SWEETGREEN, INC., 10-Q filed on 11/7/2025
Quarterly Report
v3.25.3
Cover - shares
 9 Months Ended
Sep. 28, 2025
Nov. 03, 2025
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 28, 2025  
Document Transition Report false  
Entity File Number 001-41069  
Entity Registrant Name SWEETGREEN, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 27-1159215  
Entity Address, Address Line One 3102 36th Street  
Entity Address, City or Town Los Angeles  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 90018  
City Area Code 323  
Local Phone Number 990-7040  
Title of 12(b) Security Class A Common Stock  
Trading Symbol SG  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001477815  
Amendment Flag false  
Current Fiscal Year End Date --12-28  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q3  
Class A common stock    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   106,479,983
Class B common stock    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   11,893,558
v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 28, 2025
Dec. 29, 2024
Current assets:    
Cash and cash equivalents $ 129,972 $ 214,789
Accounts receivable 6,805 5,034
Inventory 2,435 1,987
Prepaid expenses 7,030 7,844
Current portion of lease acquisition costs 93 93
Other current assets 3,348 4,790
Total current assets 149,683 234,537
Operating lease assets 286,871 257,496
Property and equipment, net 321,436 296,485
Goodwill 35,970 35,970
Intangible assets, net 21,594 24,040
Security deposits 1,348 1,419
Lease acquisition costs, net 264 333
Restricted cash 4,135 2,640
Other assets 3,469 3,838
Total assets 824,770 856,758
Current liabilities:    
Current portion of operating lease liabilities 41,671 41,773
Accounts payable 19,018 18,698
Accrued expenses 33,256 26,564
Accrued payroll 8,198 14,716
Gift cards and loyalty liability 7,864 4,413
Other current liabilities 5,942 9,663
Total current liabilities 115,949 115,827
Operating lease liabilities, net of current portion 314,737 288,941
Contingent consideration liability 0 5,311
Other non-current liabilities 157 173
Deferred income tax liabilities 631 361
Total liabilities 431,474 410,613
COMMITMENTS AND CONTINGENCIES (Note 14)
Stockholders’ equity:    
Common stock, $0.001 par value per share, 2,000,000,000 Class A shares authorized, 106,475,483 and 105,200,553 Class A shares issued and outstanding as of September 28, 2025 and December 29, 2024, respectively; 300,000,000 Class B shares authorized, 11,893,558 and 11,915,758 Class B shares issued and outstanding as of September 28, 2025 and December 29, 2024, respectively 118 117
Additional paid-in capital 1,352,879 1,321,386
Accumulated deficit (959,701) (875,358)
Total stockholders’ equity 393,296 446,145
Total liabilities and stockholders’ equity $ 824,770 $ 856,758
v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Sep. 28, 2025
Dec. 29, 2024
Common Class A    
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, issued (in shares) 106,475,483 105,200,553
Common stock, outstanding (in shares) 106,475,483 105,200,553
Common Class B    
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, authorized (in shares) 300,000,000 300,000,000
Common stock, issued (in shares) 11,893,558 11,915,758
Common stock, outstanding (in shares) 11,893,558 11,915,758
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 28, 2025
Sep. 29, 2024
Sep. 28, 2025
Sep. 29, 2024
Revenue $ 172,393 $ 173,431 $ 524,280 $ 515,922
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):        
Total restaurant operating costs 149,879 138,490 436,954 410,925
Operating expenses:        
General and administrative 30,900 36,777 103,742 112,844
Depreciation and amortization 18,304 16,905 53,406 50,069
Pre-opening costs 2,789 1,759 7,019 4,295
Impairment and closure costs 4,578 114 10,008 388
Loss on disposal of property and equipment 1,109 63 1,226 178
Restructuring charges 1,108 498 3,159 1,497
Total operating expenses 58,788 56,116 178,560 169,271
Loss from operations (36,274) (21,175) (91,234) (64,274)
Interest income (1,498) (2,754) (5,126) (8,690)
Interest expense 7 26 12 242
Other expense (income) 1,273 2,279 (2,047) 5,247
Net loss before income taxes (36,056) (20,726) (84,073) (61,073)
Income tax expense 90 90 300 270
Net loss $ (36,146) $ (20,816) $ (84,343) $ (61,343)
Earnings per share:        
Net loss per share basic (in dollars per share) $ (0.31) $ (0.18) $ (0.72) $ (0.54)
Net loss per share diluted (in dollars per share) $ (0.31) $ (0.18) $ (0.72) $ (0.54)
Weighted average shares used in computing net loss per share basic (in shares) 118,282,536 114,752,307 117,804,955 113,743,453
Weighted average shares used in computing net loss per share diluted (in shares) 118,282,536 114,752,307 117,804,955 113,743,453
Food, beverage, and packaging        
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):        
Total restaurant operating costs $ 52,894 $ 47,706 $ 148,330 $ 141,307
Labor and related expenses        
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):        
Total restaurant operating costs 50,157 47,520 149,272 142,954
Occupancy and related expenses        
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):        
Total restaurant operating costs 16,557 15,054 48,669 44,523
Other restaurant operating costs        
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):        
Total restaurant operating costs $ 30,271 $ 28,210 $ 90,683 $ 82,141
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ (DEFICIT) EQUITY - USD ($)
Total
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2023   112,639,146    
Beginning balance at Dec. 31, 2023 $ 482,597,000 $ 113,000 $ 1,267,469,000 $ (784,985,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net loss $ (61,343,000)     (61,343,000)
Exercise of stock options (in shares) 1,507,226 1,507,226    
Exercise of stock options $ 9,704,000 $ 3,000 9,701,000  
Issuance of common stock related to Spyce milestone achievement $ 2,132,000      
Issuance of common stock related to Spyce milestone achievement (in shares)   208,042    
Issuance of common stock related to restricted shares (in shares)   369,355    
Stock Issued During Period, Shares, Performance Stock Awards, Gross 900,000      
Shares repurchased for employee tax withholding (in shares)   (281)    
Shares repurchased for employee tax withholding $ 0   0  
Stock-based compensation expense 30,214,000   30,214,000  
Ending balance (in shares) at Sep. 29, 2024   115,623,488    
Ending balance at Sep. 29, 2024 463,304,000 $ 116,000 1,309,516,000 (846,328,000)
Beginning balance (in shares) at Jun. 30, 2024   114,139,532    
Beginning balance at Jun. 30, 2024 470,135,000 $ 114,000 1,295,533,000 (825,512,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net loss (20,816,000)     (20,816,000)
Exercise of stock options (in shares)   479,042    
Exercise of stock options $ 4,300,000 $ 2,000 4,298,000  
Issuance of common stock related to restricted shares (in shares)   105,009    
Stock Issued During Period, Shares, Performance Stock Awards, Gross 900,000      
Shares repurchased for employee tax withholding (in shares) (95)      
Shares repurchased for employee tax withholding $ 0      
Stock-based compensation expense 9,685,000   9,685,000  
Ending balance (in shares) at Sep. 29, 2024   115,623,488    
Ending balance at Sep. 29, 2024 463,304,000 $ 116,000 1,309,516,000 (846,328,000)
Beginning balance (in shares) at Dec. 29, 2024   117,116,311    
Beginning balance at Dec. 29, 2024 446,145,000 $ 117,000 1,321,386,000 (875,358,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net loss $ (84,343,000)     (84,343,000)
Exercise of stock options (in shares) 380,345 380,345    
Exercise of stock options $ 3,014,000 $ 1,000 3,013,000  
Issuance of common stock related to Spyce milestone achievement 4,709,000      
Issuance of common stock related to Spyce milestone achievement (in shares)   242,722    
Issuance of common stock related to restricted shares (in shares)   639,522    
Shares repurchased for employee tax withholding (in shares)   (9,859)    
Shares repurchased for employee tax withholding (261,000)   (261,000)  
Stock-based compensation expense 24,032,000   24,032,000  
Ending balance (in shares) at Sep. 28, 2025   118,369,041    
Ending balance at Sep. 28, 2025 393,296,000 $ 118,000 1,352,879,000 (959,701,000)
Beginning balance (in shares) at Jun. 29, 2025   118,197,505    
Beginning balance at Jun. 29, 2025 423,298,000 $ 118,000 1,346,735,000 (923,555,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net loss (36,146,000)     (36,146,000)
Exercise of stock options (in shares)   56,976    
Exercise of stock options 335,000   335,000  
Issuance of common stock related to restricted shares (in shares)   114,674    
Shares repurchased for employee tax withholding (in shares)   (114)    
Shares repurchased for employee tax withholding (2,000)   (2,000)  
Stock-based compensation expense 5,811,000   5,811,000  
Ending balance (in shares) at Sep. 28, 2025   118,369,041    
Ending balance at Sep. 28, 2025 $ 393,296,000 $ 118,000 $ 1,352,879,000 $ (959,701,000)
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 28, 2025
Sep. 29, 2024
Cash flows from operating activities:    
Net loss $ (84,343) $ (61,343)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 53,406 50,069
Amortization of lease acquisition 69 69
Amortization of loan origination fees 0 58
Amortization of cloud computing arrangements 752 682
Non-cash operating lease cost 26,098 23,312
Loss on fixed asset disposal 1,226 178
Stock-based compensation 24,032 30,214
Non-cash impairment and closure costs 9,754 73
Non-cash restructuring charges 636 525
Deferred income tax expense 270 270
Change in fair value of contingent consideration liability (2,066) 5,214
Change in fair value of contingent consideration liability (2,290) 0
Changes in operating assets and liabilities:    
Accounts receivable (1,771) (3,639)
Inventory (448) (34)
Prepaid expenses and other assets 1,873 1,408
Operating lease liabilities (32,175) (16,854)
Accounts payable 943 (421)
Accrued payroll and benefits (6,518) 833
Accrued expenses and other current liabilities 3,074 5,846
Gift card and loyalty liability 3,451 875
Other non-current liabilities (15) (64)
Net cash (used in) provided by operating activities (4,042) 37,271
Cash flows from investing activities:    
Purchase of property and equipment (76,149) (57,739)
Purchase of intangible assets (5,955) (5,458)
Security and landlord deposits 71 (2)
Net cash used in investing activities (82,033) (63,199)
Cash flows from financing activities:    
Proceeds from stock option exercise 3,014 9,704
Payment of contingent consideration 0 (3,868)
Payment associated to shares repurchased for tax withholding (261) 0
Net cash provided by financing activities 2,753 5,836
Net decrease in cash and cash equivalents and restricted cash (83,322) (20,092)
Cash and cash equivalents and restricted cash—beginning of year 217,429 257,355
Cash and cash equivalents and restricted cash—end of period 134,107 237,263
Cash paid for interest 11 184
Supplemental disclosure of cash flow information    
Purchase of property and equipment accrued in accounts payable and accrued expenses 12,819 9,387
Non-cash issuance of common stock associated with Spyce milestone achievement $ 0 $ 2,132
v3.25.3
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 9 Months Ended
Sep. 28, 2025
Accounting Policies [Abstract]  
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Sweetgreen, Inc., a Delaware corporation, together with its wholly owned subsidiaries (the “Company”), is a mission-driven, next generation restaurant and lifestyle brand that serves healthy food at scale. The Company’s bold vision is to be as ubiquitous as traditional fast food, but with the transparency and quality that consumers increasingly expect. As of September 28, 2025, the Company owned and operated 266 restaurants in 23 states and Washington, D.C. During the thirteen and thirty-nine weeks ended September 28, 2025, the Company had 6 and 20 Net New Restaurant Openings, respectively.
The Company was founded in November 2006 and incorporated in the state of Delaware in October 2009 and currently is headquartered in Los Angeles, California. The Company’s operations are conducted as one operating segment and one reportable segment. Additional details on the nature of the Company’s business and their reportable operating segment is included in Note 15, “Reportable Segment”.

