$SG

Sweetgreen, Inc.

CIK:0001477815|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
Revenue	$ 192,662	$ 185,583	$ 354,183	$ 351,887
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):
Total restaurant operating costs	167,485	150,458	312,805	287,075
Operating expenses:
General and administrative	29,713	34,505	58,980	72,842
Depreciation and amortization	18,757	17,996	37,386	35,102
Pre-opening costs	1,107	2,534	2,218	4,230
Impairment and closure costs	2,155	5,336	2,791	5,430
Loss on disposal of property and equipment	339	31	738	117
Restructuring charges	516	1,146	1,021	2,051
Total operating expenses	52,587	61,548	103,134	119,772
Loss from operations	(27,410)	(26,423)	(61,756)	(54,960)
Interest income	(1,216)	(1,725)	(2,622)	(3,628)
Interest expense	62	5	90	5
Gain on disposal of business	0	0	(160,562)	0
Other expense (income)	2	(1,635)	9	(3,320)
Net income (loss) before income taxes	(26,258)	(23,068)	101,329	(48,017)
Income tax expense	12	90	1,790	180
Net income (loss)	$ (26,270)	$ (23,158)	$ 99,539	$ (48,197)
Earnings (loss) per share:
Net loss per share basic (in dollars per share)	$ (0.22)	$ (0.20)	$ 0.84	$ (0.41)
Net loss per share diluted (in dollars per share)	$ (0.22)	$ (0.20)	$ 0.82	$ (0.41)
Weighted average shares used in computing net loss per share basic (in shares)	118,898,524	117,827,054	118,803,299	117,566,164
Weighted average shares used in computing net loss per share diluted (in shares)	118,898,524	117,827,054	120,774,680	117,566,164
Food, beverage, and packaging
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):
Total restaurant operating costs	$ 57,407	$ 51,444	$ 104,260	$ 95,436
Labor and related expenses
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):
Total restaurant operating costs	56,313	51,044	107,074	99,115
Occupancy and related expenses
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):
Total restaurant operating costs	18,117	16,438	35,884	32,112
Other restaurant operating costs
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):
Total restaurant operating costs	$ 35,648	$ 31,532	$ 65,587	$ 60,412

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025
Cash flows from operating activities:
Net income (loss)	$ 99,539	$ (48,197)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	37,386	35,102
Amortization of lease acquisition	47	46
Amortization of cloud computing arrangements	565	495
Non-cash operating lease cost	18,711	17,064
Loss on disposal of property and equipment	738	117
Stock-based compensation	10,982	18,221
Non-cash impairment and closure costs	1,693	5,325
Non-cash restructuring charges	455	443
Deferred income tax expense	360	180
Change in fair value of contingent consideration liability	0	(3,338)
Gain on disposal of business	(161,161)	0
Changes in operating assets and liabilities:
Accounts receivable	(544)	(1,635)
Inventory	(489)	(425)
Prepaid expenses and other current assets	(5,023)	(249)
Operating lease liabilities	(19,914)	(22,378)
Accounts payable	(4,308)	(188)
Accrued payroll and benefits	3,231	(5,074)
Accrued expenses and other current liabilities	5,261	2,265
Gift card and loyalty liability	408	1,859
Contingent consideration liability	(5,396)	(2,290)
Other non-current liabilities	(146)	(8)
Net cash used in operating activities	(17,605)	(2,665)
Cash flows from investing activities:
Purchase of property and equipment	(22,522)	(40,333)
Purchase of intangible assets	(3,832)	(4,300)
Security and landlord deposits	34	100
Proceeds from disposal of business	100,000	0
Net cash provided by (used in) investing activities	73,680	(44,533)
Cash flows from financing activities:
Proceeds from stock option exercise	59	2,679
Payment associated to shares repurchased for tax withholding	(688)	(259)
Net cash (used in) provided by financing activities	(629)	2,420
Net change in cash and cash equivalents and restricted cash	55,446	(44,778)
Cash and cash equivalents and restricted cash—beginning of year	93,343	217,429
Cash and cash equivalents and restricted cash—end of period	148,789	172,651
Cash paid for interest	90	5
Supplemental disclosure of cash flow information
Purchase of property and equipment accrued in accounts payable and accrued expenses	8,649	11,049
Series C Preferred Stock of Wonder Group, Inc. as partial consideration for the Spyce sale	$ 86,429	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 28, 2026	Dec. 28, 2025
Current assets:
Cash and cash equivalents	$ 142,631	$ 89,177
Accounts receivable	5,710	5,166
Inventory	2,873	2,384
Prepaid expenses	11,357	6,381
Current portion of lease acquisition costs	90	93
Assets held for sale	0	25,427
Other current assets	1,278	1,029
Total current assets	163,939	129,657
Operating lease assets	286,094	284,263
Property and equipment, net	311,218	326,903
Goodwill	27,793	27,793
Intangible assets, net	9,922	10,424
Security deposits	1,282	1,316
Lease acquisition costs, net	197	241
Restricted cash	6,158	4,166
Equity investments	86,429	0
Other assets	2,627	3,341
Total assets	895,659	788,104
Current liabilities:
Current portion of operating lease liabilities	42,324	41,590
Accounts payable	14,103	19,885
Accrued expenses	38,920	33,739
Accrued payroll	11,374	8,143
Gift cards and loyalty liability	7,585	7,177
Liabilities held for sale	0	1,085
Other current liabilities	29	7,033
Total current liabilities	114,335	118,652
Operating lease liabilities, net of current portion	313,071	312,904
Other non-current liabilities	0	149
Deferred income tax liabilities	632	274
Total liabilities	428,038	431,979
COMMITMENTS AND CONTINGENCIES (Note 15)
Stockholders’ equity:
Common stock, $0.001 par value per share, 2,000,000,000 Class A shares authorized, 107,140,211 and 106,554,859 Class A shares issued and outstanding as of June 28, 2026 and December 28, 2025, respectively; 300,000,000 Class B shares authorized, 11,893,558 and 11,893,558 Class B shares issued and outstanding as of June 28, 2026 and December 28, 2025, respectively	119	118
Additional paid-in capital	1,377,386	1,365,430
Accumulated deficit	(909,884)	(1,009,423)
Total stockholders’ equity	467,621	356,125
Total liabilities and stockholders’ equity	$ 895,659	$ 788,104