Sweetgreen, Inc. announced its financial results for the fourth fiscal quarter and full fiscal year ended December 29, 2024. For the full year 2024, the company achieved its first full year of positive Adjusted EBITDA, reaching $18.7 million, a substantial improvement of $21.5 million over the prior year period.
Fourth quarter 2024 total revenue increased 5% to $160.9 million, primarily due to 26 net new restaurant openings. Same-store sales change for the quarter was 4%, driven by menu price increases. Restaurant-level profit margin for Q4 2024 was 17%, an increase of over 100 basis points year-over-year, while net loss was $(29.0) million.
For fiscal year 2025, Sweetgreen anticipates at least 40 net new restaurant openings, with 20 featuring the Infinite Kitchen technology. Revenue is projected to range from $760 million to $780 million, and Adjusted EBITDA is expected to be approximately $30 million.
However, the company provided a cautious outlook for same-store sales in fiscal year 2025, projecting a decline of approximately 5% to 3%. This guidance reflects anticipated challenges and marks a significant shift from previous growth expectations. Restaurant-level profit margin for FY2025 is guided to be approximately 19.5%.
For the first quarter of fiscal year 2025, Sweetgreen anticipates revenue between $165 million and $170 million, with same-store sales change expected to be approximately negative 3% to 1%. Restaurant-level profit margin for Q1 2025 is guided to be approximately 17.5% to 18.5%.
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