SWEETGREEN, INC., 10-K filed on 2/27/2025
Annual Report
v3.25.0.1
Cover - USD ($)
$ in Billions
 12 Months Ended
Dec. 29, 2024
Feb. 24, 2025
Jun. 24, 2022
Entity Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Current Fiscal Year End Date --12-29    
Document Period End Date Dec. 29, 2024    
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 Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
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    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 2.2
Documents Incorporated by Reference
Portions of the registrant’s definitive Proxy Statement for the 2025 Annual Meeting of Stockholders to be filed with the U.S. Securities and Exchange Commission not later than 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K are incorporated by reference in Part III, Items 10-14 of this Annual Report on Form 10-K.
    
Entity Central Index Key 0001477815    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Amendment Flag false    
Class A common stock      
Entity Information [Line Items]      
Entity Common Stock, Shares Outstanding   105,387,456  
Class B common stock      
Entity Information [Line Items]      
Entity Common Stock, Shares Outstanding   11,915,758  
v3.25.0.1
Audit Information
 12 Months Ended
Dec. 29, 2024
Auditor Information [Abstract]  
Auditor Name Deloitte & Touche LLP
Auditor Location Los Angeles, California
Auditor Firm ID 34
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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 29, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 214,789 $ 257,230
Accounts receivable 5,034 3,502
Inventory 1,987 2,069
Prepaid expenses 7,844 5,767
Current portion of lease acquisition costs 93 93
Other current assets 4,790 7,450
Total current assets 234,537 276,111
Operating lease assets 257,496 243,992
Property and equipment, net 296,485 266,902
Goodwill 35,970 35,970
Intangible assets, net 24,040 27,407
Security deposits 1,419 1,406
Lease acquisition costs, net 333 426
Restricted cash 2,640 125
Other assets 3,838 4,218
Total assets 856,758 856,557
Current liabilities:    
Current portion of operating lease liabilities 41,773 31,426
Accounts payable 18,698 17,380
Accrued expenses 26,564 20,845
Accrued payroll 14,716 13,131
Gift cards and loyalty liability 4,413 2,797
Other current liabilities 9,663 6,000
Total current liabilities 115,827 91,579
Operating lease liabilities, net of current portion 288,941 271,439
Contingent consideration liability 5,311 8,350
Other non-current liabilities 173 819
Deferred income tax liabilities 361 1,773
Total liabilities 410,613 373,960
COMMITMENTS AND CONTINGENCIES (Note 14)
Stockholders’ (deficit) equity:    
Common stock, $0.001 par value, 2,000,000,000 Class A shares authorized, 105,200,553 and 99,700,052 Class A shares issued and outstanding as of December 29, 2024 and December 31, 2023, respectively; 300,000,000 Class B shares authorized and 11,915,758 and 12,939,094 Class B shares issued and outstanding as of December 29, 2024 and December 31, 2023, respectively. 117 113
Additional paid-in capital 1,321,386 1,267,469
Accumulated deficit (875,358) (784,985)
Total stockholders’ (deficit) equity 446,145 482,597
Total liabilities and stockholders’ (deficit) equity $ 856,758 $ 856,557
v3.25.0.1
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Dec. 29, 2024
Dec. 31, 2023
Common Class A    
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, shares issued (in shares) 105,200,553 99,700,052
Common stock, shares outstanding (in shares) 105,200,553 99,700,052
Common Class B    
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 300,000,000 300,000,000
Common stock, shares issued (in shares) 11,915,758 12,939,094
Common stock, shares outstanding (in shares) 11,915,758 12,939,094
v3.25.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Revenue $ 676,826 $ 584,041 $ 470,105
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):      
Total restaurant operating costs 543,877 482,121 400,819
Operating expenses:      
General and administrative 149,942 146,762 187,367
Depreciation and amortization 67,346 59,491 46,471
Pre-opening costs 6,616 9,263 11,523
Impairment and closure costs 2,218 624 2,542
Loss on disposal of property and equipment 255 687 278
Restructuring charges 2,276 7,437 14,442
Total operating expenses 228,653 224,264 262,623
Loss from operations (95,704) (122,344) (193,337)
Interest income (10,942) (12,942) (5,143)
Interest expense 256 128 83
Other expense 6,656 3,475 819
Net loss before income taxes (91,674) (113,005) (189,096)
Income tax (benefit) expense (1,301) 379 1,345
Net loss $ (90,373) $ (113,384) $ (190,441)
Earnings per share:      
Net loss per share basic (in dollars per share) $ (0.79) $ (1.01) $ (1.73)
Net loss per share diluted (in dollars per share) $ (0.79) $ (1.01) $ (1.73)
Weighted average shares used in computing net loss per share basic (in shares) 114,321,672 111,907,675 110,128,287
Weighted average shares used in computing net loss per share diluted (in shares) 114,321,672 111,907,675 110,128,287
Food, beverage, and packaging      
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):      
Total restaurant operating costs $ 185,367 $ 161,725 $ 130,136
Labor and related expenses      
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):      
Total restaurant operating costs 188,867 171,306 147,474
Occupancy and related expenses      
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):      
Total restaurant operating costs 59,536 54,281 45,238
Other restaurant operating costs      
Restaurant operating costs (exclusive of depreciation and amortization presented separately below):      
Total restaurant operating costs $ 110,107 $ 94,809 $ 77,971
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CONSOLIDATED STATEMENTS OF PREFERRED STOCK AND STOCKHOLDERS’ (DEFICIT) EQUITY - USD ($)
$ in Thousands
Total
Cumulative-effect adjustment
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Deficit
Cumulative-effect adjustment
Beginning balance (in shares) at Dec. 26, 2021     109,345,697      
Beginning balance at Dec. 26, 2021 $ 653,117 $ (4,944) $ 109 $ 1,129,224 $ (476,216) $ (4,944)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net loss (190,441)       (190,441)  
Issuance of common stock related to restricted shares (in shares)     829,679      
Issuance of common stock related to restricted shares 0   $ 1 (1)    
Stock-based compensation expense 78,736     78,736    
Exercise of stock options (in shares)     957,617      
Exercise of stock options 4,758   $ 1 4,757    
Ending balance (in shares) at Dec. 25, 2022     111,132,993      
Ending balance at Dec. 25, 2022 $ 541,226   $ 111 1,212,716 (671,601)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Accounting Standards Update [Extensible Enumeration] Accounting Standards Update 2016-02 [Member]          
Net loss $ (113,384)       (113,384)  
Issuance of common stock related to restricted shares (in shares)     587,078      
Issuance of common stock related to restricted shares 0   $ 0 0    
Stock-based compensation expense $ 49,532     49,532    
Exercise of stock options (in shares) 929,963   929,963      
Exercise of stock options $ 5,389   $ 2 5,387    
Shares repurchased for employee tax withholding (in shares)     (10,888)      
Shares repurchased for employee tax withholding (166)     (166)    
Ending balance (in shares) at Dec. 31, 2023     112,639,146      
Ending balance at Dec. 31, 2023 482,597   $ 113 1,267,469 (784,985)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net loss (90,373)       (90,373)  
Issuance of common stock related to restricted shares (in shares)     479,078      
Stock-based compensation expense 39,024     39,024    
Issuance of common stock related to performance stock units $ 2   $ 2      
Issuance of common stock related to performance stock units (in shares) 1,800,000          
Issuance of common stock related to Spyce milestone achievement $ 2,132     2,132    
Issuance of common stock related to Spyce milestone achievement (in shares) 208,042          
Exercise of stock options (in shares) 1,990,576   1,990,576      
Exercise of stock options $ 12,765   $ 2 12,763    
Shares repurchased for employee tax withholding (in shares)     (531)      
Shares repurchased for employee tax withholding (2)     (2)    
Ending balance (in shares) at Dec. 29, 2024     117,116,311      
Ending balance at Dec. 29, 2024 $ 446,145   $ 117 $ 1,321,386 $ (875,358)  
v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Cash flows from operating activities:      
Net loss $ (90,373) $ (113,384) $ (190,441)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 67,346 59,491 46,471
Amortization of lease acquisition costs 93 92 93
Amortization of loan origination fees 71 55 126
Amortization of cloud computing arrangements 914 880 224
Operating lease cost 31,475 29,113 28,447
Loss on disposal of property and equipment 255 687 278
Stock-based compensation 39,024 49,532 78,736
Impairment and closure costs 1,835 90 2,542
Non-cash restructuring charges 701 5,281 13,026
Deferred income tax (benefit) expense (1,412) 358 1,290
Change in fair value of contingent consideration 6,624 3,475 819
Changes in operating assets and liabilities:      
Account receivable (1,532) (258) (600)
Inventory 82 (686) (480)
Prepaid expenses and other current assets (22) (3,789) (2,637)
Operating lease liabilities (18,318) (22,290) (13,955)
Accounts payable 759 9,871 (4,546)
Accrued payroll and benefits 1,585 6,551 (8,013)
Accrued expenses 3,313 1,163 5,732
Gift card and loyalty liability 1,616 781 177
Other non-current liabilities (646) (533) (458)
Net cash provided by (used in) operating activities 43,390 26,480 (43,169)
Cash flows from investing activities:      
Purchase of property and equipment (84,457) (89,672) (96,889)
Purchase of intangible assets (7,741) (6,115) (5,376)
Security and landlord deposits (13) 122 242
Net cash used in investing activities (92,211) (95,665) (102,023)
Cash flows from financing activities:      
Proceeds from stock option exercise 12,765 5,388 4,758
Payment of contingent consideration (3,868) (10,421) 0
Payment of loan origination fees 0 0 (126)
Payment associated to shares repurchased for tax withholding (2) (166) 0
Net cash (used in) provided by financing activities 8,895 (5,199) 4,632
Net decrease in cash and cash equivalents and restricted cash (39,926) (74,384) (140,560)
Cash and cash equivalents and restricted cash—beginning of year 257,355 331,739 472,299
Cash and cash equivalents and restricted cash—end of year 217,429 257,355 331,739
Supplemental disclosure of cash flow:      
Cash paid for interest 184 50 0
Non-cash investing and financing activities:      
Purchase of property and equipment accrued in accounts payable and accrued expenses 9,791 6,824 7,980
Stock Issued $ 2,132 $ 0 $ 0
v3.25.0.1
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Dec. 29, 2024
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 December 29, 2024, the Company owned and operated 246 restaurants in 22 states and Washington, D.C. The Company had 25 Net New Restaurant Openings in fiscal year 2024.
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, “Segment Reporting”.

Principles of Consolidation—The accompanying 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 last Sunday of the calendar year. Fiscal years 2024 and 2022 were 52-week periods that ended December 29, 2024 and December 25, 2022, respectively. Fiscal year 2023 was a 53-week period that ended December 31, 2023. 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 consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). The preparation of 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 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 (“ROU 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 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 December 29, 2024 and December 31, 2023, were $2.3 million and $3.0 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 consolidated balance sheets to the total amount shown in its consolidated statements of cash flows is as follows:
(dollar amounts in thousands)December 29,
2024		December 31,
2023
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents
$214,789 $257,230 
Restricted cash, non-current
2,640 125 
Total cash, cash equivalents and restricted cash shown on statement of cash flows
$217,429 $257,355 
Approximately $2.5 million of the restricted cash balance as of December 29, 2024 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.
Concentrations of Risk— The Company maintains cash balances at several financial institutions located in the United States. The cash balances may, at times, exceed federally insured limits. Accounts are guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) up to $0.3 million.
As of December 29, 2024, December 31, 2023, and December 25, 2022, approximately 25%, 28%, and 32%, respectively, of the Company’s revenue was generated from the Company’s restaurants located in the New York City metropolitan area.

Other Current Assets— Other current assets primarily consist of the Employee Retention Credit “ERC”, outstanding receivables from the Company’s distributors and current amortization of deferred costs.

Other Assets— Other Assets primarily consist of deferred costs, which are capitalized implementation costs from cloud computing arrangements in relation the Company’s enterprise resource planning system (“ERP”). These costs amounted to $3.8 million and $4.2 million as of December 29, 2024 and December 31, 2023 and were recorded within other assets in the consolidated balance sheets. The amortization of these costs are recognized within the Company’s consolidated statement of operations under general and administrative expenses over a useful life of seven years.

Accounts Receivable— Accounts receivable primarily consists of receivables from distributors and receivables from the Company’s Marketplace and Outpost and Catering Channels.
Inventory— Inventory, consisting primarily of food, beverages and supplies, is valued at the lower of cost first-in, first-out cost or net realizable value.
Prepaid Expenses— Prepaid expenses primarily include prepaid office systems, which we amortize over the life of the contract, and prepaid insurance, which is expensed in the period for which it relates.
Property and Equipment—Property and equipment are recorded at cost. Property and equipment are depreciated using the straight-line method over the following estimated useful lives:
Property and EquipmentUseful Life
Leasehold improvements
Shorter of lease term or estimated asset life
Furniture and fixtures
5 years
Kitchen equipment
5 - 10 years
Computers and other equipment
3 years
Upon retirement or disposal of assets, the accounts are relieved of cost and accumulated depreciation and any related gain or loss is reflected in loss on disposal of property and equipment in the consolidated statement of operations. Assets to be disposed consists of primarily furniture, equipment and fixtures that were replaced in the normal course of business and are reported at the lower of their carrying amount or fair value less estimated cost to sell.
Expenditures for repairs and maintenance are charged directly to expense when incurred. The cost of assets sold, retired, or otherwise disposed of, and the related accumulated depreciation and amortization are eliminated from the accounts, and any resulting gain or loss is included in earnings.
The Company capitalizes certain directly attributable internal costs in conjunction with the acquisition, development and construction of future restaurants, after the restaurant construction is past the planning stage and it is considered probable that the restaurant will open. These costs are included in property and equipment and amortized over the shorter of the life of the related buildings and leasehold improvements or the lease term. Costs related to abandoned sites and other site selection costs that cannot be identified with specific restaurants are charged to general and administrative expenses in the accompanying consolidated statements of operations, and were $0.2 million, $0.3 million and $0.9 million for each of the fiscal years ended December 29, 2024, December 31, 2023 and December 25, 2022, respectively. The Company capitalized internal costs related to site selection and construction activities of $4.6 million and $4.7 million for the fiscal years ended December 29, 2024 and December 31, 2023, respectively.
On September 7, 2021, the Company closed its acquisition of Spyce, a Boston-based restaurant company powered by automation technology, allowing the Company to serve its food in its restaurants via automation (see Note 3). Automated technology associated with the Company’s Infinite Kitchen is included in kitchen equipment within property and equipment. Total research and development was $1.0 million, $1.2 million and $2.0 million for the fiscal years ended December 29, 2024, December 31, 2023 and December 25, 2022, respectively. These costs are primarily costs incurred to develop and improve the Infinite Kitchen, and are recorded within general and administrative costs in the Company’s accompanying consolidated statement of operations.

