Kura Sushi USA(KRUS) - 2025 Q2 - Quarterly Results

Financial Performance - Total sales for the fiscal second quarter of 2025 were $64.9 million, an increase from$57.3 million in the same quarter of 2024[5] - The net loss for the three months ended February 28, 2025, was $3.781 million, compared to a net loss of$0.998 million for the same period in 2024, indicating a significant increase in losses[27] - Net loss for the quarter was $3.8 million, or$(0.31) per diluted share, compared to a net loss of $1.0 million, or$(0.09) per diluted share, in the second quarter of 2024[10] - Adjusted net loss was $1.7 million, or$(0.14) per diluted share, compared to an adjusted net loss of $1.0 million, or$(0.09) per diluted share, in the second quarter of 2024[11] - Adjusted EBITDA for the three months ended February 28, 2025, was $2.674 million, slightly down from$2.850 million in the same period last year, resulting in an adjusted EBITDA margin of 4.1%[29] Sales and Revenue Trends - Comparable restaurant sales decreased by 5.3% in the second quarter of 2025 compared to the second quarter of 2024, primarily due to reduced traffic[5] - Comparable restaurant sales performance declined by 5.3% for the three months ended February 28, 2025, compared to an increase of 3.0% in the same period of 2024[29] - Total sales for the three months ended February 28, 2025, increased to $64.894 million, up from$57.291 million for the same period in 2024, representing a growth of 13.8%[27] Operating Costs and Expenses - The operating loss was $4.6 million, compared to an operating loss of$1.7 million in the second quarter of 2024[8] - Restaurant operating costs for the three months ended February 28, 2025, totaled $58.388 million, compared to$50.706 million in the prior year, reflecting an increase of 15.4%[27] - General and administrative expenses increased to $11.0 million, or 16.9$2.1 million litigation settlement[9] - The operating loss margin for the three months ended February 28, 2025, was 7.1%, compared to 2.9% in the same period of 2024, indicating a worsening of operational efficiency[29] Growth and Expansion - The company opened three new restaurants during the fiscal second quarter of 2025, with a total of 11 units opened to date and six more under construction[4][12] - For the full fiscal year 2025, the company projects total sales between $275 million and$279 million and plans to open 14 new restaurants[16] - The number of restaurants at the end of the period increased to 73, up from 59 in the previous year, marking a growth of 23.7%[29] Assets and Equity - Total assets as of February 28, 2025, were $410.372 million, up from$328.522 million as of August 31, 2024, reflecting a growth of 24.9%[29] - Total stockholders' equity increased to $225.045 million as of February 28, 2025, compared to$162.538 million as of August 31, 2024, representing a growth of 38.5%[29] Strategic Focus - The company is focusing on new market opportunities and has begun testing several systems projects that have been in development[4]