All month long, fans can rack up special rewards on Sweetgreen’s free loyalty program, Sweetpass, and upgrade to Sweetpass+ to earn even more rewards. (Graphic: Business Wire)Sweetgreen recently expanded its menu with protein plates - a new collection of options to satisfy even the non-salad eaters, adding heartier proteins and double servings of grains. (Graphic: Business Wire)LOS ANGELES--(BUSINESS WIRE)--Today, Sweetgreen (NYSE: SG), the mission-driven restaurant brand serving healthy food at scale, anno ...

Financial Data and Key Metrics Changes - The company reported total revenue of $153.4 million for Q3 2023, a 24% increase year-over-year from $124 million in Q3 2022 [32][42] - Same-store sales grew by 4%, consisting of a 5% price increase, flat traffic, and a negative 1% mix [42] - Restaurant-level margin improved to 19%, a 300 basis point increase from the previous year, with restaurant-level profit reaching $29 million, up over $9 million year-over-year [24][33] - The net loss for the quarter was $25 million, an improvement from a loss of $51 million in the prior year, primarily due to a decrease in restructuring charges and an increase in restaurant-level profit [26][62] Business Line Data and Key Metrics Changes - The company opened 15 new restaurants in Q3, bringing the total to 220, with plans for one more in Q4, aiming for 35 net new openings for the year [14][43] - Digital sales accounted for 58% of Q3 revenue, with approximately two-thirds from owned digital channels [23] - Food, beverage, and packaging costs were 27% of revenue, a 100 basis point improvement from the previous year, while labor-related costs decreased to 29% of revenue, down 200 basis points [44] Market Data and Key Metrics Changes - The company noted strong customer reception for new menu items, particularly in Texas and the Southeast, indicating regional performance variations [18][88] - The launch of protein plates aims to capture a broader consumer segment, especially for dinner, which currently represents about 35% of sales [18][88] Company Strategy and Development Direction - The company is focused on expanding its footprint with plans to open 23 to 28 new stores in 2024, including deploying 7 to 9 Infinite Kitchens [35][36] - The Infinite Kitchen technology is expected to enhance throughput and improve margins, with a focus on high-volume urban stores for retrofitting [15][54] - The company aims to continue menu innovation and enhance the Sweetpass loyalty program to drive customer engagement and sales growth [38][39] Management's Comments on Operating Environment and Future Outlook - Management acknowledged consumer uncertainty heading into Q4, which is typically the softest quarter of the year due to holiday weeks [6][27] - The company expressed confidence in achieving positive adjusted EBITDA on a full-year basis in 2024, which would be a significant milestone [63] - Management highlighted the importance of stabilizing the workforce and improving team member experience, which has led to a decrease in turnover [58][73] Other Important Information - The Infinite Kitchen was recognized as one of 2023's best inventions in the food and drink category, showcasing the company's commitment to innovation [16] - The company has seen a decrease in general and administrative expenses, primarily due to a reduction in stock-based compensation [25][61] Q&A Session Summary Question: Can you discuss the development guidance for next year and the potential for Infinite Kitchens? - Management indicated that they are pleased with the results from the first Infinite Kitchen and are targeting higher volumes for future deployments, with a focus on learning from initial openings [66][69] Question: What are the main restrictions or opportunities for retrofitting existing units with Infinite Kitchens? - Management noted that many restaurants can eventually be retrofitted, emphasizing the modular nature of the technology and the need for further learnings [71] Question: How is the company addressing labor costs and turnover? - Management highlighted improvements in labor deployment and stability, which have contributed to margin leverage and reduced turnover [73] Question: What impact has Sweetpass had on customer engagement and sales? - Management stated that Sweetpass is still in the enrollment phase, but they expect it to be a significant driver of future sales growth [77][95] Question: Can you elaborate on the increase in discounting this quarter? - Management clarified that the slight increase in discounting was primarily due to the launch of Sweetpass Plus, rather than a broader strategy shift [92]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 24, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from______to______ Commission file number 001-41069 SWEETGREEN, INC. (Exact name of registrant as specified in its charter) (State or other j ...

Sweetgreen, Inc. (NYSE:SG) Q2 2023 Earnings Conference Call July 27, 2023 5:00 PM ET Company Participants Rebecca Nounou - Head, IR Jonathan Neman - Co-Founder & CEO Mitch Reback - CFO Conference Call Participants Sharon Zackfia - William Blair Katherine Griffin - Bank of America John Ivankoe - JPMorgan Chris Carril - RBC Capital Markets Karen Holthouse - Citi Andrew Charles - TD Cowen Brian Mullan - Piper Sandler Operator Good day, everyone, and welcome to the Sweetgreen Second Quarter 2023 Earnings Call. ...

FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 25, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from______to______ Commission file number 001-41069 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SWEETGREEN, INC. (Exact name of registrant as specified in its charter) (State or other jurisd ...

Sweetgreen, Inc. (NYSE:SG) Q1 2023 Earnings Conference Call May 4, 2023 5:00 PM ET Company Participants Rebecca Nounou - Head of Investor Relations Jonathan Neman - Co-Founder and Chief Executive Officer Mitch Reback - Chief Financial Officer Conference Call Participants John Ivankoe - JPMorgan Chris Carril - RBC Capital Markets Sharon Zackfia - William Blair Andrew Charles - TD Cowen Katherine Griffin - Bank of America Operator Good afternoon. My name is Emma and I'll be your conference operator today. At ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 26, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from______to______ Commission file number 001-41069 SWEETGREEN, INC. (Exact name of registrant as specified in its charter) (State or other juris ...

