in thousands, except for per share data); (amounts in thousands, except for par value); (amounts in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
About KURA SUSHI USA, INC.
Source: Item 1 (Business) from the 10-K filed November 6, 2025. Description as filed by the company with the SEC.
Item 1. Business
Company Overview
Kura Sushi USA, Inc. (“Kura Sushi”) is a technology-enabled Japanese restaurant concept that provides guests with a distinctive dining experience by serving authentic Japanese cuisine through an engaging revolving sushi service model, which we refer to as the “Kura Experience.” We encourage healthy lifestyles by serving freshly prepared Japanese cuisine using high-quality ingredients that are free from artificial seasonings, sweeteners, colorings, and preservatives. We aim to make quality Japanese cuisine accessible to our guests across the United States through affordable prices and an inviting atmosphere.
Kura Sushi is headquartered in Irvine, California and was established in 2008 as a subsidiary of Kura Sushi, Inc. (“Kura Japan”), a Japan-based revolving sushi chain with over 650 restaurants internationally and 45 years of brand history. Kura Sushi opened its first restaurant in Irvine, California in 2009, and currently operates 82 restaurants across 22 U.S. states and Washington, DC.
Kura Japan owns 4,126,500 shares of our Class A common stock and all of our 1,000,050 Class B common stock. Kura Japan’s combined ownership of Class A common stock and Class B common stock represents 67% of the combined voting power of our equity interests. As a result, we are a “controlled company” within the meaning of the corporate governance rules of the Nasdaq Stock Market, and Kura Japan can exert significant voting influence over fundamental an
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