The Company has prepared the accompanying unaudited condensed consolidated financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring adjustments necessary for a fair presentation of the Company’s financial position and results of operations. Interim results of operations are not necessarily indicative of the results that may be achieved for the full year. The financial statements and related notes do not include all information and footnotes required by GAAP for annual reports and should be read in conjunction with the consolidated financial statements for the fiscal year ended December 29, 2024.
Principles of Consolidation—The accompanying condensed consolidated financial statements include the accounts of the Company. All intercompany balances and transactions have been eliminated in consolidation.
Fiscal Year—The Company’s fiscal year is a 52- or 53-week period that ends on the Sunday closest to the last day of December. Fiscal year 2025 is a 52-week period that ends December 28, 2025 and fiscal year 2024 was a 52-week period that ended December 29, 2024. In a 52-week fiscal year, each quarter includes 13 weeks of operations. In a 53-week fiscal year, the first, second and third quarters each include 13 weeks of operations, and the fourth quarter includes 14 weeks of operations.
Management’s Use of Estimates—The condensed consolidated financial statements have been prepared by the Company in accordance with GAAP and the rules and regulations of the SEC. The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant accounting estimates made by the Company include the income tax valuation allowance, impairment of long-lived assets and right-of-use assets, legal liabilities, valuation of the contingent consideration liability, lease accounting matters, and stock-based compensation. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from those estimates.
Cash and Cash Equivalents—The Company considers all highly liquid investments with a maturity of three months or less at the time of purchase to be cash equivalents. Amounts receivable from credit card processors are converted to cash shortly after the related sales transaction and are considered to be cash equivalents because they are both short-term and highly liquid in nature. Amounts receivable from sales transactions as of September 28, 2025 and December 29, 2024, were $5.0 million and $2.3 million, respectively.
Restricted Cash—The Company’s restricted cash balance relates to certificates of deposit that are collateral for letters of credit to lease agreements entered into by the Company and letters of credit associated with the Company’s workers’ compensation insurance policy.
The reconciliation of cash and cash equivalents and restricted cash presented in the Company’s accompanying condensed consolidated balance sheets to the total amount shown in its condensed consolidated statements of cash flows is as follows:
(dollar amounts in thousands)
As of September 28,
2025		As of December 29,
2024
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents$129,972 $214,789 
Restricted cash, noncurrent
4,1352,640 
Total cash, cash equivalents and restricted cash shown on statement of cash flows$134,107$217,429

Approximately $4.1 million of the restricted cash balance as of September 28, 2025 was associated with letters of credit required by the Company’s workers’ compensation insurance policy. The remaining balance was associated with letters of credit from lease agreements.

Recently Issued Accounting Pronouncements Not Yet Adopted— In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The ASU includes amendments requiring enhanced income tax disclosures, primarily related to standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. The guidance is effective for fiscal years beginning after December 15, 2024, with early adoption permitted, and should be applied either prospectively or retrospectively. The Company is currently evaluating the impact of adopting this ASU on its disclosures.

In November 2024, the FASB issued ASU No. 2024-03, "Disaggregation of Income Statement Expenses (Subtopic 220-40)." The ASU requires public entities to disaggregate, in a tabular presentation, certain income statement expenses into different categories, such as purchases of inventory, employee compensation, depreciation, and intangible asset amortization. The guidance is effective for fiscal years beginning after December 15, 2026, with early adoption permitted, and may be applied retrospectively. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which modernizes the accounting for internal-use software costs by removing all references to prescriptive and sequential software development stages. The new standard requires entities to consider whether significant development uncertainty has been resolved before starting to capitalize software costs and aligns disclosure requirements with ASC 360, Property, Plant, and Equipment. The guidance is effective for annual and interim reporting periods beginning after December 15, 2027, and may be applied prospectively, retrospectively, or using a modified transition method, with early adoption permitted. The Company is currently evaluating the impacts of adopting this ASU on its consolidated financial statements and related disclosures.

The Company reviewed all other recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact to the condensed consolidated financial statements.
v3.25.3
REVENUE RECOGNITION
 9 Months Ended
Sep. 28, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
The following table presents the Company’s revenue for the thirteen and thirty-nine weeks ended September 28, 2025 and September 29, 2024 disaggregated by significant revenue channel:
Thirteen weeks endedThirty-nine weeks ended
(dollar amounts in thousands)
September 28,
2025		 September 29,
2024		September 28,
2025		 September 29,
2024
Owned Digital Channels$60,805 $50,561 $175,842 $158,727 
In-Store Channel (Non-Digital component)
65,923 77,861 205,452 224,540 
Marketplace Channel45,665 45,009 142,986 132,655 
Total Revenue$172,393$173,431$524,280$515,922
Gift Cards and SG Rewards

During the second quarter of fiscal 2025, the Company launched its new SG Rewards loyalty program nationwide. SG Rewards is the Company’s loyalty program through which customers can earn 10 loyalty points for every $1 spent on eligible purchases made through the mobile app or by using digital scan-to-earn and scan-to-redeem in-store. These loyalty points can be redeemed for free or discounted menu items in future transactions. All customers with a digital account are automatically enrolled in this free program. Points expire 180 days after they are issued to a customer’s account.

The Company records a liability and a corresponding reduction in revenue in periods when loyalty program rewards are earned by members. The Company recognizes revenue and a corresponding reduction to the liability in periods when loyalty program rewards are redeemed by members. The Company defers revenue based on the relative estimated standalone selling price of the loyalty points, which is estimated as the value of the loyalty reward, net of loyalty related purchases not expected to be redeemed. The Company estimates loyalty purchases not expected to be redeemed based on industry data and historical customer trends.

Gift card liability and loyalty liability within the accompanying condensed consolidated balance sheets was as follows:
(dollar amounts in thousands)
As of September 28,
2025		As of December 29,
2024
Gift Card Liability$5,324$4,385
Loyalty Liability
$2,540$—
Revenue recognized from the redemption of gift cards and loyalty liability that was included in gift card and loyalty liability at the beginning of the year was as follows:
Thirteen weeks endedThirty-nine weeks ended
(dollar amounts in thousands)
September 28,
2025		 September 29,
2024		September 28,
2025		 September 29,
2024
Revenue recognized from gift card liability balance at the beginning of the year$73$64$623$700
Revenue recognized from loyalty liability balance at the beginning of the year
$—$—$—$—
v3.25.3
FAIR VALUE
 9 Months Ended
Sep. 28, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE FAIR VALUE
The following tables present information about the Company’s financial liabilities measured at fair value on a recurring basis:
Fair Value Measurements as of September 28, 2025Fair Value Measurements as of December 29, 2024
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
(dollar amounts in thousands)
Contingent consideration5,908 — — 5,908 14,974 — — 14,974 

The fair value of the contingent consideration was determined based on significant inputs not observable in the market.

In connection with the Company’s acquisition of Spyce on September 7, 2021, the former equity holders of Spyce may receive up to $20 million (in the form of up to 714,285 additional shares of Class A common stock, calculated based on the initial offering price of the Company’s Class A common stock of $28.00 per share sold in the Company’s initial public offering (“IPO”) (the “Reference Price”)), contingent on the achievement of certain performance milestones between the closing date of the acquisition and June 30, 2026.
Additionally, as of the date of the achievement of any of the three milestones, if the Volume-Weighted Average Price of the Company’s Class A common stock as of such milestone achievement date (“VWAP Price”) is less than the Reference Price, then the Company shall pay to each former equity holder of Spyce, in respect of each share of Class A common stock issued to such holder upon the achievement of such milestone, an amount in cash equal to the delta between the Reference Price and the VWAP Price. The contingent consideration payable upon the achievement of the three milestones, was valued using the Monte Carlo method. The analysis considered, among other items, the equity value, the contractual terms of the Spyce merger agreement, potential liquidity event scenarios (prior to the IPO), the Company’s credit-adjusted discount rate, equity volatility, risk-free rate, and the probability that milestone targets required for issuance of shares under the contingent consideration will be achieved. During the fourth quarter of fiscal 2023, the first milestone was achieved, which resulted in former equity holders of Spyce being eligible to receive $6.0 million, which was paid during the thirty-nine weeks ended September 29, 2024. Of this $6.0 million, based on a VWAP Price of $10.20, $2.1 million was issued in the form of Class A common stock, and $3.9 million was paid in cash to the former Spyce equity holders. During the second quarter of fiscal 2025, the second milestone was achieved, which resulted in the former equity holders of Spyce being eligible to receive $7.0 million and which was paid during the thirty-nine weeks ended September 28, 2025. Of this $7.0 million, based on a VWAP Price of $19.40, $4.7 million was issued in the form of Class A common stock, and $2.3 million was paid in cash to the former Spyce Equity holders.

The initial fair value of the contingent consideration at the acquisition date was $16.4 million. Since the acquisition date, the cumulative payments related to the contingent consideration were $23.4 million as of September 28, 2025, of which $6.8 million was issued in the form of Class A common stock and $16.6 million was issued in cash. Payments up to the initial fair value of the contingent consideration were included within financing activities within the condensed consolidated statements of cash flows if made in cash, or within non-cash financing activities if made in shares. The second milestone payment, as detailed above, increased the cumulative payments related to the contingent consideration liability above the initial fair value; as such, the cash component of the second milestone payment was included within operating activities within the condensed consolidated statement of cash flows during the thirty-nine weeks ended September 28, 2025. Any future cash payments would be recognized within operating activities in the condensed consolidated statements of cash flows.

The fair value of the liability as of September 28, 2025 was $5.9 million, which was included in other current liabilities within the condensed consolidated balance sheets, as we expect to make the third and final milestone payment within one year from September 28, 2025. The contingent consideration as of December 29, 2024 was $15.0 million of which $9.7 million was included in other current liabilities and $5.3 million was included in contingent consideration liability within the consolidated balance sheets.

The following table provides a roll forward of the aggregate fair values of the Company’s contingent consideration, for which fair value is determined using Level 3 inputs.
(dollar amounts in thousands)
Contingent Consideration
Balance—December 29, 2024$14,974 
Milestone payment
(7,000)
Change in fair value
(2,066)
Balance—September 28, 2025$5,908 
The following non-financial instruments were measured at fair value, on a nonrecurring basis, as of and for the thirteen and thirty-nine weeks ended September 28, 2025 and September 29, 2024, reflecting certain property and equipment and operating leases for which an impairment loss was recognized during the corresponding periods within impairment and closure costs within the condensed consolidated statements of operations. For the thirteen weeks ended September 28, 2025, the Company recorded a non-cash impairment charge of $4.3 million associated with four store locations, which was recorded in impairment and closure costs within the condensed consolidated statements of operations. This entire $4.3 million impairment charge was related to property and equipment. For the thirty-nine weeks ended September 28, 2025, the Company recorded non-cash impairment charges of $9.6 million associated with nine store locations, two of which were subsequently closed during July 2025, which was recorded in impairment and closure costs within
the condensed consolidated statements of operations. Of the $9.6 million total non-cash impairment, $8.0 million was related to property and equipment, and $1.6 million was related to operating lease assets. During the thirteen and thirty-nine weeks ended September 29, 2024, the Company did not record any impairment charges.

Fair Value Measurements as of Measurement DateThirteen weeks ended September 28, 2025Thirty-nine weeks ended September 28, 2025
TotalLevel 1Level 2Level 3Impairment Losses
(dollar amounts in thousands)
Property and equipment, net
— — — — 4,311 7,996 
Operating lease assets(1)
2,697 — — 2,697 — 1,594 

(1) Pertains to certain operating lease assets for which an impairment loss of $1.6 million was recognized during the thirteen weeks ended June 28, 2025. To determine the fair value, the Company estimated the market rental values through the end of each lease and discounted such cash flows using a property specific discount rate of approximately 7.5% - 9.5%.

