Earnings summaries and quarterly performance for Sweetgreen.
Executive leadership at Sweetgreen.
Board of directors at Sweetgreen.
Research analysts who have asked questions during Sweetgreen earnings calls.
Brian Harbour
Morgan Stanley
6 questions for SG
Also covers: BLMN, BRCB, BROS +22 more
Brian Mullan
Piper Sandler
6 questions for SG
Also covers: BJRI, BLMN, BROS +20 more
JT
Jon Tower
Citigroup
6 questions for SG
Also covers: BJRI, BLMN, BROS +19 more
RK
Rahul Krotthapalli
JPMorgan Chase & Co.
6 questions for SG
Also covers: BROS, CAKE, CAVA +8 more
SZ
Sharon Zackfia
William Blair & Company
6 questions for SG
Also covers: BIRK, BJRI, BRCB +17 more
AC
Andrew Charles
TD Cowen
5 questions for SG
Also covers: BROS, CAVA, CMG +14 more
BB
Brian Bittner
Oppenheimer & Co.
5 questions for SG
Also covers: BJRI, CAKE, CMG +11 more
LR
Logan Reich
RBC Capital Markets
5 questions for SG
Also covers: BROS, CAVA, DPZ +5 more
DG
Dennis Geiger
UBS
4 questions for SG
Also covers: BLMN, BROS, CAKE +18 more
SS
Sara Senatore
Bank of America
4 questions for SG
Also covers: BLMN, BROS, CAKE +21 more
Chris Carril
KeyBanc Capital Markets
3 questions for SG
JB
Jeffrey Bernstein
Barclays
3 questions for SG
Also covers: BJRI, BLMN, BROS +23 more
CC
Christine Cho
Goldman Sachs Group
2 questions for SG
Also covers: BEP, BEPC, BLMN +24 more
HJ
Hyun Jin Cho
Goldman Sachs
2 questions for SG
Also covers: CMG, DRI, EAT +6 more
Katherine Griffin
Bank of America
2 questions for SG
Also covers: CAKE, CBRL, DRI +4 more
ZO
Zach Ogden
TD Cowen
1 question for SG
Also covers: CMG, DRI, FWRG +2 more
Recent press releases and 8-K filings for SG.
Sweetgreen Reports Q4 and Full Year 2025 Results, Provides 2026 Guidance
SG
Earnings
Guidance Update
Product Launch
- Sweetgreen reported FY 2025 revenue of $679.5 million and a comparable sales decline of 7.9%, with Q4 2025 sales of $155.2 million and a comparable sales decline of 11.5%. The net loss for Q4 2025 was $49.7 million and Adjusted EBITDA was a loss of $13.3 million.
- For fiscal year 2026, the company expects same-store sales to decline between 4% and 2%, restaurant-level margin to be 14.2%-14.7%, and Adjusted EBITDA between $1 million and $6 million.
- The company is executing its Sweet Growth Transformation Plan, with a key initiative being the mid-year launch of wraps, which are currently in market testing and expected to be a significant growth driver.
- Sweetgreen ended 2025 with 30 Infinite Kitchen locations, which have demonstrated higher AAVs and labor savings of over 700 basis points.
Feb 26, 2026, 10:00 PM
Sweetgreen Reports Q4 2025 Results and Provides FY 2026 Guidance
SG
Earnings
Guidance Update
Product Launch
- Sweetgreen reported Q4 2025 sales of $155.2 million, a 11.5% decrease in comparable sales, a restaurant-level margin of 10.4%, and a net loss of $49.7 million.
- For fiscal year 2026, the company forecasts a same-store sales decline of -4% to -2%, restaurant-level margin between 14.2% and 14.7%, and adjusted EBITDA ranging from $1 million to $6 million.
- The company plans to open about 15 net new restaurants in 2026, with nearly half being Infinite Kitchens, which have demonstrated labor savings of over 700 basis points compared to classic stores.
- Sweetgreen is testing a new wraps platform, priced below $15, with plans for a broader expansion in mid-2026 if stage-gate criteria are met.
