Sweetgreen Q4 Earnings Call Highlights

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Sat, February 28, 2026 astatine 5:07 PM CST 8 min read

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Weak fiscal 2025 results: Sweetgreen reported gross of $679.5 cardinal and comparable-sales down 7.9% for the year, with Q4 comparable income down 11.5% (traffic down 13.3%), restaurant-level borderline sliding to 10.4% successful Q4, and a widened Q4 nett nonaccomplishment of $49.7 cardinal (adjusted EBITDA nonaccomplishment $13.3 million).
Transformation and menu/operations push: Management is 1 4th into a "Sweet Growth Transformation Plan" focused connected operations, food, personalization, brand, and disciplined concern — initiatives see "Project One Best Way," throughput improvements, a Stage‑Gate innovation process, and a wraps aviator aimed astatine winning handheld occasions.
2026 outlook and balance-sheet actions: Sweetgreen guided same‑store income down 2%–4% for fiscal 2026 (with restaurant‑level borderline 14.2%–14.7% and adjusted EBITDA $1M–$6M), plans ~15 nett caller restaurants (nearly fractional with Infinite Kitchen), and added $100M currency from the merchantability of Spyce portion ending the 4th with $89.2M connected hand.
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Sweetgreen (NYSE:SG) outlined its aboriginal advancement nether a “Sweet Growth Transformation Plan” portion reporting a challenging 4th fourth and full-year 2025 marked by postulation unit and borderline deleverage. Management emphasized that the institution is 1 4th into its translation effort and is focused connected improving execution fundamentals, strengthening worth perception, and investing selectively with instrumentality thresholds.

For fiscal 2025, Sweetgreen reported gross of $679.5 cardinal and comparable income that declined 7.9%. The institution opened 35 nett caller restaurants during the twelvemonth and ended 2025 with 281 locations. Restaurant-level borderline was 15.2%, and adjusted EBITDA was a nonaccomplishment of $11 million.

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In the 4th quarter, income were $155.2 cardinal versus $160.9 cardinal a twelvemonth ago, portion comparable income declined 11.5%. Restaurant-level borderline fell to 10.4% from 17.4% successful the prior-year quarter. Net nonaccomplishment widened to $49.7 cardinal from a nett nonaccomplishment of $29 million, and adjusted EBITDA was a nonaccomplishment of $13.3 cardinal compared with a $0.6 cardinal nonaccomplishment past year.

CFO Jamie McConnell said the fourth-quarter comp diminution was driven by a 13.3% alteration successful postulation and mix, partially offset by a 1.8% payment from terms increases. She besides noted the interaction of the company’s modulation from Sweetpass+ to SG Rewards, which eliminated subscription gross and introduced a loyalty deferral.

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