Sweetgreen, Inc. SG
Sweetgreen, Inc., a Delaware corporation (together with its subsidiaries, "Sweetgreen," "we,", "us," or the "Company") is a mission-driven, next generation restaurant and lifestyle brand that serves healthy food at scale. Our bold vision is to be as ubiquitous as traditional fast food, but with the transparency and quality that consumers increasingly expect. As of December 28, 2025, we owned and operated 281 restaurants in 24 states and Washington, D.C.
We have designed our menu to be delicious, customizable, and convenient to empower our customers to make healthier choices for both lunch and dinner. We are constantly seeking ways to enhance our menu, all while honoring our food ethos.
Our core menu consists of a curated set of signature items offered year-round across all locations, designed to deliver consistent quality and reflect our food philosophy, supported by a disciplined and scalable supply chain. Guests may also create a custom salad, bowl, or plate from a broad assortment of ingredients and signature dressings, enabling meaningful customization within a standardized ingredient system.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $679.5M | $676.8M | $584.0M | $470.1M | $339.9M | $220.6M | — |
| R&D | $1.0M | $1.2M | $1.2M | $2.0M | — | — | — |
| SG&A | $143.4M | $149.9M | $146.8M | $187.4M | $125.0M | $99.1M | — |
| Total operating expenses | $242.8M | $228.7M | $224.3M | $262.6M | $174.8M | $132.9M | — |
| Operating income | -$139.3M | -$95.7M | -$122.3M | -$193.3M | -$134.4M | -$141.6M | — |
| Interest expense | $19.0K | $256.0K | $128.0K | $83.0K | $87.0K | $404.0K | — |
| Pre-tax income | -$134.0M | -$91.7M | -$113.0M | -$189.1M | -$153.0M | -$141.2M | — |
| Income tax | $46.0K | $1.3M | $379.0K | $1.3M | $147.0K | $0 | — |
| Net income | -$134.1M | -$90.4M | -$113.4M | -$190.4M | -$153.2M | -$141.2M | — |
| EPS, basic | -1.14 | -0.79 | -1.01 | -1.73 | -5.51 | -8.80 | — |
| EPS, diluted | -1.14 | -0.79 | -1.01 | -1.73 | -5.51 | -8.80 | — |
| Shares, diluted (wtd. avg.) | $118.0M | $114.3M | $111.9M | $110.1M | $27.8M | $16.1M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $89.2M | $214.8M | $257.4M | $331.7M | $472.3M | $102.8M | $249.4M |
| Receivables | $5.2M | $5.0M | $3.5M | $3.2M | $2.6M | — | — |
| Inventory | $2.4M | $2.0M | $2.1M | $1.4M | $903.0K | — | — |
| Total current assets | $129.7M | $234.5M | $276.1M | $346.1M | $506.7M | — | — |
| Property, plant and equipment | $326.9M | $296.5M | $266.9M | $235.3M | $180.7M | — | — |
| Goodwill | $27.8M | $36.0M | $36.0M | $36.0M | $36.0M | $6.3M | — |
| Other intangibles | $10.4M | $24.0M | $27.4M | $30.6M | $32.9M | — | — |
| Total assets | $788.1M | $856.8M | $856.6M | $908.9M | $762.6M | — | — |
| Accounts payable | $19.9M | $18.7M | $17.4M | $12.2M | $11.2M | — | — |
| Total current liabilities | $118.7M | $115.8M | $91.6M | $72.5M | $47.5M | — | — |
| Total liabilities | $432.0M | $410.6M | $374.0M | $367.7M | $109.5M | — | — |
| Retained earnings | -$1.01B | -$875.4M | -$785.0M | -$671.6M | -$476.2M | — | — |
| Total equity | $356.1M | $446.1M | $482.6M | $541.2M | $653.1M | -$307.4M | -$173.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$12.7M | $43.4M | $26.5M | -$43.2M | -$64.5M | -$90.4M | — |
| Depreciation and amortisation | $71.5M | $67.3M | $59.5M | $46.5M | $35.5M | $26.9M | — |
| Stock-based compensation | $36.5M | $39.0M | $49.5M | $78.7M | $28.9M | $4.9M | — |
| Capital expenditure | $106.5M | $84.5M | $89.7M | $96.9M | $84.5M | $48.1M | — |
| Investing cash flow | -$114.3M | -$92.2M | -$95.7M | -$102.0M | -$97.5M | -$58.4M | — |
| Financing cash flow | $2.9M | $8.9M | -$5.2M | $4.6M | $531.6M | $2.1M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-016260.
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