Sweetgreen Q3 revenue $173.4M (+13% YoY), raises FY2024 guidance

Sweetgreen, Inc.

2024-Q3 EPS reported -$0.54 revenue$515,922,000

Same-store sales grew 6% YoY, driven by 4% menu price increase and 2% traffic/mix.
Restaurant-level profit margin hit 20.2%, up ~100 bps YoY; 7th consecutive quarter of expansion.
Adjusted EBITDA improved to $6.8M from $2.5M a year ago; year-to-date Adjusted EBITDA $19.3M.
Net loss narrowed to $20.8M from $25.1M; loss from operations margin improved to (12)% from (17)%.
FY2024 guidance raised: revenue $675-680M, same-store sales 6-7%, Adjusted EBITDA $18-20M.

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