The fair value of these assets represents a Level 3 fair value measurement. Unobservable inputs include the discount rate, projected restaurant revenues and expenses, and sublease income if the Company is closing the restaurant.
v3.25.3
PROPERTY AND EQUIPMENT
 9 Months Ended
Sep. 28, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT, NET
Property and equipment are stated at cost. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized using the straight-line method over the shorter of the lease term or estimated useful life. A summary of property and equipment is as follows:
(dollar amounts in thousands)
As of September 28,
2025		As of December 29,
2024
Leasehold improvements
$326,919$303,035
Kitchen equipment
126,840107,475
Computers and other equipment
48,03644,295
Furniture and fixtures
47,15343,045
Assets not yet placed in service
53,70838,047
Total property and equipment
602,656535,897
Less: accumulated depreciation
(281,220)(239,412)
Property and equipment, net
$321,436$296,485
Depreciation expense for the thirteen weeks ended September 28, 2025 and September 29, 2024 was $15.5 million and $14.1 million, respectively.
Depreciation expense for the thirty-nine weeks ended September 28, 2025 and September 29, 2024 was $45.2 million and $41.8 million, respectively.
As of September 28, 2025, the Company had 23 facilities under construction due to open during fiscal years 2025 and 2026. As of December 29, 2024, the Company had 9 facilities under construction, 8 of which opened in fiscal year 2025 to date. Depreciation commences after a store opens and the related assets are placed in service.
For the thirteen and thirty-nine weeks ended September 28, 2025, the Company recorded non-cash impairment charges of $4.3 million and $8.0 million, respectively, related to property and equipment within impairment and closure costs, within the condensed consolidated statements of operations. The Company did not record any impairment charges for the thirteen and thirty-nine weeks ended September 29, 2024.
v3.25.3
GOODWILL AND INTANGIBLE ASSETS, NET
 9 Months Ended
Sep. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET GOODWILL AND INTANGIBLE ASSETS, NET
During the thirty-nine weeks ended September 28, 2025, there were no changes in the carrying amount of goodwill of $36.0 million.
The following table presents the Company’s intangible assets, net balances:
(dollar amounts in thousands)
As of September 28,
2025		As of December 29,
2024
Internal use software$51,709 $45,933 
Developed technology20,050 20,050 
Total intangible assets
71,759 65,983 
Accumulated amortization(50,165)(41,943)
Intangible assets, net
$21,594$24,040
Developed technology intangible assets were recognized in conjunction with the Company’s acquisition of Spyce on September 7, 2021. The estimated useful life of developed technology is five years.
Amortization expense for intangible assets was $2.8 million for both the thirteen weeks ended September 28, 2025 and September 29, 2024.
Amortization expense for intangible assets was $8.2 million and $8.3 million for the thirty-nine weeks ended September 28, 2025 and September 29, 2024, respectively.
Estimated future amortization of internal use software and developed technology is as follows:
(dollar amounts in thousands)

2025$2,738 
20269,589 
20277,244 
20282,023 
Total$21,594
v3.25.3
ACCRUED EXPENSES
 9 Months Ended
Sep. 28, 2025
Payables and Accruals [Abstract]  
ACCRUED EXPENSES ACCRUED EXPENSES
Accrued expenses consist of the following:
(dollar amounts in thousands)
As of September 28,
2025		As of December 29,
2024
Fixed asset accrual9,634 5,983 
Accrued general and sales tax$6,416 $4,625 
Accrued settlements and legal fees1,369 3,529 
Rent deferrals and accrued rent
1,312 1,220 
Accrued delivery fee1,085 970 
Other accrued expenses13,440 10,237 
Total accrued expenses$33,256 $26,564 
v3.25.3
DEBT
 9 Months Ended
Sep. 28, 2025
Debt Disclosure [Abstract]  
DEBT DEBTCredit Facility—During fiscal year 2024, the Company was party to a First Amended and Restated Revolving Credit, Delayed Draw Term Loan and Security Agreement (as amended, the “Credit Facility”) with EagleBank. The Credit Facility allowed the Company to borrow up to $45.0 million in the aggregate principal amount under a revolving facility, including the issuance of letters of credit up to $3.5 million. The Company did not renew the Credit Facility in 2024 and it expired pursuant to its terms on December 13, 2024.
v3.25.3
LEASES
 9 Months Ended
Sep. 28, 2025
Leases [Abstract]  
LEASES LEASES
The Company leases restaurants and corporate office space under various non-cancelable lease agreements that expire on various dates through 2038. Lease terms for restaurants generally include a base term of 10 years, with options to extend these leases for additional periods of 5 to 15 years.

The components of lease cost for the thirteen and thirty-nine weeks ended September 28, 2025 and September 29, 2024 were as follows:

Thirteen weeks endedThirty-nine weeks ended
(dollar amounts in thousands)ClassificationSeptember 28,
2025		September 29,
2024		September 28,
2025		September 29,
2024
Operating lease costOccupancy and related expense
General and administrative expense
Pre-opening costs		$14,840 $13,092 $42,870 $38,240 
Variable lease costOccupancy and related expense
General and administrative expense		3,454 3,204 10,207 9,480 
Short term lease costOccupancy and related expense
General and administrative expense		148 232 362 462 
Total lease cost$18,442 $16,528 $53,439 $48,182 

As of September 28, 2025, future minimum lease payments for operating leases consisted of the following:

(dollar amounts in thousands)
2025$9,840 
202669,138 
202767,237 
202861,483 
202959,752 
Thereafter
197,188 
Total
$464,638 
Less: imputed interest108,230 
Total lease liabilities$356,408 

As of September 28, 2025 and December 29, 2024 the Company had additional operating lease commitments of $13.9 million and $27.5 million, respectively, for non-cancelable leases that have not yet commenced, which the Company anticipates will commence in the near future. The nature of such lease commitments is consistent with the nature of the leases that the Company has executed thus far.

A summary of lease terms and discount rates for operating leases as of September 28, 2025 and December 29, 2024 is as follows:

September 28,
2025		December 29,
2024
Weighted average remaining lease term (years):
Operating Leases7.297.32
Weighted average discount rate:
Operating Leases6.86 %6.75 %

During the thirty-nine weeks ended September 28, 2025, the Company recorded a non-cash impairment charge related to operating lease assets of $1.6 million, which is recorded in impairment and closure costs within the condensed consolidated financial statements.

Supplemental cash flow information related to leases for the thirty-nine weeks ended September 28, 2025 and September 29, 2024:
September 28,
2025		September 29,
2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net of lease incentives$48,735 $32,138 
Right of use assets obtained in exchange for lease obligations:
Operating leases$57,869 $28,455 
Derecognition of operating lease assets due to termination or impairment
$1,594 $— 
v3.25.3
COMMON STOCK
 9 Months Ended
Sep. 28, 2025
Equity [Abstract]  
COMMON STOCK COMMON STOCK
As of September 28, 2025 and December 29, 2024, the Company had reserved shares of common stock for issuance in connection with the following:
As of September 28,
2025		As of December 29,
2024
Options outstanding under the 2009 Stock Plan, 2019 Equity Incentive Plan, Spyce Food Co. 2016 Stock Option Plan and Grant Plan and 2021 Equity Incentive Plan14,035,191 13,169,869 
Shares reserved for achievement of Spyce milestones250,000 500,000 
Shares reserved for employee stock purchase plan4,111,331 4,111,331 
RSUs and PSUs outstanding under the 2019 Equity Incentive Plan and 2021 Equity Incentive Plan5,063,811 5,410,024 
Shares available for future issuance under the 2021 Equity Incentive Plan6,993,044 8,516,216 
Total reserved shares of common stock30,453,377 31,707,440 
v3.25.3
STOCK - BASED COMPENSATION
 9 Months Ended
Sep. 28, 2025
Share-Based Payment Arrangement [Abstract]  
STOCK - BASED COMPENSATION STOCK-BASED COMPENSATION
2021 Equity Incentive Plan

During the fiscal year ended December 26, 2021, the Company adopted the 2021 Equity Incentive Plan (the “2021 Plan”), which allows for issuance of stock options (including incentive stock options and non-qualified stock options), restricted stock units (“RSUs”), including performance-based awards, and other types of awards. The maximum number of shares of common stock that may be issued under the 2021 Plan is 35,166,753, which is the sum of (i) 11,500,000 new shares, plus (ii) an additional number of shares consisting of (a) shares that were available for the issuance of awards under any prior equity incentive plans in place (which shall include the Prior Stock Plans (as defined below)) prior to the time the Company’s 2021 Plan became effective and (b) any shares of the Company’s common stock subject to outstanding stock options or other stock awards granted under the Prior Stock Plans that on or after the Company’s 2021 Plan became effective, terminate or expire prior to the exercise or settlement; are not issued because the award is settled in cash; are forfeited because of the failure to vest; or are reacquired or withheld (or not issued) to satisfy a tax withholding obligation or the purchase or exercise price. Options granted during, or prior to, the thirteen and thirty-nine weeks ended September 28, 2025 generally have vesting terms between twelve months and four years and have a contractual life of 10 years.

The Company issues shares of Class A common stock upon the vesting and settlement of RSUs and upon the exercises of stock options under the 2021 Plan. The 2021 Plan is administered by the Company’s board of directors (the “Board”), or a duly authorized committee of the Board. Options granted to members of the Board generally vest immediately.

2009 Stock Plan and 2019 Equity Incentive Plan

Prior to the Company’s IPO, the Company granted stock options, RSUs and performance-based restricted stock awards (“PSUs”) to its employees, as well as non-employees (including directors and others who provide substantial services to the Company) under the Company’s 2009 Stock Plan and 2019 Equity Incentive Plan (collectively, the “Prior Stock Plans”). Under the Prior Stock Plans, the Company was permitted to grant incentive stock options to the Company’s employees and non-qualified stock options to the Company’s employees and non-employees, as well as stock appreciation rights, restricted stock awards,
RSUs (including PSUs), and other forms of stock awards to the Company’s employees, directors and consultants and any of the Company’s affiliated employees and consultants.

Options granted in the fiscal year ended December 26, 2021 and prior generally have vesting terms between one year and four years and have a contractual life of 10 years. No further stock awards will be granted under the Prior Stock Plans now that the 2021 Plan is effective; however, awards outstanding under the Prior Stock Plans continue to be governed by their existing terms.

Spyce Acquisition

In conjunction with the Company’s acquisition of Spyce in September 2021, the Company issued shares of restricted stock that were issued to certain Spyce employees. As the value is fixed, the grant date fair value of these shares represents the fair value of the shares on the acquisition date.

2021 Employee Stock Purchase Plan

In conjunction with the IPO, the Board adopted, and the Company’s stockholders approved, the Company’s 2021 employee stock purchase plan (the “ESPP”). The Company’s ESPP authorizes the issuance of 3,000,000 shares of common stock under purchase rights granted to the Company’s employees or to the employees of any of its designated affiliates. The number of shares of the Company’s common stock reserved for issuance will automatically increase on January 1 of each year for a period of 10 years, which began on January 1, 2023, by the lesser of (i) 1% of the total number of shares of the Company’s common stock outstanding on December 31 of the immediately preceding year; and (ii) 4,300,000 shares, except before the date of any such increase, the Board may determine that such increase will be less than the amount set forth in clauses (i) and (ii). On January 1, 2023, the ESPP authorized shares to be increased by 1,111,331 to 4,111,331 in accordance with the above. The Board delegated the authority to manage the ESPP to the Compensation Committee of the Board, which determined that there would be no increase in the share reserve under the ESPP in 2024 or 2025.

