Sweetgreen Q3 revenue up 29% to $124M but net loss widens to $47.4M; guides revenue below prior outlook

Sweetgreen, Inc.

2022-Q3 EPS reported -$1.24 revenue$351,535,000

Total revenue $124.0M (+29% YoY); same-store sales grew 6% vs 43% prior year.
Net loss $(47.4)M vs $(30.1)M prior year; Adjusted EBITDA improved to $(6.8)M from $(14.1)M.
Restaurant-Level Profit margin 16% (up 200bps); loss from operations margin (40)% vs (34)%.
Recorded $11.1M restructuring charge including $9.8M non-cash lease abandonment; cut ~5% of support center staff.
FY2022 guidance: revenue at or slightly below low end of prior range; reaffirms at least 35 net new restaurant openings.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Sweetgreen, Inc. reported third fiscal quarter ended September 25, 2022 results: revenue $124.0 million, net income $(47.4) million.

Period: third fiscal quarter ended September 25, 2022
Revenue: $124.0 million
Net income: $(47.4) million
Result: reported results

Exact text from the filing

invest for the long-term.” Third Quarter 2022 Financial Results For the third quarter of fiscal year 2022, compared to the third quarter of fiscal year 2021: • Total revenue was $124.0 million versus $95.8 million in the prior year period, an increase of 29%. • Same-Store Sales Change of 6% versus Same-Store Sales Change of 43% in the prior year period. • AUV of $2.9

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Source: SEC EDGAR

accession 0001628280-22-028916

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