Restructuring Charges— Restructuring charges are expenses that are paid in connection with reorganization of the Company’s operations during fiscal year 2022 as well as the amortization of the underlying operating lease asset and related real estate and common area maintenance fees (“CAM”) charges. Additionally, in conjunction with the Company’s implementation of ASC Topic 842 (“ASC 842”), operating lease assets were evaluated for impairment, and any impairment charges incurred in relation to the assets impacted by the Company’s restructuring was considered a restructuring charge.

For fiscal year 2022, the Company incurred total pre-tax restructuring and related charges of approximately $14.4 million. This included a $13.0 million non-cash restructuring expense, due to a reduction of the Company’s real estate footprint by vacating the premises of the Company’s existing Sweetgreen Support Center and moving to a smaller office space adjacent to the existing location, of which $6.8 million related to impairment of long-lived assets and $5.8 million and $0.4 million related to impairment of the Company’s operating lease asset and closure costs, respectively, associated with the Sweetgreen Support Center, $0.6 million of severance and related benefits from workforce reductions affecting approximately 5% of employees at the Sweetgreen Support Center, $0.6 million of costs related to abandoning certain potential future restaurant sites in an effort to streamline the Company’s future new restaurant openings, and $0.2 million of other related expenses.

For fiscal years 2024 and 2023, stemming from the 2022 reorganization, the Company recorded restructuring charges of $2.3 million and $7.4 million, respectively, primarily related to operating lease asset impairment costs recognized in fiscal year 2023 from the Company’s vacated former Sweetgreen Support Center as well as the amortization of the underlying operating lease asset and related real estate and common area maintenance fees (“CAM”) charges. Total operating lease costs included in restructuring charges for fiscal years for 2024 and 2023 were $1.5 million and $1.8 million, respectively, and total variable leases costs included in restructuring charges for fiscal years 2024 and 2023 were $0.5 million and $0.5 million, respectively.
Contingent Consideration—Due to certain conversion features, the contingent consideration issued as part of the Spyce acquisition is considered a liability in accordance with ASC 480. The liability associated with the contingent consideration is initially recorded at fair value (see Note 3 for further details) upon issuance date and is subsequently re-measured to fair value at each reporting date. The initial fair value of the liability for the contingent consideration was $16.4 million and was included as part of the purchase price for the Spyce acquisition. The fair value of the liability 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 fair value of the liability as of December 31, 2023 was $8.4 million and included in contingent consideration liability within the consolidated balance sheets. See Note 3.

Changes in fair value of the contingent consideration is recognized within other expense in the accompanying consolidated statement of operations.
Other Current Liabilities—The other current liabilities is comprised of the short-term portion of the contingent consideration liability. See Note 3.
Goodwill—Goodwill, which represents the excess of the cost of an acquired entity over the fair value of the acquired net assets, has an indefinite life and, accordingly, is not amortized. The Company has one reporting unit. The Company tests goodwill for impairment annually, or more frequently if events or changes in circumstances indicate that the asset may be impaired.
The Company reviews goodwill for impairment utilizing either a qualitative assessment or a fair value test by comparing the fair value of its reporting unit with its carrying amount. If the Company decides that it is appropriate to perform a qualitative assessment and concludes that the fair value of its reporting unit more likely than not exceeds its carrying value, no further evaluation is necessary. If the Company performs the fair value test, the Company will compare the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired. If the carrying amount of a reporting unit exceeds its fair value, the Company will recognize an impairment charge for the amount by which the carrying amount exceeds its reporting unit’s fair value.
The Company performed the qualitative assessment above and concluded that the fair value of the reporting unit is more likely than not to exceed the carrying value, and did not record any impairment charges related to the carrying amount of goodwill during the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022.
Fair value estimates are subject to change as a result of many factors, including changes in business plans, economic conditions, and the competitive environment, among others. Should actual cash flows and the Company’s future estimates vary adversely from current estimates, the Company may be required to recognize goodwill impairment charges in future years.
Intangible Assets, net— External costs and certain internal costs, including payroll and payroll-related costs for employees, directly associated with developing computer software applications for internal use are capitalized subsequent to the preliminary stage of development as well as developed technology associated with the Company’s Infinite Kitchen. Internal-use software costs are amortized using the straight-line method over a three year estimated useful life of the software when the project is substantially complete and ready for its intended use.
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.

Lease Acquisition Costs— Lease acquisition costs included key money which is the amount of funds paid to a landlord or tenant to acquire the rights of tenancy under a commercial property lease. These costs are amortized over the respective lease terms that range from 10 to 15 years and are presented net of accumulated amortization.
Revenue Recognition—The Company recognizes food and beverage revenue, net of discounts and incentives, when payment is tendered at the point of sale as the performance obligation has been satisfied, through the Company’s three disaggregated revenue channels: Owned Digital Channels, In Store-Channel (Non-Digital component), and Marketplace Channel.

Owned Digital Channels encompasses the Company’s Pick-Up Channel, Native Delivery Channel, Outpost and Catering Channel, and purchases made in its In-Store Channel via digital scan-to-pay, prior to the elimination of digital scan-to-pay during the fiscal quarter ended September 24, 2023. Pick-Up Channel refers to sales to customers made for pick-up at one of the Company’s restaurants through the Sweetgreen website or mobile app. Native Delivery Channel refers to sales to customers for delivery made through the Sweetgreen website or
mobile app. Outpost and Catering Channel refers to sales to customers for delivery made through the Sweetgreen website or mobile app to Outposts, which are the Company’s offsite drop-off points at offices, residential buildings and hospitals. In addition, the Company’s Outpost and Catering Channel includes the Company’s catering offerings, which refer to sales to customers made through the Company’s catering website for pickup at one of the Company’s restaurants or delivery to a customer-specified address.
In-Store Channel (Non-Digital component) refers to sales to customers who make in-store purchases in the Company’s restaurants, whether they pay by cash or credit card, or digital scan-to-pay. Purchases made in the Company’s In-Store Channel via cash or credit card are referred to as “Non-Digital” transactions, and purchases made in the Company’s In-Store Channel via digital scan-to-pay, prior to its elimination in 2023, were included as part of the Company’s Owned Digital Channels.
Marketplace Channel refers to sales to customers for delivery or pick-up made through third-party delivery marketplaces, including DoorDash, Grubhub, Uber Eats, ezCater, Sharebite and others.
Provisions for discounts are provided for in the same period the related sales are recorded. Sales taxes and other taxes collected from customers and remitted to governmental authorities are presented on a net basis, and as such, are excluded from revenues.
Gift Cards—The Company sells gift cards that do not have an expiration date. Upon sale, gift cards are recorded as unearned revenue and included within gift card liability in the accompanying consolidated balance sheets. The revenue from gift cards is recognized when redeemed by customers. Because the Company does not track addresses of gift card purchasers, the relevant jurisdiction related to the requirement for escheatment, the legal obligation to remit unclaimed assets to the state, is the Company’s state of incorporation, which is Delaware. The state of Delaware requires escheatment after 5 years from issuance. The Company does not recognize breakage income because of its requirements to escheat unredeemed gift card balances.
Delivery—The majority of the Company’s restaurant locations offer a delivery option. Delivery services are fulfilled by third-party service providers whether delivery is ordered through the Company’s Native Delivery Channel or Marketplace Channel. With respect to Native Delivery sales, the Company controls the delivery services and recognizes revenue, including delivery revenue, when the delivery partner transfers food or beverage to the customer. For these sales, the Company receives payment directly from the customer at the time of sale. With respect to Marketplace Channel sales, the Company recognizes revenue, excluding delivery fees collected by the delivery partner as the Company does not control the delivery service, when control of the food is delivered to the end customer. The Company receives payment from the delivery partner subsequent to the transfer of food and the payment terms are short-term in nature. For all delivery sales, the Company is considered the principal and recognize the revenue on a gross basis.
Income Taxes—The Company is subject to federal and state income taxes. The Company uses the asset and liability method of accounting for income taxes as set forth in ASC 740, Income Taxes. Under this method, the Company recognizes deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the respective carrying amounts and tax basis of assets and liabilities. All deferred tax assets and liabilities are classified as non-current in the accompanying consolidated balance sheet. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is established against the portion of deferred tax assets that the Company believes will not be realized on a more-likely-than-not basis.
With respect to uncertain tax positions, the Company recognizes in its consolidated financial statements those tax positions determined to be “more likely than not” of being sustained upon examination, based on the technical merits of the positions. For those tax positions where it is “not more likely than not” that a tax benefit will be sustained, no tax benefit is recognized. The Company’s policy is to recognize, when applicable, interest and penalties on uncertain tax positions as part of income tax expense.
Fair Value of Financial Instruments—The fair value measurement accounting guidance creates a fair value hierarchy to prioritize the inputs used to measure fair value into three categories. A financial instrument’s level
within the fair value hierarchy is based on the lowest level of input significant to the fair value measurement, where Level 1 is the highest category (observable inputs) and Level 3 is the lowest category (unobservable inputs). The three levels are defined as follows:
Level 1—Quoted prices for identical instruments in active markets.
Level 2—Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations in which significant value drivers are observable.
Level 3—Unobservable inputs for the asset or liability. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.
The carrying amount of accounts receivable, other current assets, accounts payable, accrued payroll and accrued expenses approximates fair value due to the short-term maturity of these financial instruments. The Company’s contingent consideration liability is carried at fair value determined using Level 3 inputs in the fair value. See Note 3.
Certain assets and liabilities are measured at fair value on a nonrecurring basis. In other words, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances (for example, when there is evidence of impairment). See Note 3.
Impairment and Closure Costs— Impairment includes impairment charges related to our long-lived assets, which include property and equipment and internally developed software, and subsequent to the adoption of ASC 842, operating lease assets. Long-lived assets are reviewed for recoverability at the lowest level in which there are identifiable cash flows (“asset group”). The asset group is at the store-level for restaurant assets and the corporate-level for corporate assets. The carrying amount of a store asset group includes stores’ property and equipment, primarily leasehold improvements, and operating lease assets, net of operating lease liability. The carrying amount of a corporate-level asset group includes Support Center property and equipment, operating lease assets, internally developed software and internally developed technology. Long-lived assets are reviewed by management for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be fully recoverable. When events or circumstances indicate that impairment may be present, management evaluates the probability that future undiscounted net cash flows received will be less than the carrying amount of the asset group. If projected future undiscounted cash flows are less than the carrying value of an asset group, then such assets are written down to their fair values. The Company uses a discounted cash flow model to measure the fair value of an asset group. An impairment charge will be recognized in the amount by which the carrying amount of the store asset group exceeds its fair value. The resulting impairment charge, if any, is allocated to the property and equipment, primarily leasehold improvements, and operating lease assets on a pro rata basis using the relative carrying amounts of those assets. The allocated impairment charge to a long-lived asset is limited to the extent that the impairment charge does not reduce the carrying amount of the long-lived asset below its individual fair value. The estimation of the fair value of an operating lease asset primarily involves the evaluation of current and future market value rental amounts, which are primarily based on recent observable market rental data. The fair value of an operating lease asset is measured using a discounted cash flow valuation technique by discounting the estimated current and future market rental values using a property-specific discount rate.

A number of significant assumptions and estimates are involved in the application of the model to forecast operating cash flows, which are largely unobservable inputs, including future revenue projections. Accordingly, such significant assumptions are classified as Level 3 inputs within the fair value hierarchy. Assumptions used in these forecasts are consistent with internal planning, and include sales growth rates, gross margins, and operating expense in relation to the current economic environment and the Company’s future expectations, competitive factors in its various markets, inflation, sales trends and other relevant economic factors that may impact the store under evaluation. In addition, assumptions used for operating lease assets vacated for future sublease include the Company’s estimated future sublease income and a property specific discount rate. There is uncertainty in the projected undiscounted future cash flows used in the Company’s impairment review analysis, which requires the use of estimates and assumptions. If actual performance does not achieve the projections, or if the assumptions used change in the future, the Company may be required to recognize impairment charges in future periods, and such charges could be material.
The Company determined that triggering events, primarily related to the impact of changing customer behavior trends, including slower than expected return to office and as a result of broader macroeconomic conditions on the Company’s near-term restaurant level cash flow forecast, restructuring activities and anticipated store closures, occurred for certain restaurants and its Support Center, that required an impairment review of the Company’s long-lived assets. No indicators of impairment were found for the Company’s intangible assets for the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022.

Based on the results of the analysis, for the fiscal year ended December 29, 2024, the Company recorded non-cash impairment charges of $1.7 million associated with one store location, which was recorded in impairment and closure costs within the consolidated statement of operations. Of the $1.7 million total non-cash impairment, $1.3 million was related to property and equipment, and $0.4 million was related to operating lease assets. During the fiscal year ended December 31, 2023, the Company recorded non-cash impairment charges of $4.3 million, related to the operating lease asset for the Company’s former Sweetgreen Support Center vacated previously during fiscal year 2022, which was recorded under restructuring charges within the consolidated statement of operations. During the fiscal year ended December 25, 2022 the Company recorded non-cash impairment charge of $15.0 million, of which $8.8 million was related to property and equipment and $6.2 million was related to operating lease assets. Of the $8.8 million of property and equipment impairment, $6.8 million was associated with the Company’s vacated former Sweetgreen Support Center and was recorded in restructuring charges within the consolidated statement of operations, and $2.0 million was associated with certain store locations and was recorded in impairment and closure costs within the consolidated statement of operations. Of the $6.2 million of operating lease impairment, $5.8 million was associated with the Company’s vacated Sweetgreen Support Center and was recorded in restructuring charges within the consolidated statement of operations, and $0.4 million was associated with certain store locations and was recorded in impairment and closure costs within the consolidated statement of operations. Of the $15.0 million total non-cash impairment expense, $12.6 million was included within restructuring charges and $2.4 million was included within impairment and closure costs within the consolidated statement of operations.

Closure costs include lease and related costs associated with closed restaurants including the amortization of the operating lease asset, and expenses associated with common area maintenance fees and real estate taxes for previously impaired stores. During the fiscal year ended December 29, 2024, the Company recognized closure costs of $0.5 million related to the amortization of the operating lease asset and expenses associated with CAM and real estate taxes for previously closed stores, including three previously impaired stores that were closed during the fiscal year ended December 31, 2023. During the fiscal year ended December 25, 2022, the Company closed one store operated by Spyce, which was fully impaired in a prior period. This closure resulted in closure costs of $0.5 million.