As of September 28, 2025, there had been no offering period or purchase period under the ESPP, and no such period will begin unless and until determined by the administrator.

Stock Options

The Company grants stock options to its employees, as well as nonemployees (including directors and others who provide substantial services to the Company) under the 2021 Plan.

The following table summarizes the Company’s stock option activity for the thirty-nine weeks ended September 28, 2025 and September 29, 2024:
(dollar amounts in thousands except per share amounts)
Number of
Shares
Weighted
Average
Exercise
Price Per
Share
Weighted-Average
Remaining
Contractual Term
(In Years)
Aggregate
Intrinsic
Value
Balance—December 29, 202413,169,869$9.88 6.04$297,037 
Options granted2,141,34718.23 
Options exercised(380,345)8.04 
Options forfeited(834,943)18.77 
Options expired (60,737)18.03 
Balance—September 28, 202514,035,191$10.65 5.65$18,446 
Exercisable—September 28, 202510,704,215$8.54 4.61$18,339 
Vested and expected to vest—September 28, 202514,035,191$10.65 5.65$18,446 
(dollar amounts in thousands except per share amounts)
Number of
Shares
Weighted
Average
Exercise
Price Per
Share
Weighted-Average
Remaining
Contractual Term
(In Years)
Aggregate
Intrinsic
Value
Balance—December 31, 202313,219,388$7.77 5.97$53,758 
Options granted2,256,18319.02 
Options exercised(1,507,226)6.44 
Options forfeited(316,223)14.81 
Options expired(44,574)18.16 
Balance—September 29, 202413,607,548$9.59 6.16$358,760 
Exercisable—September 29, 202410,041,326$7.46 5.20$286,048 
Vested and expected to vest—September 29, 202413,607,548$9.59 6.16$358,760 
The weighted-average fair value of options granted during the thirty-nine weeks ended September 28, 2025 and September 29, 2024 was $9.23 and $9.32, respectively.
The fair value of each option granted has been estimated as of the date of the grant using the Black-Scholes option-pricing model. The Company has elected to account for forfeitures as they occur.

During thirteen weeks ended September 28, 2025, the Company approved a modification to certain stock option awards in connection with the transition of a former executive from an employee to a non-employee consultant. The modification provided for (i) accelerated vesting of unvested awards, (ii) continued vesting of certain awards during the consulting period, and (iii) an extension of the post-termination exercise period, pertaining to a total of 924,097 options. The incremental expense related to each modified option has been estimated as of the modification date using the Black-Scholes option-pricing model and will be recognized as additional stock-based compensation expense over the remaining requisite service period. For the thirteen weeks ended September 28, 2025, the incremental expense was immaterial, and thus, no additional expense was recorded during the current quarter and the impact of the modification is not reflected in the tables presented above. The forfeiture of the old awards and concurrent grant of new awards is not reflected in the table above. These options have a weighted-average exercise price of $10.39. The Company expects to recognize the remaining incremental stock option expense of $1.8 million related to this modification across the six month consulting period.

As of September 28, 2025, there was $26.9 million in unrecognized compensation expense related to unvested stock-based compensation arrangements and is expected to be recognized over a weighted average period of 2.12 years.

Restricted Stock Units and Performance Stock Units

Restricted stock units

The following table summarizes the Company’s RSU activity for the thirty-nine weeks ended September 28, 2025 and September 29, 2024:

(dollar amounts in thousands except per share amounts)
Number of SharesWeighted-Average Grant Date Fair Value
Balance—December 29, 2024
910,024 $17.72 
   Granted458,281 15.74 
   Released(639,522)19.21 
   Forfeited(164,972)17.22 
Balance—September 28, 2025
563,811 14.57 
(dollar amounts in thousands except per share amounts)
Number of SharesWeighted-Average Grant Date Fair Value
Balance—December 31, 2023
951,517 $17.41 
   Granted518,177 20.36 
   Released(369,355)20.63 
   Forfeited(84,042)18.46 
Balance—September 29, 2024
1,016,297 $17.67 




During thirteen weeks ended September 28, 2025, the Company approved a modification to certain restricted stock units awards in connection with the transition of a former executive from an employee to a non-employee consultant. The modification provided for (i) continued vesting of certain awards during the consulting period and (ii) immediate vesting of any remaining unvested restricted stock units at the completion of the consulting period. The fair value of each modified RSU has been estimated using the current stock price as of the modification date. The incremental expense will be recognized as additional stock-based compensation expense over the remaining requisite service period. For the thirteen weeks ended September 28, 2025, the incremental expense related to RSUs was immaterial, and thus, no additional expense was recorded during the current quarter. Accordingly, the impact of the modification is not reflected in the tables presented above. The Company expects to recognize the remaining incremental restricted stock unit expense of $0.1 million related to this modification across the six month consulting period.

The fair value of shares released as of the vesting date during the thirty-nine weeks ended September 28, 2025 was $12.3 million. As of September 28, 2025, unrecognized compensation expense related to RSUs was $7.5 million and is expected to be recognized over a weighted average period of 2.12 years.

Performance stock units

As of December 29, 2024, there were 4,500,000 performance stock units outstanding with a weighted-average grant date fair value of $15.62. There was no PSU activity during the thirty-nine weeks ended September 28, 2025.

In October 2021, the Company granted 2,100,000 PSUs to each founder (the “founder PSUs”) for a total of 6,300,000 PSUs, under the 2019 Equity Incentive Plan. The founder PSUs vest upon the satisfaction of a service condition and the achievement of certain stock price goals. As of September 28, 2025, unrecognized compensation expense related to the founder PSUs was $1.9 million and is expected to be recognized over a weighted average period of 0.32 years.

Subsequent to the Company’s IPO, the Company issued 321,428 PSUs to the Spyce founders (“Spyce PSUs”) based on three separate performance-based milestone targets. During the thirty-nine weeks ended September 29, 2024, the Company modified the number of shares underlying these grants and the vesting terms to remove the performance-based component, resulting in the total number of shares decreasing to 85,395, all of which vested on March 15, 2025. The expense related to these RSUs is included within the RSU section above.

The following table summarizes the Company’s PSU activity for the thirty-nine weeks ended September 29, 2024:

(dollar amounts in thousands except per share amounts)
Number of SharesWeighted-Average Grant Date Fair Value
Balance—December 31, 20236,621,428 $15.56 
   Granted— — 
   Released(900,000)18.55 
   Forfeited(321,428)— 
Balance—September 29, 20245,400,000 $15.99 
A summary of stock-based compensation expense recognized during the thirteen and thirty-nine weeks ended September 28, 2025 and September 29, 2024 is as follows:

Thirteen weeks endedThirty-nine weeks ended
(dollar amounts in thousands)September 28,
2025		September 29,
2024		September 28,
2025		September 29,
2024
Stock-options$2,790 $3,107 $8,601 $8,401 
Restricted stock units1,040 1,909 7,591 6,645 
Performance stock units1,981 4,669 7,840 15,168 
Total stock-based compensation$5,811 $9,685 $24,032 $30,214 
v3.25.3
INCOME TAXES
 9 Months Ended
Sep. 28, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company’s entire pretax loss for the thirteen and thirty-nine weeks ended September 28, 2025 and September 29, 2024 was from its U.S domestic operations. The Company’s tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items arising during interim periods. For both the thirteen and thirty-nine weeks ended September 28, 2025 and the thirteen and thirty-nine weeks ended September 29, 2024, there were no significant discrete items recorded, and the Company recorded $0.1 million and $0.3 million in income tax expense, respectively.

On March 27, 2020, President Trump signed into law the CARES Act (as defined below). Intended to provide economic relief to those impacted by the COVID-19 pandemic, the CARES Act includes provisions, among others, to enhance business’ liquidity and provide for refundable employee retention tax credits (“ERC”), which could be used to offset payroll tax liabilities. On March 11, 2021, President Biden signed the American Rescue Plan Act (“ARPA”). The ARPA includes several provisions, such as measures that extend and expand the ERC, previously enacted under the CARES Act, through September 30, 2021. As there is no authoritative guidance under U.S. GAAP on accounting for government assistance to for-profit business entities, the Company accounts for the ERC by analogy to International Accounting Standard (“IAS”) 20, Accounting for Government Grants and Disclosure of Government Assistance. As of September 28, 2025, the Company has received $5.0 million in cash payments, reducing the ERC receivable within other current assets on the condensed consolidated balance sheets to $2.1 million.
v3.25.3
NET LOSS PER SHARE
 9 Months Ended
Sep. 28, 2025
Earnings Per Share [Abstract]  
NET LOSS PER SHARE NET LOSS PER SHARE
During the thirteen and thirty-nine weeks ended September 28, 2025 and September 29, 2024, the rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock were identical, except with respect to voting. As the liquidation and dividend rights were identical, the undistributed earnings were allocated on a proportionate basis and the resulting net loss per share attributable to common stockholders were, therefore, the same for both Class A and Class B common stock on an individual or combined basis.

The following table sets forth the computation of net loss per common share:
Thirteen weeks endedThirty-nine weeks ended
September 28,
2025		September 29,
2024		September 28,
2025		September 29,
2024
(dollar amounts in thousands)
Numerator:
Net loss$(36,146)$(20,816)$(84,343)$(61,343)
Denominator:
Weighted-average common shares outstanding—basic and diluted118,282,536 114,752,307 117,804,955 113,743,453 
Earnings per share—basic and diluted$(0.31)$(0.18)$(0.72)$(0.54)

The Company’s potentially dilutive securities, which include time-based vesting restricted stock units, performance stock units, contingently issuable stock and options to purchase common stock, have been excluded from the computation of diluted net loss per share as the effect would be antidilutive. Therefore, the
weighted-average number of common shares outstanding used to calculate both basic and diluted net loss per share is the same. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect:

Thirteen weeks endedThirty-nine weeks ended
September 28,
2025		September 29,
2024		September 28,
2025		September 29,
2024
Options to purchase common stock14,035,191 13,607,548 14,035,191 13,607,548 
Time-based vesting restricted stock units563,811 1,016,297 563,811 1,016,297 
Performance stock units4,500,000 5,400,000 4,500,000 5,400,000 
Contingently issuable stock250,000 506,243 250,000 506,243 
Total common stock equivalents19,349,002 20,530,088 19,349,002 20,530,088 
v3.25.3
RELATED-PARTY TRANSACTIONS
 9 Months Ended
Sep. 28, 2025
Related Party Transactions [Abstract]  
RELATED-PARTY TRANSACTIONS RELATED-PARTY TRANSACTIONS
The Company’s founders and former Chief Financial Officer each hold an indirect minority passive interest in Luzzatto Opportunity Fund II, LLC, an entity which holds indirect equity interests in Welcome to the Dairy, LLC, which is the owner of the properties leased by the Company for the Company’s principal corporate headquarters. For both the thirteen weeks ended September 28, 2025 and September 29, 2024, total payments to Welcome to the Dairy, LLC, totaled $1.0 million. For the thirty-nine weeks ended September 28, 2025 and September 29, 2024, total payments to Welcome to the Dairy, LLC, totaled $3.8 million and $3.1 million, respectively.
v3.25.3
COMMITMENTS AND CONTINGENCIES
 9 Months Ended
Sep. 28, 2025
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Lease Commitments

The Company is obligated under various operating leases related to its office facilities, restaurant locations, and certain equipment under non-cancelable operating leases that expire on various dates. Under certain of these leases, the Company is liable for contingent rent based on a percentage of sales in excess of specified thresholds and typically responsible for its proportionate share of real estate taxes, common area maintenance charges and other occupancy costs. Refer to Note 8, Leases, for additional information.

