Sweetgreen, Inc. ( (SG) ) has released its Q1 earnings. Here is a breakdown of the information Sweetgreen, Inc. presented to its investors.
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Sweetgreen, Inc. is a mission-driven restaurant and lifestyle brand that focuses on serving healthy food at scale, operating primarily in the fast-casual dining sector with a commitment to quality ingredients and community engagement.
In its first quarter of fiscal year 2025, Sweetgreen reported a revenue increase of 5.4% to $166.3 million, despite facing a challenging industry landscape. The company opened five new restaurants, contributing to its growth, although it experienced a decline in same-store sales by 3.1% compared to the previous year.
Key financial metrics revealed a slight increase in restaurant-level profit to $29.7 million, with a margin of 17.9%. However, the company reported a net loss of $25.0 million, a slight improvement from the previous year’s loss. Adjusted EBITDA showed a modest increase to $0.3 million, indicating some operational efficiency gains. The digital revenue percentage remained strong at 59.9%, reflecting the company’s continued focus on digital channels.
Looking ahead, Sweetgreen aims to open at least 40 new restaurants in 2025, with a revenue target between $740 million and $760 million. The company is focusing on innovation and customer engagement to build a resilient platform for sustainable growth, despite the external challenges it faces.