Sweetgreen reported strong Q2 2024 results with revenue up 21% YoY to $184.6 million, driven by 9% same-store sales growth and 36 net new restaurant openings. The company narrowed its loss from operations to $16.2 million from $31.2 million last year, while Restaurant-Level Profit Margin improved to 22% from 20%.Adjusted EBITDA rose significantly to $12.4 million from $3.3 million in Q2 2023, with Adjusted EBITDA Margin expanding to 7% from 2%. Digital channels accounted for 56% of total revenue. The company ended the quarter with a strong cash position of $244.6 million.Based on the strong first half performance, Sweetgreen raised its full-year 2024 guidance. The company now expects revenue of $670-680 million, same-store sales growth of 5-7%, and Adjusted EBITDA of $16-19 million. Sweetgreen plans to open 24-26 net new restaurants this year as it continues to expand its footprint.

Sweetgreen reported strong Q2 2024 results with revenue up 21% YoY to $184.6 million, driven by 9% same-store sales growth and 36 net new restaurant openings. The company narrowed its loss from operations to $16.2 million from $31.2 million last year, while Restaurant-Level Profit Margin improved to 22% from 20%.Adjusted EBITDA rose significantly to $12.4 million from $3.3 million in Q2 2023, with Adjusted EBITDA Margin expanding to 7% from 2%. Digital channels accounted for 56% of total revenue. The company ended the quarter with a strong cash position of $244.6 million.Based on the strong first half performance, Sweetgreen raised its full-year 2024 guidance. The company now expects revenue of $670-680 million, same-store sales growth of 5-7%, and Adjusted EBITDA of $16-19 million. Sweetgreen plans to open 24-26 net new restaurants this year as it continues to expand its footprint.