NASDAQ$SG

SweetGreen · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Announced financial results for the fourth quarter ended December 25, 2022.

Sweetgreen's Q4 2022 total revenue increased by 23% to $118.6 million compared to the prior year period. Same-store sales change was 4% and AUV was $2.9 million. The company reported a net loss of $(49.3) million and an adjusted EBITDA of $(17.9) million.

  • Total revenue increased by 23% to $118.6 million.
  • Same-store sales change was 4%.
  • AUV reached $2.9 million.
  • Net loss was $(49.3) million.

Headline financials

Total Revenue

$119M

Previous: $96.4M+23.0%
EPS (adj)

-$0.44

Previous: -$1.14+61.4%
Net New Openings

10

Previous: 10+0.0%
Same-Store Sales Change

4.0%

Previous: 36.0%-88.9%
Total Digital Revenue %

61.0%

Previous: 65.0%-6.2%
Owned Digital Revenue %

40.0%

Previous: 43.0%-7.0%
Restaurant-Level Profit Margin

11.0%

Previous: 13.0%-15.4%
Capital Expenditures

$30.9M

Previous: $24.4M+26.5%
Free Cash Flow

-$50M

Previous: -$52.8M+5.2%
Net Income

-$49.3M

Previous: -$66.2M+25.6%
Operating Income

-$47.7M

Previous: -$47.8M+0.2%
Gross Profit

$13.1M

Previous: $12.3M+6.3%
Cash & Equivalents

$332M

Previous: $472M-29.7%
Total Assets

$909M

Previous: $763M+19.2%
Stock-Based Comp

$15.8M

Previous: $22.8M-30.8%

Revenue & EPS history

Sweetgreen · Revenue · Quarterly

$119M

Q4 2022+23%vs Q4 2021
Beat estimate in 6 of 14 quarters(43%)
ActualEstimate

Forward guidance

For fiscal year 2023, Sweetgreen anticipates 30-35 net new restaurant openings, revenue ranging from $575 million to $595 million, same-store sales change of between 2% and 6%, restaurant-level profit margin between 15% and 17%, and adjusted EBITDA between $(20) million to $(10) million.

Tailwinds

  • 30-35 Net New Restaurant Openings
  • Revenue ranging from $575 million to $595 million
  • Same-Store Sales Change of between 2% and 6%
  • Restaurant-Level Profit Margin between 15% and 17%
  • Adjusted EBITDA between $(20) million to $(10) 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 2022

Historical avgQ4 2022

+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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