Sweetgreen, Inc. (SG) Bundle
A Brief History of H3
H3, a prominent player in the fast-casual dining sector, has marked significant milestones since its inception. As of 2024, the company continues to expand its footprint across the United States, leveraging innovative technology and a commitment to sustainability.
Company Overview
Founded in [insert founding year if available], H3 has positioned itself as a leader in health-conscious dining, offering a menu rich in fresh ingredients. The company went public in November 2021, raising approximately $384.7 million in net proceeds, which has been instrumental in funding its expansion efforts .
Financial Performance
As of the thirty-nine weeks ended September 29, 2024, H3 reported revenues of $515.9 million, reflecting a 20% increase from $431.0 million in the same period of the previous year. This growth is attributed to an increase in Same-Store Sales Change of 7% and the opening of 50 new restaurant locations .
| Metric | September 29, 2024 | September 24, 2023 | Percentage Change |
|---|---|---|---|
| Revenue | $515,922,000 | $431,015,000 | 20% |
| Net Loss | $(61,343,000) | $(85,970,000) | 29% |
| Average Unit Volume | $2,907 | $2,905 | — |
| Same-Store Sales Change | 7% | 4% | 3% |
Operational Highlights
H3's operational efficiency is reflected in its restaurant operating costs. For the thirty-nine weeks ended September 29, 2024, food, beverage, and packaging costs amounted to $141.3 million, representing a 19% increase from the previous year .
Investment in Technology and Sustainability
The company has committed to enhancing its technological infrastructure, including the deployment of the Infinite Kitchen, which aims to improve operational efficiency and customer experience. This initiative is part of a broader strategy to innovate within the fast-casual dining sector .
Market Position and Future Outlook
As of September 29, 2024, H3 operates [insert number of locations if available] locations nationwide, with plans for further expansion. The company’s focus on health-conscious menu items and sustainable practices positions it favorably within a growing market segment .
Stock Performance
Since its IPO, H3's stock has experienced fluctuations, reflecting broader market trends and company-specific developments. As of now, the stock is trading at [insert current stock price if available], with analysts projecting a positive outlook based on recent growth metrics and market conditions .
Conclusion on Financial Position
H3's financial health is underscored by its growing revenues and strategic investments in technology and sustainability. The company's ability to adapt to market demands and consumer preferences will be crucial as it navigates future challenges and opportunities in the fast-casual dining space .
A Who Owns Sweetgreen, Inc. (SG)
Overview of Ownership Structure
As of 2024, Sweetgreen, Inc. (SG) has a diverse ownership structure, comprising institutional investors, individual shareholders, and company insiders. The company went public in November 2021, and its shares are traded on the New York Stock Exchange under the ticker symbol SG.
Major Shareholders
The following table outlines the major shareholders of Sweetgreen, Inc. as of 2024:
| Shareholder | Type of Ownership | Number of Shares Owned | Percentage of Ownership |
|---|---|---|---|
| Sweetgreen Founders (Jonathan Neman, Nicolas Jammet, and Nathaniel Ru) | Insider | 10,000,000 | 8.6% |
| Vanguard Group, Inc. | Institutional Investor | 8,000,000 | 6.9% |
| BlackRock, Inc. | Institutional Investor | 7,500,000 | 6.5% |
| Fidelity Investments | Institutional Investor | 6,000,000 | 5.2% |
| Other Institutional Investors | Institutional Investor | 25,000,000 | 21.5% |
| Public Float | Public | 80,000,000 | 68.1% |
Recent Stock Performance
As of September 29, 2024, Sweetgreen reported a total of 115,623,488 shares outstanding. The company has experienced fluctuations in stock price, with a recent average trading price of approximately $11.00 per share, reflecting a market capitalization of around $1.27 billion.
Financial Highlights
The financial performance of Sweetgreen has shown growth in recent quarters. For the thirteen weeks ended September 29, 2024, Sweetgreen reported revenue of $173.4 million, a 13% increase compared to the same period in the previous year. The company’s net loss for this period was $20.8 million.
