Kura Sushi USA(US:KRUS)2026-01-07 21:19Financial Performance - Total sales for the fiscal first quarter 2026 were $73.5 million, an increase of 14.7% compared to $64.5 million in the first quarter of 2025[6] - Comparable restaurant sales decreased by 2.5%, driven by negative traffic of 2.5% and flat price/mix compared to the first quarter of 2025[6] - Operating loss was $3.7 million, worsening from an operating loss of $1.5 million in the first quarter of 2025[9] - Net loss was $3.1 million, or $(0.25) per diluted share, compared to a net loss of $1.0 million, or $(0.08) per diluted share, in the first quarter of 2025[9] - Adjusted net loss was $2.8 million, or $(0.23) per diluted share, compared to an adjusted net loss of $1.0 million, or $(0.08) per diluted share, in the first quarter of 2025[12] - Restaurant-level operating profit was $11.1 million, representing 15.1% of sales, down from $11.7 million, or 18.2% of sales, in the first quarter of 2025[12] Growth and Expansion - The company opened four new restaurants during the fiscal first quarter of 2026, contributing to a total of 83 locations across 22 states and Washington DC[13][17] - For the full fiscal year 2026, the company projects total sales between $330 million and $334 million, with 16 new restaurant openings planned[17] - The number of restaurants at the end of the period increased to 83 in November 2025, compared to 70 in August 2025, showing a growth of 18.6%[31] Cost and Expense Management - General and administrative expenses as a percentage of sales decreased to 13.0% from 13.5% in the first quarter of 2025, despite an increase in total expenses[10] - Food and beverage costs as a percentage of sales increased to 29.9% from 29.0% in the first quarter of 2025, primarily due to tariffs on imported ingredients[7] - Total restaurant operating costs rose to $67,455 thousand in Q4 2025, up from $57,088 thousand in Q4 2024, an increase of 18.1%[29] Comparative Performance - Sales for the three months ended November 30, 2025, increased to $73,455 thousand from $64,456 thousand in the same period of 2024, representing a growth of 12.4%[29] - Comparable restaurant sales performance declined by 2.5% in Q4 2025, compared to an increase of 1.8% in Q4 2024[31] - Restaurant-level operating profit was $11,088 thousand in Q4 2025, down from $11,714 thousand in Q4 2024, a decrease of 5.3%[37] - Adjusted EBITDA for Q4 2025 was $2,435 thousand, down from $3,572 thousand in Q4 2024, indicating a decline of 31.8%[35] Asset and Liability Overview - Total assets increased to $443,511 thousand as of November 30, 2025, from $430,942 thousand as of August 31, 2025, a growth of 2.6%[31] - Total liabilities rose to $214,310 thousand in November 2025, up from $199,872 thousand in August 2025, an increase of 7.1%[31]