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 Company evaluates contracts entered into to determine whether the contract involves the use of property or equipment, which is either explicitly or implicitly identified in the contract. The Company evaluates whether it controls the use of the asset, which is determined by assessing whether it obtains substantially all economic benefits from the use of the asset, and whether it has the right to direct the use of the asset. If these criteria are met and the contract is identified as a lease, then the Company accounts for the contract under the requirements of ASC 842. The Company also evaluates whether the lease will be accounted for as an operating or finance lease based on the terms of the lease agreement, and when determining the lease term, the Company includes reasonably certain option renewal periods. Many of the Company's leases require payment of real estate taxes, CAM costs and other occupancy costs which are included in occupancy and related expenses on the consolidated statements of operations. Some of the Company’s operating leases include provisions for payment of a fixed CAM amount per annum, and as such, these payments have been included in the calculation of the operating lease liability.

The Company measured the lease liability by discounting the future fixed contractual payments included in the lease agreement, using either the rate explicit in the lease or its incremental borrowing rate (“IBR”). The IBR used to measure the lease liability is derived from the yield curve commensurate with the credit rating of the
Company and further adjusted for seniority based on a notching analysis. The most significant assumption in calculating the IBR is the Company’s credit rating, and the IBR is also subject to judgment.

For leases with a lease term of 12 months or less ("short-term lease"), any fixed lease payments are recognized on a straight-line basis over such term, and are not recognized on the consolidated balance sheets.

Certain leases contain provisions for contingent rent that require additional rental payments based upon restaurant sales volume. Contingent rent is expensed each period as the liability is incurred, and is not included in the initial measurement of operating lease assets and liabilities.

The Company receives tenant improvement allowances, generally in the form of cash, from some of the landlords of its leased properties. The tenant improvement allowances that are expected to be received are included in the measurement of the initial operating lease liability, which are also reflected as a reduction to the initial measurement of the right-of-use asset and amortized over the applicable lease terms.
Contingencies—The Company is subject to various claims, lawsuits, governmental investigations, and administrative proceedings that arise in the ordinary course of business. The Company accrues a liability (which includes litigation costs expected to be incurred) and recognizes an expense for such matters when it is probable that a liability has been incurred and the amount can be reasonably estimated. Estimating liabilities and costs associated with these matters require significant judgment based upon the professional knowledge and experience of management and its legal counsel.
Marketing and Public Relations—Marketing costs, which include the development and production of advertising materials and online marketing tools, are expensed in the period incurred. Marketing expense directly attributable to an individual restaurant is included within other restaurant operating costs. Marketing expense for the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022 was $16.9 million, $14.3 million and $14.5 million, respectively, of which $13.2 million, $10.7 million and $10.9 million, respectively, is included in general and administrative expense, $3.3 million, $3.1 million and $2.7 million, respectively, is included in other restaurant operating costs and $0.4 million, $0.5 million, and $1.0 million is included in preopening costs in the accompanying consolidated statements of operations.
Restaurant Operating Costs—Restaurant operating costs primarily consist of food, beverage, packaging costs for to-go orders, salaries, benefits, and other expenses related to the Company’s in-store employees, maintenance and utilities at the Company’s restaurants, leasing costs for the Company’s restaurants and delivery and processing fees.
Operating Expenses— Operating expenses primarily consist of operations, finance, legal, human resources, administrative personnel, stock-based compensation, depreciation and amortization of assets, and pre-opening costs. Pre-opening costs primarily consist of rent, wages, travel for training and store opening teams, food and other restaurant costs that the Company incurs prior to the opening of a restaurant. These costs are expensed as incurred.
Stock-Based Compensation—The Company recognizes compensation expense resulting from stock-based payments over the period for which the requisite services are provided. The Company uses the Black-Scholes-Merton (“Black-Scholes”) option-pricing model to estimate the fair value of the incentive stock options at the measurement date. Grant date is deemed to be the appropriate measurement date for stock options issued to employees and nonemployees. The use of the Black-Scholes option-pricing model requires the use of subjective assumptions, including the fair value and projected volatility of the underlying common stock and the expected term of the award.
For all stock options granted, the Company calculated the expected term using the simplified method for “plain vanilla” stock option awards. The risk-free interest rate is based on the yield available on U.S. Treasury zero-coupon issues similar in duration to the expected term of the stock-based award. The Company’s common stock has not been publicly traded over the full expected term, and therefore, the Company used the historical volatility of the stock price of similar publicly traded peer companies. The Company utilized a dividend yield of zero, as it had no history or plan of declaring dividends on its common stock.
The grant date fair value of restricted stock units (“RSUs”) is estimated based on the fair value of the Company’s common stock on the date of grant. Prior to the Company’s initial public offering (“IPO”) in November 2021, RSUs granted by the Company vest upon the satisfaction of both a service-based vesting condition, which is typically four years, and a liquidity event-related performance vesting condition. The liquidity event-related performance vesting condition was achieved upon the consummation of the Company's IPO. Stock-based compensation related to the remaining service-based period after the liquidity event-related performance vesting condition was satisfied will be recorded over the remaining requisite service period using the accelerated attribution method. Since the Company’s IPO in November 2021, the Company only granted RSUs that vest upon the satisfaction of a service-based vesting condition and the compensation expense for these RSUs is recognized on a straight-line basis over the requisite service period.

The Company has granted founder performance-based restricted stock units (“founder PSUs”) that contain a market condition in the form of future stock price targets. The grant date fair value of the founder PSUs was determined using a Monte Carlo simulation model and the Company estimates the derived service period of the founder PSUs. The grant date fair value of founder PSUs containing a market condition is recorded as stock-based compensation over the derived service period using the accelerated attribution method. If the stock price goals are met sooner than the derived service period, any unrecognized compensation expenses related to the founder PSUs will be expensed during the period the stock price targets are achieved. Provided that each founder continues to be employed by the Company through the derived service period, stock-based compensation expense is recognized over the derived service period, regardless of whether the stock price goals are achieved.

Interest Income—Interest income consists of interest earned on cash and cash equivalents.
Interest Expense—Interest expense includes mainly the interest incurred on outstanding indebtedness, as well as amortization of deferred financing costs, mainly debt origination and commitment fees. Debt origination fees are amortized on a straight-line basis over the commitment period.
Net Loss Per Share—The Company calculated basic and diluted net loss per share by dividing income available to common stockholders by the weighted-average number of shares of common stock during each period.
Diluted net loss per share available to common shareholders was computed by giving effect to all potentially dilutive common stock equivalents outstanding for the period. In periods in which the Company reports a net loss available to common shareholders, diluted net loss per share available to common shareholders is the same as basic net loss per share available to common shareholders, since dilutive common shares are not assumed to have been issued if their effect is anti-dilutive. The Company reported net loss available to common shareholders for the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022.
Employee Benefit Plan— The Company sponsors a qualified 401(k) defined contribution plan (the “401k Plan”) covering eligible employees. Participants may contribute a portion of their annual compensation limited to a maximum annual amount set by the Internal Revenue Service. The Company previously matched 50% of an eligible employee’s contribution up to 3% of wages. An employee becomes eligible once the individual has worked at the Company for 6 months, has worked 500 or more hours, and is 21 years or older. The Company has temporarily paused this matching contribution, effective in the fourth fiscal quarter of 2022. For the fiscal year ended December 25, 2022 the matching contribution was $1.0 million.
Recently Adopted Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (“FASB”), issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves reportable segment disclosure primarily through enhanced disclosures about significant segment expenses. The Company adopted ASU No. 2023-07 during the year ended December 29, 2024. See Note 15 "Segment Reporting" in the accompanying notes to the consolidated financial statements for further detail for the expanded disclosures as a result of adopting ASU No. 2023-07.
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.

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 consolidated financial statements.
v3.25.0.1
REVENUE RECOGNITION
 12 Months Ended
Dec. 29, 2024
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
Nature of products and services
The Company has one revenue stream. See Note 1 for a description of the revenue recognition policies.
The following table presents the Company’s revenue for the fiscal years ended December 29, 2024, December 31, 2023 and December 25, 2022 disaggregated by significant revenue channel:
(dollar amounts in thousands)

December 29, 2024

December 31, 2023

December 25, 2022
Owned Digital Channels
$205,688 $212,872 $191,129 
In-Store Channel (Non-Digital component)
295,300 242,073 177,996 
Marketplace Channel
175,838 129,096 100,980 
Total Revenue
$676,826 $584,041 $470,105 
Gift Cards
Gift card liability included in gift card within the accompanying consolidated balance sheet was as follows:
(dollar amounts in thousands)December 29,
2024		December 31,
2023		 
December 25, 2022
Gift Card Liability
$4,385 $2,797 $2,016 
Revenue recognized from the redemption of gift cards that was included in gift card and loyalty liability at the beginning of the year was as follows:
(dollar amounts in thousands)Fiscal Year Ended December 29, 2024Fiscal Year Ended December 31, 2023Fiscal Year Ended December 25, 2022
Revenue recognized from gift card liability balance at the beginning of the year
$730 $480 $378 
v3.25.0.1
FAIR VALUE
 12 Months Ended
Dec. 29, 2024
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 December 29, 2024
Fair Value Measurements as of December 31, 2023
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
(dollar amounts in thousands)
Contingent consideration$14,974 — — 14,974 $8,350 — — 8,350 

Contingent consideration as of December 29, 2024 was $15.0 million of which $9.7 million is included in other current liabilities and $5.3 million is included in contingent consideration within the consolidated balance sheets. The fair value of the contingent consideration was determined based on significant inputs not observable in the market.
Contingent Consideration

On September 7, 2021, the Company closed its acquisition of Spyce Food Co. (“Spyce”), a Boston-based restaurant company powered by automation technology. In connection with the Company’s acquisition the former equity holders of Spyce may receive 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 IPO (the “Reference Price”), contingent on the achievement of certain performance milestones between the closing date of the acquisition and June 30, 2026. Additionally, the former equity holders of Spyce may receive true-up payments in cash, as described here. If as of the second anniversary of the closing date of the acquisition, the 30-Day Volume-Weighted Average Price of the Company’s Class A common stock (“VWAP Price”) is less than the Reference Price, then the Company shall pay to each former equity holder of Spyce that has continually held their respective portion of the 1,316,763 total shares of the Company’s Class A common stock issued in connection with the acquisition during such period, the delta between the Reference Price and the VWAP Price for the upfront portion of the purchase price (“true-up payment”). As of the second anniversary of the closing date of the acquisition, the Company calculated the delta between the Reference Price and the VWAP Price for the upfront portion of the purchase price as $13.62. This resulted in a true-up payment of $10.4 million, due to 570,249 shares that did not meet the continuous holding requirement. The $10.4 million true-up payment is included within financing in the Consolidated Statements of Cash Flows as the payment is less than the original fair value of contingent consideration.

Additionally, if as of the date of the achievement of any of the three milestones, the VWAP Price as of such milestone achievement date is less than the Reference Price, then the Company shall pay to each former equity holder of Spyce that is eligible to receive a milestone payment the delta between the Reference Price and the VWAP Price for the contingent consideration associated with such milestone. The contingent consideration, excluding the true-up payment, which was calculated as noted above, 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. Of this $6.0 million, $2.1 million was issued in Class A common stock, which resulted in 208,042 shares issued, and $3.9 million was issued in cash, based on a VWAP Price of $10.20. This amount became known as of December 31, 2023, and as the stock was issued and payment was made within one year from December 31, 2023, it was included in other current liabilities within the Consolidated Balance Sheets as of December 31, 2023. This amount was not disclosed as a level 3 estimate as of December 31, 2023 as it was a fixed and determinable amount as of December 31, 2023. The stock was issued and cash was paid during the fiscal year ended December 29, 2024.
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 26, 2021
$20,477 
Change in fair value819 
Balance—December 25, 2022
$21,296 
True-up payment(10,421)
Current portion of contingent consideration included in other current liabilities(6,000)
Change in fair value3,475 
Balance—December 31, 2023
$8,350 
Change in fair value6,624 
Balance—December 29, 2024
$14,974 
The following non-financial instruments were measured at fair value, on a nonrecurring basis, as of and for the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022 reflecting certain property and equipment and operating leases for which an impairment loss was recognized during the corresponding periods within impairment and closure costs and restructuring charges within the consolidated statement of operations. For the fiscal year ended December 29, 2024, the Company recorded non-cash impairment charges of $1.7 million associated with one store location, which was recorded in impairment and closure costs within the consolidated statement of operations. Of the $1.7 million total non-cash impairment, $1.3 million was related to property and equipment, and $0.4 million was related to operating lease assets.


  
Fair Value Measurements
at December 29, 2024
Fiscal Year Ended
December 29, 2024
 TotalLevel 1Level 2Level 3Impairment
Losses
(dollar amounts in thousands)
Certain property and equipment, net
$— $— $— $— $1,347 
Operating lease assets$6,001 $— $— $6,001 $389 
  
Fair Value Measurements
at December 31, 2023
Fiscal Year Ended
December 31, 2023
 TotalLevel 1Level 2Level 3Impairment
Losses
(dollar amounts in thousands)
Operating lease assets$5,719 $— $— $5,719 $4,291 
  
Fair Value Measurements
at December 25, 2022
Fiscal Year Ended
December 25, 2022
 TotalLevel 1Level 2Level 3Impairment
Losses
(dollar amounts in thousands)
Certain property and equipment, net
$— $— $— $— $8,821 
Operating lease assets$10,744 $— $— $10,744 $6,228 
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 we are closing the restaurant. For the operating lease assets’ fair value estimate as of December 29, 2024, December 31, 2023, and December 25, 2022 the Company estimated the sublease income through early fiscal 2032 and discounted such cash flows using a property specific discount rate of approximately 9.0% to 9.5%.
v3.25.0.1
PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 29, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT
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)December 29,
2024		December 31,
2023
Leasehold improvements
$303,035 $262,191 
Kitchen equipment
107,475 89,814 
Computers and other equipment
44,295 37,984 
Furniture and fixtures
43,045 36,692 
Assets not yet placed in service
38,047 26,269 
Total property and equipment
535,897 452,950 
Less: accumulated depreciation
(239,412)(186,048)
Property and equipment - net
$296,485 $266,902 
Depreciation expense for the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022 was $56.4 million, $49.5 million, and $38.8 million, respectively.

