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CAVA Group, Inc. logo

CAVA Group, Inc.

cava.com

What Do They Do?

Sells Mediterranean meals to restaurant guests and dips and spreads through grocery stores.

How Do They Make Money?

Restaurant guests pay at the point of sale for in-restaurant and digital orders. Grocery customers buy dips, spreads, and dressings, with those product sales tied to delivery.

revenue
SegmentShareRevenue
Restaurant revenue
Sold outright

99%
FY2022: 99%
CPG revenue and other
Sold outright
0.9%
FY2022: 1.3%

Who Are Their Customers?

Guests buy meals in CAVA restaurants, through the app and website, and through delivery; grocery shoppers buy dips, spreads, and prepared dressings.

Do Revenues Turn Into Profits?

Yes. It kept 5 cents of every revenue dollar as net income in FY2025 and turned 2 cents into free cash flow.

Operating income, FY2025
5% of revenue
▲ +28% vs FY2024 ($43.1M, 4%)
Net income, FY2025
5% of revenue
▼ −51% vs FY2024 ($130.3M, 14%)
Free cash flow, FY2025
2% of revenue
▼ −51% vs FY2024 ($52.9M, 5%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jul 12, 2026
Revenue
▲ +31%
vs $280.6M in Q2 FY2025
Net income
▲ +25%
vs $18.4M in Q2 FY2025
Restaurant revenue share of revenue vs 99.2% in Q2 FY2025
  • Aug 11, 2026 Reaffirmed fiscal 2026 guidance The outlook includes adjusted EBITDA of $181.0 to $191.0 million.

Growing. Revenue grew 2.4x in 4 years, from $500.1M in FY2021 to $1.2B in FY2025, about 24% a year.

Revenue over time
Restaurant revenue CPG revenue and other
$2B$1B$0

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