Feb 26, 2026, 10:00 PM
Sweetgreen Reports Q4 and Full-Year 2025 Results, Provides 2026 Guidance
SG
Earnings
Guidance Update
Demand Weakening
- Sweetgreen reported full-year 2025 revenue of $679.5 million and a comparable sales decline of 7.9%. For Q4 2025, revenue was $155.2 million, with comparable sales down 11.5%, primarily driven by a 13.3% decrease in traffic and mix.
- The company ended fiscal year 2025 with 281 locations, having opened 35 net new restaurants during the year, including 15 net new restaurants in Q4 2025. Sweetgreen also completed the sale of Spyce at the beginning of fiscal year 2026, receiving $100 million in cash proceeds.
- For fiscal year 2026, Sweetgreen expects same-store sales to decline in the range of -4% to -2%, restaurant-level margin to be between 14.2% and 14.7%, and Adjusted EBITDA to range from $1 million to $6 million.
- Sweetgreen is executing its Sweet Growth Transformation Plan, focusing on operational excellence, food quality, menu innovation (including the launch of wraps in 2026), personalized experience, and disciplined investments, such as expanding Infinite Kitchen technology.
Feb 26, 2026, 10:00 PM
Sweetgreen, Inc. Announces Q4 and Full Year 2025 Financial Results and 2026 Outlook
SG
Earnings
Guidance Update
M&A
- Sweetgreen, Inc. reported a 3.5% decrease in Q4 2025 total revenue to $155.2 million and a net loss of $(49.7) million, while full-year 2025 total revenue increased 0.4% to $679.5 million with a net loss of $(134.1) million.
- The company completed the sale of Spyce to Wonder for $186.4 million on December 29, 2025, comprising $100 million in cash and $86.4 million in Series C preferred stock.
- In response to results falling short of expectations, Sweetgreen initiated the "Sweet Growth Transformation Plan" to strengthen operations and is testing menu innovation, such as wraps.
- For fiscal year 2026, Sweetgreen anticipates Same-Store Sales Change between (4.0)% to (2.0)% and Adjusted EBITDA between $1.0 million to $6.0 million.
Feb 26, 2026, 9:28 PM
Sweetgreen Announces Fourth Quarter and Fiscal Year 2025 Financial Results
SG
Earnings
Guidance Update
Demand Weakening
- Sweetgreen reported a 3.5% decrease in Q4 2025 total revenue to $155.2 million and a 0.4% increase for fiscal year 2025 to $679.5 million, with Same-Store Sales declining 11.5% in Q4 and 7.9% for the full year.
- The company's net loss widened to $(49.7) million in Q4 2025 and $(134.1) million for fiscal year 2025, with Adjusted EBITDA turning negative at $(13.3) million in Q4 and $(11.0) million for the full year.
- Sweetgreen launched a "Sweet Growth Transformation Plan" to improve operations and announced the sale of Spyce to Wonder for $186.4 million post-fiscal year end.
- For fiscal year 2026, the company projects approximately 15 Net New Restaurant Openings, a Same-Store Sales Change between (4.0)% to (2.0)%, Restaurant-Level Profit Margin of 14.2% to 14.7%, and Adjusted EBITDA between $1.0 million to $6.0 million.
Feb 26, 2026, 9:05 PM
Sweetgreen Completes Sale of Spyce to Wonder
SG
M&A
Accounting Changes
- Sweetgreen, Inc. completed the sale of its Spyce business unit, which developed the Infinite Kitchen technology, to Wonder Group, Inc. on December 29, 2025.
- The consideration for the sale included $100 million in cash and shares of Series C Preferred Stock of Wonder with an implied value of $86.4 million.
- Sweetgreen recognized a gain on disposal of approximately $160.0 million from the Spyce Sale.
- The company will continue to use the Infinite Kitchen technology in its restaurants through a long-term supply and services agreement with Wonder, enabling Sweetgreen to focus on its core restaurant operations and growth.
- Pro forma financial statements show a pro forma net income of $86.732 million for the year ended December 29, 2024, and a pro forma net loss of $(76.214) million for the thirty-nine weeks ended September 28, 2025, reflecting the impact of the sale.