Purchase Obligations

Purchase obligations include agreements to purchase goods or services that are enforceable and legally binding on us and that specify all significant terms. The majority of the Company’s purchase obligations relate to amounts owed for supplies within its restaurants and are due within the next twelve months.

Legal Contingencies

The Company is subject to various claims, lawsuits, governmental investigations and administrative proceedings that arise in the ordinary course of business. The Company does not believe that the ultimate resolution of any of these matters will have a material effect on the Company’s financial position, results of operations, liquidity, or capital resources. However, an increase in the number of these claims, or one or more successful claims under which the Company incurs greater liabilities than the Company currently anticipates, could materially and adversely affect the Company’s business, financial position, results of operations, and cash flows.
v3.25.3
Segment Reporting
 9 Months Ended
Sep. 28, 2025
Segment Reporting [Abstract]  
REPORTABLE SEGMENT REPORTABLE SEGMENT
The Company’s operations are conducted as one operating segment and one reportable segment via revenue derived from retail sales of food and beverages by company-owned restaurants within the United States. The Company’s chief operating decision maker (“CODM”) is the chief executive officer. Segment information is prepared and managed on the same basis as described in the Company’s Annual Report on Form 10-K for the year ended December 29, 2024. The Company’s assets are managed centrally and are reported internally
in the same manner as the condensed consolidated financial statements, and thus, no additional information is disclosed herein.

Other than certain disaggregated expense information provided in relation to General and Administrative expense (“G&A”), significant expenses regularly provided to the CODM is presented on the face of the statement of operations. The CODM is also regularly provided disaggregated expense information for G&A, which is disaggregated between operating support center cost, stock-based compensation, all of which was included within G&A (see note 10), and other expenses, as shown below:

Thirteen weeks endedThirty-nine weeks ended
September 28,
2025		September 29,
2024		September 28,
2025		September 29,
2024
General and administrative
Operating support center cost(1)
$24,089 $26,372 $77,972 $81,422 
Stock-based compensation5,811 9,685 24,032 30,214 
Other expenses(2)
1,000 720 1,738 1,208 
Total General and administrative$30,900 $36,777 $103,742 $112,844 
(1)Operating support center costs consist primarily of operations, technology, finance, legal, human resources, administrative personnel, and other personnel costs that support restaurant development and operations, as well as brand-related marketing.
(2)Other expense typically includes expenses recorded for accruals related to legal settlements, one-time costs incurred to acquire Spyce, amortization costs associated with the implementation of the Company’s Enterprise Risk Management system, and a one-time write-off of specific materials associated with legacy marketing initiatives.
v3.25.3
SUBSEQUENT EVENTS
 9 Months Ended
Sep. 28, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
On November 5, 2025, the Company entered into a definitive agreement to sell Spyce Food Co., our business unit responsible for developing the Infinite Kitchen units, and certain of our other assets related to the Infinite Kitchen technology and other related kitchen automation technology, to certain subsidiaries of Wonder Group, Inc. (“Wonder”) for total consideration of $186.4 million, made up of cash of $100 million and Series C preferred stock of Wonder with an implied value of $86.4 million. Under this agreement, Sweetgreen will continue to use and deploy Infinite Kitchen technology across our restaurants as part of an established licensing agreement. The transaction is expected to close in late 2025 or early 2026. The Company is evaluating the accounting implications of the planned sale, including the carrying value of the full disposal group and any resulting gain to be recognized upon completion of the transaction.

The Company evaluated the held for sale classification criteria as it pertains to the disposal group and determined it is not met as of the balance sheet date of September 28, 2025, and thus continues to classify related balances as held and used within the condensed consolidated financial statements.
v3.25.3
Insider Trading Arrangements
 3 Months Ended
Sep. 28, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.3
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 9 Months Ended
Sep. 28, 2025
Accounting Policies [Abstract]  
Principles of Consolidation
Principles of Consolidation—The accompanying condensed consolidated financial statements include the accounts of the Company. All intercompany balances and transactions have been eliminated in consolidation.
Fiscal Year
Fiscal Year—The Company’s fiscal year is a 52- or 53-week period that ends on the Sunday closest to the last day of December. Fiscal year 2025 is a 52-week period that ends December 28, 2025 and fiscal year 2024 was a 52-week period that ended December 29, 2024. In a 52-week fiscal year, each quarter includes 13 weeks of operations. In a 53-week fiscal year, the first, second and third quarters each include 13 weeks of operations, and the fourth quarter includes 14 weeks of operations.
Management’s Use of Estimates
Management’s Use of Estimates—The condensed consolidated financial statements have been prepared by the Company in accordance with GAAP and the rules and regulations of the SEC. The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant accounting estimates made by the Company include the income tax valuation allowance, impairment of long-lived assets and right-of-use assets, legal liabilities, valuation of the contingent consideration liability, lease accounting matters, and stock-based compensation. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from those estimates.
Cash and Cash Equivalents Cash and Cash Equivalents—The Company considers all highly liquid investments with a maturity of three months or less at the time of purchase to be cash equivalents. Amounts receivable from credit card processors are converted to cash shortly after the related sales transaction and are considered to be cash equivalents because they are both short-term and highly liquid in nature.
Restricted Cash
Restricted Cash—The Company’s restricted cash balance relates to certificates of deposit that are collateral for letters of credit to lease agreements entered into by the Company and letters of credit associated with the Company’s workers’ compensation insurance policy.
Recently Issued Accounting Pronouncements Not Yet Adopted
Recently Issued Accounting Pronouncements Not Yet Adopted— In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The ASU includes amendments requiring enhanced income tax disclosures, primarily related to standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. The guidance is effective for fiscal years beginning after December 15, 2024, with early adoption permitted, and should be applied either prospectively or retrospectively. The Company is currently evaluating the impact of adopting this ASU on its disclosures.

In November 2024, the FASB issued ASU No. 2024-03, "Disaggregation of Income Statement Expenses (Subtopic 220-40)." The ASU requires public entities to disaggregate, in a tabular presentation, certain income statement expenses into different categories, such as purchases of inventory, employee compensation, depreciation, and intangible asset amortization. The guidance is effective for fiscal years beginning after December 15, 2026, with early adoption permitted, and may be applied retrospectively. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which modernizes the accounting for internal-use software costs by removing all references to prescriptive and sequential software development stages. The new standard requires entities to consider whether significant development uncertainty has been resolved before starting to capitalize software costs and aligns disclosure requirements with ASC 360, Property, Plant, and Equipment. The guidance is effective for annual and interim reporting periods beginning after December 15, 2027, and may be applied prospectively, retrospectively, or using a modified transition method, with early adoption permitted. The Company is currently evaluating the impacts of adopting this ASU on its consolidated financial statements and related disclosures.

The Company reviewed all other recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact to the condensed consolidated financial statements.
v3.25.3
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Sep. 28, 2025
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents
The reconciliation of cash and cash equivalents and restricted cash presented in the Company’s accompanying condensed consolidated balance sheets to the total amount shown in its condensed consolidated statements of cash flows is as follows:
(dollar amounts in thousands)
As of September 28,
2025		As of December 29,
2024
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents$129,972 $214,789 
Restricted cash, noncurrent
4,1352,640 
Total cash, cash equivalents and restricted cash shown on statement of cash flows$134,107$217,429
Schedule of Restricted Cash
The reconciliation of cash and cash equivalents and restricted cash presented in the Company’s accompanying condensed consolidated balance sheets to the total amount shown in its condensed consolidated statements of cash flows is as follows:
(dollar amounts in thousands)
As of September 28,
2025		As of December 29,
2024
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents$129,972 $214,789 
Restricted cash, noncurrent
4,1352,640 
Total cash, cash equivalents and restricted cash shown on statement of cash flows$134,107$217,429
v3.25.3
REVENUE RECOGNITION (Tables)
 9 Months Ended
Sep. 28, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue by Significant Revenue Channel
The following table presents the Company’s revenue for the thirteen and thirty-nine weeks ended September 28, 2025 and September 29, 2024 disaggregated by significant revenue channel:
Thirteen weeks endedThirty-nine weeks ended
(dollar amounts in thousands)
September 28,
2025		 September 29,
2024		September 28,
2025		 September 29,
2024
Owned Digital Channels$60,805 $50,561 $175,842 $158,727 
In-Store Channel (Non-Digital component)
65,923 77,861 205,452 224,540 
Marketplace Channel45,665 45,009 142,986 132,655 
Total Revenue$172,393$173,431$524,280$515,922
Schedule of Gift Card Liability Included in Gift Card and Loyalty Liability
Gift card liability and loyalty liability within the accompanying condensed consolidated balance sheets was as follows:
(dollar amounts in thousands)
As of September 28,
2025		As of December 29,
2024
Gift Card Liability$5,324$4,385
Loyalty Liability
$2,540$—
Revenue recognized from the redemption of gift cards and loyalty liability that was included in gift card and loyalty liability at the beginning of the year was as follows:
Thirteen weeks endedThirty-nine weeks ended
(dollar amounts in thousands)
September 28,
2025		 September 29,
2024		September 28,
2025		 September 29,
2024
Revenue recognized from gift card liability balance at the beginning of the year$73$64$623$700
Revenue recognized from loyalty liability balance at the beginning of the year
$—$—$—$—
v3.25.3
FAIR VALUE (Tables)
 9 Months Ended
Sep. 28, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Liabilities Measured at Fair Value
The following tables present information about the Company’s financial liabilities measured at fair value on a recurring basis:
Fair Value Measurements as of September 28, 2025Fair Value Measurements as of December 29, 2024
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
(dollar amounts in thousands)
Contingent consideration5,908 — — 5,908 14,974 — — 14,974 
Schedule of Fair Values Roll Forward of Contingent Consideration
The following table provides a roll forward of the aggregate fair values of the Company’s contingent consideration, for which fair value is determined using Level 3 inputs.
(dollar amounts in thousands)
Contingent Consideration
Balance—December 29, 2024$14,974 
Milestone payment
(7,000)
Change in fair value
(2,066)
Balance—September 28, 2025$5,908 
Schedule of Assets Measured on Recurring Basis
Fair Value Measurements as of Measurement DateThirteen weeks ended September 28, 2025Thirty-nine weeks ended September 28, 2025
TotalLevel 1Level 2Level 3Impairment Losses
(dollar amounts in thousands)
Property and equipment, net
— — — — 4,311 7,996 
Operating lease assets(1)
2,697 — — 2,697 — 1,594 
v3.25.3
PROPERTY AND EQUIPMENT (Tables)
 9 Months Ended
Sep. 28, 2025
Property, Plant and Equipment [Abstract]  
Summary of Property and Equipment A summary of property and equipment is as follows:
(dollar amounts in thousands)
As of September 28,
2025		As of December 29,
2024
Leasehold improvements
$326,919$303,035
Kitchen equipment
126,840107,475
Computers and other equipment
48,03644,295
Furniture and fixtures
47,15343,045
Assets not yet placed in service
53,70838,047
Total property and equipment
602,656535,897
Less: accumulated depreciation
(281,220)(239,412)
Property and equipment, net
$321,436$296,485
v3.25.3
GOODWILL AND INTANGIBLE ASSETS, NET (Tables)
 9 Months Ended
Sep. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Asset, Net
The following table presents the Company’s intangible assets, net balances:
(dollar amounts in thousands)
As of September 28,
2025		As of December 29,
2024
Internal use software$51,709 $45,933 
Developed technology20,050 20,050 
Total intangible assets
71,759 65,983 
Accumulated amortization(50,165)(41,943)
Intangible assets, net
$21,594$24,040
Schedule of Estimated Amortization of Internal Use Software
Estimated future amortization of internal use software and developed technology is as follows:
(dollar amounts in thousands)

