0000950170-22-012522 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	May 31, 2022	Jul. 05, 2022
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	May 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Title of 12(b) Security	Class A Common Stock, $0.001 par value per share
Trading Symbol	KRUS
Security Exchange Name	NASDAQ
Entity Registrant Name	KURA SUSHI USA, INC.
Entity Central Index Key	0001772177
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--08-31
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity File Number	001-39012
Entity Tax Identification Number	26-3808434
Entity Address, Address Line One	17461 Derian Avenue
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Incorporation, State or Country Code	DE
Entity Address, Postal Zip Code	92614
City Area Code	657
Local Phone Number	333-4100
Document Quarterly Report	true
Document Transition Report	false
Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		8,740,465
Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,000,050

Condensed Balance Sheets - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Current assets:
Cash and cash equivalents	$ 35,968	$ 40,430
Accounts and other receivables	2,213	2,019
Inventories	884	733
Due from affiliate		329
Prepaid expenses and other current assets	6,108	13,957
Total current assets	45,173	57,468
Non-current assets:
Property and equipment – net	68,677	53,885
Operating lease right-of-use assets	78,569	64,158
Deposits and other assets	3,106	2,158
Total assets	195,525	177,669
Current liabilities:
Accounts payable	6,115	4,920
Accrued expenses and other current liabilities	3,287	2,820
Salaries and wages payable	5,947	4,612
Finance leases – current	697	932
Operating lease liabilities – current	7,062	5,650
Due to affiliate	84	244
Sales tax payable	1,173	869
Total current liabilities	24,365	20,047
Non-current liabilities:
Finance leases – non-current	49	546
Operating lease liabilities – non-current	80,679	65,834
Other liabilities	472	398
Total liabilities	105,565	86,825
Commitments and contingencies (Note 8)
Stockholders' equity:
Preferred stock, $0.001 par value; 1,000 shares authorized, no shares issued or outstanding
Additional paid-in capital	117,549	115,756
Accumulated deficit	(27,599)	(24,922)
Total stockholders' equity	89,960	90,844
Total liabilities and stockholders' equity	195,525	177,669
Class A
Stockholders' equity:
Common stock	9	9
Class B
Stockholders' equity:
Common stock	$ 1	$ 1

Condensed Balance Sheets (Parenthetical) - $ / shares	May 31, 2022	Aug. 31, 2021
Preferred stock, par value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Class A
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common Stock, Shares, Issued	8,734,000	8,700,000
Common stock, shares outstanding	8,734,000	8,700,000
Class B
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	10,000,000	10,000,000
Common Stock, Shares, Issued	1,000,000	1,000,000
Common stock, shares outstanding	1,000,000	1,000,000

Condensed Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Condensed Statements of Operations - USD ($) $ in Thousands	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Sales	$ 37,969	$ 18,471	$ 99,091	$ 36,967
Restaurant operating costs:
Depreciation and amortization expenses	1,376	1,086	3,814	3,015
Other costs	4,372	2,713	12,326	6,843
Total restaurant operating costs	31,511	13,183	84,790	35,208
General and administrative expenses	5,900	4,292	16,714	10,687
Depreciation and amortization expenses	85	130	256	299
Total operating expenses	37,496	17,605	101,760	46,194
Operating income (loss)	473	866	(2,669)	(9,227)
Other expense (income):
Interest expense	23	67	70	154
Interest income	(25)	(1)	(75)	(8)
Income (loss) before income taxes	475	800	(2,664)	(9,373)
Income tax (benefit) expense	(2)	30	13	88
Net income (loss)	$ 477	$ 770	$ (2,677)	$ (9,461)
Net income (loss) per Class A and Class B shares
Basic	$ 0.05	$ 0.09	$ (0.28)	$ (1.13)
Diluted	$ 0.05	$ 0.09	$ (0.28)	$ (1.13)
Weighted average Class A and Class B shares outstanding
Basic	9,722	8,383	9,714	8,381
Diluted	10,069	8,663	9,714	8,381
Food and Beverage Costs
Restaurant operating costs:
Cost of goods and services sold	$ 11,282	$ 5,850	$ 29,615	$ 12,078
Labor and Related Costs
Restaurant operating costs:
Cost of goods and services sold	11,788	1,649	31,840	8,070
Occupancy and Related Expenses
Restaurant operating costs:
Cost of goods and services sold	$ 2,693	$ 1,885	$ 7,195	$ 5,202

Condensed Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Class A	Class B	Common Stock Class A	Common Stock Class B	Additional Paid-in-Capital	Accumulated Deficit
Beginning balances at Aug. 31, 2020	$ 45,713			$ 7	$ 1	$ 60,332	$ (14,627)
Beginning balance, shares at Aug. 31, 2020				7,342	1,000
Stock-based compensation	266					266
Exercise of stock options	94					94
Exercise of stock options, Shares				22
Net income (loss)	(6,350)						(6,350)
Ending balances at Nov. 30, 2020	39,723			$ 7	$ 1	60,692	(20,977)
Ending balance, shares at Nov. 30, 2020				7,364	1,000
Beginning balances at Aug. 31, 2020	45,713			$ 7	$ 1	60,332	(14,627)
Beginning balance, shares at Aug. 31, 2020				7,342	1,000
Net income (loss)	(9,461)
Ending balances at May. 31, 2021	37,657			$ 7	$ 1	61,737	(24,088)
Ending balance, shares at May. 31, 2021				7,424	1,000
Beginning balances at Nov. 30, 2020	39,723			$ 7	$ 1	60,692	(20,977)
Beginning balance, shares at Nov. 30, 2020				7,364	1,000
Stock-based compensation	309					309
Exercise of stock options	272					272
Exercise of stock options, Shares				49
Net income (loss)	(3,881)						(3,881)
Ending balances at Feb. 28, 2021	36,423			$ 7	$ 1	61,273	(24,858)
Ending balance, shares at Feb. 28, 2021				7,413	1,000
Stock-based compensation	391					391
Exercise of stock options	73					73
Exercise of stock options, Shares				11
Net income (loss)	770						770
Ending balances at May. 31, 2021	37,657			$ 7	$ 1	61,737	(24,088)
Ending balance, shares at May. 31, 2021				7,424	1,000
Beginning balances at Aug. 31, 2021	90,844			$ 9	$ 1	115,756	(24,922)
Beginning balance, shares at Aug. 31, 2021		8,700	1,000	8,700	1,000
Stock-based compensation	443					443
Employee stock plan	19					19
Employee stock plan, shares				13
Net income (loss)	(1,275)						(1,275)
Ending balances at Nov. 30, 2021	90,031			$ 9	$ 1	116,218	(26,197)
Ending balance, shares at Nov. 30, 2021				8,713	1,000
Beginning balances at Aug. 31, 2021	90,844			$ 9	$ 1	115,756	(24,922)
Beginning balance, shares at Aug. 31, 2021		8,700	1,000	8,700	1,000
Net income (loss)	(2,677)
Ending balances at May. 31, 2022	89,960			$ 9	$ 1	117,549	(27,599)
Ending balance, shares at May. 31, 2022		8,734	1,000	8,734	1,000
Beginning balances at Nov. 30, 2021	90,031			$ 9	$ 1	116,218	(26,197)
Beginning balance, shares at Nov. 30, 2021				8,713	1,000
Stock-based compensation	596					596
Employee stock plan	29					29
Employee stock plan, shares				5
Taxes paid on vested restricted stock awards	(154)					(154)
Taxes paid on vested restricted stock awards, shares				(2)
Net income (loss)	(1,879)						(1,879)
Ending balances at Feb. 28, 2022	88,623			$ 9	$ 1	116,689	(28,076)
Ending balance, shares at Feb. 28, 2022				8,716	1,000
Stock-based compensation	732					732
Employee stock plan	128					128
Employee stock plan, shares				18
Net income (loss)	477						477
Ending balances at May. 31, 2022	$ 89,960			$ 9	$ 1	$ 117,549	$ (27,599)
Ending balance, shares at May. 31, 2022		8,734	1,000	8,734	1,000

