Kura Sushi USA(KRUS) - 2025 Q4 - Annual Results

Sales Performance - Total sales for Q4 2025 were $79.4 million, up from $66.0 million in Q4 2024, representing a growth of approximately 20.5%[6] - Total sales for fiscal year 2025 were $282.8 million, an increase from $237.9 million in fiscal year 2024, reflecting a growth of approximately 18.8%[13] - Sales for the three months ended August 31, 2025, increased to $79,448,000, up 20.4% from $66,012,000 in the same period of 2024[33] Profitability - Adjusted net income for Q4 2025 was $2.5 million, or $0.20 per diluted share, compared to $1.0 million, or $0.09 per diluted share in Q4 2024, marking a 150% increase[8] - Net loss for fiscal year 2025 was $1.9 million, or $(0.16) per diluted share, significantly improved from a net loss of $8.8 million, or $(0.79) per diluted share in fiscal year 2024[14] - Net income for the three months ended August 31, 2025, was $2,273,000, compared to a net loss of $5,201,000 in the same period of 2024[33] - The company reported an operating income of $1,464,000 for the three months ended August 31, 2025, compared to a loss of $5,805,000 in the same period of 2024[33] Operating Metrics - Restaurant-level operating profit for Q4 2025 was $15.7 million, or 19.8% of sales, compared to $13.8 million, or 20.9% of sales in Q4 2024[12] - Restaurant-level operating profit for the three months ended August 31, 2025, was $15,698,000, with a margin of 19.8%, slightly down from 20.9% in 2024[42] - Comparable restaurant sales increased by 0.2% in Q4 2025, driven by a traffic increase of 0.5% and a price/mix decrease of 0.3% compared to Q4 2024[6] - Comparable restaurant sales performance for the three months ended August 31, 2025, was 0.2%, a recovery from a decline of 3.1% in the same period of 2024[34] Expenses and Efficiency - General and administrative expenses as a percentage of sales decreased to 11.7% in Q4 2025 from 20.3% in Q4 2024, primarily due to sales leverage and reduced litigation expenses[10] - General and administrative expenses for the three months ended August 31, 2025, decreased to $9,288,000 from $13,416,000 in 2024, improving efficiency[38] Future Projections and Expansion - For fiscal year 2026, the company projects total sales between $330 million and $334 million, with plans to open 16 new restaurants[17] - The company opened a record of 15 new locations during fiscal year 2025, contributing to its expansion strategy[5] Asset Growth - Total assets as of August 31, 2025, rose to $430,942,000, up from $328,522,000 in 2024, indicating strong asset growth[35] - Total stockholders' equity increased to $231,070,000 as of August 31, 2025, compared to $162,538,000 in 2024, reflecting improved financial health[35] EBITDA - Adjusted EBITDA for fiscal year 2025 was $19.1 million, compared to $14.6 million in fiscal year 2024, indicating a growth of approximately 30.8%[15] - Adjusted EBITDA for the twelve months ended August 31, 2025, was $19,065,000, a significant increase from $14,564,000 in 2024, reflecting a margin improvement to 6.7% from 6.1%[40]