Kura Sushi Usa, Inc. · NASDAQ:KRUS
Kura Sushi Usa — Farm to Market Conference 2021
24 slides from Kura Sushi Usa's conference presentation, May 19, 2021
Slide 1: Kura Sushi management presentation, Farm to Market Conference, May 19-20, 2021
Kura Sushi management presentation Farm to market conference, may 19-20, 2021 Exhibit 99.1
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 Section 1 Company Overview Section 2 Growth and Near-term Strategy Section 3 Financial Appendix A Definitions Appendix B Reconciliations
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 GA TX CA IL NJ NV DC WA MI FL AZ NY PA MA MD HI Legend Existing Market Currently Under Construction Identified Market
Slide 6: Financial snapshot
Non-GAAP: See Appendix B for Reconciliation COMPANY overview Financial snapshot Historical unit growth Recent financial performance 32 (E) (US$ in thousands) Fiscal Year 2019 Fiscal Year 2020 FY20 Q2 FY21 Q2 Average Unit Volumes $3,498 $1,942 n.a. n.a. Comparable Restaurant Sales Growth 6.2% (37.8)%
Slide 7: Section 2: Growth and Near-term Strategy
Section 2: growth and Near-term strategy Section 1 Company Overview Section 2 Growth and Near-term Strategy Section 3 Financial Appendix A Definitions Appendix B Reconciliations Appendix C Supplemental Data
Slide 8: 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 Bellevue, WA Chandler, AZ Camelback Colonnade, AZ Stonestown Galleria, San Francisco, CA Oakbrook, IL Watertown, MA Alhambra, CA
Slide 9: Growth and near-term strategy: Off-premises
CA Reopening Square Launch GH Launch 4Q20 1Q21 2Q21 3Q21 Growth and near-term strategy Off-premises August September October November December January February March Grubhub $35K $85K $120K $110K $0 $0 $0 $0 Square $0 $0 $0 $50K $540K $520K $430K $460K Total $330K $400K $430K $470K $860K $860 $650 $
Slide 10: Growth and near-term strategy: Off-premises (continued)
(continued) Growth and near-term strategy Off-premises
Slide 11: Section 3: Financial Overview
Section 3: Financial Section 1 Overview Section 2 Growth and Near-term Strategy Section 3 Financial Appendix A Definitions Appendix B Reconciliations Appendix C Supplemental Data
Slide 12: Condensed statements of operations
Financial Condensed statements of operations (in thousands, except per share amounts; unaudited) Three Months Ended Six Months Ended February 28, 2021 February 29, 2020 February 28, 2021 February 29, 2020 Sales $ 9,082 $ 19,388 $ 18,496 $ 36,828 Restaurant operating costs: Food and beverage costs 3,
Slide 13: Selected balance sheet data and selected operating data
Financial Selected Balance Sheet Data and Selected Operating Data (in thousands, except restaurants and percentages; unaudited) February 28, 2021 August 31, 2020 Selected Balance Sheet Data: Cash, cash equivalents and restricted cash $ 2,271 $ 9,259 Total assets $ 118,409 $ 118,379 Loan from affilia
Slide 14: Appendix A: Definitions
Appendix A: definitions Section 1 Company Overview Section 2 Growth and Near-term Strategy Section 3 Summary Appendix A Definitions Appendix B Reconciliations Appendix C Supplemental Data
Slide 15: Appendix A: Definitions of non-GAAP measures
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 16: 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 17: Appendix B: Reconciliations
Appendix b: reconciliations Section 1 Company Overview Section 2 Growth and Near-term Strategy Section 3 Summary Appendix A Definitions Appendix B Reconciliations Appendix C Supplemental Data
Slide 18: Appendix B: Reconciliation footnotes
Appendix B (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 corporate-level stock-based compensation included in general and administrative expen
Slide 19: 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 co
Slide 20: 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
Slide 21: Appendix C: Supplemental Data
Appendix C: supplemental data Section 1 Company Overview Section 2 Growth and Near-term Strategy Section 3 Summary Appendix A Definitions Appendix B Reconciliations Appendix C Supplemental Data
Slide 22: Weekly expenditure analysis
Appendix c Weekly Expenditure analysis Expenditure Bucket FY20 Q4 (A) FY21 Q1 (A) FY21 Q2 (A) FY21 Q3 – Q4 (E) Capex $400K $500K $255K $250K G&A(1) $225K $250K $255K $300K - $310K RL Expenditures $225K $75K $100K - Total $850K $825K $610K - All G&A figures are exclusive of Employee Retention Credits
Slide 23: Summary of store operation status
2Q21 3Q21 (All dates refer to the beginning of each month) Appendix c Summary of Store operation Status December January February March April California Stores (15 units as of December) Indoor 0 0 0 0 16 (3) Outdoor + Off –Prem 9 0 12 12 0 Off-Prem Only 6 15 1 1 0 Closed 0 0 2 2 0 Other Markets (13
Slide 24: Recent trends
Appendix c Recent trends November December January February March(1) Revenue $3.1M $2.8M $3.2M $3.1M $5.1M Comp Sales (53)% (64)% (60)% (57)% (31)% CA Comps (65)% (82)% (81)% (68)% (50)% TX Comps (33)% (35)% (28)% (45)% (6)% Store Performance November December January February March CA 8 0 0 0 0 Non