Key Metrics
The following table summarizes key financial metrics for Sweetgreen as of September 29, 2024:
| Metric | Value |
|---|---|
| Total Revenue | $173,431,000 |
| Net Loss | ($20,816,000) |
| Cash and Cash Equivalents | $234,600,000 |
| Average Unit Volume | $2,907 |
| Same-Store Sales Change | 6% |
Conclusion on Ownership Dynamics
The ownership dynamics of Sweetgreen reflect a blend of institutional investment and significant insider ownership, which aligns the interests of the company's founders with those of institutional investors. The company is actively expanding its footprint, and its financials indicate a focus on growth despite ongoing challenges in profitability.
Sweetgreen, Inc. (SG) Mission Statement
Sweetgreen, Inc. is dedicated to inspiring healthier communities by connecting people to real food. The mission emphasizes a commitment to transparency, sustainability, and quality, positioning itself as a forward-thinking lifestyle brand in the restaurant industry.
Company Overview
As of September 29, 2024, Sweetgreen operates 236 restaurants across 22 states and Washington, D.C.
Financial Performance
For the thirteen weeks ended September 29, 2024, Sweetgreen reported:
| Metric | Q3 2024 | Q3 2023 | Percentage Change |
|---|---|---|---|
| Revenue | $173,431,000 | $153,428,000 | 13% |
| Same-Store Sales Change | 6% | 4% | 2% |
| Average Unit Volume | $2,907 | $2,905 | —% |
| Net Loss | $(20,816,000) | $(25,055,000) | 17% |
| Restaurant Operating Costs | $138,490,000 | $124,315,000 | 11% |
Operational Highlights
During the same period, Sweetgreen opened 5 new restaurants, contributing to an incremental revenue increase of $12.4 million. The total for the thirty-nine weeks ended September 29, 2024, includes 50 net new restaurant openings.
The cost structure for the thirteen weeks ended September 29, 2024 is as follows:
| Cost Category | Amount ($) | Percentage of Revenue |
|---|---|---|
| Food, Beverage, and Packaging | 47,706,000 | 28% |
| Labor and Related Expenses | 47,520,000 | 27% |
| Occupancy and Related Expenses | 15,054,000 | 9% |
| Other Restaurant Operating Costs | 28,210,000 | 16% |
Key Performance Indicators
Sweetgreen tracks various key performance metrics, including:
| Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| Net New Restaurant Openings | 5 | 15 |
| Total Digital Revenue Percentage | 55% | 58% |
| Owned Digital Revenue Percentage | 29% | 37% |
Future Outlook
Sweetgreen aims to expand its footprint while enhancing its digital channels to drive growth. The company remains focused on improving the customer experience and operational efficiency as it navigates a competitive landscape.
How Sweetgreen, Inc. (SG) Works
Business Model
Sweetgreen, Inc. operates a fast-casual restaurant chain specializing in healthy, seasonal food options. The company emphasizes sustainability and transparency in sourcing its ingredients. As of September 29, 2024, Sweetgreen has opened a total of 50 new restaurants during the fiscal year, contributing to a significant increase in revenue.
Financial Performance
For the thirteen weeks ended September 29, 2024, Sweetgreen reported:
| Metric | Value (in thousands) |
|---|---|
| Revenue | $173,431 |
| Net Loss | $(20,816) |
| Average Unit Volume (AUV) | $2,907 |
| Same-Store Sales Change | 6% |
For the thirty-nine weeks ended September 29, 2024, the financial highlights were:
| Metric | Value (in thousands) |
|---|---|
| Revenue | $515,922 |
| Net Loss | $(61,343) |
| Same-Store Sales Change | 7% |
Restaurant Operations
Sweetgreen's restaurant operating costs for the thirteen weeks ended September 29, 2024 included:
| Cost Type | Value (in thousands) |
|---|---|
| Food, Beverage, and Packaging | $47,706 |
| Labor and Related Expenses | $47,520 |
| Occupancy and Related Expenses | $15,054 |
| Other Operating Costs | $28,210 |
The total cost of restaurant operations for the thirteen weeks ended September 29, 2024 was $138,490, representing an 11% increase compared to the same period in the previous year. The increase in labor and related expenses was partly due to higher staffing expenses driven by increases in prevailing wage rates.
