KURA SUSHI USA (KRUS) Company Report

Kura Sushi is targeting growth to 300+ units in the U.S. at a 20% annual clip, currently operating 83 units across 22 states and D.C..
The company projects an 18% restaurant-level margin for FY 2026, with a goal to reach "meaningfully closer" to 20% in FY 2027, driven by the full benefit of recent pricing, 50 basis points improvement from robotic dishwashers (to be installed in H2 FY26), and reduced cannibalization from new market expansion.
New unit performance for classes of 2025 and 2026 is outperforming prior classes by at least 10%, attributed to improved site selection and landlord relationships, while the cost to build a unit remains at $2.5 million due to increased tenant improvement allowances.
Kura Sushi filed a $100 million shelf registration in late December, supported by $75 million in cash and an untapped $45 million revolver, to enable quick capital raising under favorable market conditions.
Recent strong performance in November and December was driven by LTOs, IP campaigns, and a 4.5% effective price increase as of November 1st. The company anticipates meaningful comparable sales outperformance in the current quarter (Q1 FY26) due to continuous IP collaborations, unlike the five-month gap in FY 2025.

6 days ago

Transcript

Kura Sushi Provides FY 2026 Outlook and Operational Updates

KRUS

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Kura Sushi (KRUS) anticipates a restaurant-level margin of 18% for FY 2026, with a target to reach closer to 20% in FY 2027. This improvement is expected from the full benefit of recent pricing, the introduction of robotic dishwashers, and reduced cannibalization from new market expansion.
The company reported strong sales performance in November and December 2025, driven by an LTO and IP campaign, and a 4.5% effective price increase as of November 1st. New unit openings from the Class of 2025 and 2026 are outperforming previous classes by at least 10% due to improved site selection and landlord relationships.
Kura Sushi filed a $100 million shelf registration in late December 2025 to provide future financing flexibility, supported by a strong balance sheet with $75 million in cash and an untapped $45 million revolver. Tariffs are impacting COGS by 150-200 basis points for FY 2026, but the company has mitigated this through supplier negotiations.
The Kura Rewards program boasts 1 million members who visit 2-3 times more frequently and have a $6 higher average check. The company is expanding its reservation system and plans to introduce tiered statuses for its rewards program, while ensuring "always-on" IP partnerships for FY 2026.

6 days ago

Transcript

Kura Sushi Provides FY 2026 Guidance and Growth Strategy Updates

KRUS

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Kura Sushi (KRUS) is targeting 300+ units in the U.S. with a 20% annual unit growth rate. The company expects a restaurant-level margin of 18% for fiscal 2026, with a goal to reach "meaningfully closer to that 20% mark" in fiscal 2027 due to factors like full-year pricing benefits, workers' comp improvements, reduced cannibalization from new markets, and robotic dishwashers.
The company has filed a $100 million shelf registration to allow for quick capital raising when market conditions are favorable, noting a robust balance sheet with $75 million in cash and an untapped $45 million revolver.
New unit openings from the class of 2025 and 2026 are outperforming prior classes by at least 10%, driven by improved site selection using AI and stronger landlord relationships. The cost to build a new Kura unit remains at $2.5 million, with increased tenant improvement allowances offsetting rising gross costs.
Kura Sushi anticipates "very meaningful comp outperformance" in the current quarter (FY 2026) due to "always-on" IP partnerships, contrasting with a five-month gap in collaborations during fiscal 2025.

6 days ago

Transcript

Kura Sushi Reports Q1 2026 Results and Reiterates FY26 Guidance

KRUS

Earnings

Guidance Update

Demand Weakening

Kura Sushi reported Q1 2026 total sales of $73.5 million and a net loss of $3.1 million, or negative $0.25 per share.
Comparable sales for Q1 2026 were negative 2.5%, outperforming consensus expectations, and the company aims for qualitative comparable sales on a full-year basis.
Restaurant-level operating profit as a percentage of sales was 15.1% in Q1 2026, with a fiscal 2026 target of approximately 18%.
The company opened 4 new restaurants in Q1 2026 and plans to open a total of 16 new units for fiscal year 2026.
A 3.5% menu price increase was implemented on November 1st, and management expects a 100 basis point improvement in labor costs as a percentage of sales for fiscal 2026, despite ongoing tariff pressures impacting costs.

Jan 7, 2026, 10:00 PM

Transcript

Kura Sushi USA Inc. Reports Q1 2026 Results and Reaffirms Full-Year Guidance

KRUS

Earnings

Guidance Update

New Projects/Investments

Kura Sushi USA Inc. (KRUS) reported Q1 2026 total sales of $73.5 million and a net loss of $3.1 million (negative $0.25 per share), with comparable restaurant sales declining by 2.5%.
The company reiterated its fiscal year 2026 guidance, projecting total sales between $330 million and $334 million, 16 new unit openings, and full-year restaurant-level operating profit margins of approximately 18%.
KRUS expects positive comparable sales in Q2 2026 and remains confident in achieving flat to slightly positive comparable sales for the full year, supported by momentum from November and a 3.5% price increase.
Key operational updates include opening four new restaurants in Q1 with 10 more under construction, and plans to begin installing robotic dishwashers in Q3.

