Kura Sushi USA, Inc. (KRUS) Q2 2026 Financial Results Summary

Irvine, CA. April 7, 2026 – Kura Sushi USA, Inc. (“Kura Sushi” or the “Company”) (NASDAQ: KRUS), a technology-enabled Japanese restaurant concept, today announced financial results for the fiscal second quarter ended February 28, 2026.

Fiscal Second Quarter 2026 Highlights

• Total Sales: $80.0 million, up 23.6% from $64.9 million in Q2 2025.
• Comparable Restaurant Sales: Increased by 8.6%, comprised of traffic growth of 4.3% and pricing/mix increase of 4.3% compared to Q2 2025.
• Operating Loss: $2.2 million, an improvement from an operating loss of $4.6 million in Q2 2025.
• Net Loss: $1.7 million, or $(0.14) per diluted share, compared to a net loss of $3.8 million, or $(0.31) per diluted share in Q2 2025.
• Adjusted Net Loss: $0.5 million, or $(0.04) per diluted share, improving from an adjusted net loss of $1.7 million, or $(0.14) per diluted share in Q2 2025.
• Restaurant-level Operating Profit: $14.6 million, or 18.2% of sales, compared to $11.2 million, or 17.3% of sales in Q2 2025.
• Adjusted EBITDA: $5.5 million, up from $2.7 million in Q2 2025.
• Restaurant Development: One new restaurant opened in Pflugerville, Texas, during the second quarter.

Detailed Financial Review

• Food and Beverage Costs: 30.4% of sales, compared to 28.7% in Q2 2025. Increase attributed to tariffs on imported ingredients but offset by higher menu prices.
• Labor and Related Costs: Decreased to 30.7% of sales from 34.8% in Q2 2025, driven by operational efficiencies and better sales leverage, despite some low-single-digit wage inflation.
• Occupancy Costs: Increased to $6.5 million from $5.1 million in Q2 2025, primarily due to the opening of eleven new restaurants since the same quarter last year.
• Other Costs: 14.5% of sales, an increase from 13.5% in Q2 2025 due to rising marketing expenses and utilities.
• General and Administrative Expenses: Remained at $11.0 million, with a decrease in overall percentage to 13.7% from 16.9% in Q2 2025, due to increased sales leverage.

Quarterly Summary of Losses

• Income Tax Expense: $51 thousand, slightly increased from $38 thousand in Q2 2025.
• Overall Net Loss: Improved to 2.1% of total sales, from 5.8% in Q2 2025.
• EBITDA: Showed positive growth reaching $2.0 million, compared to a loss of $1.2 million in the same quarter the previous year.

Annual Projections for Fiscal Year 2026

• Total Sales Guidance: Optimistically projected between $333 million and $335 million.
• Restaurant Growth: Plan to open 16 new restaurants, maintaining an annual unit growth rate above 20% with average capital expenditures per unit of approximately $2.5 million.
• General and Administrative Expenses Target: Implied to be approximately 12.0% of total sales, excluding litigation expenses.
• Restaurant-Level Operating Profit Margins: Expected between 18.0% and 18.5%.

Dividend and Share Repurchase

The report does not mention any declaration of a quarterly dividend or any share repurchase activities.

Conclusion

The fiscal second quarter of 2026 for Kura Sushi reflects significant progress with improvements in sales, reductions in net losses, and strategic restaurant openings. The company's focus on operational efficiencies has positively affected various cost ratios, showcasing a commitment to sustainable growth. The forward-looking statements highlight a strong outlook for continued expansion, underscored by ambitious sales targets and initiatives in its operational strategy.

Note: The following tables present amounts in thousands.

Kura Sushi USA, Inc. Condensed Consolidated Statements of Income (unaudited)	Three Months Ended February 28, 2026	Three Months Ended February 28, 2025	Six Months Ended February 28, 2026	Six Months Ended February 28, 2025
Sales	$80,018	$64,894	$153,473	$129,350
Restaurant operating costs:
Food and beverage costs	24,317	18,630	46,251	37,297
Labor and related costs	24,578	22,593	48,476	43,828
Occupancy and related expenses	6,518	5,099	12,356	9,853
Depreciation and amortization expenses	4,142	3,286	8,122	6,377
Other costs	11,589	8,780	23,394	18,121
Total restaurant operating costs	71,144	58,388	138,599	115,476
General and administrative expenses	10,967	10,985	20,518	19,718
Depreciation and amortization expenses	135	110	264	219
Total operating expenses	82,246	69,483	159,381	135,413
Operating loss	(2,228)	(4,589)	(5,908)	(6,063)
Other expense (income):
Interest expense	15	13	33	26
Interest income	(582)	(859)	(1,256)	(1,424)
Loss before income taxes	(1,661)	(3,743)	(4,685)	(4,665)
Income tax expense	51	38	87	77
Net loss	$(1,712)	$(3,781)	$(4,772)	$(4,742)
Net loss income per Class A and Class B shares
Basic	$(0.14)	$(0.31)	$(0.39)	$(0.40)
Diluted	$(0.14)	$(0.31)	$(0.39)	$(0.40)
Weighted average Class A and Class B shares outstanding
Basic	12,120	12,073	12,116	11,737
Diluted	12,120	12,073	12,116	11,737
Other comprehensive loss:
Unrealized gain on short-term investments	$6	$—	$46	$—
Comprehensive loss	$(1,706)	$(3,781)	$(4,726)	$(4,742)

Note: The following table presents amounts in thousands.

Kura Sushi USA, Inc. Selected Balance Sheet Data and Selected Operating Data (unaudited)	February 28, 2026	August 31, 2025
Selected Balance Sheet Data:
Cash and cash equivalents	$26,605	$47,498
Total assets	$460,980	$430,942
Total liabilities	$232,169	$199,872
Total stockholders’ equity	$228,811	$231,070
Selected Operating Data:
Restaurants at the end of period	84	73
Comparable restaurant sales performance	8.6	(5.3)
EBITDA	2,049	(1,193)
Adjusted EBITDA	$5,460	$(2,674)
Adjusted EBITDA margin	6.8%	4.1%
Operating loss	(2,228)	(4,589)
Operating loss margin	(2.8)%	(7.1)%
Restaurant-level operating profit	$14,566	$11,217
Restaurant-level operating profit margin	18.2%	17.3%

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