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Kura Sushi USA, Inc.

KRUS

Kura Sushi USA, Inc. • NASDAQ
$49.13 ▼ -0.61% (-0.30)
Market Cap $595.07 M
52w High $110.66
52w Low $40.03
Dividend Yield 0%
P/E -307.06
Volume 147.96K
Outstanding Shares 12.11M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $79.448M ▲ $9.408M ▼ $2.273M ▲ 2.861% ▲ $0.19 ▲ $6.221M ▲
Q3-2025 $73.965M ▲ $53.199M ▲ $565K ▲ 0.764% ▲ $0.047 ▲ $4.1M ▲
Q2-2025 $64.894M ▲ $11.095M ▼ $-3.781M ▼ -5.826% ▼ $-0.31 ▼ $-334K ▼
Q1-2025 $64.456M ▼ $47.263M ▲ $-961K ▲ -1.491% ▲ $-0.084 ▲ $2.182M ▲
Q4-2024 $66.012M $15.076M $-5.201M -7.879% $-0.46 $-1.995M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $62.462M ▲ $430.942M ▲ $199.872M ▲ $231.07M ▲
Q3-2025 $60.503M ▼ $419.373M ▲ $192.369M ▲ $227.004M ▲
Q2-2025 $85.171M ▼ $410.372M ▲ $185.327M ▲ $225.045M ▼
Q1-2025 $107.677M ▲ $403.769M ▲ $176.192M ▲ $227.577M ▲
Q4-2024 $50.986M $328.522M $165.984M $162.538M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $2.273M ▲ $9.373M ▲ $-9.542M ▲ $535K ▲ $366K ▲ $-1.256M ▼
Q3-2025 $565K ▲ $6.715M ▲ $-44.787M ▼ $45K ▼ $-38.039M ▼ $18.981M ▲
Q2-2025 $-3.781M ▼ $4.261M ▼ $-26.896M ▼ $129K ▼ $-22.506M ▼ $-7.374M ▼
Q1-2025 $-961K ▲ $4.362M ▲ $-12.5M ▼ $64.829M ▲ $56.691M ▲ $6.305M ▲
Q4-2024 $-5.201M $669K $-9.203M $115K $-8.419M $-9.661M

Five-Year Company Overview

Income Statement

Income Statement Revenue has been growing steadily over the last few years, showing that the concept is catching on with customers and new locations. Profitability is still around breakeven, with small swings between modest profit and modest loss as the company invests in expansion and absorbs higher costs. Margins are improving over the long run but remain thin, which is typical for an early‑stage restaurant growth story. Overall, this looks like a business still in the “scale up” phase rather than a mature profit machine.

Balance Sheet

Balance Sheet The asset base has expanded meaningfully as the company opens more restaurants and builds out its technology‑heavy format. Debt has risen but is being balanced by growth in shareholder equity, suggesting a reasonable use of leverage for expansion rather than distress financing. Cash levels are solid but not excessive, indicating some cushion yet not a large idle war chest. The balance sheet looks like that of a growing chain carefully stretching to fund new units, with moderate financial risk that still needs ongoing monitoring.

Cash Flow

Cash Flow The core business is generating positive cash flow from operations, which is a healthy sign that the restaurant model works at the unit level. However, the company is spending heavily on new locations and equipment, so free cash flow is negative as growth investments outpace internal cash generation. This pattern is normal for an expanding concept but means the business is reliant on continued access to capital markets or credit to fund its build‑out. Sustainability will depend on new stores ramping up quickly enough to support this investment cycle.

Competitive Edge

Competitive Edge Kura Sushi has a distinct niche: a tech‑driven, conveyor‑belt “eatertainment” sushi concept that stands out in a crowded restaurant market. The combination of gamified rewards, branded collaborations, and automation creates a memorable experience that is hard for traditional sushi or casual dining players to copy quickly. Operationally, its focus on efficiency and automation can help offset labor pressures and support consistent service as it scales. The main competitive risks are copycat formats, changing consumer tastes, and the challenge of keeping the experience fresh as the novelty wears off or as it enters more mainstream markets.

Innovation and R&D

Innovation and R&D Innovation is at the core of the model, focused less on lab research and more on technology, operations, and customer experience. The company uses robotics, automated belts, smart plate tracking, and AI‑driven waitlist systems to run restaurants more efficiently and collect rich data on customer behavior. On the demand side, frequent pop‑culture and anime collaborations, gamified prizes, and upgraded reservation systems help keep traffic strong and visits engaging. Looking ahead, its ability to keep refining menus, data tools, and in‑store tech will be key to preserving its differentiation as competitors respond.

Summary

Kura Sushi USA is a fast‑growing, concept‑driven restaurant chain that is trading near‑term profits for long‑term scale. The financial profile shows healthy revenue growth, thin but gradually improving economics, and significant investment in new units and technology, resulting in negative free cash flow. Its competitive edge lies in a unique, tech‑infused sushi experience and strong operational automation, but it faces the usual growth risks: execution on rapid expansion, cost inflation, and maintaining novelty and brand appeal. Overall, this is an early‑stage growth story built on a distinctive format, where the central question is how efficiently and sustainably it can convert its innovative experience into durable, system‑wide profitability over time.

NEWS

September 2, 2025 · 4:05 PM UTC

Kura Sushi USA to Participate in Two Investor Conferences in September

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