Condensed Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
Condensed Statements of Cash Flows - USD ($) $ in Thousands	May 31, 2022	May 31, 2021
Cash flows from operating activities
Net loss	$ (2,677)	$ (9,461)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities
Depreciation and amortization	4,070	3,314
Stock-based compensation	1,771	966
Loss on disposal of property and equipment		91
Non-cash lease expense	2,294	1,975
Changes in operating assets and liabilities:
Accounts and other receivables	(301)	(1,227)
Inventories	(151)	(100)
Due from affiliate	329	10
Prepaid expenses and other current assets	7,849	(8,963)
Deposits and other assets	(124)	(34)
Accounts payable	1,439	71
Accrued expenses and other current liabilities	762	1,129
Salaries and wages payable	1,335	2,969
Operating lease liabilities	93	(1,011)
Due to affiliate	6	76
Sales tax payable	304	498
Net cash provided by (used in) operating activities	16,999	(9,697)
Cash flows from investing activities
Payments for property and equipment	(19,457)	(11,412)
Payments for initial direct costs	(435)
Payments for purchases of liquor licenses	(825)	(111)
Net cash used in investing activities	(20,717)	(11,523)
Cash flows from financing activities
Proceeds from loan from affiliate		17,000
Repayment of principal on finance leases	(766)	(777)
Taxes paid on vested restricted stock awards	(154)
Proceeds from exercise of stock options	176	439
Net cash (used in) provided by financing activities	(744)	16,662
Decrease in cash and cash equivalents	(4,462)	(4,558)
Cash and cash equivalents, beginning of period	40,430	9,259
Cash and cash equivalents, end of period	35,968	4,701
Supplemental disclosures of cash flow information
Cash paid for income taxes	144
Noncash investing activities
Acquisition of finance leases	34
Amounts unpaid for purchases of property and equipment	$ 863	$ 641

Organization and Basis of Presentation

9 Months Ended

May 31, 2022

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization and Basis of Presentation

Note 1. Organization and Basis of Presentation

Kura Sushi USA, Inc. is a technology-enabled Japanese restaurant concept that provides guests with a distinctive dining experience by serving authentic Japanese cuisine through an engaging revolving sushi service model, which the Company refers to as the “Kura Experience.” Kura Sushi encourages healthy lifestyles by serving freshly prepared Japanese cuisine using high-quality ingredients that are free from artificial seasonings, sweeteners, colorings, and preservatives. Kura Sushi aims to make quality Japanese cuisine accessible to its guests across the United States through affordable prices and an inviting atmosphere. “Kura Sushi USA,” “Kura Sushi,” “Kura,” and the “Company” refer to Kura Sushi USA, Inc. unless expressly indicated or the context otherwise requires.

Effects of COVID-19

The negative effects of the COVID-19 pandemic on the Company’s business have been significant. In March 2020, the World Health Organization declared the novel strain of coronavirus COVID-19 a global pandemic. This contagious virus continues to spread, including acceleration of the spread of certain variants of COVID-19 in the areas in which the Company operates. This has adversely affected workforces, customers, economies, supply chains and financial markets globally. In response to this outbreak, many state and local authorities mandated the temporary closure of non-essential businesses and dine-in restaurant activity or limited indoor dining capacities during the Company’s previous two fiscal years. COVID-19 and the government measures taken to control it have caused a significant disruption to the Company’s business operation. Since the end of the Company’s fiscal year 2021, it has been able to operate all of its restaurants with no government restrictions on indoor dining capacity. As of the filing date of this Quarterly Report on Form 10-Q, all of the Company’s restaurants continued to operate with no government restrictions on indoor dining capacity.

In response to the ongoing COVID-19 pandemic, the Company has prioritized taking steps to protect the health and safety of its employees and customers. The Company has maintained cleaning and sanitizing protocols for its restaurants and has implemented additional training and operational manuals for its restaurant employees, as well as increased handwashing procedures. The Company also provides each restaurant employee with face masks and gloves, and requires each employee to pass a health screening process, which includes a temperature check, before the start of each shift.

Under the provisions of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) signed into law on March 27, 2020, and the subsequent extension of the CARES Act, the Company was eligible for refundable employee retention credits subject to certain criteria through the fiscal year ended August 31, 2021. The Company recognized $6.3 million and $8.9 million of employee retention credits during the three and nine months ended May 31, 2021, respectively. For the three months ended May 31, 2021, $5.8 million was included in labor and related costs and $0.5 million was included in general and administrative expenses in the statements of operations, and for the nine months ended May 31, 2021, $8.0 million was included in labor and related costs and $0.9 million was included in general and administrative expenses in the statements of operations. As of August 31, 2021, the Company had recognized and filed for refunds in the amount of $12.1 million of employee retention credits. During the nine months ended May 31, 2022 the Company received $8.0 million in refunds, and through the date of this Quarterly Report on Form 10-Q, the Company has received $12.1 million in refunds.

Consistent with the Company’s long-term growth strategy, the Company expects to continue to open new restaurants in locations where it believes such restaurants have the potential to achieve profitability. The future sales levels of the Company’s restaurants and its ability to implement its growth strategy, however, remain highly uncertain, as the full impact and duration of the COVID-19 pandemic continues to evolve as of the filing date of this Quarterly Report on Form 10-Q. It is possible that renewed outbreaks, increases in cases and/or new variants of the virus, either as part of a national trend or on a more localized basis, could result in additional COVID-19 related restrictions, including capacity restrictions, or otherwise limit the Company’s dine-in services, or negatively affect consumer demand.

Basis of Presentation

The accompanying unaudited condensed financial statements (the “Condensed Financial Statements”) have been prepared by the Company in accordance with generally accepted accounting principles in the United States (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. As such, these Condensed Financial Statements should be read in conjunction with the Company’s audited financial statements and accompanying notes included in its Annual Report on Form 10-K for the fiscal year ended August 31, 2021.

