Sweetgreen, Inc. ( (SG) ) has released its Q4 earnings. Here is a breakdown of the information Sweetgreen, Inc. presented to its investors.
Sweetgreen, Inc., a mission-driven restaurant and lifestyle brand, focuses on serving healthy food at scale and operates in the fast-casual dining sector with a commitment to sustainability and community engagement.
In its latest earnings report, Sweetgreen announced a 5% increase in total revenue for the fourth quarter of 2024 compared to the same period in 2023, reaching $160.9 million. The company also highlighted a full-year revenue increase of 16% to $676.8 million, marking its first full year of Adjusted EBITDA profitability.
Key financial metrics from the report include a Same-Store Sales Change of 4% for the quarter and 6% for the year, with a Restaurant-Level Profit Margin increase to 17% in the fourth quarter. Despite a net loss of $29.0 million for the quarter, Sweetgreen achieved a significant improvement in Adjusted EBITDA, which stood at $18.7 million for the year, up from a loss of $2.8 million in the previous year. The company also opened 25 new restaurants in 2024, expanding its footprint across the United States.
Looking ahead, Sweetgreen plans to open at least 40 new restaurants in 2025, with a focus on enhancing customer experience through menu innovation and a new loyalty program. The company projects revenue between $760 million and $780 million for the year, with an anticipated Same-Store Sales Change of 1-3%.
Sweetgreen’s management remains optimistic about the future, emphasizing strategic investments in marketing and technology to redefine fast food and continue its growth trajectory.