Quarterly ResultMay 7, 2026, 04:35 PM
Sweetgreen Q1 Net Income $125.8M on Spyce Sale; Revenue Down 2.9%
AI Summary
Sweetgreen, Inc. reported a net income of $125.8 million for Q1 2026, a significant improvement from a net loss of $(25.0) million in the prior year, primarily driven by a $160.6 million gain from the Spyce business disposal. However, total revenue decreased by 2.9% to $161.5 million, and same-store sales declined by 12.8%. The company also launched Wraps nationwide and provided a mixed outlook for fiscal year 2026.
Key Highlights
- Net income was $125.8 million, up from a net loss of $(25.0) million YoY, driven by Spyce sale.
- Total revenue decreased 2.9% to $161.5 million.
- Same-Store Sales Change was (12.8%), compared to (3.1%) in prior year.
- Loss from operations increased to $(34.3) million from $(28.5) million YoY.
- Adjusted EBITDA was $(8.1) million, down from $0.3 million YoY.
- Launched Wraps nationwide, driving guest acquisition and retention in market tests.
- Fiscal Year 2026 Same-Store Sales Change guidance is (4.0)% to (2.0)%.
- Fiscal Year 2026 Adjusted EBITDA guidance is $1.0 million to $6.0 million.