Sweetgreen reported fourth‑quarter 2025 results, with total revenue of $155.2 million, a 3.5% decline from the same period a year earlier, and a net loss of $49.7 million, compared with a $29.0 million loss in the prior year. The decline was driven by an $18.1 million drop in comparable restaurant base revenue and an 11.5% negative same‑store sales change, reflecting a 13.3% reduction in traffic and mix that was partially offset by a 1.8% benefit from menu price increases.
The company added 15 net new restaurants during the quarter, generating $14.1 million of incremental revenue. This expansion is part of Sweetgreen’s ongoing “Sweet Growth Transformation Plan,” which focuses on operational excellence, technology deployment, and cost control to improve margins and restore profitability.
Sweetgreen’s earnings per share estimate was $‑0.31; the actual EPS was $‑0.42, a miss of $0.11. Revenue estimate was $159.69 million; the actual revenue was $155.2 million, a miss of $4.49 million. The full‑year 2025 results were $679.5 million in revenue, a net loss of $134.1 million, and a restaurant‑level profit margin of 15.2%.
For fiscal 2026, Sweetgreen reiterated guidance that same‑store sales will decline between 4% and 2% and that adjusted EBITDA will be between $1 million and $6 million. CEO Jonathan Neman said, “Our 2025 results fell short of our expectations. In response, we are moving with urgency through the ‘Sweet Growth Transformation Plan’ to strengthen the core of the business. We are tightening our operations, raising our culinary standards, and setting the business up to grow in the right way.” He added, “We are testing wraps across select New York, Midwest, and California restaurants,” and that “Improving value perception remains one of our highest priorities.” CFO Jamie McConnell noted, “January and February are choppy. The impact of the storms to date is about 320 basis points, but that does not include the latest storm, where we have a little over 100 restaurants.” He also said, “We expect same‑store sales to be a decline in the range of negative 4% to negative 2%.”
Investors reacted positively, citing confidence in Sweetgreen’s strategic initiatives, the infusion of cash from the Spyce sale, and the potential of its Infinite Kitchen technology to drive future profitability.
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