$KRUS
KURA SUSHI USA, INC.

2024 Q4 Form 10-Q Financial Statement

#000095017025002849 Filed on January 07, 2025

View on sec.gov

Income Statement

Concept 2024 Q4
Revenue $64.46M
YoY Change 25.22%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.200M
YoY Change 23.08%
% of Gross Profit
Operating Expenses $65.93M
YoY Change 21.38%
Operating Profit -$1.474M
YoY Change -48.12%
Interest Expense $13.00K
YoY Change 62.5%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$922.0K
YoY Change -54.11%
Income Tax $39.00K
% Of Pretax Income
Net Earnings -$961.0K
YoY Change -53.05%
Net Earnings / Revenue -1.49%
Basic Earnings Per Share -$0.08
Diluted Earnings Per Share -$0.08
COMMON SHARES
Basic Shares Outstanding 11.42M
Diluted Shares Outstanding 11.42M

Balance Sheet

Concept 2024 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $107.7M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $2.107M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $118.3M
YoY Change 44.13%
LONG-TERM ASSETS
Property, Plant & Equipment $146.3M
YoY Change 27.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $285.5M
YoY Change 25.64%
TOTAL ASSETS
Total Short-Term Assets $118.3M
Total Long-Term Assets $285.5M
Total Assets $403.8M
YoY Change 30.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.960M
YoY Change 1.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $34.13M
YoY Change 9.7%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities $935.0K
YoY Change 43.4%
Total Long-Term Liabilities $935.0K
YoY Change 43.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $34.13M
Total Long-Term Liabilities $935.0K
Total Liabilities $176.2M
YoY Change 21.05%
SHAREHOLDERS EQUITY
Retained Earnings -$33.95M
YoY Change 29.42%
Common Stock $261.5M
YoY Change 37.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $227.6M
YoY Change
Total Liabilities & Shareholders Equity $403.8M
YoY Change 30.54%

Cashflow Statement

Concept 2024 Q4
OPERATING ACTIVITIES
Net Income -$961.0K
YoY Change -53.05%
Depreciation, Depletion And Amortization $3.200M
YoY Change 23.08%
Cash From Operating Activities $4.362M
YoY Change 79.65%
INVESTING ACTIVITIES
Capital Expenditures $11.56M
YoY Change 22.99%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$12.50M
YoY Change 55.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 64.83M
YoY Change 115666.07%
NET CHANGE
Cash From Operating Activities 4.362M
Cash From Investing Activities -12.50M
Cash From Financing Activities 64.83M
Net Change In Cash 56.69M
YoY Change -1124.04%
FREE CASH FLOW
Cash From Operating Activities $4.362M
Capital Expenditures $11.56M
Free Cash Flow -$7.193M
YoY Change 3.24%

Facts In Submission

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CY2024Q4 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Reclassifications</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Certain prior period amounts have been reclassified to conform to the current period presentation.</span></p>
CY2024Q4 us-gaap Fiscal Period
FiscalPeriod
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Fiscal Year</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company’s fiscal year begins on September 1 and ends on August 31, and references made to “fiscal year 2025” and “fiscal year 2024” refer to the Company’s fiscal years ending August 31, 2025 and ended August 31, 2024</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, respectively.</span></p>
CY2024Q4 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Preparing financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods presented.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Significant </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">items subject to such estimates include asset retirement obligations, stock-based compensation, the useful lives of assets, the assessment of the recoverability of long-lived assets, and income taxes. The Company evaluates its estimates and</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">assumptions </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could differ materially from those estimates and assumptions.</span></p>
CY2024Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
4866000
CY2024Q3 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
4573000
CY2024Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
188327000
CY2024Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
177458000
CY2024Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
42045000
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
38869000
CY2024Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
146282000
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
138589000
CY2024Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3200000
CY2023Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2600000
CY2024Q4 krus Credit Card Purchases
CreditCardPurchases
1331000
CY2024Q3 krus Credit Card Purchases
CreditCardPurchases
1443000
CY2024Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
202000
CY2024Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
169000
CY2024Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
40000
CY2024Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
30000
CY2024Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1623000
CY2024Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2619000
CY2024Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
3196000
CY2024Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
4261000
CY2024Q4 krus Operating And Finance Leases Remaining Lease Start Range Terms Description
OperatingAndFinanceLeasesRemainingLeaseStartRangeTermsDescription
less than 1 year
CY2024Q4 us-gaap Lessee Operating Lease Lease Not Yet Commenced Existence Of Option To Extend
LesseeOperatingLeaseLeaseNotYetCommencedExistenceOfOptionToExtend
true
CY2024Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
3804000
CY2023Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
3061000
CY2024Q4 us-gaap Variable Lease Cost
VariableLeaseCost
991000
CY2023Q4 us-gaap Variable Lease Cost
VariableLeaseCost
851000
CY2024Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
4795000
CY2023Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
3912000
CY2024Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
3166000
CY2023Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
2425000
CY2024Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
11016000
CY2023Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4990000
CY2024Q4 krus Lessee Operating Lease Lease Not Yet Commenced Liability
LesseeOperatingLeaseLeaseNotYetCommencedLiability
43700000
CY2024Q4 us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
1.30
CY2024Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
631000
CY2023Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
688000
CY2024Q1 krus Number Of Former Employees Initiated Arbitration Against Company
NumberOfFormerEmployeesInitiatedArbitrationAgainstCompany
2
CY2024Q1 krus Number Of Former Employees Initiated Arbitration Against Company
NumberOfFormerEmployeesInitiatedArbitrationAgainstCompany
3
CY2024Q3 krus Number Of Former Employees Initiated Arbitration Against Company
NumberOfFormerEmployeesInitiatedArbitrationAgainstCompany
5
CY2024Q3 krus Number Of Other Current And Former Employees Asserting Claims Against Company
NumberOfOtherCurrentAndFormerEmployeesAssertingClaimsAgainstCompany
58
CY2024Q3 krus Loss Contingency Settlement Amount
LossContingencySettlementAmount
3900000
CY2024Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
39000
CY2023Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
38000
CY2024Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2024Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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