Sweetgreen Q1 revenue $125.1M (+22% YoY), net loss narrows to $33.7M; CMO departs

For the first quarter of fiscal year 2023, compared to the first quarter of fiscal year 2022: • Total revenue was $125.1 million versus $102.6 million in the prior year period, an increase of 22%. • Same-Store Sales Change of 5% versus Same-Store Sales Change of 35% in the prior year period. • AUV of $2.9 million versus AUV of $2.8 million in the prior year period. • Total Digital Revenue Percentage of 61% and Owned Digital Revenue Percentage of 39%, versus Total Digital Revenue Percentage of 66% and Owned Digital Revenue Percentage of 43% in the prior year period. • Loss from operations was $(35.3) million and loss from operations margin was (28)% versus loss from operations of $(50.0) million and loss from operations margin of (49)% in the prior year period; this includes $6.9 million from employee retention credits issued as part of the Coronavirus Aid, Relief and Economic Security Act, of which $5.1 million is included within general and administrative expense and $1.8 million incl

On May 1, 2023, Daniel Shlossman, Chief Marketing Officer of the Company, resigned from his position as Chief Marketing Officer, effective as of May 19, 2023.