The accounting policies followed by the Company are set forth in Part II, Item 8, Note 2, Basis of Presentation and Summary of Accounting Policies, of the Notes to Financial Statements included in the Company’s Annual Report on Form 10‑K for the fiscal year ended August 31, 2021. In the opinion of management, all adjustments necessary to fairly state the Condensed Financial Statements have been made. All such adjustments are of a normal, recurring nature. The results of operations for interim periods are not necessarily indicative of results to be expected for the fiscal year ending August 31, 2022 or for any other future annual or interim period.

Fiscal Year

The Company’s fiscal year begins on September 1 and ends on August 31, and references made to “fiscal year 2022” and “fiscal year 2021” refer to the Company’s fiscal years ending August 31, 2022 and ended August 31, 2021, respectively.

Use of Estimates

The preparation of 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.

Significant 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 assumptions 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.

Comprehensive Income (Loss)

Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Comprehensive income (loss) is the same as net income (loss) for all periods presented. Therefore, a separate statement of comprehensive income (loss) is not included in the accompanying financial statements.

Recently Issued Accounting Pronouncements

In November 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-10, “Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance,” which provides guidance on disclosures for transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2021, with early adoption permitted. ASU 2021-10 is effective for the Company beginning in fiscal year 2023. The Company is currently in the process of evaluating the effects of this pronouncement on its financial statements.

Recently Adopted Accounting Pronouncements

In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes,” which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The Company adopted this update effective September 1, 2021. The adoption of this update did not impact the consolidated financial statements.

Balance Sheet Components

9 Months Ended

May 31, 2022

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

Note 2. Balance Sheet Components

Accounts and Other Receivables


	May 31, 2022		August 31, 2021
	(amounts in thousands)
Lease receivables	$	1,324	$	1,431
Credit card and other receivables		889		588
Total accounts and other receivables	$	2,213	$	2,019

Prepaid Expenses and Other Current Assets


	May 31, 2022		August 31, 2021
	(amounts in thousands)
Employee retention credit	$	4,056	$	12,007
Prepaid expenses		1,772		1,732
Other current assets		280		218
Total prepaid expenses and other current assets	$	6,108	$	13,957

Property and Equipment - net


	May 31, 2022			August 31, 2021
	(amounts in thousands)
Leasehold improvements	$	52,054		$	43,181
Lease assets		6,166			6,128
Furniture and fixtures		18,841			13,324
Computer equipment		1,177			905
Vehicles		126			110
Software		863			773
Construction in progress		7,961			3,907
Property and equipment – gross		87,188			68,328
Less: accumulated depreciation and amortization		(18,511	)		(14,443	)
Total property and equipment – net	$	68,677		$	53,885

Depreciation and amortization expense for property and equipment was $1.5 million and $1.2 million for the three months ended May 31, 2022 and May 31, 2021, respectively, and was $4.1 million and $3.3 million for the nine months ended May 31, 2022 and May 31, 2021, respectively.

Leases

9 Months Ended

May 31, 2022

Leases [Abstract]

Leases

Note 3. Leases

The Company has operating and finance leases for its corporate office, restaurant locations, office equipment, kitchen equipment and automobiles. The Company’s leases have remaining lease terms of less than 1 year to 20 years, some of which include options to extend the leases.

Lease related costs recognized in the statements of operations are as follows:


		Three Months Ended May 31,				Nine Months Ended May 31,
		2022		2021		2022		2021
		(amounts in thousands)
Finance lease cost	Classification
Amortization of right-of-use assets	Depreciation and amortization expenses	$	145	$	157	$	424	$	465
Interest on lease liabilities	Interest expense		11		20		35		69
Total finance lease cost		$	156	$	177	$	459	$	534


		Three Months Ended May 31,				Nine Months Ended May 31,
		2022		2021		2022		2021
		(amounts in thousands)
Operating lease cost	Classification
Operating lease cost	Occupancy and related expenses, other costs and general and administrative expenses	$	2,088	$	1,571	$	5,835	$	4,687
Variable lease cost	Occupancy and related expenses, and general and administrative expenses		556		401		1,445		898
Total operating lease cost		$	2,644	$	1,972	$	7,280	$	5,585

Supplemental balance sheet information related to leases is as follows:

Operating Leases


	May 31, 2022		August 31, 2021
	(amounts in thousands)
Right-of-use assets	$	78,569	$	64,158

Lease liabilities – current	$	7,062	$	5,650
Lease liabilities – non-current		80,679		65,834
Total lease liabilities	$	87,741	$	71,484

Finance Lease Assets – net


	May 31, 2022			August 31, 2021
	(amounts in thousands)
Property and equipment	$	6,166		$	6,128
Accumulated depreciation		(3,203	)		(2,778	)
Total property and equipment – net	$	2,963		$	3,350

Finance Leases Liabilities


	May 31, 2022		August 31, 2021
	(amounts in thousands)
Finance lease – current	$	697	$	932
Finance lease – non-current		49		546
Total finance lease liabilities	$	746	$	1,478



	Nine months ended May 31,
	2022			2021
Weighted Average Remaining Lease Term (Years)
Operating leases		16.3			16.0
Finance leases		1.0			1.7

Weighted Average Discount Rate
Operating leases		6.4	%		6.6	%
Finance leases		4.7	%		4.5	%

Supplemental disclosures of cash flow information related to leases are as follows:


	Nine Months Ended May 31,
	2022		2021
	(amounts in thousands)
Operating cash flows paid for operating lease liabilities	$	4,781	$	3,234
Operating right-of-use assets obtained in exchange for new operating lease liabilities	$	16,622	$	2,952

As of May 31, 2022, the Company had additional operating lease liabilities of $31.2 million related to restaurants for which the Company has not yet taken possession. These operating leases are expected to commence in fiscal year 2023, with lease terms of 20 years. Subsequent to May 31, 2022, the Company entered into additional operating leases related to restaurants for which the Company has not yet taken possession. The lease liabilities associated with these leases are $6.8 million. These operating leases are expected to commence in fiscal year 2023, with lease terms of 20 years.

Maturities of lease liabilities, net of lease receivables, were as follows:


	Operating Leases			Finance Leases
	(amounts in thousands)
Remainder of 2022	$	902		$	234
2023		6,263			503
2024		7,995			36
2025		8,314			7
2026		8,234			—
Thereafter		110,274			—
Total lease payments		141,982			780
Less: imputed interest		(54,241	)		(34	)
Present value of lease liabilities	$	87,741		$	746

Related Party Transactions

9 Months Ended

May 31, 2022

Related Party Transactions

Note 4. Related Party Transactions

Kura Sushi, Inc. (“Kura Japan”) is the majority shareholder of the Company, and is incorporated and headquartered in Japan. In August 2019, the Company entered into a Shared Services Agreement with Kura Japan, pursuant to which Kura Japan provides the Company with certain strategic, operational and other support services, including assigning certain employees to work for the Company as expatriates to provide support to the Company’s operations, sending its employees to the Company on a short-term basis to provide support for the opening of new restaurants or renovation of existing restaurants, and providing the Company with certain supplies, parts and equipment for use in the Company’s restaurants. In addition, the Company has agreed to continue to provide Kura Japan with certain translational support services and market research. In exchange for such services, supplies, parts and equipment, the parties pay fees to each other as set forth under the Shared Services Agreement. A right of setoff is not required; however, from time to time, either party will net settle transactions as needed. Purchases of administrative supplies, expatriate salaries and travel and other administrative expenses payable to Kura Japan are included in general and administrative expenses in the accompanying statements of operations. Purchases of equipment from Kura Japan are included in property and equipment in the accompanying balance sheets.