Loss on asset disposals for the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022, was $0.3 million, $0.7 million, and $0.3 million, respectively.
As of December 29, 2024, the Company had nine facilities under construction due to open during 2025. Depreciation commences after a store opens and the related assets are placed in service. December 31, 2023, the Company had seven facilities under construction, all of which were opened during fiscal year 2024. Depreciation commences after a store opens and the related assets are placed in service.
For the fiscal year ended December 29, 2024, the Company recorded non-cash impairment charges of $1.3 million within impairment and closure costs, within the consolidated statement of operations. The Company did not record any non-cash impairment charges for the fiscal year ended December 31, 2023. For the fiscal year ended December 25, 2022, the Company recorded non-cash impairment charges of $8.8 million, of which $2.0 million was recorded within impairment and closure costs and $6.8 million was recorded within restructuring charges within the consolidated statement of operations.
v3.25.0.1
INTANGIBLE ASSETS, NET
 12 Months Ended
Dec. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS, NET INTANGIBLE ASSETS, NET
The following table presents the Company’s intangible assets, net balances:
(dollar amounts in thousands)December 29,
2024		December 31,
2023
Internal use software$45,933 $38,336 
Developed technology20,050 20,050 
Total intangible assets65,983 58,386 
Accumulated amortization(41,943)(30,979)
Total$24,040 $27,407 

Amortization expense for the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022 was $11.0 million, $10.0 million, and $7.7 million, respectively. Estimated amortization for each of the next five years is as follows:
(dollar amounts in thousands)
2025$9,720 
20267,664 
20275,319 
20281,337 
Total
$24,040 
v3.25.0.1
ACCRUED EXPENSES
 12 Months Ended
Dec. 29, 2024
Payables and Accruals [Abstract]  
ACCRUED EXPENSES ACCRUED EXPENSES
Accrued expenses consist of the following:
(dollar amounts in thousands)December 29,
2024		December 31,
2023
Fixed asset accrual$5,983 $3,577 
Accrued general and sales tax
4,625 3,438 
Accrued settlements and legal fees
3,529 1,439 
Rent deferrals and accrued rent
1,220 1,330 
Accrued delivery fee
970 1,197 
Other accrued expenses
10,237 9,864 
Total accrued expenses
$26,564 $20,845 
v3.25.0.1
DEBT
 12 Months Ended
Dec. 29, 2024
Debt Disclosure [Abstract]  
DEBT DEBT
Credit 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. There have been no letters of credit issued, no borrowings, and no repayments under our credit facility during the fiscal years ended December 29, 2024, December 31, 2023, or December 25, 2022. The Company did not renew the Credit Facility in 2024 and it expired pursuant to its terms on December 13, 2024. As of December 29, 2024 and December 31, 2023, the Company had no outstanding balance under the Credit Facility.
As of December 31, 2023, the Company had unamortized loan origination fees of $0.1 million, which are included within the accompanying consolidated balance sheet in other current assets. The Company recognized $0.1 million of interest expense in both fiscal years 2024 and 2023, respectively, related to the amortization of loan origination fee
v3.25.0.1
LEASES
 12 Months Ended
Dec. 29, 2024
Leases [Abstract]  
LEASES LEASES
The components of lease cost were as follows:
(dollar amounts in thousands)ClassificationDecember 29, 2024December 31, 2023December 25, 2022
Operating lease costOccupancy and related expense
General and administrative expense
Pre-opening costs		51,576 48,168 43,722
Variable lease costOccupancy and related expense
General and administrative expense		12,219 11,055 7,958
Short term lease costOccupancy and related expense
General and administrative expense		612 422 145
Sublease incomeGeneral and administrative expense— (356)(711)
Total lease cost$64,407 $59,289 $51,114 
During the fiscal year ended December 29, 2024, the Company recorded a non-cash impairment charge related to operating lease assets of $0.4 million, which is recorded within impairment and closure costs in the consolidated financial statements. During the fiscal year ended December 31, 2023, the Company recorded non-cash impairment charges related to operating lease assets of $4.3 million, all of which is recorded within restructuring charges in the consolidated statement of operations. During fiscal year December 25, 2022, the Company recorded non-cash impairment charges related to operating lease assets of $6.2 million, of which $5.8 million is recorded within restructuring charges and $0.4 million is recorded within impairment and closure costs in the consolidated financial statements. See Note 1.

As of December 29, 2024, future minimum lease payments for operating leases consisted of the following:

(dollar amounts in thousands)
202561,431 
202661,647 
202758,124 
202852,188 
202950,261 
Thereafter
144,004 
Total
427,655 
Less: imputed interest96,941 
Total lease liabilities330,714 

As of December 29, 2024 the Company had additional operating lease commitments of $27.5 million for non-cancelable leases without a possession date, which the Company anticipates will commence in fiscal year 2025. 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 December 29, 2024 and December 31, 2023 is as follows:

December 29, 2024December 31, 2023
Weighted average remaining lease term (years):
Operating Leases7.327.41
Weighted average discount rate:
Operating Leases6.75 %6.51 %

Supplemental cash flow information related to leases as of December 29, 2024, December 31, 2023 and December 25, 2022 as follows:
December 29, 2024December 31, 2023December 25, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net of lease incentives$39,965 $42,425 $29,230 
Right of use assets obtained in exchange for lease obligations:
Operating leases$46,167 $24,416 $57.396 
Derecognition of operating lease assets due to termination or impairment
$389 $4,291 $6,228 
v3.25.0.1
COMMON STOCK
 12 Months Ended
Dec. 29, 2024
Equity [Abstract]  
COMMON STOCK COMMON STOCK
The Company has a dual class common stock structure, whereby the Class A common stock is entitled to one vote per share and the Class B common stock is entitled to 10 votes per share. The Class A and Class B common stock have the same dividend and liquidation rights. Any founder’s shares of Class B common stock will convert automatically into Class A common stock, on a one-to-one basis, upon either the (i) the sale or transfer of such share of Class B common stock (except for certain permitted transfers described in the Company’s amended and restated certificate of incorporation, including transfers for tax and estate planning purposes or to any other founder or any affiliate of any founder) or (ii) the one-year anniversary of the death or permanent disability of such founder.

Additionally, all outstanding shares of the Company’s Class B common stock will convert automatically into shares of the Company’s Class A common stock on the final conversion date, defined as the earlier of (i) the nine-month anniversary of the death or permanent disability of the last of the founders; (ii) the last trading day of the fiscal year during which the 10th anniversary of the effectiveness of the registration statement for the Company’s IPO occurs, and (iii) the date specified by a vote of the holders of a majority of the outstanding shares of Class B common stock; provided, however, that the final conversion date may be extended by the affirmative vote of the holders of the majority of the voting power of the then-outstanding shares of Class A common stock not held by a founder or an affiliate or permitted transferee of a founder and entitled to vote generally in the election of directors, voting together as a single class.

Class A and Class B common stock are collectively referred to as “common stock” throughout the notes to the consolidated financial statements, unless otherwise noted.


As of December 29, 2024 and December 31, 2023, the Company had reserved shares of common stock for issuance in connection with the following:
 December 29,
2024		December 31,
2023
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 Plan
13,169,869 13,219,388 
Shares reserved for achievement of Spyce milestones500,000 714,285 
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 Plan5,410,024 7,572,945 
Shares available for future issuance under the 2021 Equity Incentive Plan
8,516,216 10,572,899 
Total reserved shares of common stock
31,707,440 36,190,848 
v3.25.0.1
STOCK - BASED COMPENSATION
 12 Months Ended
Dec. 29, 2024
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. The total number of shares available for grant as of December 29, 2024, was
8,516,216. Options granted 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 board of directors, or a duly authorized committee of the Company’s board of directors. Options granted to members of the Company’s board of directors generally vest immediately.

All stock options, RSUs and performance based restricted stock awards (“PSUs”) granted prior to the 2021 Plan were rolled into the 2021 Plan. Awards granted prior to the adoption of the 2021 Plan had similar terms with each award vesting between one and 4 year period, and have a contractual life of 10 years.
Spyce Acquisition

In conjunction with the Spyce acquisition, 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. For the fiscal years ended December 31, 2023 and December 25, 2022, the Company recognized stock-based compensation expense of $2.4 million and $3.4 million, respectively, related to the vested portion of such shares.

2021 Employee Stock Purchase Plan

In conjunction with the IPO, the Company’s board of directors 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, beginning 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 Company’s board of directors 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 increased by 1,111,331 shares to 4,111,331 in accordance with the above.

As of December 29, 2024, 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 fiscal years ended December 29, 2024 and December 31, 2023, including options assumed pursuant to the Spyce Plan, as described above:
(dollar amounts in thousands except share and per share amounts)
Number of
Shares
Weighted-
Average
Exercise
Price Per
Share
Weighted-Average
Remaining
Contractual Term
(In Years)
Aggregate
Intrinsic
Value
Balance—December 25, 2022
13,813,922 $7.86 6.63$34,454 
Options granted
1,588,094 8.66 
Options exercised
(929,963)5.79 
Options forfeited
(1,081,299)11.25 
Options expired
(171,366)11.71 
Balance—December 31, 2023
13,219,388 $7.77 5.97$53,758 
Options granted
2,367,980 19.81 
Options exercised
(1,990,576)6.42 
Options forfeited
(374,453)15.71 
Options expired
(52,470)17.65 
Balance—December 29, 2024
13,169,869 9.88 6.04$297,037 
Exercisable—December 29, 2024
10,057,794 7.77 5.18$247,434 
Vested and expected to vest—December 29, 2024
13,169,869 9.88 6.04$297,037 
The total intrinsic value of options exercised in fiscal years 2024, 2023 and 2022 was $50.8 million, $7.5 million and $13.6 million, respectively. The weighted-average fair value of options granted in fiscal years 2024, 2023 and 2022 was $9.72, $9.07, and $8.02, respectively, all of which were granted to employees.
The fair value of each option granted has been estimated as of the date of the grant using the Black-Scholes option-pricing model with the assumptions during the fiscal years ended December 29, 2024, December 31, 2023 and December 25, 2022 included in the table below. The Company has elected to account for forfeitures as they occur.
Input
Fiscal Year Ended
December 29, 2024
Fiscal Year Ended
December 31, 2023
Fiscal Year Ended
December 25, 2022
Risk-free interest rate
3.43%-4.69%
3.50%-4.90%
1.59%-3.95%
Expected term
5.79-6.21 years
5.81-6.22 years
5.08-6.60 years
Expected Volatility
45.38%45.11 %44.25 %
Dividend yield
0%0 %0 %
Fair Value of Common Stock—The Company’s board of directors determines the fair market value of its common stock based on its closing price as reported on close of business the day immediately preceding the date of grant on the New York Stock Exchange.
Risk-Free Interest Rate—The yield on actively traded non-inflation indexed U.S. Treasury notes with the same maturity as the expected term of the underlying options was used as the average risk-free interest rate.
Expected Term—The expected term of options granted to was determined based on management’s expectations of the options granted, which are expected to remain outstanding. The Company calculated the expected term using the simplified method for “plain vanilla” stock option awards.
Expected Volatility—Given the timing of the IPO occurring in 2021, there is not sufficient share price history that extends through the expected term of the options, as such, the Company has elected to use an approximation based on the volatility of other comparable public companies, which compete directly with the Company, over the expected term of the options. 
Dividend Yield—The Company has not issued regular dividends on common shares in the past nor does the Company expect to issue dividends in the foreseeable future. As such, the dividend yield has been estimated to be zero.
As of December 29, 2024, there was $21.6 million in unrecognized compensation expense related to unvested stock options arrangements and is expected to be recognized over a weighted average period 2.08 years.
Restricted Stock Units and Performance Stock Units

Restricted stock units

During the fiscal years ended December 29, 2024 and December 31, 2023, the Company issued 535,789 and 428,428 RSUs, respectively, to certain employees, which vest upon the satisfaction of certain service periods. The fair value of these RSUs was determined based on the Company’s closing stock price the business day immediately preceding the date of grant. The service period of these RSUs is satisfied over a range of 0 to 4 years. The RSUs are excluded from common stock issued and outstanding until the satisfaction of these vesting conditions and are not considered a participating security for purposes of calculating net loss per share attributable to common stockholders.

The following table summarizes the Company’s RSU activity for fiscal year ended December 29, 2024:

(dollar amounts in thousands except per share amounts)Number of
Shares
Weighted-
Average
Grant Date Fair Value
Balance—December. 31, 2023951,517 $17.41 
Granted535,789 20.81 
Released
(479,078)20.39 
Forfeited, cancelled, or expired
(98,204)18.70 
Balance—December. 29, 2024910,024 $17.72 
The weighted-average grant date fair value per RSU granted during the fiscal years ended December 31, 2023 and December 25, 2022 was $9.07 and $19.45, respectively. As of December 29, 2024, unrecognized compensation expense related to RSUs was $9.1 million and is expected to be recognized over a weighted average period of 1.67 years. The fair value of shares earned as of the vesting date during the fiscal years ended December 29, 2024, December 31, 2023 and December 25, 2022 was $13.7 million, $6.3 million, and $15.3 million, respectively.

Performance stock units

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. The founder PSUs are excluded from common stock issued and outstanding until the satisfaction of these vesting conditions and are not considered a participating security for purposes of calculating net loss per share attributable to common stockholders.

The founder PSUs are eligible to vest beginning on the one-year anniversary of the effective date of the registration statement of the Company’s IPO, and expire ten years after the IPO date. The founder PSUs are comprised of seven tranches that are eligible to vest based on the achievement of stock price goals, ranging from $30.0 - $75.0 per share, measured over a consecutive 90-calendar day trailing trading period during the performance period as set forth below.
Company Stock Price TargetNumber of PSUs Eligible to Vest
1$30.00 900,000 
2$37.50 900,000 
3$45.00 900,000 
4$52.50 900,000 
5$60.00 900,000 
6$67.50 900,000 
7$75.00 900,000 

The Company estimated the grant date fair value of the founder PSUs based on multiple stock price paths developed through the use of a Monte Carlo simulation model within a hybrid framework with two possible scenarios (IPO and Change of Control). A Monte Carlo simulation model also calculates a derived service period for each of the seven vesting tranches, which is the measure of the expected time to achieve each Company stock price target, as described above. A Monte Carlo simulation model requires the use of various assumptions, including the underlying stock price, volatility, expiration term, and the risk-free interest rate as of the valuation date, corresponding to the length of time remaining in the performance period, and expected dividend yield. The derived service period calculation also requires the cost of equity assumption to be used in the Monte Carlo simulation model. Term and volatility are typically the primary drivers of this valuation. An expiration term of 10 years (as defined in the grant agreements) was considered in the IPO scenario while an expiration term of 3 years was considered in the Change of Control scenario. A volatility of 52.0 percent was considered within the IPO scenario consistent with the maximum term to expiration; whereas, a common stock volatility of 90.5 percent was considered in the Change of Control scenario, which is based on the ASC 718 analysis. The weighted-average grant date fair value of the founders PSUs was $16.35 per share. The Company will recognize total stock-based compensation expense of $103.0 million over the derived service period of each tranche, which is between 1.7 to 4.4 years, using the accelerated attribution method as long as the founders satisfy the service-based vesting condition. As of December 29, 2024 unrecognized compensation expense related to PSUs was $9.8 million and is expected to be recognized over a weighted average period of 0.72 years.
During the fiscal year ended December 29, 2024, the service condition and stock price goal for the first two tranches were met, resulting in 600,000 PSUs vesting and being released for each founder during that period (for a total of 1,800,000 PSUs vesting). The fair value of the total shares released as of the vesting date during the fiscal year ended December 29, 2024 was $67.8 million, solely related to the founder PSUs, and the Company incurred $1.1 million in payroll taxes associated with the transactions which are included in general and administrative expenses within the accompanying consolidated statement of operations.