Sweetgreen, Inc. (NYSE:SG) Q4 2022 Earnings Conference Call February 23, 2023 5:00 PM ET Company Participants Rebecca Nounou – Head of Investor Relations Jonathan Neman – Co-Founder and Chief Executive Officer Mitch Reback – Chief Financial Officer Conference Call Participants Brian Bittner – Oppenheimer Chris Carril – RBC Capital Markets Matt Curtis – William Blair Karen Holthouse – Citi Katherine Griffin – Bank of America Andrew Charles – Cowen Brian Harbour – Morgan Stanley John Ivankoe – JPMorgan Jon To ...

Financial Performance - The company reported a Restaurant-Level Profit of $235.3 million and Operating Lease Assets of $256.7 million as of December 25, 2022[486]. - Total revenue for the fiscal year ended December 25, 2022, was $470.1 million, representing a 38.3% increase from $339.9 million in the previous year[491]. - Net loss for the fiscal year was $190.4 million, compared to a net loss of $153.2 million in the previous year, reflecting a 24.3% increase in losses[491]. - The company reported a basic and diluted net loss per share of $1.73, compared to $5.51 in the previous year[491]. - The accumulated deficit grew to $671.6 million from $476.2 million, indicating ongoing financial challenges[490]. - The company reported a net loss of $190,441 thousand for the year ending December 26, 2021, compared to a net loss of $153,175 thousand for the previous year, indicating a worsening financial performance[494]. - For the fiscal year ended December 25, 2022, Sweetgreen reported a net loss of $190,441,000, compared to a net loss of $153,175,000 in the previous year, reflecting an increase in losses of approximately 24.3%[495]. Cash and Liquidity - The company had cash and cash equivalents of $331.6 million as of December 25, 2022, down from $472.0 million in the previous year[474]. - Total current assets decreased to $346.1 million from $506.7 million, primarily due to a reduction in cash and cash equivalents from $472.0 million to $331.6 million[490]. - Cash used in operating activities decreased to $43,169,000 in fiscal year 2022 from $64,529,000 in fiscal year 2021, indicating improved cash flow management[495]. - Total cash and cash equivalents at the end of fiscal year 2022 were $331,739,000, down from $472,299,000 at the end of fiscal year 2021, representing a decrease of approximately 29.7%[496]. Operating Costs and Expenses - Restaurant operating costs totaled $400.8 million, up 33.8% from $299.5 million in the prior year, with food, beverage, and packaging costs increasing by 38.9% to $130.1 million[491]. - General and administrative expenses rose to $187.4 million, a 49.9% increase from $125.0 million in the previous year[491]. - The company has implemented cost-cutting measures to mitigate the impact of inflation and rising wage rates on its Restaurant Level Profit[476]. - The company anticipates significant increases in operating expenses as it grows its business and opens new restaurants[34]. Growth and Expansion - The company opened 36 net new restaurants in fiscal year 2022, bringing the total to 186 restaurants across 16 states and Washington, D.C.[498]. - The company’s future growth is significantly dependent on its ability to open new restaurants and secure appropriate sites for expansion[34]. - The company is focusing on expanding its market presence and enhancing operational efficiencies to improve future performance[491]. Market and Economic Conditions - The company experienced supply chain disruptions for key ingredients, such as romaine, arugula, and tomatoes, leading to higher prices in Q4 of fiscal year 2022[473]. - The company’s revenue growth slowed in the latter half of fiscal year 2022, primarily due to macroeconomic conditions and the ongoing effects of the COVID-19 pandemic[476]. - The company is exposed to commodity price risks, which could adversely affect results if menu prices do not increase at the same rate as ingredient costs[472]. Stock and Equity - The total common stock outstanding increased to 111,132,993 shares by December 25, 2022, up from 109,345,697 shares at the end of 2021, indicating growth in equity financing[494]. - The company raised $384,692 thousand through the issuance of common stock in connection with its initial public offering, net of underwriting discounts and issuance costs[493]. - The Company issued and sold 14,950,000 shares of common stock at a price of $28.00 per share during the IPO, resulting in net proceeds of $384.7 million[617]. - The Company issued 6,669,146 shares of preferred stock, raising $108,858 thousand, net of issuance costs, to support its capital structure[493]. Impairment and Restructuring - The Company recorded non-cash impairment charges of $15.0 million for the fiscal year ended December 25, 2022, with $8.8 million related to property and equipment and $6.2 million related to operating lease assets[545]. - The Company evaluated its long-lived assets for impairment due to changing customer behavior trends and macroeconomic conditions, resulting in the need for impairment reviews[544]. - The Company incurred total pre-tax restructuring and related charges of approximately $14.4 million for fiscal year 2022, including a non-cash restructuring expense of $13.0 million[516]. Tax and Regulatory Matters - The Company has a full valuation allowance of $163.8 million against deferred tax assets as of December 25, 2022, reflecting an increase of $36.9 million year over year[657]. - The Company is subject to limitations under Section 382 of the Internal Revenue Code regarding the utilization of net operating loss carryforwards due to ownership changes[659]. - The Inflation Reduction Act of 2022 introduced a Corporate Alternative Minimum Tax (CAMT) that will affect tax years beginning after December 31, 2022, but is not expected to have a material impact on the Company for fiscal year 2022[663].

Sweetgreen, Inc. (NYSE:SG) Q3 2022 Results Conference Call November 8, 2022 5:00 PM ET Company Participants Rebecca Nounou - Head of Investor Relations Jonathan Neman - Co-Founder and Chief Executive Officer Mitch Reback - Chief Financial Officer Conference Call Participants John Ivankoe - JPMorgan Andrew Charles - Cowen Jared Garber - Goldman Sachs Matt Curtis - William Blair John Glass - Morgan Stanley Brian Bittner - Oppenheimer Jon Tower - Citi Katherine Griffin - Bank of America Chris Carril - RBC Capi ...