2025$2,738 
20269,589 
20277,244 
20282,023 
Total$21,594
v3.25.3
ACCRUED EXPENSES (Tables)
 9 Months Ended
Sep. 28, 2025
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses
Accrued expenses consist of the following:
(dollar amounts in thousands)
As of September 28,
2025		As of December 29,
2024
Fixed asset accrual9,634 5,983 
Accrued general and sales tax$6,416 $4,625 
Accrued settlements and legal fees1,369 3,529 
Rent deferrals and accrued rent
1,312 1,220 
Accrued delivery fee1,085 970 
Other accrued expenses13,440 10,237 
Total accrued expenses$33,256 $26,564 
v3.25.3
LEASES (Tables)
 9 Months Ended
Sep. 28, 2025
Leases [Abstract]  
Components of Lease Cost
The components of lease cost for the thirteen and thirty-nine weeks ended September 28, 2025 and September 29, 2024 were as follows:

Thirteen weeks endedThirty-nine weeks ended
(dollar amounts in thousands)ClassificationSeptember 28,
2025		September 29,
2024		September 28,
2025		September 29,
2024
Operating lease costOccupancy and related expense
General and administrative expense
Pre-opening costs		$14,840 $13,092 $42,870 $38,240 
Variable lease costOccupancy and related expense
General and administrative expense		3,454 3,204 10,207 9,480 
Short term lease costOccupancy and related expense
General and administrative expense		148 232 362 462 
Total lease cost$18,442 $16,528 $53,439 $48,182 
A summary of lease terms and discount rates for operating leases as of September 28, 2025 and December 29, 2024 is as follows:

September 28,
2025		December 29,
2024
Weighted average remaining lease term (years):
Operating Leases7.297.32
Weighted average discount rate:
Operating Leases6.86 %6.75 %

During the thirty-nine weeks ended September 28, 2025, the Company recorded a non-cash impairment charge related to operating lease assets of $1.6 million, which is recorded in impairment and closure costs within the condensed consolidated financial statements.

Supplemental cash flow information related to leases for the thirty-nine weeks ended September 28, 2025 and September 29, 2024:
September 28,
2025		September 29,
2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net of lease incentives$48,735 $32,138 
Right of use assets obtained in exchange for lease obligations:
Operating leases$57,869 $28,455 
Derecognition of operating lease assets due to termination or impairment
$1,594 $— 
Future Minimum Lease Payments
As of September 28, 2025, future minimum lease payments for operating leases consisted of the following:

(dollar amounts in thousands)
2025$9,840 
202669,138 
202767,237 
202861,483 
202959,752 
Thereafter
197,188 
Total
$464,638 
Less: imputed interest108,230 
Total lease liabilities$356,408 
v3.25.3
COMMON STOCK (Tables)
 9 Months Ended
Sep. 28, 2025
Equity [Abstract]  
Schedule of Reserved Shares of Common Stock For Issuance
As of September 28, 2025 and December 29, 2024, the Company had reserved shares of common stock for issuance in connection with the following:
As of September 28,
2025		As of December 29,
2024
Options outstanding under the 2009 Stock Plan, 2019 Equity Incentive Plan, Spyce Food Co. 2016 Stock Option Plan and Grant Plan and 2021 Equity Incentive Plan14,035,191 13,169,869 
Shares reserved for achievement of Spyce milestones250,000 500,000 
Shares reserved for employee stock purchase plan4,111,331 4,111,331 
RSUs and PSUs outstanding under the 2019 Equity Incentive Plan and 2021 Equity Incentive Plan5,063,811 5,410,024 
Shares available for future issuance under the 2021 Equity Incentive Plan6,993,044 8,516,216 
Total reserved shares of common stock30,453,377 31,707,440 
v3.25.3
STOCK - BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 28, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity
The following table summarizes the Company’s stock option activity for the thirty-nine weeks ended September 28, 2025 and September 29, 2024:
(dollar amounts in thousands except per share amounts)
Number of
Shares
Weighted
Average
Exercise
Price Per
Share
Weighted-Average
Remaining
Contractual Term
(In Years)
Aggregate
Intrinsic
Value
Balance—December 29, 202413,169,869$9.88 6.04$297,037 
Options granted2,141,34718.23 
Options exercised(380,345)8.04 
Options forfeited(834,943)18.77 
Options expired (60,737)18.03 
Balance—September 28, 202514,035,191$10.65 5.65$18,446 
Exercisable—September 28, 202510,704,215$8.54 4.61$18,339 
Vested and expected to vest—September 28, 202514,035,191$10.65 5.65$18,446 
(dollar amounts in thousands except per share amounts)
Number of
Shares
Weighted
Average
Exercise
Price Per
Share
Weighted-Average
Remaining
Contractual Term
(In Years)
Aggregate
Intrinsic
Value
Balance—December 31, 202313,219,388$7.77 5.97$53,758 
Options granted2,256,18319.02 
Options exercised(1,507,226)6.44 
Options forfeited(316,223)14.81 
Options expired(44,574)18.16 
Balance—September 29, 202413,607,548$9.59 6.16$358,760 
Exercisable—September 29, 202410,041,326$7.46 5.20$286,048 
Vested and expected to vest—September 29, 202413,607,548$9.59 6.16$358,760 
Summary of Restricted Stock Units Activity
The following table summarizes the Company’s RSU activity for the thirty-nine weeks ended September 28, 2025 and September 29, 2024:

(dollar amounts in thousands except per share amounts)
Number of SharesWeighted-Average Grant Date Fair Value
Balance—December 29, 2024
910,024 $17.72 
   Granted458,281 15.74 
   Released(639,522)19.21 
   Forfeited(164,972)17.22 
Balance—September 28, 2025
563,811 14.57 
(dollar amounts in thousands except per share amounts)
Number of SharesWeighted-Average Grant Date Fair Value
Balance—December 31, 2023
951,517 $17.41 
   Granted518,177 20.36 
   Released(369,355)20.63 
   Forfeited(84,042)18.46 
Balance—September 29, 2024
1,016,297 $17.67 
Summary of Stock-based Compensation Expense
A summary of stock-based compensation expense recognized during the thirteen and thirty-nine weeks ended September 28, 2025 and September 29, 2024 is as follows:

Thirteen weeks endedThirty-nine weeks ended
(dollar amounts in thousands)September 28,
2025		September 29,
2024		September 28,
2025		September 29,
2024
Stock-options$2,790 $3,107 $8,601 $8,401 
Restricted stock units1,040 1,909 7,591 6,645 
Performance stock units1,981 4,669 7,840 15,168 
Total stock-based compensation$5,811 $9,685 $24,032 $30,214 
Schedule of Nonvested Performance-Based Units Activity
During thirteen weeks ended September 28, 2025, the Company approved a modification to certain restricted stock units awards in connection with the transition of a former executive from an employee to a non-employee consultant. The modification provided for (i) continued vesting of certain awards during the consulting period and (ii) immediate vesting of any remaining unvested restricted stock units at the completion of the consulting period. The fair value of each modified RSU has been estimated using the current stock price as of the modification date. The incremental expense will be recognized as additional stock-based compensation expense over the remaining requisite service period. For the thirteen weeks ended September 28, 2025, the incremental expense related to RSUs was immaterial, and thus, no additional expense was recorded during the current quarter. Accordingly, the impact of the modification is not reflected in the tables presented above. The Company expects to recognize the remaining incremental restricted stock unit expense of $0.1 million related to this modification across the six month consulting period.