In August 2019, the Company entered into an Amended and Restated Exclusive License Agreement (the “License Agreement”) with Kura Japan. Pursuant to the License Agreement, the Company pays Kura Japan a royalty fee of 0.5% of the Company’s net sales in exchange for an exclusive, royalty-bearing license for use of certain of Kura Japan’s intellectual property rights, including, but not limited to, Kura Japan’s trademarks “Kura Sushi” and “Kura Revolving Sushi Bar,” and patents for a food management system and the Mr. Fresh protective dome, among other intellectual property rights necessary to continue operation of the Company’s restaurants. Royalty payments to Kura Japan are included in other costs at the restaurant level in the accompanying statements of operations.

On April 10, 2020, the Company and Kura Japan entered into a Revolving Credit Agreement, as amended, to provide the Company a revolving credit line of $45 million. For additional information, see “Note 6. Debt.”

Balances with Kura Japan are as follows:


	May 31, 2022		August 31, 2021
	(amounts in thousands)
Due from affiliate	$	—	$	329
Due to affiliate	$	84	$	244

Reimbursements and other payments by the Company to Kura Japan were as follows:


	Three Months Ended May 31,				Nine Months Ended May 31,
	2022		2021		2022		2021
	(amounts in thousands)
Related party transactions:
Purchases of administrative supplies	$	—	$	4	$	—	$	76
Expatriate salaries expense		33		30		116		92
Royalty payments		190		93		496		185
Travel and other administrative expenses		5		—		24		17
Purchases of equipment		624		29		1,127		430
Interest expense		—		47		—		74
Total related party transactions	$	852	$	203	$	1,763	$	874

Reimbursements by Kura Japan to the Company were none and $2 thousand for the three months ended May 31, 2022 and May 31, 2021, respectively, and were $28 thousand and $27 thousand for the nine months ended May 31, 2022 and May 31, 2021, respectively. The reimbursements were for travel and other administrative expenses.

Stock-based Compensation

9 Months Ended

May 31, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-based Compensation

Note 5. Stock-based Compensation

The following table summarizes the stock option activity under the Company’s 2018 Incentive Compensation Plan, as amended and restated (the “Stock Incentive Plan”):


	Options Outstanding
	Number of Shares Underlying Outstanding Options			Weighted Average Exercise Price Per Share
Outstanding — August 31, 2021		625,378		$	17.13
Options granted		202,220		$	50.20
Options exercised		(27,598	)	$	6.78
Options canceled/forfeited		(38,410	)	$	38.96
Outstanding — May 31, 2022		761,590		$	25.19

During the nine months ended May 31, 2022, nine thousand restricted stock awards were issued under the Stock Incentive Plan, in addition to the option grants stated above, for which the Company incurred stock-based compensation of $17 thousand and $90 thousand for the three and nine months ended May 31, 2022, respectively.

The total stock-based compensation recognized under the Stock Incentive Plan in the statements of operations is as follows:


	Three Months Ended May 31,				Nine Months Ended May 31,
	2022		2021		2022		2021
	(amounts in thousands)
Restaurant-level stock-based compensation included in other costs	$	88	$	34	$	195	$	83
Corporate-level stock-based compensation included in general and administrative expenses		644		357		1,576		883
Total stock-based compensation	$	732	$	391	$	1,771	$	966

Debt

9 Months Ended

May 31, 2022

Debt Disclosure [Abstract]

Debt

Note 6. Debt

On April 10, 2020, the Company and Kura Japan entered into a Revolving Credit Agreement, as amended, establishing a $45 million revolving credit line for the Company. The maturity date for each advance is 60 months from the date of disbursement and the last day of the period of availability for advances is April 10, 2025. The Revolving Credit Note under the Revolving Credit Agreement has an interest rate for advances fixed at 130% of the Annual Compounding Long-Term Applicable Federal Rate (“AFR”) on the date such advance is made. There are no financial covenants under the Revolving Credit Agreement with which the Company must comply.

As of May 31, 2022, the Company had no outstanding balance and $45.0 million of availability remaining under the Revolving Credit Agreement. During the three and nine months ended May 31, 2021, the Company made no borrowings and made $17.0 million in borrowings, respectively. As of May 31, 2021, the Company had outstanding borrowings of $14.0 million at a fixed interest rate of 1.1% and $3.0 million at a fixed interest rate of 2.8% under the Revolving Credit Agreement. Interest expense for the three and nine months ended May 31, 2021 was immaterial. For additional information, see “Note 4. Related Party Transactions.”

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Income (Loss) Per Share

9 Months Ended

May 31, 2022

Earnings Per Share [Abstract]

Income (Loss) Per Share

Note 7. Income (Loss) Per Share

The net income (loss) per share attributable to common stockholders is allocated based on the contractual participation rights of the Class A common stock and Class B common stock as if the income for the year has been distributed. As the liquidation and dividend rights for Class A and Class B common stock are identical, the net loss attributable to all common stockholders is allocated on a proportionate basis.

The following table sets forth the computation of the Company’s basic and diluted net income (loss) per share:


	Three Months Ended May 31,								Nine Months Ended May 31,
	2022				2021					2022						2021
	Class A		Class B		Class A		Class B			Class A			Class B			Class A			Class B
	(amounts in thousands, except per share data)
Net income (loss) attributable to common stockholders	$	428	$	49	$	678	$	92		$	(2,401	)	$	(276	)	$	(8,332	)	$	(1,129	)

Weighted average common shares outstanding – basic		8,722		1,000		7,383		1,000			8,714			1,000			7,381			1,000
Dilutive effect of stock-based awards		347		—		280		—			—			—			—			—
Weighted average common shares outstanding – diluted		9,069		1,000		7,663		1,000			8,714			1,000			7,381			1,000

Net income (loss) per share attributable to common stockholders – basic	$	0.05	$	0.05	$	0.09	$	0.09		$	(0.28	)	$	(0.28	)	$	(1.13	)	$	(1.13	)
Net income (loss) per share attributable to common stockholders – diluted	$	0.05	$	0.05	$	0.09	$	0.09		$	(0.28	)	$	(0.28	)	$	(1.13	)	$	(1.13	)

The Company computes basic income (loss) per common share using net income (loss) and the weighted average number of common shares outstanding during the period, and computes diluted income (loss) per common share using net income (loss) and the weighted average number of common shares and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares include dilutive outstanding employee stock options.