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. The Company will recognize stock compensation expense related to each performance-based milestone target as it becomes probable of occurring, based on the stock price on the date of grant. During the fiscal year ended December 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 are scheduled to vest on March 15, 2025. The expense related to these RSUs is included within the RSU section above.

During the fiscal years ended December 29, 2024 and December 31, 2023 the Company did not issue any PSUs. As described above, the Company granted a total of 6,621,248 PSUs during the fiscal year ended December 26, 2021 with a weighted average grant date fair value of $15.56. There were no grants, forfeitures, cancellations, or expirations since the grant date, and the founder PSUs released during the fiscal year ended December 29, 2024 are described above and summarized below.

The following table summarizes the Company’s PSU activity for the fiscal year ended December 29, 2024:
(dollar amounts in thousands except per share amounts)Number of
Shares
Weighted-
Average
Grant Date Fair Value
Balance—December. 31, 20236,621,428 $15.56 
Granted— — 
Released
(1,800,000)18.19 
Forfeited, cancelled, or expired
(321,428)— 
Balance—December. 29, 20244,500,000 $15.62 


A summary of stock-based compensation expense recognized fiscal years ended December 29, 2024, December 31, 2023 and December 25, 2022 is as follows:

(dollar amounts in thousands)
Fiscal Year Ended
December 29, 2024
Fiscal Year Ended
December 31, 2023
Fiscal Year Ended
December 25, 2022
Stock-options
$11,773$8,878$10,505
Restricted stock units
8,5468,55732,037
Performance stock units
18,70532,09736,194
Total stock-based compensation
$39,024$49,532$78,736
v3.25.0.1
INCOME TAXES
 12 Months Ended
Dec. 29, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company’s entire pretax loss for the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022 was from its U.S domestic operations. For the fiscal years ended December 29, 2024, December 31, 2023 and December 25, 2022, the Company recorded an income tax (benefit) expense of $(1.3) million, $0.4 million, and $1.3 million, respectively.

The components of the provision for income taxes for the fiscal year ended December 29, 2024, December 31, 2023, and December 25, 2022 are as follows (in thousands):
(dollar amounts in thousands)Fiscal Year Ended
December 29, 2024
Fiscal Year Ended
December 31, 2023
Fiscal Year Ended
December 25, 2022
Current:
State
111 21 55 
Total Current
111 21 55 
Deferred:
Federal
(1,432)323 1,271 
State
20 35 19 
Total deferred(1,412)358 1,290 
Total provision for income taxes (benefit) expense
$(1,301)$379 $1,345 
A reconciliation of the Company’s statutory income tax rate to the Company’s effective income tax rate is as follows:
 December 29,
2024		December 31,
2023		December 25,
2022
Federal statutory rate
21.0 %21.0 %21.0 %
Effect of:
State taxes, net of federal benefit
4.2 %6.7 %7.1 %
Permanent differences
(1.9 %)(0.8 %)(0.8 %)
Change in valuation allowance
(19.5 %)(18.5 %)(7.8 %)
Nondeductible executive compensation(20.0 %)(8.2 %)(19.4 %)
Stock compensation and related items15.8 %— %— %
Other
1.8 %(0.5 %)(0.8 %)
Total
1.4 %(0.3 %)(0.7 %)
Components of the Company’s net deferred tax (liabilities)/assets consisted of the following:
(dollar amounts in thousands)December 29,
2024		December 31,
2023
Deferred tax assets:
Net operating loss carryforward
$219,918 $206,452 
Charitable contributions
178 271 
Deferred rent
23,111 21,045 
Stock-based compensation expense
5,458 6,233 
Accrued expenses
614 580 
Deferred revenue
1,331 855 
Other
5,738 5,140 
Total deferred tax assets
256,348 240,576 
Valuation allowance
(202,709)(184,880)
Total deferred tax assets, net of valuation allowance
53,639 55,696 
Deferred tax (liabilities):
Depreciation and amortization differences
(39,580)(44,691)
State deferred taxes
(14,420)(12,778)
Total deferred tax liabilities
(54,000)(57,469)
Net deferred tax (liability) asset
$(361)$(1,773)

As of December 29, 2024 and December 31, 2023, Company management assessed the realizability of deferred tax assets, in order to determine the need for a valuation allowance. As of the fiscal years ended December 29, 2024 and December 31, 2023, the Company is in a net deferred tax asset position of $202.7 million and $184.9 million, respectively. The deferred tax assets consist principally of net operating loss carryforwards. The future realization of the tax benefits from existing temporary differences and tax attributes ultimately depends on the existence of sufficient taxable income. In assessing the realization of the deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets.
In concluding on its evaluation, Company management placed significant emphasis on guidance in ASC 740, which states that “a cumulative loss in recent years is a significant piece of negative evidence that is difficult to overcome.” Such objective evidence limits the ability to consider other subjective evidence, such as the Company’s projections for future growth. On the basis of this evaluation, as of December 29, 2024 and December 31, 2023, a full valuation allowance of $202.7 million and $184.9 million, respectively, has been recorded against the deferred tax assets, which represents an increase of $17.8 million year over year.
As of December 29, 2024, the Company had U.S. Federal net operating loss carryforwards of $794.8 million, of which $692.9 million may be carried forward indefinitely, and the remaining carryforwards $101.9 million expire at various dates from 2029 through 2037. As of December 29, 2024, the Company had state net operating loss carryforwards of $682.6 million, of which $80.4 million may be carried forward indefinitely, and the remaining carryforwards of $602.2 million expire at various dates from 2024 through 2044.
The future realization of the Company’s net operating loss carryforwards and other tax attributes may also be limited by the change in ownership rules under the U.S. Internal Revenue Code Section 382. In general, under Section 382 of the Internal Revenue Code (Section 382), a corporation that undergoes an ownership change is subject to limitations on its ability to utilize its pre-change net operating loss carryovers and tax credits to offset future taxable income. The Company completed a Section 382 analysis to evaluate whether any ownership changes and related limitations impacted the Company’s ability to utilize net operating loss carryforwards or other attributes prior to their expiration dates. The Company’s existing net operating loss carryforwards and tax credits are subject to annual limitations arising from ownership changes which occurred in previous periods. Currently, the limitations imposed by Section 382 are not expected to impair the Company’s ability to fully realize its net operating losses. Future changes in the Company’s stock ownership, some of which are outside of the Company’s control, could result in an additional ownership change under Section 382 of the Code; if that occurs, the Company’s ability to utilize net operating losses could be further limited. Furthermore, the Company’s ability to utilize net operating losses of companies that we may acquire in the future may be subject to limitations under Section 382 of the Code.
The Company files income tax returns in the U.S. federal jurisdiction and in various state and local jurisdictions in which it operates, and therefore is subject to tax examination by various taxing authorities. The Company is not currently under examination and is not aware of any issues under review that could result in significant payments, accruals or material deviation from its tax positions. As of December 29, 2024, tax years from 2019 to present remain open to examination under the statutes applied by the relevant taxing jurisdictions in which the Company files tax returns. Additionally, to the extent the Company utilizes tax attribute carryforwards, such as net operating losses, the tax years in which the attribute was generated may still be adjusted upon examination by the Internal Revenue Service and state and local tax authorities.
The calculation and assessment of the Company’s tax exposures generally involve the uncertainties in the application of complex tax laws and regulations for federal, state and local jurisdictions. A tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation, on the basis of the technical merits. As of December 29, 2024 and December 31, 2023, the Company had approximately $0.1 million and $0.4 million of unrecognized tax benefits, respectively. Due to the valuation allowance position, none of the unrecognized tax benefits, if recognized, will impact the Company’s effective tax rate. The Company recognizes accrued interest and penalties, if any, related to uncertain tax positions in income tax provision in its financial statements, if applicable. The Company did not have any accrued interest of penalties associated with any uncertain tax positions, and no interest expense was recognized during the fiscal years ended December 29, 2024 and December 31, 2023. The following table summarizes the activity related to the Company’s gross uncertain tax positions for the fiscal years ended December 29, 2024 and December 31, 2023:
(dollar amounts in thousands)December 29,
2024		December 31,
2023
Uncertain Tax Positions
Beginning of year balance
$431 $1,556 
(Decreases) increases related to current year tax positions
(338)(1,125)
End of year balance
$93 $431 

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, 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 employee retention credit, previously enacted under the Coronavirus Aid, Relief and Economic Security Act (“CARES
Act”), through December 31, 2021. The ARPA did not have a material impact on the Company’s consolidated financial statements. 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 Employee Retention Credit “ERC” by analogy to International Accounting Standard (“IAS”) 20, Accounting for Government Grants and Disclosure of Government Assistance. In accordance with IAS 20, management determined it has reasonable assurance for receipt of the ERC and recorded the ERC benefit of $1.8 million within Labor and other related expenses and $5.1 million, within general and administrative expenses in the Consolidated Statement of Operations for the fiscal year ended December 31, 2023 as an offset to Social Security tax expense. As of December 31, 2023 the Company received $3.4 million cash payment reducing the ERC receivable within other current assets on the Consolidated Balance Sheet to $3.6 million. No additional cash payments receipts have been received to date.
v3.25.0.1
NET LOSS PER SHARE
 12 Months Ended
Dec. 29, 2024
Earnings Per Share [Abstract]  
NET LOSS PER SHARE NET LOSS PER SHARE
During the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022, 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:
(dollar amounts in thousands)
Fiscal Year Ended
December 29, 2024
Fiscal Year Ended
December 31, 2023
Fiscal Year Ended
December 25, 2022
Numerator:
Net loss
$(90,373)$(113,384)$(190,441)
Denominator:
Weighted-average common shares outstanding—basic and diluted
114,321,672 111,907,675 110,128,287 
Earnings per share—basic and diluted
$(0.79)$(1.01)$(1.73)
The Company’s potentially dilutive securities, which include 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:
 
Fiscal Year Ended
December 29, 2024
Fiscal Year Ended
December 31, 2023
Fiscal Year Ended
December 25, 2022
Options to purchase common stock13,169,869 13,219,388 13,813,922 
Time-based vesting restricted stock units910,024 951,517 1,780,681 
Performance stock units4,500,000 6,621,428 6,621,428 
Contingently issuable stock500,000 714,285 714,285 
Total common stock equivalents
19,079,893 21,506,618 22,930,316 
v3.25.0.1
RELATED-PARTY TRANSACTIONS
 12 Months Ended
Dec. 29, 2024
Related Party Transactions [Abstract]  
RELATED-PARTY TRANSACTIONS RELATED-PARTY TRANSACTIONSThe Company’s founders and Chief Financial Officer each hold indirect minority passive interests 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 property leased by the Company for the Company’s principal corporate headquarters. For the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022 total payments to Welcome to the Dairy, LLC, totaled $3.9 million, $4.2 million, and $5.2 million, respectively.
v3.25.0.1
COMMITMENTS AND CONTINGENCIES
 12 Months Ended
Dec. 29, 2024
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, CAMs 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.

Litigation

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.
v3.25.0.1
Segment Reporting
 12 Months Ended
Dec. 29, 2024
Segment Reporting [Abstract]  
Segment Reporting Disclosure Reportable Segment
The Company’s operations are conducted as one operating segment and one reportable segment. The Company’s chief operating decision maker (“CODM”) is the chief executive officer. The Company defines its segments based on the way the Company’s internally reported financial information is regularly reviewed by the CODM to analyze financial performance, make decisions, and allocate resources. The Company has one revenue stream, which is derived from retail sales of food and beverages by company-owned restaurants within the United States. The Company’s approach to designing its menu and related food and beverage offerings are consistent throughout the United States. Additionally, the Company’s food ethos, manners in which stores are operated and available channels are consistent throughout the United States. Based on these factors, the CODM manages business activities, allocates resources and assess financial performance on a consolidated basis. The accounting policies are the same as those described in the summary of significant accounting policies. Sweetgreen does not have intra-company sales or transfers.

The CODM assesses performance for Sweetgreen and decides how to allocate resources based on Net loss as reported on the Consolidated Statement of Operation. The CODM uses Net loss to monitor budget versus actual results as well as benchmarking Sweetgreen to its competitors. The competitive analysis along with the monitoring of budgeted versus actual results are used in assessing performance of Sweetgreen. The assets of the Company are managed centrally and are reported internally in the same manner as the consolidated financial statements. Therefore, no further 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:
Fiscal Year Ended
December 29, 2024		Fiscal Year Ended
December 31, 2023		Fiscal Year Ended
December 25, 2022
General and administrative
Operating support center cost(1)
$107,626 $95,452 $107,697 
Stock-based compensation
39,024 49,532 78,736 
Other expenses(2)
3,292 1,778 934 
Total General and administrative$149,942 $146,762 $187,367 
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Pay vs Performance Disclosure      
Net loss $ (90,373) $ (113,384) $ (190,441)
v3.25.0.1
Insider Trading Arrangements
 12 Months Ended
Dec. 29, 2024
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
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 29, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 29, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
We have implemented and maintain various information security processes designed to identify, assess, and manage material risks from cybersecurity threats to our critical information technology and our critical data, including intellectual property, confidential information that is proprietary, strategic, or competitive in nature, and customer and employee data (“Information Systems and Data”).

Our Chief Technology Officer (“CTO”), as well as the security operations, engineering, risk management and legal functions help identify, assess and manage the Company’s cybersecurity threats and risks. Our security operations team monitors and identifies potentially material cybersecurity threats and risks, and implements and maintains the Company’s incident management policies and plans. Our security operations team leads our efforts to identify and assess risks from cybersecurity threats by monitoring and evaluating our threat environment using various methods including, for example, subscribing to reports and services that identify cybersecurity threats, monitoring incident notifications from stakeholders, conducting threat assessments, managing software vulnerabilities and patches, conducting tabletop incident response exercises, and, in connection with our legal function, coordinating with law enforcement concerning threats.

