Kura Sushi Usa, Inc. · NASDAQ:KRUS
Kura Sushi Usa — ICR Virtual Conference 2021
25 slides from Kura Sushi Usa's conference presentation, Jan 11, 2021
Slide 1: ICR Virtual Conference: Kura Sushi management presentation
ICR Virtual Conference, January 12 & 13, 2021 Kura Sushi management presentation Exhibit 99.2
Slide 2: Disclaimer
Disclaimer This presentation has been prepared for informational purposes only. No money or other consideration is being solicited, and if sent in response, will not be accepted. This presentation shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shal
Slide 3: Section 1: Company Overview
Section 1: company Overview
Slide 4: Company Overview: Kura experience video
COMPANY overview Kura experience video
Slide 5: System footprint and anticipated new markets
Fiscal Years 2021, 2022 Company overview System footprint and Anticipated New markets DC WA MI FL AZ OR NY PA MA MD HI Legend Existing Market Currently Under Construction Identified Market
Slide 6: Financial snapshot: historical unit growth and recent performance
Non-GAAP: See Appendix B for Reconciliation COMPANY overview Financial snapshot Historical unit growth Recent financial performance 31-32 (E)
Slide 7: Section 2: Growth and Near-term Strategy
Section 2: growth and Near-term strategy
Slide 8: Growth and Near-Term Strategy: key assumptions
GROWTH AND NEAR-TERM Strategy Our sales levels, as compared to prior year, continue to track proportionately to dining room capacity restrictions, indicating strong, ongoing consumer demand. Automation-heavy restaurant model will become an increasingly meaningful competitive advantage as labor infla
Slide 9: Growth and Near-Term Strategy: fiscal 2021 progress
GROWTH AND NEAR-TERM Strategy Four stores have been opened to-date in fiscal year 21, allowing us to enter three new markets. Fort Lee, NJ, opened in September and is significantly outperforming expectations Washington, D.C., opened in November. Koreatown, Los Angeles, opened in November. Aventura,
Slide 10: New unit pipeline
GROWTH AND NEAR-TERM Strategy New unit pipeline Robust pipeline for fiscal years 21 and 22 Planned markets and leases under negotiation Under construction Executed leases Sherman Oaks, CA Bellevue, WA Troy, MI Stonestown Galleria, San Francisco, CA Watertown, MA Oakbrook, IL Chandler, AZ Camelback C
Slide 11: Growth and near-term strategy: off-premises focus
Growth and near-term strategy Historically, our focus has been on driving revenue through in-restaurant sales. As we believe a significant component of our consumer appeal is the Kura Experience, building off-premises sales were a low priority, with the off-premises sales mix representing only 1% of
Slide 12: Growth and near-term strategy (continued): Square rollout
(continued) Growth and near-term strategy We have completed our pilot program with Square, and completed our systemwide rollout in December. We can also now offer mobile ordering through our existing app via Square’s ordering page (see right). These efforts have driven much stronger off-premises sal
Slide 13: Summary of store operation status
(All dates refer to the beginning of each month) Growth and near-term strategy Summary of Store operation Status Outdoor dining was banned throughout CA as of 12/6/20, resulting in all CA stores being open for only off-premises from 12/6/20 onwards.
Slide 14: Recent trends: store performance and indoor dining count
Growth and near-term strategy Recent trends Store Performance Store Count with Indoor Dining
Slide 15: Recent revenue trends: off-premises revenue
Growth and near-term strategy Recent revenue trends Off-Premises Revenue Store Performance Store Count with Indoor Dining
Slide 16: Weekly expenditure analysis
Growth and near-term strategy Weekly Expenditure analysis
Slide 17: Section 3: Financial
Section 3: Financial
Slide 18: Condensed statements of operations
Financial Condensed statements of operations (in thousands, except per share amounts; unaudited)
Slide 19: Selected balance sheet data and operating data
Financial Selected Balance Sheet Data and Selected Operating Data (in thousands, except restaurants and percentages; unaudited)
Slide 20: Appendix A: Definitions
APPENDIX A: DEFINITIONS O<HKURAH
Slide 21: Appendix A: Non-GAAP definitions
Appendix a EBITDA, a non-GAAP measure, is defined as net income (loss) before interest, income taxes and depreciation and amortization. Adjusted EBITDA, a non-GAAP measure, is defined as EBITDA plus stock-based compensation expense, non-cash lease expense, asset disposals, closure costs and restaura
Slide 22: Appendix A: Non-GAAP measures
Appendix a To supplement the condensed financial statements presented in accordance with U.S. generally accepted accounting principles (“GAAP”), certain financial measures, such as EBITDA, adjusted EBITDA, adjusted EBITDA margin, restaurant-level operating profit (loss) and restaurant-level operatin
Slide 23: Appendix B: Reconciliations
Appendix b: reconciliations
Slide 24: Reconciliation of Net Loss to EBITDA and Adjusted EBITDA
(in thousands; unaudited) Appendix B Reconciliation of Net Loss to EBITDA and Adjusted EBITDA (1) Stock-based compensation expense includes non-cash stock-based compensation, which is comprised of restaurant-level stock-based compensation included in other costs in the statements of operations and c
Slide 25: Reconciliation of Operating Loss to Restaurant-level Operating Profit (Loss)
(in thousands; unaudited) Appendix B Reconciliation of Operating Loss to Restaurant-level Operating Profit (Loss) (1) Stock-based compensation expense includes non-cash stock-based compensation, which is comprised of restaurant-level stock-based compensation included in other costs in the statements