NASDAQ$SG

SweetGreen · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Sweetgreen's financial performance showed continued recovery from the pandemic with increased revenue and improved restaurant-level margins.

Sweetgreen reported a 63% increase in total revenue to $96.4 million for Q4 2021, driven by a 36% increase in same-store sales and net new restaurant openings. The company's restaurant-level profit margin improved to 13%.

  • Total revenue increased by 63% to $96.4 million.
  • Same-store sales change was 36%.
  • Restaurant-level profit margin was 13%.
  • Net loss was $(66.2) million.

Headline financials

Total Revenue

$96.4M

Previous: -$8.7M+1208.1%
EPS (adj)

-$1.14

Previous: -$8.80+87.0%
Net New Openings

10

Previous: 4+150.0%
Same-Store Sales Change

36.0%

Previous: -28.0%+228.6%
Total Digital Revenue %

65.0%

Previous: 78.0%-16.7%
Owned Digital Revenue %

43.0%

Previous: 54.0%-20.4%
Restaurant-Level Profit Margin

13.0%

No prior period
Capital Expenditures

$24.4M

Previous: $48.1M-49.2%
Free Cash Flow

-$52.8M

Previous: -$138M+61.9%
Net Income

-$66.2M

Previous: -$141M+53.1%
Operating Income

-$47.8M

Previous: -$142M+66.2%
Gross Profit

$12.3M

Previous: $221M-94.4%
Cash & Equivalents

$472M

Previous: $103M+359.3%
Total Assets

$763M

No prior period
Stock-Based Comp

$22.8M

Previous: $4.91M+364.0%

Revenue & EPS history

Sweetgreen · Revenue · Quarterly

$96.4M

Q4 2021-1,208.1%vs Q4 2020
Beat estimate in 6 of 11 quarters(55%)
ActualEstimate

Forward guidance

For fiscal year 2022, Sweetgreen anticipates at least 35 net new restaurant openings, revenue ranging from $515 million to $535 million, same-store sales change of between 20% and 26%, restaurant-level profit margin between 16% and 17%, and adjusted EBITDA between $(40) million to $(33) million.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

+0.5%

Avg return

Earnings day

+0.1%

Avg return

5 days after

-0.7%

Avg return

30 days after

43%

9 / 21 earnings

Positive

+35.7%

Q1 2024

Best reaction

-22.2%

Q1 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.3%-5.4%+7.7%
Q4 2025-9.8%-9.9%-23.5%
Q3 2025-7.4%-14.1%+7.0%
Q1 2025-16.0%-14.0%-22.7%
Q4 2024+0.0%-7.2%+10.3%
Q3 2024-4.7%-9.0%+1.0%
Q2 2024+35.6%+33.5%+7.9%
Q1 2024+35.7%+37.5%+39.0%
Q4 2023+31.9%+43.8%+103.7%
Q3 2023-6.8%-5.6%-4.6%
Q2 2023-14.1%-12.0%-15.3%
Q1 2023+16.7%+16.4%+27.5%
Q4 2020-1.6%-10.6%-33.4%
Q4 2022-1.6%-10.6%-33.4%
Q3 2021-12.4%-15.7%-39.0%
Q3 2022-20.2%-13.4%-36.3%
Q2 2021+8.0%+20.4%+20.1%
Q2 2022+3.5%+12.6%+10.6%
Q1 2021-22.2%-32.3%-33.8%
Q1 2022-15.5%-27.2%-38.6%
Q4 2021+11.2%+24.2%+31.8%
Q3 2020
Q2 2020
Q1 2020
Q4 2019
Q3 2019
Q2 2019
Q1 2019
Q4 2018

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