Depending on the environment, we implement and maintain various technical, physical, and organizational measures, processes, and policies designed to manage and mitigate material risks from cybersecurity threats to our Information Systems and Data, including, for example: an incident response plan; vulnerability management activities; encryption of data; network security controls; data access controls; penetration testing; cybersecurity insurance; and a dedicated security operations team.

Our assessment and management of material risks from cybersecurity threats are integrated into the Company’s overall risk management processes. For example, our information security function works with management to prioritize our risk management processes and mitigate cybersecurity threats that are more likely to lead to a material impact to our business, and our senior management evaluates material risks from
cybersecurity threats against our overall business objectives and provides an annual cybersecurity update to each of the board of directors and the audit committee.
We use third-party service providers to assist us from time to time to identify, assess, and manage material risks from cybersecurity threats, including for example professional services firms including legal counsel, threat intelligence service providers, cybersecurity consultants, cybersecurity software providers, managed cybersecurity service providers, forensic investigators, and penetration testing firms.

We use third-party service providers to perform a variety of functions throughout our business, such as account management, payment processing, cloud-based infrastructure, data center hosting, and content delivery to customers. Depending on the nature of the services provided, the sensitivity of the Information Systems and Data at issue, and the identity of the provider, our vendor management process may involve different levels of assessment designed to help identify cybersecurity risks associated with a provider and we may impose contractual obligations related to cybersecurity on the provider.
For a description of the risks from cybersecurity threats that may materially affect the Company and how they may do so, see our risk factors under Part 1. Item 1A. Risk Factors in this Annual Report on Form 10-K, including “If the confidentiality, integrity, or availability of our information technology, software, services, communications, or data, or those of third parties upon which we rely, are or were compromised, we could experience adverse consequences resulting from such compromise, including but not limited to regulatory investigations or actions; litigation; fines and penalties; disruptions of our business operations; reputational harm; loss of revenue or profits; loss of customers or sales; and other adverse consequences.”
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
Our assessment and management of material risks from cybersecurity threats are integrated into the Company’s overall risk management processes. For example, our information security function works with management to prioritize our risk management processes and mitigate cybersecurity threats that are more likely to lead to a material impact to our business, and our senior management evaluates material risks from
cybersecurity threats against our overall business objectives and provides an annual cybersecurity update to each of the board of directors and the audit committee.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Our board of directors addresses the Company’s cybersecurity risk management as part of its general oversight function. The board of directors’ audit committee is responsible for overseeing the Company’s cybersecurity risk management processes, including supervision, mitigation, and disclosure of risks from cybersecurity threats.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The audit committee and the full board receive annual reports from senior management concerning the Company’s significant cybersecurity threats and risk and the processes the Company has implemented to address them. The audit committee also receives various reports, summaries or presentations related to certain cybersecurity threats, risks, and mitigations.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] In addition, the Company’s incident response process includes reporting material incidents to the audit committee of the board of directors.
Cybersecurity Risk Role of Management [Text Block]
Our cybersecurity risk assessment and management processes are implemented and maintained by certain Company management, including our CTO and members of our legal and cybersecurity teams. Our CTO has more than three decades of experience working in technology for global companies in the technology, retail, and food services industries and has served in senior management at another public food service company.
Senior management is responsible for hiring appropriate personnel, helping to integrate cybersecurity risk considerations into the Company’s overall risk management strategy, and communicating key priorities to relevant personnel. Senior management is also responsible for approving budgets, helping prepare for cybersecurity incidents, approving cybersecurity policies and processes, and reviewing security assessments and other security-related reports.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
Our cybersecurity risk assessment and management processes are implemented and maintained by certain Company management, including our CTO and members of our legal and cybersecurity teams. Our CTO has more than three decades of experience working in technology for global companies in the technology, retail, and food services industries and has served in senior management at another public food service company.
Senior management is responsible for hiring appropriate personnel, helping to integrate cybersecurity risk considerations into the Company’s overall risk management strategy, and communicating key priorities to relevant personnel. Senior management is also responsible for approving budgets, helping prepare for cybersecurity incidents, approving cybersecurity policies and processes, and reviewing security assessments and other security-related reports.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our CTO has more than three decades of experience working in technology for global companies in the technology, retail, and food services industries and has served in senior management at another public food service company.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] Our incident response plan is designed to escalate certain cybersecurity incidents to members of management depending on the circumstances, including the Chief Executive Officer, Chief Legal Officer, and Chief Financial Officer. The Chief Legal Officer works with the Company’s cybersecurity incident response team to help the Company mitigate and remediate cybersecurity incidents of which he is notified.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
Dec. 29, 2024
Accounting Policies [Abstract]  
Principles of Consolidation
Principles of Consolidation—The accompanying 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 last Sunday of the calendar year. Fiscal years 2024 and 2022 were 52-week periods that ended December 29, 2024 and December 25, 2022, respectively. Fiscal year 2023 was a 53-week period that ended December 31, 2023. 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 consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). The preparation of 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 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 (“ROU 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 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.
Concentrations of Risk Concentrations of Risk— The Company maintains cash balances at several financial institutions located in the United States. The cash balances may, at times, exceed federally insured limits.
Other Current Assets
Other Current Assets— Other current assets primarily consist of the Employee Retention Credit “ERC”, outstanding receivables from the Company’s distributors and current amortization of deferred costs.
Other Assets Other Assets— Other Assets primarily consist of deferred costs, which are capitalized implementation costs from cloud computing arrangements in relation the Company’s enterprise resource planning system (“ERP”). These costs amounted to $3.8 million and $4.2 million as of December 29, 2024 and December 31, 2023 and were recorded within other assets in the consolidated balance sheets. The amortization of these costs are recognized within the Company’s consolidated statement of operations under general and administrative expenses over a useful life of seven years.
Accounts Receivable
Accounts Receivable— Accounts receivable primarily consists of receivables from distributors and receivables from the Company’s Marketplace and Outpost and Catering Channels.
Inventory
Inventory— Inventory, consisting primarily of food, beverages and supplies, is valued at the lower of cost first-in, first-out cost or net realizable value.
Prepaid Expenses
Prepaid Expenses— Prepaid expenses primarily include prepaid office systems, which we amortize over the life of the contract, and prepaid insurance, which is expensed in the period for which it relates.
Property and Equipment
Property and Equipment—Property and equipment are recorded at cost. Property and equipment are depreciated using the straight-line method over the following estimated useful lives:
Property and EquipmentUseful Life
Leasehold improvements
Shorter of lease term or estimated asset life
Furniture and fixtures
5 years
Kitchen equipment
5 - 10 years
Computers and other equipment
3 years
Upon retirement or disposal of assets, the accounts are relieved of cost and accumulated depreciation and any related gain or loss is reflected in loss on disposal of property and equipment in the consolidated statement of operations. Assets to be disposed consists of primarily furniture, equipment and fixtures that were replaced in the normal course of business and are reported at the lower of their carrying amount or fair value less estimated cost to sell.
Expenditures for repairs and maintenance are charged directly to expense when incurred. The cost of assets sold, retired, or otherwise disposed of, and the related accumulated depreciation and amortization are eliminated from the accounts, and any resulting gain or loss is included in earnings.
The Company capitalizes certain directly attributable internal costs in conjunction with the acquisition, development and construction of future restaurants, after the restaurant construction is past the planning stage and it is considered probable that the restaurant will open. These costs are included in property and equipment and amortized over the shorter of the life of the related buildings and leasehold improvements or the lease term. Costs related to abandoned sites and other site selection costs that cannot be identified with specific restaurants are charged to general and administrative expenses in the accompanying consolidated statements of operations, and were $0.2 million, $0.3 million and $0.9 million for each of the fiscal years ended December 29, 2024, December 31, 2023 and December 25, 2022, respectively.
Restructuring Charges Restructuring Charges— Restructuring charges are expenses that are paid in connection with reorganization of the Company’s operations during fiscal year 2022 as well as the amortization of the underlying operating lease asset and related real estate and common area maintenance fees (“CAM”) charges. Additionally, in conjunction with the Company’s implementation of ASC Topic 842 (“ASC 842”), operating lease assets were evaluated for impairment, and any impairment charges incurred in relation to the assets impacted by the Company’s restructuring was considered a restructuring charge.
Business Combinations
Contingent Consideration—Due to certain conversion features, the contingent consideration issued as part of the Spyce acquisition is considered a liability in accordance with ASC 480. The liability associated with the contingent consideration is initially recorded at fair value (see Note 3 for further details) upon issuance date and is subsequently re-measured to fair value at each reporting date. The initial fair value of the liability for the contingent consideration was $16.4 million and was included as part of the purchase price for the Spyce acquisition. The fair value of the liability 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 fair value of the liability as of December 31, 2023 was $8.4 million and included in contingent consideration liability within the consolidated balance sheets. See Note 3.

Changes in fair value of the contingent consideration is recognized within other expense in the accompanying consolidated statement of operations.
Other Current Liabilities Other Current Liabilities—The other current liabilities is comprised of the short-term portion of the contingent consideration liability. See Note 3.
Goodwill
Goodwill—Goodwill, which represents the excess of the cost of an acquired entity over the fair value of the acquired net assets, has an indefinite life and, accordingly, is not amortized. The Company has one reporting unit. The Company tests goodwill for impairment annually, or more frequently if events or changes in circumstances indicate that the asset may be impaired.
The Company reviews goodwill for impairment utilizing either a qualitative assessment or a fair value test by comparing the fair value of its reporting unit with its carrying amount. If the Company decides that it is appropriate to perform a qualitative assessment and concludes that the fair value of its reporting unit more likely than not exceeds its carrying value, no further evaluation is necessary. If the Company performs the fair value test, the Company will compare the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired. If the carrying amount of a reporting unit exceeds its fair value, the Company will recognize an impairment charge for the amount by which the carrying amount exceeds its reporting unit’s fair value.
Intangible Assets, net
Intangible Assets, net— External costs and certain internal costs, including payroll and payroll-related costs for employees, directly associated with developing computer software applications for internal use are capitalized subsequent to the preliminary stage of development as well as developed technology associated with the Company’s Infinite Kitchen. Internal-use software costs are amortized using the straight-line method over a three year estimated useful life of the software when the project is substantially complete and ready for its intended use.
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.
Leases and Lease Acquisition Costs
Lease Acquisition Costs— Lease acquisition costs included key money which is the amount of funds paid to a landlord or tenant to acquire the rights of tenancy under a commercial property lease. These costs are amortized over the respective lease terms that range from 10 to 15 years and are presented net of accumulated amortization.
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 Company evaluates contracts entered into to determine whether the contract involves the use of property or equipment, which is either explicitly or implicitly identified in the contract. The Company evaluates whether it controls the use of the asset, which is determined by assessing whether it obtains substantially all economic benefits from the use of the asset, and whether it has the right to direct the use of the asset. If these criteria are met and the contract is identified as a lease, then the Company accounts for the contract under the requirements of ASC 842. The Company also evaluates whether the lease will be accounted for as an operating or finance lease based on the terms of the lease agreement, and when determining the lease term, the Company includes reasonably certain option renewal periods. Many of the Company's leases require payment of real estate taxes, CAM costs and other occupancy costs which are included in occupancy and related expenses on the consolidated statements of operations. Some of the Company’s operating leases include provisions for payment of a fixed CAM amount per annum, and as such, these payments have been included in the calculation of the operating lease liability.

The Company measured the lease liability by discounting the future fixed contractual payments included in the lease agreement, using either the rate explicit in the lease or its incremental borrowing rate (“IBR”). The IBR used to measure the lease liability is derived from the yield curve commensurate with the credit rating of the
Company and further adjusted for seniority based on a notching analysis. The most significant assumption in calculating the IBR is the Company’s credit rating, and the IBR is also subject to judgment.

For leases with a lease term of 12 months or less ("short-term lease"), any fixed lease payments are recognized on a straight-line basis over such term, and are not recognized on the consolidated balance sheets.

Certain leases contain provisions for contingent rent that require additional rental payments based upon restaurant sales volume. Contingent rent is expensed each period as the liability is incurred, and is not included in the initial measurement of operating lease assets and liabilities.

The Company receives tenant improvement allowances, generally in the form of cash, from some of the landlords of its leased properties. The tenant improvement allowances that are expected to be received are included in the measurement of the initial operating lease liability, which are also reflected as a reduction to the initial measurement of the right-of-use asset and amortized over the applicable lease terms.
Revenue Recognition
Revenue Recognition—The Company recognizes food and beverage revenue, net of discounts and incentives, when payment is tendered at the point of sale as the performance obligation has been satisfied, through the Company’s three disaggregated revenue channels: Owned Digital Channels, In Store-Channel (Non-Digital component), and Marketplace Channel.