For the three months ended May 31, 2022 and May 31, 2021, there were 250 thousand and 87 thousand shares of common stock subject to outstanding employee stock options that were excluded from the calculation of diluted income per share because their inclusion would have been anti-dilutive. For the nine months ended May 31, 2022 and May 31, 2021, there were 762 thousand and 586 thousand shares of common stock subject to outstanding employee stock options that were excluded from the calculation of diluted loss per share because their inclusion would have been anti-dilutive.

Commitments and Contingencies

9 Months Ended

May 31, 2022

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 8. Commitments and Contingencies

On May 31, 2019, a putative class action complaint was filed by a former employee, Brandy Gomes, in Los Angeles County Superior Court, alleging violations of California wage and hour laws. On July 9, 2020, plaintiff’s counsel filed a first amended class action complaint to add Jamar Spencer, another former employee, as a plaintiff to this action. In addition, the first amended class action complaint added new causes of action alleging violations of California wage and hour laws including a cause of action brought under the California Private Attorney General Act. On August 7, 2020, the Company filed its answer to the first amended complaint, generally denying the allegations in the complaint. In May 2021, a joint stipulation was filed requesting a delay in the class certification hearing date to March 3, 2022, and a mediation was scheduled for September 24, 2021. During the mediation, a settlement was agreed upon in the amount of $1.75 million. The Company recorded an accrued liability of $1.78 million, including an estimated $30 thousand in employer payroll taxes, related to this settlement within general and administrative expenses in the statements of operations during the fiscal year ended August 31, 2021. A hearing to obtain the Court's preliminary approval of the settlement occurred on May 9, 2022 and will continue on July 8, 2022.

The Company is involved from time to time in various legal proceedings that arise in the ordinary course of business, including but not limited to commercial disputes, environmental matters, employee-related claims, intellectual property disputes and litigation in connection with transactions including acquisitions and divestitures. In the opinion of management, the Company does not believe that such litigation, claims, and administrative proceedings, excluding the putative class action matter referenced above, will have a material adverse effect on its business, financial position, results of operations or cash flows. However, a significant increase in the number of these claims or an increase in amounts owing under successful claims, including the putative class action referenced above, could materially and adversely affect its business, financial condition, results of operations or cash flows. The Company records a liability when a loss is considered probable, and the amount can be reasonably estimated.

Income Taxes

9 Months Ended

May 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Note 9. Income Taxes

The Company recorded an income tax benefit of $2 thousand and an income tax expense of $30 thousand for the three months ended May 31, 2022 and May 31, 2021, respectively, and income tax expense of $13 thousand and $88 thousand for the nine months ended May 31, 2022 and May 31, 2021, respectively. The Company’s effective tax rates for the three and nine months ended May 31, 2022 substantially differed from the federal statutory tax rate of 21% primarily due to a valuation allowance for the Company’s deferred tax assets.

The Company continually monitors and performs an assessment of the realizability of its deferred tax assets, including an analysis of factors such as future taxable income, reversal of existing taxable temporary differences, and tax planning strategies. In assessing the need for a valuation allowance, the Company considered both positive and negative evidence related to the likelihood of realization of deferred tax assets using a “more likely than not” standard. In making such assessment, more weight was given to evidence that could be objectively verified, including recent cumulative losses. Based on the Company’s review of this evidence, management determined that a full valuation allowance against all of the Company’s net deferred tax assets at May 31, 2022 was appropriate.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Organization and Basis of Presentation (Policies)	9 Months Ended
Organization and Basis of Presentation (Policies)	May 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Effects of COVID-19	Effects of COVID-19 The negative effects of the COVID-19 pandemic on the Company’s business have been significant. In March 2020, the World Health Organization declared the novel strain of coronavirus COVID-19 a global pandemic. This contagious virus continues to spread, including acceleration of the spread of certain variants of COVID-19 in the areas in which the Company operates. This has adversely affected workforces, customers, economies, supply chains and financial markets globally. In response to this outbreak, many state and local authorities mandated the temporary closure of non-essential businesses and dine-in restaurant activity or limited indoor dining capacities during the Company’s previous two fiscal years. COVID-19 and the government measures taken to control it have caused a significant disruption to the Company’s business operation. Since the end of the Company’s fiscal year 2021, it has been able to operate all of its restaurants with no government restrictions on indoor dining capacity. As of the filing date of this Quarterly Report on Form 10-Q, all of the Company’s restaurants continued to operate with no government restrictions on indoor dining capacity. In response to the ongoing COVID-19 pandemic, the Company has prioritized taking steps to protect the health and safety of its employees and customers. The Company has maintained cleaning and sanitizing protocols for its restaurants and has implemented additional training and operational manuals for its restaurant employees, as well as increased handwashing procedures. The Company also provides each restaurant employee with face masks and gloves, and requires each employee to pass a health screening process, which includes a temperature check, before the start of each shift. Under the provisions of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) signed into law on March 27, 2020, and the subsequent extension of the CARES Act, the Company was eligible for refundable employee retention credits subject to certain criteria through the fiscal year ended August 31, 2021. The Company recognized $6.3 million and $8.9 million of employee retention credits during the three and nine months ended May 31, 2021, respectively. For the three months ended May 31, 2021, $5.8 million was included in labor and related costs and $0.5 million was included in general and administrative expenses in the statements of operations, and for the nine months ended May 31, 2021, $8.0 million was included in labor and related costs and $0.9 million was included in general and administrative expenses in the statements of operations. As of August 31, 2021, the Company had recognized and filed for refunds in the amount of $12.1 million of employee retention credits. During the nine months ended May 31, 2022 the Company received $8.0 million in refunds, and through the date of this Quarterly Report on Form 10-Q, the Company has received $12.1 million in refunds. Consistent with the Company’s long-term growth strategy, the Company expects to continue to open new restaurants in locations where it believes such restaurants have the potential to achieve profitability. The future sales levels of the Company’s restaurants and its ability to implement its growth strategy, however, remain highly uncertain, as the full impact and duration of the COVID-19 pandemic continues to evolve as of the filing date of this Quarterly Report on Form 10-Q. It is possible that renewed outbreaks, increases in cases and/or new variants of the virus, either as part of a national trend or on a more localized basis, could result in additional COVID-19 related restrictions, including capacity restrictions, or otherwise limit the Company’s dine-in services, or negatively affect consumer demand.
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed financial statements (the “Condensed Financial Statements”) have been prepared by the Company in accordance with generally accepted accounting principles in the United States (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. As such, these Condensed Financial Statements should be read in conjunction with the Company’s audited financial statements and accompanying notes included in its Annual Report on Form 10-K for the fiscal year ended August 31, 2021. The accounting policies followed by the Company are set forth in Part II, Item 8, Note 2, Basis of Presentation and Summary of Accounting Policies, of the Notes to Financial Statements included in the Company’s Annual Report on Form 10‑K for the fiscal year ended August 31, 2021. In the opinion of management, all adjustments necessary to fairly state the Condensed Financial Statements have been made. All such adjustments are of a normal, recurring nature. The results of operations for interim periods are not necessarily indicative of results to be expected for the fiscal year ending August 31, 2022 or for any other future annual or interim period.
Fiscal Year	Fiscal Year The Company’s fiscal year begins on September 1 and ends on August 31, and references made to “fiscal year 2022” and “fiscal year 2021” refer to the Company’s fiscal years ending August 31, 2022 and ended August 31, 2021, respectively.
Use of Estimates	Use of Estimates The preparation of 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. Significant 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 assumptions 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.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Comprehensive income (loss) is the same as net income (loss) for all periods presented. Therefore, a separate statement of comprehensive income (loss) is not included in the accompanying financial statements.
Recently Issued/Adopted Accounting Pronouncements	Recently Issued Accounting Pronouncements In November 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-10, “Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance,” which provides guidance on disclosures for transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2021, with early adoption permitted. ASU 2021-10 is effective for the Company beginning in fiscal year 2023. The Company is currently in the process of evaluating the effects of this pronouncement on its financial statements. Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes,” which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The Company adopted this update effective September 1, 2021. The adoption of this update did not impact the consolidated financial statements.

