Sweetgreen Q4 rev +29% YoY; guides to first positive adj. EBITDA in FY2024

Sweetgreen, Inc.

2023-FY EPS reported -$1.01 revenue$584,041,000

Q4 revenue $153.0M (+29% YoY); same-store sales +6%; net loss narrowed to $(27.4M) from $(49.3M).
Restaurant-level profit margin expanded 500 bps to 16%; adj. EBITDA loss $(1.8M) vs $(17.9M).
FY23 revenue $584.0M (+24%); net loss $(113.4M) improved from $(190.4M); adj. EBITDA $(2.8M) vs $(49.9M).
FY24 guidance: rev $655-670M, same-store sales +3-5%, restaurant-level margin 18-19.5%, adj. EBITDA $8-15M.
First-quarter FY24 outlook: rev $150-154M, adj. EBITDA between $(4)M and $(2)M.

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 1.0

Sweetgreen, Inc. reported for its fourth fiscal quarter ended December 31, 2023 results: revenue $153.0 million, net income $(27.4) million. Guidance initiated.

Period: for its fourth fiscal quarter ended December 31, 2023
Revenue: $153.0 million
Net income: $(27.4) million
Guidance: initiated
Result: reported results

Exact text from the filing

December 31, 2023. Fourth Quarter 2023 Financial Highlights For the fourth quarter of fiscal year 2023, compared to the fourth quarter of fiscal year 2022: • Total revenue was $153.0 million versus $118.6 million in the prior year period, an increase of 29%. • Same-Store Sales Change of 6% versus Same-Store Sales Change of 4% in the prior year period. • AUV of $2.9

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Sweetgreen, Inc. reported for its fiscal year ended December 31, 2023 results: revenue $584.0 million, net income $(113.4) million. Guidance initiated.

Period: for its fiscal year ended December 31, 2023
Revenue: $584.0 million
Net income: $(113.4) million
Guidance: initiated
Result: reported results

Exact text from the filing

versus 10 Net New Restaurant Openings in the prior year period. Full Year Fiscal 2023 Financial Highlights For fiscal year 2023 compared to fiscal year 2022: • Total revenue was $584.0 million versus $470.1 million in the prior fiscal year, an increase of 24%. • Same-Store Sales Change of 4% versus Same-Store Sales Change of 13% in the prior fiscal year. • AUV of $2.9

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Source: SEC EDGAR

accession 0001628280-24-007967

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