Sweetgreen, Inc.

sweetgreen.com

What Do They Do?

Sells customizable salads, bowls and plates to diners seeking lunch and dinner.

How Do They Make Money?

Sweetgreen sells food and drinks to restaurant customers, who pay at the point of sale. Orders come through its restaurants and digital channels, as well as third-party delivery marketplaces.

FY2025 revenue

Who Are Their Customers?

Restaurant guests buy in person or through Sweetgreen's website and app; customers can also order through third-party delivery marketplaces. Office workers, hospital workers and building residents can receive Outpost orders, while event and group customers can use catering.

Do Revenues Turn Into Profits?

No. It lost $134.1M in FY2025.

Operating income, FY2025

−21% of revenue

▲ +46% (Loss) vs FY2024 (−$95.7M, −14%)

Net income, FY2025

−20% of revenue

▲ +48% (Loss) vs FY2024 (−$90.4M, −13%)

Free cash flow, FY2025

−18% of revenue

▲ +190% (Loss) vs FY2024 (−$41.1M, −6%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 28, 2026

Revenue: ▲ +4%; vs $185.6M in Q2 FY2025
Net income: ▲ +13% (Loss); vs −$23.2M in Q2 FY2025

Aug 6, 2026 Sweetgreen updated its financial outlook The revised outlook expects approximately 13 new restaurants, same-store sales change of (8.0)% to (7.0)%, and adjusted EBITDA of $(27.0) million to $(23.0) million.

Growing. Revenue grew 100% in 4 years, from $339.9M in FY2021 to $679.5M in FY2025, about 19% a year.

Catering moved beyond a pilot The older report described catering as a pilot for event and group customers; the latest report includes catering in a channel for pickup at a restaurant or delivery to a customer-specified address.

Who Do They Compete With?

Competes with DoorDash, Grubhub, and Uber Eats

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