Balance Sheet Components (Tables)

9 Months Ended

May 31, 2022

Property Plant And Equipment Net [Abstract]

Schedule of Accounts and Other Receivables

Accounts and Other Receivables


	May 31, 2022		August 31, 2021
	(amounts in thousands)
Lease receivables	$	1,324	$	1,431
Credit card and other receivables		889		588
Total accounts and other receivables	$	2,213	$	2,019

Schedule of Prepaid Expenses and Other Current Assets

Prepaid Expenses and Other Current Assets


	May 31, 2022		August 31, 2021
	(amounts in thousands)
Employee retention credit	$	4,056	$	12,007
Prepaid expenses		1,772		1,732
Other current assets		280		218
Total prepaid expenses and other current assets	$	6,108	$	13,957

Schedule of Property and Equipment - Net

Property and Equipment - net


	May 31, 2022			August 31, 2021
	(amounts in thousands)
Leasehold improvements	$	52,054		$	43,181
Lease assets		6,166			6,128
Furniture and fixtures		18,841			13,324
Computer equipment		1,177			905
Vehicles		126			110
Software		863			773
Construction in progress		7,961			3,907
Property and equipment – gross		87,188			68,328
Less: accumulated depreciation and amortization		(18,511	)		(14,443	)
Total property and equipment – net	$	68,677		$	53,885

Leases (Tables)

9 Months Ended

May 31, 2022

Leases [Abstract]

Summary of Lease Related Costs

Lease related costs recognized in the statements of operations are as follows:


		Three Months Ended May 31,				Nine Months Ended May 31,
		2022		2021		2022		2021
		(amounts in thousands)
Finance lease cost	Classification
Amortization of right-of-use assets	Depreciation and amortization expenses	$	145	$	157	$	424	$	465
Interest on lease liabilities	Interest expense		11		20		35		69
Total finance lease cost		$	156	$	177	$	459	$	534


		Three Months Ended May 31,				Nine Months Ended May 31,
		2022		2021		2022		2021
		(amounts in thousands)
Operating lease cost	Classification
Operating lease cost	Occupancy and related expenses, other costs and general and administrative expenses	$	2,088	$	1,571	$	5,835	$	4,687
Variable lease cost	Occupancy and related expenses, and general and administrative expenses		556		401		1,445		898
Total operating lease cost		$	2,644	$	1,972	$	7,280	$	5,585

Summary of Supplemental Balance Sheet Information

Supplemental balance sheet information related to leases is as follows:

Operating Leases


	May 31, 2022		August 31, 2021
	(amounts in thousands)
Right-of-use assets	$	78,569	$	64,158

Lease liabilities – current	$	7,062	$	5,650
Lease liabilities – non-current		80,679		65,834
Total lease liabilities	$	87,741	$	71,484

Finance Lease Assets – net


	May 31, 2022			August 31, 2021
	(amounts in thousands)
Property and equipment	$	6,166		$	6,128
Accumulated depreciation		(3,203	)		(2,778	)
Total property and equipment – net	$	2,963		$	3,350

Finance Leases Liabilities


	May 31, 2022		August 31, 2021
	(amounts in thousands)
Finance lease – current	$	697	$	932
Finance lease – non-current		49		546
Total finance lease liabilities	$	746	$	1,478



	Nine months ended May 31,
	2022			2021
Weighted Average Remaining Lease Term (Years)
Operating leases		16.3			16.0
Finance leases		1.0			1.7

Weighted Average Discount Rate
Operating leases		6.4	%		6.6	%
Finance leases		4.7	%		4.5	%

Summary of Supplemental Disclosures of Cash Flow Information Related to Leases

Supplemental disclosures of cash flow information related to leases are as follows:


	Nine Months Ended May 31,
	2022		2021
	(amounts in thousands)
Operating cash flows paid for operating lease liabilities	$	4,781	$	3,234
Operating right-of-use assets obtained in exchange for new operating lease liabilities	$	16,622	$	2,952

Summary of Maturities of Lease Liabilities Net of Lease Receivables

Maturities of lease liabilities, net of lease receivables, were as follows:


	Operating Leases			Finance Leases
	(amounts in thousands)
Remainder of 2022	$	902		$	234
2023		6,263			503
2024		7,995			36
2025		8,314			7
2026		8,234			—
Thereafter		110,274			—
Total lease payments		141,982			780
Less: imputed interest		(54,241	)		(34	)
Present value of lease liabilities	$	87,741		$	746

Related Party Transactions (Tables)

9 Months Ended

May 31, 2022

Balances with Kura Japan are as follows:


	May 31, 2022		August 31, 2021
	(amounts in thousands)
Due from affiliate	$	—	$	329
Due to affiliate	$	84	$	244

Reimbursements and other payments by the Company to Kura Japan were as follows:


	Three Months Ended May 31,				Nine Months Ended May 31,
	2022		2021		2022		2021
	(amounts in thousands)
Related party transactions:
Purchases of administrative supplies	$	—	$	4	$	—	$	76
Expatriate salaries expense		33		30		116		92
Royalty payments		190		93		496		185
Travel and other administrative expenses		5		—		24		17
Purchases of equipment		624		29		1,127		430
Interest expense		—		47		—		74
Total related party transactions	$	852	$	203	$	1,763	$	874

Stock-based Compensation (Tables)

9 Months Ended

May 31, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Option Activity under Stock Incentive Plan

The following table summarizes the stock option activity under the Company’s 2018 Incentive Compensation Plan, as amended and restated (the “Stock Incentive Plan”):


	Options Outstanding
	Number of Shares Underlying Outstanding Options			Weighted Average Exercise Price Per Share
Outstanding — August 31, 2021		625,378		$	17.13
Options granted		202,220		$	50.20
Options exercised		(27,598	)	$	6.78
Options canceled/forfeited		(38,410	)	$	38.96
Outstanding — May 31, 2022		761,590		$	25.19

Summary of Stock Based Compensation Recognized under Stock Incentive Plan

The total stock-based compensation recognized under the Stock Incentive Plan in the statements of operations is as follows:


