Sweetgreen Q1 revenue up 67% to $102.6M; same-store sales +35%; reaffirms FY22 outlook

Sweetgreen, Inc.

2022-Q1 EPS reported -$0.45 revenue$102,591,000

Revenue $102.6M (+67% YoY); same-store sales +35% (transactions +25%, pricing +10%).
Restaurant-level profit margin 13% (up 950 bps from 3%); AUV $2.8M vs $2.1M.
Net loss -$49.2M (vs -$30.0M) due to $21M stock-based comp; Adj EBITDA -$16.5M (improved from -$21.0M).
FY22 outlook reaffirmed: revenue $515-535M, same-store sales +20-26%, adj EBITDA -$40M to -$33M.
Digital revenue 66% of total (down from 77%); 8 net new restaurant openings.

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