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Sweetgreen
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Latest analysis
Updated Nov 6, 2026
Sweetgreen Q3 FY2026: Cyclosporiasis outbreak drives -6.4% SSS, AUV falls to $2.47M as traffic declines accelerate despite G&A discipline
A July 2026 multistate cyclosporiasis outbreak — unrelated to Sweetgreen's supply chain — directly suppressed Q3 traffic, producing a -6.4% same-store sales comp driven by a 4.9% traffic decline and 2.1% negative mix shift, with only 0.6% menu price benefit partially offsetting. Revenue grew 2.1% to $176.0 million on new unit contribution alone, masking a $10.7 million decline in comparable restaurant base revenue. The Spyce divestiture to Wonder for $186.4 million total consideration closed in the period, generating a $160.5 million pre-tax gain and lifting the nine-month cash position to $119.8 million, while operating losses continued at $31.8 million for the quarter.
Tone: defensiveRevenue
$679.5M
SG 10-K · FY 2025
Employees
6,486
Revenue FY2024
$676.8M
Founded
2006
Profile
SG 10-K Item 1 · Feb 27, 2026Sweetgreen is a fast-casual restaurant chain operating 281 company-owned locations across 24 states and Washington, D.C., focused on serving high-quality, health-oriented food. The company sells through five channels — in-store, pick-up, native delivery, marketplace, and outpost/catering — with digital channels representing over 61% of revenue. Its strategic framework, the Sweet Growth Transformation Plan, prioritizes operational discipline, menu innovation, and profitable unit economics over aggressive expansion.
Read filing description ↓ Collapse description ↑
Sweetgreen, Inc. 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. 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. We supplement our core offerings with seasonal and limited-time items that allow us to introduce new flavors and test innovation while maintaining operational consistency. Through our owned digital channels, we also offer exclusive menu items and curated collections that support discovery, personalization, and guest engagement. Sweetgreen's mission is to build healthier communities by connecting people to real food. Over the past year, our leadership team has evaluated the business and refined our strategic priorities to strengthen execution, enhance the guest experience, and build a more durable financial model. We refer to this framework as the Sweet Growth Transformation Plan which is centered on five strategic priorities: Operational Excellence, Food Quality + Menu Innovation, Personalized Experience, Brand Relevance, and Disciplined Profitable Investment.
Primary products
- core menu salads, bowls, and plates
- seasonal and limited-time items
- exclusive digital channel menu items
- catering offerings
- In-Store Channel
- Marketplace Channel
End markets
Geographies
Named competitors
“Many of our competitors have operated longer and have a more established market presence with substantially greater financial, marketing, personnel, and other resources than we do, and therefore may be better positioned to succeed in the highly competitive restaurant industry.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Revenue increased slightly from fiscal year 2024 to fiscal year 2025, despite a same-store sales decline of 7.9%, with growth driven by net new restaurant openings.
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