Jan 7, 2026, 10:00 PM

Transcript

Kura Sushi USA Inc. Reports Q1 2026 Results and Reaffirms FY 2026 Guidance

KRUS

Earnings

Guidance Update

Demand Weakening

Kura Sushi USA Inc. (KRUS) reported Q1 2026 total sales of $73.5 million and a comparable sales decrease of 2.5%, which outperformed consensus expectations.
For Q1 2026, the company recorded a net loss of $3.1 million (or negative $0.25 per share) and an adjusted net loss of $2.8 million (or negative $0.23 per share).
Restaurant-level operating profit was 15.1% of sales in Q1 2026 , with cost of goods at 29.9% of sales , primarily impacted by tariffs.
KRUS reiterated its FY 2026 guidance, projecting total sales between $330 million and $334 million, 16 new unit openings, and full-year restaurant-level operating profit margins of approximately 18%. The company expects positive comparable sales for the full year and specifically for Q2 2026.

Jan 7, 2026, 10:00 PM

Transcript

Kura Sushi USA Announces Fiscal First Quarter 2026 Financial Results

KRUS

Earnings

Guidance Update

New Projects/Investments

Kura Sushi USA reported total sales of $73.5 million for the fiscal first quarter ended November 30, 2025, an increase from $64.5 million in the first quarter of 2025.
The company experienced a net loss of $3.1 million, or $(0.25) per diluted share, in Q1 2026, compared to a net loss of $1.0 million, or $(0.08) per diluted share, in Q1 2025.
Comparable restaurant sales decreased 2.5% for the first quarter of 2026.
Kura Sushi USA reiterated its fiscal year 2026 guidance, projecting total sales between $330 million and $334 million and planning for 16 new restaurant openings.

Jan 7, 2026, 9:05 PM

Press Release

KRUS Reports Q4 2025 Results and Issues FY 2026 Guidance

KRUS

Earnings

Guidance Update

Demand Weakening

KRUS reported Q4 2025 total sales of $79.4 million and 0.2% comparable sales growth, resulting in net income of $2.3 million ($0.18 per share) and adjusted EBITDA of $7.4 million.
For fiscal year 2025, the company opened a record 15 new locations and achieved over 30% annual adjusted EBITDA growth. FY 2026 guidance projects total sales between $330 million and $334 million, 16 new unit openings, and full-year restaurant-level operating profit margins of approximately 18%.
Strategic initiatives include the rollout of robotic dishwashers to approximately 50 existing restaurants, expecting a 50 basis point labor improvement in those units. The company also implemented a 3.5% menu price increase on November 1st and anticipates negative mid-single digit comparable sales for Q1 2026, targeting flat to slightly positive comparable sales for the full fiscal year.

Nov 6, 2025, 10:00 PM

Transcript

Kura Sushi USA Announces Fiscal Fourth Quarter and Fiscal Year 2025 Financial Results

KRUS

Earnings

Guidance Update

Revenue Acceleration/Inflection

Kura Sushi USA reported a significant turnaround in Q4 2025, achieving net income of $2.3 million, or $0.18 per diluted share, compared to a net loss of $5.2 million, or $(0.46) per diluted share, in Q4 2024.
For the fourth quarter of 2025, total sales increased to $79.4 million from $66.0 million in the prior year, with comparable restaurant sales up 0.2%.
Fiscal year 2025 saw total sales of $282.8 million and Adjusted EBITDA of $19.1 million, representing over 30% growth year-over-year.
The company opened 15 new restaurants in fiscal year 2025 and projects total sales between $330 million and $334 million for fiscal year 2026, with plans for 16 new restaurant openings.

Nov 6, 2025, 9:27 PM

8-K

Kura Sushi USA Announces Fiscal Fourth Quarter and Fiscal Year 2025 Financial Results

KRUS

Earnings

Guidance Update

New Projects/Investments

Kura Sushi USA reported total sales of $79.4 million and net income of $2.3 million, or $0.18 per diluted share, for the fiscal fourth quarter ended August 31, 2025.
For the full fiscal year 2025, the company achieved total sales of $282.8 million and an adjusted net income of $0.4 million, or $0.03 per diluted share.
The company opened a record 15 new locations during fiscal year 2025.
For fiscal year 2026, Kura Sushi USA projects total sales between $330 million and $334 million and plans to open 16 new restaurants.