Owned Digital Channels encompasses the Company’s Pick-Up Channel, Native Delivery Channel, Outpost and Catering Channel, and purchases made in its In-Store Channel via digital scan-to-pay, prior to the elimination of digital scan-to-pay during the fiscal quarter ended September 24, 2023. Pick-Up Channel refers to sales to customers made for pick-up at one of the Company’s restaurants through the Sweetgreen website or mobile app. Native Delivery Channel refers to sales to customers for delivery made through the Sweetgreen website or
mobile app. Outpost and Catering Channel refers to sales to customers for delivery made through the Sweetgreen website or mobile app to Outposts, which are the Company’s offsite drop-off points at offices, residential buildings and hospitals. In addition, the Company’s Outpost and Catering Channel includes the Company’s catering offerings, which refer to sales to customers made through the Company’s catering website for pickup at one of the Company’s restaurants or delivery to a customer-specified address.
In-Store Channel (Non-Digital component) refers to sales to customers who make in-store purchases in the Company’s restaurants, whether they pay by cash or credit card, or digital scan-to-pay. Purchases made in the Company’s In-Store Channel via cash or credit card are referred to as “Non-Digital” transactions, and purchases made in the Company’s In-Store Channel via digital scan-to-pay, prior to its elimination in 2023, were included as part of the Company’s Owned Digital Channels.
Marketplace Channel refers to sales to customers for delivery or pick-up made through third-party delivery marketplaces, including DoorDash, Grubhub, Uber Eats, ezCater, Sharebite and others.
Provisions for discounts are provided for in the same period the related sales are recorded. Sales taxes and other taxes collected from customers and remitted to governmental authorities are presented on a net basis, and as such, are excluded from revenues.
Gift Cards—The Company sells gift cards that do not have an expiration date. Upon sale, gift cards are recorded as unearned revenue and included within gift card liability in the accompanying consolidated balance sheets. The revenue from gift cards is recognized when redeemed by customers. Because the Company does not track addresses of gift card purchasers, the relevant jurisdiction related to the requirement for escheatment, the legal obligation to remit unclaimed assets to the state, is the Company’s state of incorporation, which is Delaware. The state of Delaware requires escheatment after 5 years from issuance. The Company does not recognize breakage income because of its requirements to escheat unredeemed gift card balances.
Delivery—The majority of the Company’s restaurant locations offer a delivery option. Delivery services are fulfilled by third-party service providers whether delivery is ordered through the Company’s Native Delivery Channel or Marketplace Channel. With respect to Native Delivery sales, the Company controls the delivery services and recognizes revenue, including delivery revenue, when the delivery partner transfers food or beverage to the customer. For these sales, the Company receives payment directly from the customer at the time of sale. With respect to Marketplace Channel sales, the Company recognizes revenue, excluding delivery fees collected by the delivery partner as the Company does not control the delivery service, when control of the food is delivered to the end customer. The Company receives payment from the delivery partner subsequent to the transfer of food and the payment terms are short-term in nature. For all delivery sales, the Company is considered the principal and recognize the revenue on a gross basis.
Income Taxes
Income Taxes—The Company is subject to federal and state income taxes. The Company uses the asset and liability method of accounting for income taxes as set forth in ASC 740, Income Taxes. Under this method, the Company recognizes deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the respective carrying amounts and tax basis of assets and liabilities. All deferred tax assets and liabilities are classified as non-current in the accompanying consolidated balance sheet. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is established against the portion of deferred tax assets that the Company believes will not be realized on a more-likely-than-not basis.
With respect to uncertain tax positions, the Company recognizes in its consolidated financial statements those tax positions determined to be “more likely than not” of being sustained upon examination, based on the technical merits of the positions. For those tax positions where it is “not more likely than not” that a tax benefit will be sustained, no tax benefit is recognized. The Company’s policy is to recognize, when applicable, interest and penalties on uncertain tax positions as part of income tax expense.
Fair Value of Financial Instruments
Fair Value of Financial Instruments—The fair value measurement accounting guidance creates a fair value hierarchy to prioritize the inputs used to measure fair value into three categories. A financial instrument’s level
within the fair value hierarchy is based on the lowest level of input significant to the fair value measurement, where Level 1 is the highest category (observable inputs) and Level 3 is the lowest category (unobservable inputs). The three levels are defined as follows:
Level 1—Quoted prices for identical instruments in active markets.
Level 2—Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations in which significant value drivers are observable.
Level 3—Unobservable inputs for the asset or liability. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.
The carrying amount of accounts receivable, other current assets, accounts payable, accrued payroll and accrued expenses approximates fair value due to the short-term maturity of these financial instruments. The Company’s contingent consideration liability is carried at fair value determined using Level 3 inputs in the fair value. See Note 3.
Certain assets and liabilities are measured at fair value on a nonrecurring basis. In other words, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances (for example, when there is evidence of impairment). See Note 3.
Impairment and Closure Costs
Impairment and Closure Costs— Impairment includes impairment charges related to our long-lived assets, which include property and equipment and internally developed software, and subsequent to the adoption of ASC 842, operating lease assets. Long-lived assets are reviewed for recoverability at the lowest level in which there are identifiable cash flows (“asset group”). The asset group is at the store-level for restaurant assets and the corporate-level for corporate assets. The carrying amount of a store asset group includes stores’ property and equipment, primarily leasehold improvements, and operating lease assets, net of operating lease liability. The carrying amount of a corporate-level asset group includes Support Center property and equipment, operating lease assets, internally developed software and internally developed technology. Long-lived assets are reviewed by management for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be fully recoverable. When events or circumstances indicate that impairment may be present, management evaluates the probability that future undiscounted net cash flows received will be less than the carrying amount of the asset group. If projected future undiscounted cash flows are less than the carrying value of an asset group, then such assets are written down to their fair values. The Company uses a discounted cash flow model to measure the fair value of an asset group. An impairment charge will be recognized in the amount by which the carrying amount of the store asset group exceeds its fair value. The resulting impairment charge, if any, is allocated to the property and equipment, primarily leasehold improvements, and operating lease assets on a pro rata basis using the relative carrying amounts of those assets. The allocated impairment charge to a long-lived asset is limited to the extent that the impairment charge does not reduce the carrying amount of the long-lived asset below its individual fair value. The estimation of the fair value of an operating lease asset primarily involves the evaluation of current and future market value rental amounts, which are primarily based on recent observable market rental data. The fair value of an operating lease asset is measured using a discounted cash flow valuation technique by discounting the estimated current and future market rental values using a property-specific discount rate.

A number of significant assumptions and estimates are involved in the application of the model to forecast operating cash flows, which are largely unobservable inputs, including future revenue projections. Accordingly, such significant assumptions are classified as Level 3 inputs within the fair value hierarchy. Assumptions used in these forecasts are consistent with internal planning, and include sales growth rates, gross margins, and operating expense in relation to the current economic environment and the Company’s future expectations, competitive factors in its various markets, inflation, sales trends and other relevant economic factors that may impact the store under evaluation. In addition, assumptions used for operating lease assets vacated for future sublease include the Company’s estimated future sublease income and a property specific discount rate. There is uncertainty in the projected undiscounted future cash flows used in the Company’s impairment review analysis, which requires the use of estimates and assumptions. If actual performance does not achieve the projections, or if the assumptions used change in the future, the Company may be required to recognize impairment charges in future periods, and such charges could be material.
The Company determined that triggering events, primarily related to the impact of changing customer behavior trends, including slower than expected return to office and as a result of broader macroeconomic conditions on the Company’s near-term restaurant level cash flow forecast, restructuring activities and anticipated store closures, occurred for certain restaurants and its Support Center, that required an impairment review of the Company’s long-lived assets. No indicators of impairment were found for the Company’s intangible assets for the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022.

Based on the results of the analysis, for the fiscal year ended December 29, 2024, the Company recorded non-cash impairment charges of $1.7 million associated with one store location, which was recorded in impairment and closure costs within the consolidated statement of operations. Of the $1.7 million total non-cash impairment, $1.3 million was related to property and equipment, and $0.4 million was related to operating lease assets. During the fiscal year ended December 31, 2023, the Company recorded non-cash impairment charges of $4.3 million, related to the operating lease asset for the Company’s former Sweetgreen Support Center vacated previously during fiscal year 2022, which was recorded under restructuring charges within the consolidated statement of operations. During the fiscal year ended December 25, 2022 the Company recorded non-cash impairment charge of $15.0 million, of which $8.8 million was related to property and equipment and $6.2 million was related to operating lease assets. Of the $8.8 million of property and equipment impairment, $6.8 million was associated with the Company’s vacated former Sweetgreen Support Center and was recorded in restructuring charges within the consolidated statement of operations, and $2.0 million was associated with certain store locations and was recorded in impairment and closure costs within the consolidated statement of operations. Of the $6.2 million of operating lease impairment, $5.8 million was associated with the Company’s vacated Sweetgreen Support Center and was recorded in restructuring charges within the consolidated statement of operations, and $0.4 million was associated with certain store locations and was recorded in impairment and closure costs within the consolidated statement of operations. Of the $15.0 million total non-cash impairment expense, $12.6 million was included within restructuring charges and $2.4 million was included within impairment and closure costs within the consolidated statement of operations.

Closure costs include lease and related costs associated with closed restaurants including the amortization of the operating lease asset, and expenses associated with common area maintenance fees and real estate taxes for previously impaired stores. During the fiscal year ended December 29, 2024, the Company recognized closure costs of $0.5 million related to the amortization of the operating lease asset and expenses associated with CAM and real estate taxes for previously closed stores, including three previously impaired stores that were closed during the fiscal year ended December 31, 2023. During the fiscal year ended December 25, 2022, the Company closed one store operated by Spyce, which was fully impaired in a prior period. This closure resulted in closure costs of $0.5 million.
Contingencies
Contingencies—The Company is subject to various claims, lawsuits, governmental investigations, and administrative proceedings that arise in the ordinary course of business. The Company accrues a liability (which includes litigation costs expected to be incurred) and recognizes an expense for such matters when it is probable that a liability has been incurred and the amount can be reasonably estimated. Estimating liabilities and costs associated with these matters require significant judgment based upon the professional knowledge and experience of management and its legal counsel.
Marketing And Public Relations Marketing and Public Relations—Marketing costs, which include the development and production of advertising materials and online marketing tools, are expensed in the period incurred. Marketing expense directly attributable to an individual restaurant is included within other restaurant operating costs.
Restaurant operating costs
Restaurant Operating Costs—Restaurant operating costs primarily consist of food, beverage, packaging costs for to-go orders, salaries, benefits, and other expenses related to the Company’s in-store employees, maintenance and utilities at the Company’s restaurants, leasing costs for the Company’s restaurants and delivery and processing fees.
Operating Expenses
Operating Expenses— Operating expenses primarily consist of operations, finance, legal, human resources, administrative personnel, stock-based compensation, depreciation and amortization of assets, and pre-opening costs. Pre-opening costs primarily consist of rent, wages, travel for training and store opening teams, food and other restaurant costs that the Company incurs prior to the opening of a restaurant. These costs are expensed as incurred.
Share-Based Compensation
Stock-Based Compensation—The Company recognizes compensation expense resulting from stock-based payments over the period for which the requisite services are provided. The Company uses the Black-Scholes-Merton (“Black-Scholes”) option-pricing model to estimate the fair value of the incentive stock options at the measurement date. Grant date is deemed to be the appropriate measurement date for stock options issued to employees and nonemployees. The use of the Black-Scholes option-pricing model requires the use of subjective assumptions, including the fair value and projected volatility of the underlying common stock and the expected term of the award.
For all stock options granted, the Company calculated the expected term using the simplified method for “plain vanilla” stock option awards. The risk-free interest rate is based on the yield available on U.S. Treasury zero-coupon issues similar in duration to the expected term of the stock-based award. The Company’s common stock has not been publicly traded over the full expected term, and therefore, the Company used the historical volatility of the stock price of similar publicly traded peer companies. The Company utilized a dividend yield of zero, as it had no history or plan of declaring dividends on its common stock.
The grant date fair value of restricted stock units (“RSUs”) is estimated based on the fair value of the Company’s common stock on the date of grant. Prior to the Company’s initial public offering (“IPO”) in November 2021, RSUs granted by the Company vest upon the satisfaction of both a service-based vesting condition, which is typically four years, and a liquidity event-related performance vesting condition. The liquidity event-related performance vesting condition was achieved upon the consummation of the Company's IPO. Stock-based compensation related to the remaining service-based period after the liquidity event-related performance vesting condition was satisfied will be recorded over the remaining requisite service period using the accelerated attribution method. Since the Company’s IPO in November 2021, the Company only granted RSUs that vest upon the satisfaction of a service-based vesting condition and the compensation expense for these RSUs is recognized on a straight-line basis over the requisite service period.

The Company has granted founder performance-based restricted stock units (“founder PSUs”) that contain a market condition in the form of future stock price targets. The grant date fair value of the founder PSUs was determined using a Monte Carlo simulation model and the Company estimates the derived service period of the founder PSUs. The grant date fair value of founder PSUs containing a market condition is recorded as stock-based compensation over the derived service period using the accelerated attribution method. If the stock price goals are met sooner than the derived service period, any unrecognized compensation expenses related to the founder PSUs will be expensed during the period the stock price targets are achieved. Provided that each founder continues to be employed by the Company through the derived service period, stock-based compensation expense is recognized over the derived service period, regardless of whether the stock price goals are achieved.
Interest Income
Interest Income—Interest income consists of interest earned on cash and cash equivalents.
Interest Expense
Interest Expense—Interest expense includes mainly the interest incurred on outstanding indebtedness, as well as amortization of deferred financing costs, mainly debt origination and commitment fees. Debt origination fees are amortized on a straight-line basis over the commitment period.
Net Loss Per Share
Net Loss Per Share—The Company calculated basic and diluted net loss per share by dividing income available to common stockholders by the weighted-average number of shares of common stock during each period.
Diluted net loss per share available to common shareholders was computed by giving effect to all potentially dilutive common stock equivalents outstanding for the period. In periods in which the Company reports a net loss available to common shareholders, diluted net loss per share available to common shareholders is the same as basic net loss per share available to common shareholders, since dilutive common shares are not assumed to have been issued if their effect is anti-dilutive.
Employee Benefit Plan Employee Benefit Plan— The Company sponsors a qualified 401(k) defined contribution plan (the “401k Plan”) covering eligible employees. Participants may contribute a portion of their annual compensation limited to a maximum annual amount set by the Internal Revenue Service. The Company previously matched 50% of an eligible employee’s contribution up to 3% of wages. An employee becomes eligible once the individual has worked at the Company for 6 months, has worked 500 or more hours, and is 21 years or older.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements Not Yet Adopted
Recently Adopted Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (“FASB”), issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves reportable segment disclosure primarily through enhanced disclosures about significant segment expenses. The Company adopted ASU No. 2023-07 during the year ended December 29, 2024. See Note 15 "Segment Reporting" in the accompanying notes to the consolidated financial statements for further detail for the expanded disclosures as a result of adopting ASU No. 2023-07.
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.
v3.25.0.1
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 29, 2024
Accounting Policies [Abstract]  
Reconciliation of Cash and Cash Equivalents and Restricted Cash
The reconciliation of cash and cash equivalents and restricted cash presented in the Company’s accompanying consolidated balance sheets to the total amount shown in its consolidated statements of cash flows is as follows:
(dollar amounts in thousands)December 29,
2024		December 31,
2023
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents
$214,789 $257,230 
Restricted cash, non-current
2,640 125 
Total cash, cash equivalents and restricted cash shown on statement of cash flows
$217,429 $257,355 
Approximately $2.5 million of the restricted cash balance as of December 29, 2024 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.
Schedule of Restricted Cash
The reconciliation of cash and cash equivalents and restricted cash presented in the Company’s accompanying consolidated balance sheets to the total amount shown in its consolidated statements of cash flows is as follows:
(dollar amounts in thousands)December 29,
2024		December 31,
2023
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents
$214,789 $257,230 
Restricted cash, non-current
2,640 125 
Total cash, cash equivalents and restricted cash shown on statement of cash flows
$217,429 $257,355 
Approximately $2.5 million of the restricted cash balance as of December 29, 2024 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.
Summary of Property and Equipment Property and equipment are depreciated using the straight-line method over the following estimated useful lives:
Property and EquipmentUseful Life
Leasehold improvements
Shorter of lease term or estimated asset life
Furniture and fixtures
5 years
Kitchen equipment
5 - 10 years
Computers and other equipment
3 years
A summary of property and equipment is as follows:
(dollar amounts in thousands)December 29,
2024		December 31,
2023
Leasehold improvements
$303,035 $262,191 
Kitchen equipment
107,475 89,814 
Computers and other equipment
44,295 37,984 
Furniture and fixtures
43,045 36,692 
Assets not yet placed in service
38,047 26,269 
Total property and equipment
535,897 452,950 
Less: accumulated depreciation
(239,412)(186,048)
Property and equipment - net
$296,485 $266,902 
v3.25.0.1
REVENUE RECOGNITION (Tables)
 12 Months Ended
Dec. 29, 2024
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 fiscal years ended December 29, 2024, December 31, 2023 and December 25, 2022 disaggregated by significant revenue channel:
(dollar amounts in thousands)

