{"url_path":"/sec/sg/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-08","source_url":"https://www.sec.gov/Archives/edgar/data/1477815/0001628280-26-032481-index.html","accession_number":"0001628280-26-032481","cik":"0001477815","ticker":"SG","issuer_name":"Sweetgreen, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1477815/0001628280-26-032481-index.html","primary_entity_key":"0001477815","primary_entity_name":"Sweetgreen, Inc."},"word_count":1603,"has_tables":true,"body_markdown":"sg-20260329\n0001477815falseDec 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of Contents](#ic80f0ebf95aa44c186df0f5e7708d47a_7)\n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\nFORM 10-Q\n\n(Mark One)\n\nx\nQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 29, 2026\n\nOR\n\no\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from______to______\n\nCommission file number 001-41069\n\nSWEETGREEN, INC.\n\n(Exact name of registrant as specified in its charter)\n\nDelaware\n\n27-1159215\n\n(State or other jurisdiction of incorporation or organization)\n\n(I.R.S. Employer Identification No.)\n\n3102 36th Street Los Angeles, CA\n\n90018\n\n(Address of Principal Executive Offices)\n\n(Zip Code)\n\n(323) 990-7040\n\nRegistrant's telephone number, including area code\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each classTrading Symbol(s)Name of each exchange on which registered\n\nClass A Common StockSGNew York Stock Exchange\n\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  o\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).     Yes  x   No  o\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer\n\nx\n\nAccelerated filer\n\no\n\nNon-accelerated filer\n\no\n\nSmaller reporting company\n\no\n\nEmerging growth company\n\no\n\n[Table of Contents](#ic80f0ebf95aa44c186df0f5e7708d47a_7)\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).     Yes   o     No  x\n\nThe registrant had 106,934,099 shares of Class A common stock and 11,893,558 shares of Class B common stock outstanding as of May 4, 2026.\n\nTABLE OF CONTENTS\n\nPage\n\n[Part I Financial Information](#ic80f0ebf95aa44c186df0f5e7708d47a_10)\n\n[Item 1.](#ic80f0ebf95aa44c186df0f5e7708d47a_13)\n\n[Financial Statements](#ic80f0ebf95aa44c186df0f5e7708d47a_13)\n\n[1](#ic80f0ebf95aa44c186df0f5e7708d47a_13)\n\n[Condensed Consolidated Balance Sheets](#ic80f0ebf95aa44c186df0f5e7708d47a_16)\n\n[1](#ic80f0ebf95aa44c186df0f5e7708d47a_16)\n\n[Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)](#ic80f0ebf95aa44c186df0f5e7708d47a_19)\n\n[2](#ic80f0ebf95aa44c186df0f5e7708d47a_19)\n\n[Condensed Consolidated Statement of Stockholders’ Equity](#ic80f0ebf95aa44c186df0f5e7708d47a_22)\n\n[3](#ic80f0ebf95aa44c186df0f5e7708d47a_22)\n\n[Condensed Consolidated Statements of Cash Flows](#ic80f0ebf95aa44c186df0f5e7708d47a_25)\n\n[4](#ic80f0ebf95aa44c186df0f5e7708d47a_25)\n\n[Notes to the Condensed Consolidated Financial Statements](#ic80f0ebf95aa44c186df0f5e7708d47a_28)\n\n[5](#ic80f0ebf95aa44c186df0f5e7708d47a_28)\n\n[Item 2.](#ic80f0ebf95aa44c186df0f5e7708d47a_79)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#ic80f0ebf95aa44c186df0f5e7708d47a_79)\n\n[19](#ic80f0ebf95aa44c186df0f5e7708d47a_79)\n\n[Item 3.](#ic80f0ebf95aa44c186df0f5e7708d47a_115)\n\n[Quantitative and Qualitative Disclosures About Market Risk](#ic80f0ebf95aa44c186df0f5e7708d47a_115)\n\n[28](#ic80f0ebf95aa44c186df0f5e7708d47a_115)\n\n[Item 4.](#ic80f0ebf95aa44c186df0f5e7708d47a_118)\n\n[Controls and Procedures](#ic80f0ebf95aa44c186df0f5e7708d47a_118)\n\n[28](#ic80f0ebf95aa44c186df0f5e7708d47a_118)\n\n[Part II Other Information](#ic80f0ebf95aa44c186df0f5e7708d47a_121)\n\n[Item 1.](#ic80f0ebf95aa44c186df0f5e7708d47a_124)\n\n[Legal Proceedings](#ic80f0ebf95aa44c186df0f5e7708d47a_124)\n\n[30](#ic80f0ebf95aa44c186df0f5e7708d47a_124)\n\n[Item 1A.](#ic80f0ebf95aa44c186df0f5e7708d47a_127)\n\n[Risk Factors](#ic80f0ebf95aa44c186df0f5e7708d47a_127)\n\n[30](#ic80f0ebf95aa44c186df0f5e7708d47a_127)\n\n[Item 2.](#ic80f0ebf95aa44c186df0f5e7708d47a_130)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#ic80f0ebf95aa44c186df0f5e7708d47a_130)\n\n[30](#ic80f0ebf95aa44c186df0f5e7708d47a_130)\n\n[Item 3.](#ic80f0ebf95aa44c186df0f5e7708d47a_133)\n\n[Defaults Upon Senior Securities](#ic80f0ebf95aa44c186df0f5e7708d47a_133)\n\n[30](#ic80f0ebf95aa44c186df0f5e7708d47a_133)\n\n[Item 4.](#ic80f0ebf95aa44c186df0f5e7708d47a_136)\n\n[Mine Safety Disclosures](#ic80f0ebf95aa44c186df0f5e7708d47a_136)\n\n[30](#ic80f0ebf95aa44c186df0f5e7708d47a_136)\n\n[Item 5.](#ic80f0ebf95aa44c186df0f5e7708d47a_139)\n\n[Other Information](#ic80f0ebf95aa44c186df0f5e7708d47a_139)\n\n[30](#ic80f0ebf95aa44c186df0f5e7708d47a_139)\n\n[Item 6.](#ic80f0ebf95aa44c186df0f5e7708d47a_145)\n\n[Exhibits](#ic80f0ebf95aa44c186df0f5e7708d47a_145)\n\n[30](#ic80f0ebf95aa44c186df0f5e7708d47a_145)\n\n[Signatures](#ic80f0ebf95aa44c186df0f5e7708d47a_148)\n\n[32](#ic80f0ebf95aa44c186df0f5e7708d47a_148)\n\n[Table of Contents](#ic80f0ebf95aa44c186df0f5e7708d47a_7)\n\nSPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS\n\nThis Quarterly Report on Form 10-Q (“Quarterly Report”) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about us and our industry that involve substantial risks and uncertainties. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and Section 27A of the Securities Act of 1933, as amended (the “Securities Act”). All statements other than statements of historical facts contained in this Quarterly Report are forward-looking statements, including statements regarding our expectations regarding our revenue, restaurant operating costs, operating expenses, and other results of operations, as well as our key performance metrics; our liquidity and the sufficiency of our capital resources; our plans to open new restaurants and purchase and incorporate additional Infinite Kitchen units into our fleet, in particular following our sale of Spyce Food Co. (“Spyce”) and certain assets relating to the kitchen automation technology known as the “Infinite Kitchen” and other related kitchen automation technology (together with Spyce, the “Spyce Business”) to certain subsidiaries of Wonder Group, Inc. (“Wonder”), which will become our Infinite Kitchen supplier; our expectations regarding financial and macroeconomic trends and the impacts of ongoing military conflicts; the impacts of tariffs and our ability to mitigate such impacts; the impacts of seasonality or extreme weather events; our plans regarding innovation, including the use of Infinite Kitchen units, and the resulting potential benefit to our business; our ability to achieve or maintain profitability; and management’s plans, priorities, initiatives and strategies. In some cases, you can identify forward-looking statements because they contain words or phrases such as “anticipate,” “are confident that,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or the negative of these words or other similar terms or expressions.\n\nYou should not rely on forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this Quarterly Report primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition and operating results. The outcome of the events described in these forward-looking statements is subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control, that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this Quarterly Report may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. These risks and uncertainties include our ability to compete effectively, uncertainties regarding changes in economic conditions and geopolitical events, and the customer behavior trends they drive, our ability to open new restaurants, our ability to effectively identify and secure appropriate sites for new restaurants, our ability to expand into new markets and the risks such expansion presents, our ability to deploy and secure support for, in a timely and cost effective manner, Infinite Kitchen units following the transaction should Wonder not fulfill its support obligations, the impact of severe weather conditions or natural disasters on our restaurant sales and results of operations, the profitability of new restaurants we may open, and the impact of any such openings on sales at our existing restaurants, our ability to preserve the value of our brand, food safety and foodborne illness concerns, the effect on our business of increases in labor costs, labor shortages, and difficulties in hiring, training, rewarding and retaining a qualified workforce, the impact of pandemics or disease outbreaks, our ability to achieve profitability in the future, our ability to identify, complete, and integrate acquisitions, the effect on our business of governmental regulations, including but not limited to any future regulations that impose taxes, tariffs, or duties on food products, supplies or other items that we purchase, changes in employment laws, the effect on our business of expenses and potential management distraction associated with litigation, potential privacy and cybersecurity incidents, the effect on our business of restrictions and costs imposed by privacy, data protection, and data security laws, regulations, and industry standards, and our ability to enforce our rights in our intellectual property. Additional information regarding these and other risks and uncertainties that could cause actual results to differ materially from our expectations is included in Part I, Item 1A in our Annual Report on Form 10-K for the fiscal year ended December 28, 2025, and elsewhere in this Quarterly Report.\n\nNew risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Quarterly Report. The results, events, and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward-looking statements.\n\nIn addition, statements that contain “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based on information available to us as of the date of this Quarterly Report. While we believe that information provides a reasonable basis for these statements, that information may be limited or incomplete. Our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or\n\ni\n\n[Table of Contents](#ic80f0ebf95aa44c186df0f5e7708d47a_7)\n\nreview of, all relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements.\n\nThe forward-looking statements made in this Quarterly Report relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this Quarterly Report to reflect events or circumstances after the date of this Quarterly Report or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, or investments.\n\nii\n\n[Table of Contents](#ic80f0ebf95aa44c186df0f5e7708d47a_7)\n\nPART I FINANCIAL INFORMATION"}