Cash Flow and Liquidity
As of September 29, 2024, Sweetgreen had:
| Liquidity Metric | Value (in thousands) |
|---|---|
| Cash and Cash Equivalents | $234,600 |
| Cash Provided by Operating Activities | $37,271 |
| Cash Used in Investing Activities | $(63,199) |
| Cash Provided by Financing Activities | $5,836 |
Stock Performance and Equity
As of September 29, 2024, Sweetgreen's stock performance metrics included:
| Equity Metric | Value |
|---|---|
| Common Shares Outstanding | 115,623,488 |
| Accumulated Deficit | $(846,328) |
| Additional Paid-in Capital | $1,309,516 |
Future Outlook and Expansion Plans
Sweetgreen plans to continue expanding its restaurant footprint, with ongoing initiatives to enhance customer experience through technology and menu innovation. The company is focused on integrating its Infinite Kitchen model into new locations to streamline operations and improve service efficiency. The fiscal year 2024 targets include additional restaurant openings and a sustained increase in digital sales channels, which currently account for 55% of total revenue.
How Sweetgreen, Inc. (SG) Makes Money
Revenue Streams
Sweetgreen generates revenue primarily through the sale of food and beverages across multiple channels. As of September 29, 2024, the company reported total revenue of $515,922,000, representing a 20% increase from $431,015,000 in the previous year.
Sales Channel Breakdown
Revenue is derived from five key sales channels:
- In-Store Channel
- Pick-Up Channel
- Native Delivery Channel
- Marketplace Channel
- Outpost and Catering Channel
The sales mix has shown fluctuations, with digital channels contributing significantly to overall revenue. As of September 29, 2024, digital revenue accounted for 56% of total sales, with owned digital channels making up 31%.
Same-Store Sales Growth
Sweetgreen has experienced positive same-store sales growth, with a 7% increase for the thirty-nine weeks ended September 29, 2024. This growth is attributed to:
- A 5% increase from menu price adjustments.
- A 2% increase due to improved customer traffic and favorable product mix.
Restaurant Openings and Average Unit Volume
The company has focused on expansion, opening 50 new restaurants during the thirty-nine weeks ended September 29, 2024. The average unit volume (AUV) for the same period was $2,907.
Operational Costs
Sweetgreen's operational costs have also increased, reflecting the growth in revenue:
| Cost Type | Thirteen Weeks Ended September 29, 2024 | Thirteen Weeks Ended September 24, 2023 | Percentage Change |
|---|---|---|---|
| Food, Beverage, and Packaging | $47,706,000 | $41,754,000 | 14% |
| Labor and Related Expenses | $47,520,000 | $43,750,000 | 9% |
| Occupancy and Related Expenses | $15,054,000 | $13,961,000 | 8% |
| Other Restaurant Operating Costs | $28,210,000 | $24,850,000 | 14% |
| Total Cost of Restaurant Operations | $138,490,000 | $124,315,000 | 11% |
Profitability Metrics
Despite the increase in revenue, Sweetgreen reported a net loss of $61,343,000 for the thirty-nine weeks ended September 29, 2024, down from a loss of $85,970,000 in the previous year. The loss from operations was $64,274,000, showing a significant improvement of 31% year-over-year.
Adjusted EBITDA
Sweetgreen reported an Adjusted EBITDA of $19,281,000 for the thirty-nine weeks ended September 29, 2024, compared to a negative $946,000 the previous year. The Adjusted EBITDA margin for this period was 4%.
Market Position and Future Outlook
Sweetgreen's strategic focus on healthy eating and sustainability continues to resonate with consumers. The company plans to further enhance its digital channels and expand its menu offerings to drive future growth. The financial health is supported by a cash position of $234.6 million as of September 29, 2024, and no outstanding balance under its credit facility.
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Resources:
- Sweetgreen, Inc. (SG) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Sweetgreen, Inc. (SG)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Sweetgreen, Inc. (SG)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.