The fair value of shares released as of the vesting date during the thirty-nine weeks ended September 28, 2025 was $12.3 million. As of September 28, 2025, unrecognized compensation expense related to RSUs was $7.5 million and is expected to be recognized over a weighted average period of 2.12 years.
v3.25.3
NET LOSS PER SHARE (Tables)
 9 Months Ended
Sep. 28, 2025
Earnings Per Share [Abstract]  
Schedule of Computation of Net Loss Per Common Share
The following table sets forth the computation of net loss per common share:
Thirteen weeks endedThirty-nine weeks ended
September 28,
2025		September 29,
2024		September 28,
2025		September 29,
2024
(dollar amounts in thousands)
Numerator:
Net loss$(36,146)$(20,816)$(84,343)$(61,343)
Denominator:
Weighted-average common shares outstanding—basic and diluted118,282,536 114,752,307 117,804,955 113,743,453 
Earnings per share—basic and diluted$(0.31)$(0.18)$(0.72)$(0.54)
Schedule of Anti-dilutive Shares Excluded The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect:
Thirteen weeks endedThirty-nine weeks ended
September 28,
2025		September 29,
2024		September 28,
2025		September 29,
2024
Options to purchase common stock14,035,191 13,607,548 14,035,191 13,607,548 
Time-based vesting restricted stock units563,811 1,016,297 563,811 1,016,297 
Performance stock units4,500,000 5,400,000 4,500,000 5,400,000 
Contingently issuable stock250,000 506,243 250,000 506,243 
Total common stock equivalents19,349,002 20,530,088 19,349,002 20,530,088 
v3.25.3
SEGMENT REPORTING (Tables)
 9 Months Ended
Sep. 28, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment The CODM is also regularly provided disaggregated expense information for G&A, which is disaggregated between operating support center cost, stock-based compensation, all of which was included within G&A (see note 10), and other expenses, as shown below:
Thirteen weeks endedThirty-nine weeks ended
September 28,
2025		September 29,
2024		September 28,
2025		September 29,
2024
General and administrative
Operating support center cost(1)
$24,089 $26,372 $77,972 $81,422 
Stock-based compensation5,811 9,685 24,032 30,214 
Other expenses(2)
1,000 720 1,738 1,208 
Total General and administrative$30,900 $36,777 $103,742 $112,844 
(1)Operating support center costs consist primarily of operations, technology, finance, legal, human resources, administrative personnel, and other personnel costs that support restaurant development and operations, as well as brand-related marketing.
(2)Other expense typically includes expenses recorded for accruals related to legal settlements, one-time costs incurred to acquire Spyce, amortization costs associated with the implementation of the Company’s Enterprise Risk Management system, and a one-time write-off of specific materials associated with legacy marketing initiatives.
v3.25.3
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 28, 2025
USD ($)
state
restaurant
Sep. 28, 2025
USD ($)
segment
restaurant
state
Dec. 29, 2024
USD ($)
Change in Accounting Estimate [Line Items]      
Number of restaurants | restaurant 266 266  
Number of states | state 23 23  
Number of restaurants opened | restaurant 6 20  
Operating segments | segment   1  
Reportable segments | segment   1  
Accounts receivable $ 6,805 $ 6,805 $ 5,034
Restricted cash associated with letters of credit 4,100 4,100  
Credit Card Processors      
Change in Accounting Estimate [Line Items]      
Accounts receivable $ 5,000 $ 5,000 $ 2,300
v3.25.3
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reconciliation of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($)
$ in Thousands
Sep. 28, 2025
Dec. 29, 2024
Sep. 29, 2024
Dec. 31, 2023
Reconciliation of cash, cash equivalents and restricted cash:        
Cash and cash equivalents $ 129,972 $ 214,789    
Restricted cash, noncurrent 4,135 2,640    
Total cash, cash equivalents and restricted cash shown on statement of cash flows $ 134,107 $ 217,429 $ 237,263 $ 257,355
v3.25.3
REVENUE RECOGNITION - Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 28, 2025
Sep. 29, 2024
Sep. 28, 2025
Sep. 29, 2024
Disaggregation of Revenue [Line Items]        
Total Revenue $ 172,393 $ 173,431 $ 524,280 $ 515,922
Owned Digital Channels | Direct        
Disaggregation of Revenue [Line Items]        
Total Revenue 60,805 50,561 175,842 158,727
In-Store Channel (Non-Digital component) | Direct        
Disaggregation of Revenue [Line Items]        
Total Revenue 65,923 77,861 205,452 224,540
Marketplace Channel | 3rd party        
Disaggregation of Revenue [Line Items]        
Total Revenue $ 45,665 $ 45,009 $ 142,986 $ 132,655
v3.25.3
REVENUE RECOGNITION - Schedule of Contract with Customer, Contract Asset, Contract Liability, and Receivable (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 28, 2025
Sep. 29, 2024
Sep. 28, 2025
Sep. 29, 2024
Dec. 29, 2024
Disaggregation of Revenue [Line Items]          
Gift Card Liability $ 7,864   $ 7,864   $ 4,413
Gift Cards          
Disaggregation of Revenue [Line Items]          
Gift Card Liability 5,324   5,324   4,385
Revenue recognized from gift card liability balance at the beginning of the year 73 $ 64 623 $ 700  
Loyalty Program          
Disaggregation of Revenue [Line Items]          
Gift Card Liability 2,540   2,540   $ 0
Revenue recognized from gift card liability balance at the beginning of the year $ 0 $ 0 $ 0 $ 0  
v3.25.3
REVENUE RECOGNITION - Narrative (Details)
 9 Months Ended
Sep. 28, 2025
Loyalty Program  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Customer loyalty program liability, expiration period 180 days
v3.25.3
FAIR VALUE - Schedule of Financial Liabilities Measured at Fair Value (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 28, 2025
Sep. 29, 2024
Sep. 28, 2025
Sep. 29, 2024
Dec. 29, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Non-cash impairment charges $ 4,311 $ 8,000 $ 7,996 $ 8,000  
Right-of-use assets 286,871   286,871   $ 257,496
Operating lease assets, impairment losses $ 0 $ 1,600 $ 1,594    
Minimum          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Discount rate 7.50%   7.50%    
Maximum          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Discount rate 950.00%   950.00%    
Recurring          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Contingent consideration $ 5,908   $ 5,908   14,974
Recurring | Other Current Liabilities          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Contingent consideration         9,700
Recurring | Contingent consideration          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Contingent consideration         5,300
Recurring | Level 1          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Contingent consideration 0   0   0
Recurring | Level 2          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Contingent consideration 0   0   0
Recurring | Level 3          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Contingent consideration 5,908   5,908   $ 14,974
Nonrecurring          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Property and equipment, net 0   0    
Right-of-use assets 2,697   2,697    
Nonrecurring | Level 1          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Property and equipment, net 0   0    
Right-of-use assets 0   0    
Nonrecurring | Level 2          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Property and equipment, net 0   0    
Right-of-use assets 0   0    
Nonrecurring | Level 3          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Property and equipment, net 0   0    
Right-of-use assets $ 2,697   $ 2,697    
v3.25.3
FAIR VALUE - Narrative (Details)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended 49 Months Ended
Sep. 07, 2021
USD ($)
milestone
$ / shares
shares
Sep. 28, 2025
USD ($)
store
$ / shares
Sep. 29, 2024
USD ($)
Sep. 28, 2025
USD ($)
store
$ / shares
Sep. 29, 2024
USD ($)
Sep. 28, 2025
USD ($)
$ / shares
Dec. 29, 2024
USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]              
Performance based milestone targets | milestone 3            
Tangible Asset Impairment Charges, Stores Impaired | store   4   9      
Asset impairment charges   $ 9,600   $ 9,600      
Non-cash impairment charges   4,311 $ 8,000 7,996 $ 8,000    
Recurring              
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]              
Contingent consideration   5,908   $ 5,908   $ 5,908 $ 14,974
Recurring | Other Current Liabilities              
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]              
Contingent consideration             9,700
Recurring | Contingent consideration              
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]              
Contingent consideration             $ 5,300
IPO              
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]              
Shares issued (in dollars per share) | $ / shares $ 28.00            
Spyce              
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]              
Additional shares issued, value $ 20,000            
Additional shares issued (in shares) | shares 714,285            
Contingent consideration $ 16,400            
Spyce | Former Equity Holders, Additional Equity | Milestone One              
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]              
Business combination, contingent consideration, liability, earnout   $ 6,000          
Business acquisition, share price (in dollars per share) | $ / shares   $ 10.20   $ 10.20   $ 10.20  
Business combination, contingent consideration, liability, equity interests issued and issuable, earnout   $ 2,100       $ 6,800  
Business combination, contingent consideration, liability, cash, earnout   3,900       16,600  
Spyce | Former Equity Holders, Additional Equity | Milestone Two              
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]              
Business combination, contingent consideration, liability, earnout   $ 7,000       $ 23,400  
Business acquisition, share price (in dollars per share) | $ / shares   $ 19.40   $ 19.40   $ 19.40  
Business combination, contingent consideration, liability, equity interests issued and issuable, earnout   $ 4,700          
Business combination, contingent consideration, liability, cash, earnout   $ 2,300          
v3.25.3
FAIR VALUE - Schedule of Fair Values Roll Forward of Contingent Consideration (Details)
$ in Thousands
 9 Months Ended
Sep. 28, 2025
USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Milestone payment $ (7,000)
Level 3 | Contingent consideration  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Beginning Balance 14,974
Change in fair value (2,066)
Ending Balance $ 5,908
v3.25.3
PROPERTY AND EQUIPMENT - Summary of Property and Equipment (Details) - USD ($)
$ in Thousands
Sep. 28, 2025
Dec. 29, 2024
Property, Plant and Equipment [Line Items]    
Total property and equipment $ 602,656 $ 535,897
Less: accumulated depreciation (281,220) (239,412)
Property and equipment, net 321,436 296,485
Kitchen equipment    
Property, Plant and Equipment [Line Items]    
Total property and equipment 126,840 107,475
Computers and other equipment    
Property, Plant and Equipment [Line Items]    
Total property and equipment 48,036 44,295
Furniture and fixtures    
Property, Plant and Equipment [Line Items]    
Total property and equipment 47,153 43,045
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Total property and equipment 326,919 303,035
Assets not yet placed in service    
Property, Plant and Equipment [Line Items]    
Total property and equipment $ 53,708 $ 38,047
v3.25.3
PROPERTY AND EQUIPMENT - Narrative (Details)
$ in Thousands
 3 Months Ended 6 Months Ended 9 Months Ended
Sep. 28, 2025
USD ($)
Sep. 29, 2024
USD ($)
Jun. 29, 2025
facility
Sep. 28, 2025
USD ($)
facility
Sep. 29, 2024
USD ($)
Property, Plant and Equipment [Abstract]          
Depreciation expense | $ $ 15,500 $ 14,100   $ 45,200 $ 41,800
Number of facilities under construction | facility     9 23  
Number of facilities under construction opened in current year | facility     8    
Non-cash impairment charges | $ $ 4,311 $ 8,000   $ 7,996 $ 8,000
v3.25.3
GOODWILL AND INTANGIBLE ASSETS, NET - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 28, 2025
Sep. 28, 2025
Sep. 29, 2024
Dec. 29, 2024
Indefinite-lived Intangible Assets [Line Items]        
Goodwill $ 35,970 $ 35,970   $ 35,970
Amortization expense for intangible assets   $ 752 $ 682  
Developed technology        
Indefinite-lived Intangible Assets [Line Items]        
Useful life 5 years 5 years    
Software and Software Development Costs        
Indefinite-lived Intangible Assets [Line Items]        
Amortization expense for intangible assets $ 2,800 $ 8,200 $ 8,300  
v3.25.3
GOODWILL AND INTANGIBLE ASSETS, NET - Intangible Asset, Net (Details) - USD ($)
$ in Thousands
Sep. 28, 2025
Dec. 29, 2024
Indefinite-lived Intangible Assets [Line Items]    
Total intangible assets $ 71,759 $ 65,983
Accumulated amortization (50,165) (41,943)
Intangible assets, net 21,594 24,040
Internal use software    
Indefinite-lived Intangible Assets [Line Items]    
Total intangible assets 51,709 45,933
Developed technology    
Indefinite-lived Intangible Assets [Line Items]    
Total intangible assets $ 20,050 $ 20,050
v3.25.3
GOODWILL AND INTANGIBLE ASSETS, NET - Estimated Amortization of Internal Use Software (Details) - USD ($)
$ in Thousands
Sep. 28, 2025
Dec. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
2025 $ 2,738  
2026 9,589  
2027 7,244  
2028 2,023  
Intangible assets, net $ 21,594 $ 24,040
v3.25.3
ACCRUED EXPENSES (Details) - USD ($)
$ in Thousands
Sep. 28, 2025
Dec. 29, 2024
Payables and Accruals [Abstract]    
Accrued general and sales tax $ 6,416 $ 4,625
Fixed asset accrual 9,634 5,983
Accrued settlements and legal fees 1,369 3,529
Rent deferrals and accrued rent 1,312 1,220
Accrued delivery fee 1,085 970
Other accrued expenses 13,440 10,237
Total accrued expenses $ 33,256 $ 26,564
v3.25.3
DEBT (Details) - Line of Credit - 2020 Credit Facility - USD ($)
Dec. 29, 2024
Dec. 14, 2020
Revolving Credit Facility    
Debt Instrument [Line Items]    
Borrowing capacity   $ 45,000,000
Letter of Credit    
Debt Instrument [Line Items]    
Borrowing capacity $ 3,500,000  
v3.25.3
LEASES - Narrative (Details) - USD ($)
$ in Millions
Sep. 28, 2025
Dec. 29, 2024
Lessee, Lease, Description [Line Items]    