	Three Months Ended May 31,				Nine Months Ended May 31,
	2022		2021		2022		2021
	(amounts in thousands)
Restaurant-level stock-based compensation included in other costs	$	88	$	34	$	195	$	83
Corporate-level stock-based compensation included in general and administrative expenses		644		357		1,576		883
Total stock-based compensation	$	732	$	391	$	1,771	$	966

Income (Loss) Per Share (Tables)

9 Months Ended

May 31, 2022

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Income (Loss) Per Share

The following table sets forth the computation of the Company’s basic and diluted net income (loss) per share:


	Three Months Ended May 31,								Nine Months Ended May 31,
	2022				2021					2022						2021
	Class A		Class B		Class A		Class B			Class A			Class B			Class A			Class B
	(amounts in thousands, except per share data)
Net income (loss) attributable to common stockholders	$	428	$	49	$	678	$	92		$	(2,401	)	$	(276	)	$	(8,332	)	$	(1,129	)

Weighted average common shares outstanding – basic		8,722		1,000		7,383		1,000			8,714			1,000			7,381			1,000
Dilutive effect of stock-based awards		347		—		280		—			—			—			—			—
Weighted average common shares outstanding – diluted		9,069		1,000		7,663		1,000			8,714			1,000			7,381			1,000

Net income (loss) per share attributable to common stockholders – basic	$	0.05	$	0.05	$	0.09	$	0.09		$	(0.28	)	$	(0.28	)	$	(1.13	)	$	(1.13	)
Net income (loss) per share attributable to common stockholders – diluted	$	0.05	$	0.05	$	0.09	$	0.09		$	(0.28	)	$	(0.28	)	$	(1.13	)	$	(1.13	)

Organization and Basis of Presentation - Additional Information (Details) - CARES Act - USD ($) $ in Millions	3 Months Ended	9 Months Ended		12 Months Ended	26 Months Ended
	May 31, 2021	May 31, 2022	May 31, 2021	Aug. 31, 2021	May 31, 2022
Organization and Basis of Presentation [Line Items]
Employee retention credits	$ 6.3		$ 8.9
Employee retention credits refunds		$ 8.0		$ 12.1	$ 12.1
Labor and Related Costs
Organization and Basis of Presentation [Line Items]
Employee retention credits	5.8		8.0
General and Administrative Expenses
Organization and Basis of Presentation [Line Items]
Employee retention credits	$ 0.5		$ 0.9

Balance Sheet Components - Schedule of Accounts and Other Receivables (Details) - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Receivables Net Current [Line Items]
Accounts and other receivables	$ 2,213	$ 2,019
Lease Receivables
Receivables Net Current [Line Items]
Accounts and other receivables	1,324	1,431
Credit Card and Other Receivables
Receivables Net Current [Line Items]
Accounts and other receivables	$ 889	$ 588

Balance Sheet Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Prepaid Expense And Other Assets Current [Abstract]
Employee retention credit	$ 4,056	$ 12,007
Prepaid expenses	1,772	1,732
Other current assets	280	218
Total prepaid expenses and other current assets	$ 6,108	$ 13,957

Balance Sheet Components - Schedule of Property and Equipment - Net (Details) - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Property Plant And Equipment [Line Items]
Property and equipment - gross	$ 87,188	$ 68,328
Less: accumulated depreciation and amortization	(18,511)	(14,443)
Total property and equipment – net	68,677	53,885
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment - gross	52,054	43,181
Lease Assets
Property Plant And Equipment [Line Items]
Property and equipment - gross	6,166	6,128
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property and equipment - gross	18,841	13,324
Computer Equipment
Property Plant And Equipment [Line Items]
Property and equipment - gross	1,177	905
Vehicles
Property Plant And Equipment [Line Items]
Property and equipment - gross	126	110
Software
Property Plant And Equipment [Line Items]
Property and equipment - gross	863	773
Construction in Progress
Property Plant And Equipment [Line Items]
Property and equipment - gross	$ 7,961	$ 3,907

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Property Plant And Equipment Net [Abstract]
Depreciation and amortization expenses	$ 1,500	$ 1,200	$ 4,070	$ 3,314

Leases - Additional Information (Details) - USD ($) $ in Millions		9 Months Ended
	Jul. 07, 2022	May 31, 2022
Lessee Lease Description [Line Items]
Operating and finance leases, remaining lease start range terms description		less than 1 year
Operating lease liabilities not yet commenced, liability		$ 31.2
Operating lease liabilities not yet commenced, lease term		20 years
Option to extend, existence, lease liabilities not yet commenced, operating lease		true
Maximum
Lessee Lease Description [Line Items]
Operating and finance leases, remaining lease terms		20 years
Subsequent Event
Lessee Lease Description [Line Items]
Operating lease liabilities not yet commenced, liability	$ 6.8
Operating lease liabilities not yet commenced, lease term	20 years
Option to extend, existence, lease liabilities not yet commenced, operating lease	true

Leases - Summary of Lease Related Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Finance lease cost
Amortization of right-of-use assets	$ 145	$ 157	$ 424	$ 465
Interest on lease liabilities	11	20	35	69
Total finance lease cost	156	177	459	534
Operating lease cost
Operating lease cost	2,088	1,571	5,835	4,687
Variable lease cost	556	401	1,445	898
Total operating lease cost	$ 2,644	$ 1,972	$ 7,280	$ 5,585

Leases - Summary of Operating Leases (Details) - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Leases [Abstract]
Right-of-use assets	$ 78,569	$ 64,158
Lease liabilities – current	7,062	5,650
Lease liabilities – non-current	80,679	65,834
Total lease liabilities	$ 87,741	$ 71,484

Leases - Summary of Finance Lease Assets - Net (Details) - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Lessee Lease Description [Line Items]
Property and equipment	$ 87,188	$ 68,328
Total property and equipment – net	68,677	53,885
Finance Lease Assets
Lessee Lease Description [Line Items]
Property and equipment	6,166	6,128
Accumulated depreciation	(3,203)	(2,778)
Total property and equipment – net	$ 2,963	$ 3,350

Leases - Summary of Finance Leases Liabilities (Details) - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Leases [Abstract]
Finance lease – current	$ 697	$ 932
Finance lease – non-current	49	546
Total finance lease liabilities	$ 746	$ 1,478

Leases - Summary of Weighted Average Remaining Lease Term and Weighted Average Discount Rate (Details)	May 31, 2022	May 31, 2021
Weighted Average Remaining Lease Term (Years)
Operating leases	16 years 3 months 18 days	16 years
Finance leases	1 year	1 year 8 months 12 days
Weighted Average Discount Rate
Operating leases	6.40%	6.60%
Finance leases	4.70%	4.50%

Leases - Summary of Supplemental Disclosures of Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	May 31, 2022	May 31, 2021
Leases [Abstract]
Operating cash flows paid for operating lease liabilities	$ 4,781	$ 3,234
Operating right-of-use assets obtained in exchange for new operating lease liabilities	$ 16,622	$ 2,952