Jan 5, 2026, 10:23 PM
Sweetgreen Completes Sale of Spyce to Wonder
SG
M&A
New Projects/Investments
- Sweetgreen, Inc. (NYSE: SG) has completed the sale of its Infinite Kitchen automation business, Spyce, to Wonder Group, Inc.
- The transaction includes $100 million in cash and shares of Series C Preferred Stock of Wonder with an implied value of $86.4 million.
- This strategic sale allows Sweetgreen to reinvest in key priorities and focus on its core restaurant operations, growth, and operational efficiency.
- Sweetgreen will continue to use the Infinite Kitchen technology in its restaurants through a long-term supply and services agreement.
- Sweetgreen originally acquired Spyce in 2021 for approximately $70 million and the technology is currently in more than 20 Sweetgreen locations.
Dec 29, 2025, 9:05 PM
Sweetgreen Sells Robotics Subsidiary Spyce to Wonder
SG
M&A
Guidance Update
Demand Weakening
- Sweetgreen sold its robotics subsidiary, Spyce, to Wonder for $186.4 million, receiving $100 million in cash and $86.4 million in Wonder preferred stock.
- Sweetgreen will maintain operational access to the Infinite Kitchen technology through a supply and licensing agreement, offloading manufacturing and R&D responsibilities. This technology has shown 700 basis points of labor savings and nearly 100 basis points of cost of goods sold (COGS) improvement in equipped stores.
- This strategic divestment comes as Sweetgreen faces challenges, including a 9.5% same-store sales decline and widening net losses, prompting a downward revision of full-year 2025 financial guidance.
- Sweetgreen plans to open approximately 37 net new restaurants in 2025, with about half featuring the Infinite Kitchen technology, and expects to reduce future unit build costs by purchasing equipment from Wonder at cost plus about five percent.
Nov 7, 2025, 12:03 PM
Sweetgreen Reports Q3 2025 Results, Announces Sale of Spice Unit, and Updates Guidance
SG
Earnings
Guidance Update
M&A
- Sweetgreen reported Q3 2025 sales of $172.4 million and a same-store sales decline of 9.5%, resulting in a negative adjusted EBITDA of $4.4 million.
- The company announced the strategic sale of its Spice business unit, which developed the Infinite Kitchen, to Wonder for $186.4 million. This transaction is expected to infuse Sweetgreen's balance sheet with approximately $100 million in liquidity and generate $8 million in annualized G&A savings.
- Sweetgreen updated its 2025 guidance, projecting revenue between $682 and $688 million, negative same-store sales of 8.5% to 7.7%, and adjusted EBITDA between negative $13 and negative $10 million.
- For 2026, the company plans to open 15 to 20 net new restaurants, a reduction from the 37 net new restaurants expected for 2025, as it prioritizes financial discipline and profitability.
- Sweetgreen is implementing a "Sweet Growth Transformation Plan" focused on operational excellence, brand relevance, food quality and menu innovation, personalized digital experience, and disciplined investment, including a review of its menu and pricing architecture.
Nov 6, 2025, 10:00 PM
Sweetgreen, Inc. Announces Q3 2025 Financial Results and Updated FY2025 Guidance
SG
Earnings
Guidance Update
Demand Weakening
- Sweetgreen, Inc. reported a net loss of $(36.1) million on $172.4 million in total revenue for Q3 2025, representing a 0.6% decrease in revenue compared to the prior year period.
- The company's Restaurant-Level Profit Margin declined to 13.1% and Adjusted EBITDA was $(4.4) million for Q3 2025, down from 20.1% and $6.8 million, respectively, in Q3 2024. This decline was primarily due to a (9.5)% Same-Store Sales Change and increased operating costs.
- Sweetgreen updated its Fiscal Year 2025 guidance, projecting revenue between $682 million and $688 million, a Same-Store Sales Change of (8.5)% to (7.7)%, and Adjusted EBITDA between $(13) million to $(10) million.
- The company announced the sale of Spyce and a partnership with Wonder to maintain access to the Infinite Kitchen platform, with the goal of scaling more efficiently, lowering operating costs, and strengthening its balance sheet.
Nov 6, 2025, 9:21 PM
Quarterly earnings call transcripts for Sweetgreen.
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