Term of contract 10 years  
Lease not yet commenced, amount $ 13.9 $ 27.5
Minimum    
Lessee, Lease, Description [Line Items]    
Renewal term 5 years  
Maximum    
Lessee, Lease, Description [Line Items]    
Renewal term 15 years  
v3.25.3
LEASES - Lease Cost (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 28, 2025
Sep. 29, 2024
Sep. 28, 2025
Sep. 29, 2024
Leases [Abstract]        
Operating lease cost $ 14,840 $ 13,092 $ 42,870 $ 38,240
Variable lease cost 3,454 3,204 10,207 9,480
Short term lease cost 148 232 362 462
Total lease cost $ 18,442 $ 16,528 $ 53,439 $ 48,182
v3.25.3
LEASES - Future Minimum Lease Payments (Details) - USD ($)
$ in Thousands
Sep. 28, 2025
Dec. 29, 2024
Leases [Abstract]    
2025 $ 9,840  
2026 69,138  
2027 67,237  
2028 61,483  
2029 59,752  
Thereafter 197,188  
Total 464,638  
Less: imputed interest 108,230  
Total lease liabilities $ 356,408  
Operating Leases 7 years 3 months 14 days 7 years 3 months 25 days
v3.25.3
LEASES - Lease Terms and Discount Rates (Details)
Sep. 28, 2025
Dec. 29, 2024
Weighted average remaining lease term (years):    
Operating Leases 7 years 3 months 14 days 7 years 3 months 25 days
Weighted average discount rate:    
Operating Leases 6.86% 6.75%
v3.25.3
LEASES - Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 28, 2025
Sep. 29, 2024
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases, net of lease incentives $ 48,735 $ 32,138
Right of use assets obtained in exchange for lease obligations:    
Operating leases 57,869 28,455
Derecognition of operating lease assets due to termination or impairment $ 1,594 $ 0
v3.25.3
COMMON STOCK (Details) - shares
Sep. 28, 2025
Dec. 29, 2024
Class of Stock [Line Items]    
Total reserved shares of common stock 30,453,377 31,707,440
Shares available for future issuance under the 2021 Equity Incentive Plan    
Class of Stock [Line Items]    
Total reserved shares of common stock 6,993,044 8,516,216
Shares reserved for achievement of Spyce milestones    
Class of Stock [Line Items]    
Total reserved shares of common stock 250,000 500,000
Stock Options    
Class of Stock [Line Items]    
Total reserved shares of common stock 14,035,191 13,169,869
Employee Stock    
Class of Stock [Line Items]    
Total reserved shares of common stock 4,111,331 4,111,331
Restricted Stock Units And Performance Share Units    
Class of Stock [Line Items]    
Total reserved shares of common stock 5,063,811 5,410,024
v3.25.3
STOCK - BASED COMPENSATION - Narrative (Details)
$ / shares in Units, $ in Thousands
 1 Months Ended 3 Months Ended 6 Months Ended 9 Months Ended
Jan. 01, 2023
shares
Nov. 23, 2021
performance_based_milestone_target
shares
Sep. 07, 2021
milestone
shares
Oct. 31, 2021
shares
Sep. 28, 2025
USD ($)
$ / shares
shares
Sep. 29, 2024
USD ($)
Mar. 31, 2026
USD ($)
Jun. 26, 2022
Sep. 28, 2025
USD ($)
$ / shares
shares
Sep. 29, 2024
USD ($)
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Total stock-based compensation | $         $ 5,811 $ 9,685     $ 24,032 $ 30,214
Weighted average grant date fair value of options (in dollars per share) | $ / shares                 $ 9.23 $ 9.32
Options modified         924,097          
Modified options, weighted average exercise price (in dollars per share) | $ / shares         $ 10.39       $ 10.39  
Performance based milestone targets | milestone     3              
Stock Options                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Contractual life               10 years    
Total stock-based compensation | $         $ 2,790 3,107     $ 8,601 $ 8,401
Unrecognized compensation expense | $         26,900       $ 26,900  
Expected period for recognition                 2 years 1 month 13 days  
Stock Options | Forecast                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Incremental cost | $             $ 1,800      
PSUs                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Total stock-based compensation | $         1,981 4,669     $ 7,840 $ 15,168
Unrecognized compensation expense | $         $ 1,900       $ 1,900  
Expected period for recognition                 3 months 25 days  
Outstanding shares         4,500,000       4,500,000  
Shares granted (in shares)       6,300,000           0
New shares issued (in shares)   321,428                
Performance based milestone targets | performance_based_milestone_target   3                
Total shares granted (in shares)                 85,395  
Released (in shares)                   900,000
PSUs | Founder One                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Shares granted (in shares)       2,100,000            
PSUs | Founder Two                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Shares granted (in shares)       2,100,000            
PSUs | Founder Three                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Shares granted (in shares)       2,100,000            
RSUs                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Total stock-based compensation | $         $ 1,040 $ 1,909     $ 7,591 $ 6,645
Unrecognized compensation expense | $         $ 7,500       $ 7,500  
Expected period for recognition                 2 years 1 month 13 days  
Shares granted (in shares)                 458,281 518,177
Fair value of shares earned | $                 $ 12,300  
Released (in shares)                 639,522 369,355
RSUs | Forecast                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Incremental cost | $             $ 100      
Minimum | Stock Options                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Vesting period         1 year          
Maximum | Stock Options                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Vesting period                 4 years  
2021 Plan                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Maximum number of common stock authorized for issuance (in shares)         35,166,753       35,166,753  
Maximum number of new common stock authorized for issuance (in shares)                 11,500,000  
2021 Plan | Stock Options                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Contractual life         10 years       10 years  
2021 Plan | Minimum | Stock Options                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Vesting period         12 months       12 months  
2021 Plan | Maximum | Stock Options                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Vesting period         4 years       4 years  
ESPP | Employee Stock                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Maximum number of common stock authorized for issuance (in shares) 4,111,331   3,000,000              
Common stock reserved, issuance, increase period 10 years                  
Percentage of outstanding stock maximum 1.00%                  
Maximum shares allowable under the plan (in shares) 4,300,000                  
New shares available (in shares) 1,111,331                  
v3.25.3
STOCK - BASED COMPENSATION - Summary of Stock Option Activity (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Sep. 28, 2025
Sep. 29, 2024
Dec. 29, 2024
Dec. 31, 2023
Number of Shares            
Beginning Balance (in shares) 13,169,869 13,219,388 13,169,869 13,219,388    
Options granted (in shares)     2,141,347 2,256,183    
Options exercised (in shares)     (380,345) (1,507,226)    
Options forfeited (in shares)     (834,943) (316,223)    
Options expired (in shares)     (60,737) (44,574)    
Ending Balance (in shares)     14,035,191 13,607,548    
Options exercisable, Number of shares (in shares)     10,704,215 10,041,326    
Options vested and expected to vest, Number of shares (in shares)     14,035,191 13,607,548    
Weighted Average Exercise Price Per Share            
Beginning Balance (in dollars per share) $ 9.88 $ 7.77 $ 9.88 $ 7.77    
Options granted (in dollars per share)     18.23 19.02    
Options exercised (in dollars per share)     8.04 6.44    
Options forfeited (in dollars per share)     18.77 14.81    
Options expired (in dollars per share)     18.03 18.16    
Ending Balance (in dollars per share)     10.65 9.59    
Options exercisable, Weighted average exercise price per share (in dollars per share)     8.54 7.46    
Options vested and expected to vest, Weighted average exercise price per share (in dollars per share)     $ 10.65 $ 9.59    
Stock Options Additional Disclosures            
Options outstanding, Weighted average remaining contractual term 6 years 14 days 5 years 11 months 19 days 5 years 7 months 24 days 6 years 1 month 28 days    
Options exercisable, Weighted average remaining contractual term     4 years 7 months 9 days 5 years 2 months 12 days    
Options vested and expected to vest, Weighted average remaining contractual term     5 years 7 months 24 days 6 years 1 month 28 days    
Options outstanding, Aggregate intrinsic value     $ 18,446 $ 358,760 $ 297,037 $ 53,758
Options exercisable, Aggregate intrinsic value     18,339 286,048    
Options vested and expected to vest, Aggregate intrinsic value     $ 18,446 $ 358,760    
v3.25.3
STOCK - BASED COMPENSATION - Summary of Restricted Stock Units and Performance Stock Units Activity (Details) - $ / shares
 1 Months Ended 6 Months Ended 9 Months Ended
Oct. 31, 2021
Jun. 29, 2025
Sep. 28, 2025
Sep. 29, 2024
RSUs        
Number of Shares        
Outstanding at beginning of year (in shares)   910,024 910,024 951,517
Granted (in shares)     458,281 518,177
Released (in shares)     (639,522) (369,355)
Forfeited (in shares)     (164,972) (84,042)
Outstanding at end of year (in shares)     563,811 1,016,297
Weighted-Average Grant Date Fair Value        
Outstanding at beginning of year (in dollars per share)   $ 17.72 $ 17.72 $ 17.41
Granted (in dollars per share)     15.74 20.36
Released (in dollars per share)     19.21 20.63
Forfeited (in dollars per share)     17.22 18.46
Outstanding at end of year (in dollars per share)     $ 14.57 $ 17.67
PSUs        
Number of Shares        
Outstanding at beginning of year (in shares)       6,621,428
Granted (in shares) 6,300,000     0
Released (in shares)       (900,000)
Forfeited (in shares)       (321,428)
Outstanding at end of year (in shares)       5,400,000
Weighted-Average Grant Date Fair Value        
Outstanding at beginning of year (in dollars per share)       $ 15.56
Granted (in dollars per share)       0
Released (in dollars per share)       18.55
Forfeited (in dollars per share)   $ 15.62   0
Outstanding at end of year (in dollars per share)       $ 15.99
v3.25.3
STOCK - BASED COMPENSATION - Summary of Stock-based Compensation Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 28, 2025
Sep. 29, 2024
Sep. 28, 2025
Sep. 29, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation $ 5,811 $ 9,685 $ 24,032 $ 30,214
Stock-options        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation 2,790 3,107 8,601 8,401
Restricted stock units        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation 1,040 1,909 7,591 6,645
Performance stock units        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation $ 1,981 $ 4,669 $ 7,840 $ 15,168
v3.25.3
INCOME TAXES (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 28, 2025
Sep. 29, 2024
Sep. 28, 2025
Sep. 29, 2024
Income Tax Disclosure [Abstract]        
Income tax expense $ 90 $ 90 $ 300 $ 270
ERC payment received     5,000  
ERC payment receivable $ 2,100   $ 2,100  
v3.25.3
NET LOSS PER SHARE - Computation of Net Loss Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 28, 2025
Sep. 29, 2024
Sep. 28, 2025
Sep. 29, 2024
Numerator:        
Net loss $ (36,146) $ (20,816) $ (84,343) $ (61,343)
Denominator:        
Weighted-average common shares outstanding—basic (in shares) 118,282,536 114,752,307 117,804,955 113,743,453
Weighted-average common shares outstanding— diluted (in shares) 118,282,536 114,752,307 117,804,955 113,743,453
Earnings per share—basic (in dollars per share) $ (0.31) $ (0.18) $ (0.72) $ (0.54)
Earnings per share—diluted (in dollars per share) $ (0.31) $ (0.18) $ (0.72) $ (0.54)
v3.25.3
NET LOSS PER SHARE - Schedule of Anti-dilutive Shares Excluded (Details) - shares
 3 Months Ended 9 Months Ended
Sep. 28, 2025
Sep. 29, 2024
Sep. 28, 2025
Sep. 29, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total common stock equivalents 19,349,002 20,530,088 19,349,002 20,530,088
Options to purchase common stock        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total common stock equivalents 14,035,191 13,607,548 14,035,191 13,607,548
Time-based vesting restricted stock units        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total common stock equivalents 563,811 1,016,297 563,811 1,016,297
Performance stock units        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total common stock equivalents 4,500,000 5,400,000 4,500,000 5,400,000
Contingently issuable stock        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total common stock equivalents 250,000 506,243 250,000 506,243
v3.25.3
RELATED-PARTY TRANSACTIONS (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 28, 2025
Sep. 28, 2025
Sep. 29, 2024
Related Party | Dairy, LLC | Chief Financial Officer      
Related Party Transaction [Line Items]      
Payments to related parties $ 1.0 $ 3.8 $ 3.1
v3.25.3
SEGMENT REPORTING (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 28, 2025
USD ($)
Sep. 29, 2024
USD ($)
Sep. 28, 2025
USD ($)
segment
Sep. 29, 2024
USD ($)
Segment Reporting, Asset Reconciling Item [Line Items]        
Operating segments | segment     1  
Reportable segments | segment     1  
Operating support center cost     $ 77,972 $ 81,422
Total stock-based compensation $ 5,811 $ 9,685 24,032 30,214
Other expenses     1,738 1,208
Total General and administrative 30,900 36,777 $ 103,742 $ 112,844
Reportable Segment        
Segment Reporting, Asset Reconciling Item [Line Items]        
Operating support center cost 24,089 26,372    
Total stock-based compensation 5,811 9,685    
Other expenses 1,000 720    
Total General and administrative $ 30,900 $ 36,777    
v3.25.3
SUBSEQUENT EVENTS (Details) - Subsequent Event - Forecast
shares in Millions, $ in Millions
 3 Months Ended
Dec. 28, 2025
USD ($)
shares
Subsequent Event [Line Items]  
Consideration of sale $ 186.4
Proceeds from sale of business $ 100.0
Consideration, equity amount (in shares) | shares 86.4