Leases - Summary of Maturities of Lease Liabilities Net of Lease Receivables (Details) - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Operating Leases
Remainder of 2022	$ 902
2023	6,263
2024	7,995
2025	8,314
2026	8,234
Thereafter	110,274
Total lease payments	141,982
Less: imputed interest	(54,241)
Present value of lease liabilities	87,741	$ 71,484
Finance Leases
Remainder of 2022	234
2023	503
2024	36
2025	7
Total lease payments	780
Less: imputed interest	(34)
Present value of lease liabilities	$ 746	$ 1,478

Related Party Transactions - Additional Information (Details) - Kura Japan - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Aug. 31, 2019	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Travel and Translation Expense
Related Party Transaction [Line Items]
Reimbursements by related party		$ 0	$ 2	$ 28	$ 27
Revolving Credit Facility Agreement \| COVID-19
Related Party Transaction [Line Items]
Credit facility maximum borrowing capacity		$ 45,000		$ 45,000
Amended and Restated Exclusive License Agreement
Related Party Transaction [Line Items]
Royalty fee of net sales	0.50%

Related Party Transactions - Schedule of Related Party Transactions Due to and from Affiliates (Details) - USD ($) $ in Thousands	May 31, 2022	Aug. 31, 2021
Related Party Transaction [Line Items]
Due from affiliate		$ 329
Due to affiliate	$ 84	244
Kura Japan
Related Party Transaction [Line Items]
Due from affiliate		329
Due to affiliate	$ 84	$ 244

Related Party Transactions - Schedule of Related Party Reimbursements and Other Payments (Details) - Kura Japan - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Related Party Transaction [Line Items]
Total related party transactions	$ 852	$ 203	$ 1,763	$ 874
Purchases of Administrative Supplies
Related Party Transaction [Line Items]
Total related party transactions		4		76
Expatriate Salaries Expense
Related Party Transaction [Line Items]
Total related party transactions	33	30	116	92
Royalty Payments
Related Party Transaction [Line Items]
Total related party transactions	190	93	496	185
Travel and Other Administrative Expenses
Related Party Transaction [Line Items]
Total related party transactions	5		24	17
Purchases of Equipment
Related Party Transaction [Line Items]
Total related party transactions	$ 624	29	$ 1,127	430
Interest Expense
Related Party Transaction [Line Items]
Total related party transactions		$ 47		$ 74

Stock-based Compensation - Summary of Stock Option Activity under Stock Incentive Plan (Details) - Stock Incentive Plan	9 Months Ended
	May 31, 2022 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options Outstanding, Number of shares underlying outstanding options, Beginning balance \| shares	625,378
Options Outstanding, Number of shares underlying outstanding options, Options granted \| shares	202,220
Options Outstanding, Number of shares underlying outstanding options, Options exercised \| shares	(27,598)
Options Outstanding, Number of shares underlying outstanding options, Options canceled/forfeited \| shares	(38,410)
Options Outstanding, Number of shares underlying outstanding options, Ending balance \| shares	761,590
Options Outstanding, Weighted Average Exercise Price Per Share, Beginning balance \| $ / shares	$ 17.13
Options Outstanding, Weighted Average Exercise Price Per Share, Options granted \| $ / shares	50.20
Options Outstanding, Weighted Average Exercise Price Per Share, Options exercised \| $ / shares	6.78
Options Outstanding, Weighted Average Exercise Price Per Share, Options canceled/forfeited \| $ / shares	38.96
Options Outstanding, Weighted Average Exercise Price Per Share, Ending balance \| $ / shares	$ 25.19

Stock-based Compensation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation	$ 732	$ 391	$ 1,771	$ 966
Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares issued			9
Stock-based compensation	$ 17		$ 90

Stock-based Compensation - Summary of Stock Based Compensation Recognized under Stock Incentive Plan (Details) - Stock Incentive Plan - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 732	$ 391	$ 1,771	$ 966
Restaurant-level Stock-based Compensation Included In Other Costs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	88	34	195	83
Corporate-level Stock-based Compensation Included In General and Administrative Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 644	$ 357	$ 1,576	$ 883

Debt - Additional Information (Details) - Revolving Credit Facility Agreement - USD ($)	3 Months Ended	9 Months Ended
	May 31, 2021	May 31, 2022	May 31, 2021	Apr. 10, 2020
Debt Instrument [Line Items]
Outstanding balance		$ 0
Remaining availability under credit agreement		$ 45,000,000.0
Borrowings under revolving credit line	$ 0		$ 17,000,000.0
Fixed Interest Rate of 1.1%
Debt Instrument [Line Items]
Outstanding borrowings	14,000,000.0		$ 14,000,000.0
Revolving credit line interest rate			1.10%
Fixed Interest Rate of 2.8%
Debt Instrument [Line Items]
Outstanding borrowings	$ 3,000,000.0		$ 3,000,000.0
Revolving credit line interest rate			2.80%
Kura Japan
Debt Instrument [Line Items]
Outstanding borrowings				$ 45,000,000

Income (Loss) Per Share - Computation of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Earnings Per Share Diluted [Line Items]
Weighted average common shares outstanding – basic	9,722	8,383	9,714	8,381
Diluted	10,069	8,663	9,714	8,381
Basic	$ 0.05	$ 0.09	$ (0.28)	$ (1.13)
Diluted	$ 0.05	$ 0.09	$ (0.28)	$ (1.13)
Class A
Earnings Per Share Diluted [Line Items]
Net income (loss) attributable to common stockholders	$ 428	$ 678	$ 2,401	$ (8,332)
Weighted average common shares outstanding – basic	8,722	7,383	8,714	7,381
Dilutive effect of stock-based awards	347	280
Diluted	9,069	7,663	8,714	7,381
Basic	$ 0.05	$ 0.09	$ 0.28	$ (1.13)
Diluted	$ 0.05	$ 0.09	$ 0.28	$ (1.13)
Class B
Earnings Per Share Diluted [Line Items]
Net income (loss) attributable to common stockholders	$ 49	$ 92	$ 276	$ (1,129)
Weighted average common shares outstanding – basic	1,000	1,000	1,000	1,000
Diluted	1,000	1,000	1,000	1,000
Basic	$ 0.05	$ 0.09	$ 0.28	$ (1.13)
Diluted	$ 0.05	$ 0.09	$ 0.28	$ (1.13)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

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+ Details

Income (Loss) Per Share - Additional Information (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Employee Stock Option
Earnings Per Share [Line Items]
Shares of common stock subject to outstanding employee stock options that were excluded from the calculation of diluted income (loss) per share	250	87	762	586

Commitments and Contingencies - Additional Information (Details) $ in Thousands	9 Months Ended
	May 31, 2022 USD ($)
Loss Contingencies [Line Items]
Settlement amount	$ 1,750
General and Administrative Expenses
Loss Contingencies [Line Items]
Accrued liability	1,780
Payroll taxes	$ 30

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ (2)	$ 30	$ 13	$ 88
Federal statutory tax rate	21.00%		21.00%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details