December 29, 2024

December 31, 2023

December 25, 2022
Owned Digital Channels
$205,688 $212,872 $191,129 
In-Store Channel (Non-Digital component)
295,300 242,073 177,996 
Marketplace Channel
175,838 129,096 100,980 
Total Revenue
$676,826 $584,041 $470,105 
Schedule of Gift Card Liability Included in Gift Card and Loyalty Liability
Gift card liability included in gift card within the accompanying consolidated balance sheet was as follows:
(dollar amounts in thousands)December 29,
2024		December 31,
2023		 
December 25, 2022
Gift Card Liability
$4,385 $2,797 $2,016 
Revenue recognized from the redemption of gift cards that was included in gift card and loyalty liability at the beginning of the year was as follows:
(dollar amounts in thousands)Fiscal Year Ended December 29, 2024Fiscal Year Ended December 31, 2023Fiscal Year Ended December 25, 2022
Revenue recognized from gift card liability balance at the beginning of the year
$730 $480 $378 
v3.25.0.1
FAIR VALUE (Tables)
 12 Months Ended
Dec. 29, 2024
Fair Value Disclosures [Abstract]  
Schedule of Financial Liabilities Measured at Fair Value on Recurring Basis
The following tables present information about the Company’s financial liabilities measured at fair value on a recurring basis:

Fair Value Measurements as of December 29, 2024
Fair Value Measurements as of December 31, 2023
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
(dollar amounts in thousands)
Contingent consideration$14,974 — — 14,974 $8,350 — — 8,350 
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 26, 2021
$20,477 
Change in fair value819 
Balance—December 25, 2022
$21,296 
True-up payment(10,421)
Current portion of contingent consideration included in other current liabilities(6,000)
Change in fair value3,475 
Balance—December 31, 2023
$8,350 
Change in fair value6,624 
Balance—December 29, 2024
$14,974 
Schedule of Non-financial Instruments Measured at Fair Value, on a Nonrecurring Basis
The following non-financial instruments were measured at fair value, on a nonrecurring basis, as of and for the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022 reflecting certain property and equipment and operating leases for which an impairment loss was recognized during the corresponding periods within impairment and closure costs and restructuring charges within the consolidated statement of operations. For the fiscal year ended December 29, 2024, the Company recorded non-cash impairment charges of $1.7 million associated with one store location, which was recorded in impairment and closure costs within the consolidated statement of operations. Of the $1.7 million total non-cash impairment, $1.3 million was related to property and equipment, and $0.4 million was related to operating lease assets.


  
Fair Value Measurements
at December 29, 2024
Fiscal Year Ended
December 29, 2024
 TotalLevel 1Level 2Level 3Impairment
Losses
(dollar amounts in thousands)
Certain property and equipment, net
$— $— $— $— $1,347 
Operating lease assets$6,001 $— $— $6,001 $389 
  
Fair Value Measurements
at December 31, 2023
Fiscal Year Ended
December 31, 2023
 TotalLevel 1Level 2Level 3Impairment
Losses
(dollar amounts in thousands)
Operating lease assets$5,719 $— $— $5,719 $4,291 
  
Fair Value Measurements
at December 25, 2022
Fiscal Year Ended
December 25, 2022
 TotalLevel 1Level 2Level 3Impairment
Losses
(dollar amounts in thousands)
Certain property and equipment, net
$— $— $— $— $8,821 
Operating lease assets$10,744 $— $— $10,744 $6,228 
v3.25.0.1
PROPERTY AND EQUIPMENT (Tables)
 12 Months Ended
Dec. 29, 2024
Property, Plant and Equipment [Abstract]  
Summary of Property and Equipment Property and equipment are depreciated using the straight-line method over the following estimated useful lives:
Property and EquipmentUseful Life
Leasehold improvements
Shorter of lease term or estimated asset life
Furniture and fixtures
5 years
Kitchen equipment
5 - 10 years
Computers and other equipment
3 years
A summary of property and equipment is as follows:
(dollar amounts in thousands)December 29,
2024		December 31,
2023
Leasehold improvements
$303,035 $262,191 
Kitchen equipment
107,475 89,814 
Computers and other equipment
44,295 37,984 
Furniture and fixtures
43,045 36,692 
Assets not yet placed in service
38,047 26,269 
Total property and equipment
535,897 452,950 
Less: accumulated depreciation
(239,412)(186,048)
Property and equipment - net
$296,485 $266,902 
v3.25.0.1
INTANGIBLE ASSETS, NET (Tables)
 12 Months Ended
Dec. 29, 2024
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)December 29,
2024		December 31,
2023
Internal use software$45,933 $38,336 
Developed technology20,050 20,050 
Total intangible assets65,983 58,386 
Accumulated amortization(41,943)(30,979)
Total$24,040 $27,407 
Schedule of Estimated Amortization of Internal Software Estimated amortization for each of the next five years is as follows:
(dollar amounts in thousands)
2025$9,720 
20267,664 
20275,319 
20281,337 
Total
$24,040 
v3.25.0.1
ACCRUED EXPENSES (Tables)
 12 Months Ended
Dec. 29, 2024
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses
Accrued expenses consist of the following:
(dollar amounts in thousands)December 29,
2024		December 31,
2023
Fixed asset accrual$5,983 $3,577 
Accrued general and sales tax
4,625 3,438 
Accrued settlements and legal fees
3,529 1,439 
Rent deferrals and accrued rent
1,220 1,330 
Accrued delivery fee
970 1,197 
Other accrued expenses
10,237 9,864 
Total accrued expenses
$26,564 $20,845 
v3.25.0.1
LEASES (Tables)
 12 Months Ended
Dec. 29, 2024
Leases [Abstract]  
Components of Lease Cost
The components of lease cost were as follows:
(dollar amounts in thousands)ClassificationDecember 29, 2024December 31, 2023December 25, 2022
Operating lease costOccupancy and related expense
General and administrative expense
Pre-opening costs		51,576 48,168 43,722
Variable lease costOccupancy and related expense
General and administrative expense		12,219 11,055 7,958
Short term lease costOccupancy and related expense
General and administrative expense		612 422 145
Sublease incomeGeneral and administrative expense— (356)(711)
Total lease cost$64,407 $59,289 $51,114 
A summary of lease terms and discount rates for operating leases as of December 29, 2024 and December 31, 2023 is as follows:

December 29, 2024December 31, 2023
Weighted average remaining lease term (years):
Operating Leases7.327.41
Weighted average discount rate:
Operating Leases6.75 %6.51 %

Supplemental cash flow information related to leases as of December 29, 2024, December 31, 2023 and December 25, 2022 as follows:
December 29, 2024December 31, 2023December 25, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net of lease incentives$39,965 $42,425 $29,230 
Right of use assets obtained in exchange for lease obligations:
Operating leases$46,167 $24,416 $57.396 
Derecognition of operating lease assets due to termination or impairment
$389 $4,291 $6,228 
Future Minimum Lease Payments
As of December 29, 2024, future minimum lease payments for operating leases consisted of the following:

(dollar amounts in thousands)
202561,431 
202661,647 
202758,124 
202852,188 
202950,261 
Thereafter
144,004 
Total
427,655 
Less: imputed interest96,941 
Total lease liabilities330,714 
v3.25.0.1
COMMON STOCK (Tables)
 12 Months Ended
Dec. 29, 2024
Equity [Abstract]  
Schedule of Reserved Shares of Common Stock For Issuance
As of December 29, 2024 and December 31, 2023, the Company had reserved shares of common stock for issuance in connection with the following:
 December 29,
2024		December 31,
2023
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 Plan
13,169,869 13,219,388 
Shares reserved for achievement of Spyce milestones500,000 714,285 
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 Plan5,410,024 7,572,945 
Shares available for future issuance under the 2021 Equity Incentive Plan
8,516,216 10,572,899 
Total reserved shares of common stock
31,707,440 36,190,848 
v3.25.0.1
STOCK - BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 29, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity
The following table summarizes the Company’s stock option activity for the fiscal years ended December 29, 2024 and December 31, 2023, including options assumed pursuant to the Spyce Plan, as described above:
(dollar amounts in thousands except share and per share amounts)
Number of
Shares
Weighted-
Average
Exercise
Price Per
Share
Weighted-Average
Remaining
Contractual Term
(In Years)
Aggregate
Intrinsic
Value
Balance—December 25, 2022
13,813,922 $7.86 6.63$34,454 
Options granted
1,588,094 8.66 
Options exercised
(929,963)5.79 
Options forfeited
(1,081,299)11.25 
Options expired
(171,366)11.71 
Balance—December 31, 2023
13,219,388 $7.77 5.97$53,758 
Options granted
2,367,980 19.81 
Options exercised
(1,990,576)6.42 
Options forfeited
(374,453)15.71 
Options expired
(52,470)17.65 
Balance—December 29, 2024
13,169,869 9.88 6.04$297,037 
Exercisable—December 29, 2024
10,057,794 7.77 5.18$247,434 
Vested and expected to vest—December 29, 2024
13,169,869 9.88 6.04$297,037 
Schedule of Fair Value Assumptions
The fair value of each option granted has been estimated as of the date of the grant using the Black-Scholes option-pricing model with the assumptions during the fiscal years ended December 29, 2024, December 31, 2023 and December 25, 2022 included in the table below. The Company has elected to account for forfeitures as they occur.
Input
Fiscal Year Ended
December 29, 2024
Fiscal Year Ended
December 31, 2023
Fiscal Year Ended
December 25, 2022
Risk-free interest rate
3.43%-4.69%
3.50%-4.90%
1.59%-3.95%
Expected term
5.79-6.21 years
5.81-6.22 years
5.08-6.60 years
Expected Volatility
45.38%45.11 %44.25 %
Dividend yield
0%0 %0 %
Summary of RSU Activity
The following table summarizes the Company’s RSU activity for fiscal year ended December 29, 2024:

(dollar amounts in thousands except per share amounts)Number of
Shares
Weighted-
Average
Grant Date Fair Value
Balance—December. 31, 2023951,517 $17.41 
Granted535,789 20.81 
Released
(479,078)20.39 
Forfeited, cancelled, or expired
(98,204)18.70 
Balance—December. 29, 2024910,024 $17.72 
Schedule of Exercise Price Range The founder PSUs are comprised of seven tranches that are eligible to vest based on the achievement of stock price goals, ranging from $30.0 - $75.0 per share, measured over a consecutive 90-calendar day trailing trading period during the performance period as set forth below.
Company Stock Price TargetNumber of PSUs Eligible to Vest
1$30.00 900,000 
2$37.50 900,000 
3$45.00 900,000 
4$52.50 900,000 
5$60.00 900,000 
6$67.50 900,000 
7$75.00 900,000 
Summary of Stock-based Compensation Expense
A summary of stock-based compensation expense recognized fiscal years ended December 29, 2024, December 31, 2023 and December 25, 2022 is as follows:

(dollar amounts in thousands)
Fiscal Year Ended
December 29, 2024
Fiscal Year Ended
December 31, 2023
Fiscal Year Ended
December 25, 2022
Stock-options
$11,773$8,878$10,505
Restricted stock units
8,5468,55732,037
Performance stock units
18,70532,09736,194
Total stock-based compensation
$39,024$49,532$78,736
Share-Based Payment Arrangement, Performance Shares, Activity
The following table summarizes the Company’s PSU activity for the fiscal year ended December 29, 2024:
(dollar amounts in thousands except per share amounts)Number of
Shares
Weighted-
Average
Grant Date Fair Value
Balance—December. 31, 20236,621,428 $15.56 
Granted— — 
Released
(1,800,000)18.19 
Forfeited, cancelled, or expired
(321,428)— 
Balance—December. 29, 20244,500,000 $15.62 
v3.25.0.1
INCOME TAXES (Tables)
 12 Months Ended
Dec. 29, 2024
Income Tax Disclosure [Abstract]  
Schedule of Components of the Provision for Income Taxes
The components of the provision for income taxes for the fiscal year ended December 29, 2024, December 31, 2023, and December 25, 2022 are as follows (in thousands):
(dollar amounts in thousands)Fiscal Year Ended
December 29, 2024
Fiscal Year Ended
December 31, 2023
Fiscal Year Ended
December 25, 2022
Current:
State
111 21 55 
Total Current
111 21 55 
Deferred:
Federal
(1,432)323 1,271 
State
20 35 19 
Total deferred(1,412)358 1,290 
Total provision for income taxes (benefit) expense
$(1,301)$379 $1,345 
Schedule of Reconciliation of Statutory Income Tax Rate to Effective Income Tax Rate
A reconciliation of the Company’s statutory income tax rate to the Company’s effective income tax rate is as follows:
 December 29,
2024		December 31,
2023		December 25,
2022
Federal statutory rate
21.0 %21.0 %21.0 %
Effect of:
State taxes, net of federal benefit
4.2 %6.7 %7.1 %
Permanent differences
(1.9 %)(0.8 %)(0.8 %)
Change in valuation allowance
(19.5 %)(18.5 %)(7.8 %)
Nondeductible executive compensation(20.0 %)(8.2 %)(19.4 %)
Stock compensation and related items15.8 %— %— %
Other
1.8 %(0.5 %)(0.8 %)
Total
1.4 %(0.3 %)(0.7 %)
Schedule of Components of the Company’s Net Deferred Tax (Liabilities)/Assets
Components of the Company’s net deferred tax (liabilities)/assets consisted of the following:
(dollar amounts in thousands)December 29,
2024		December 31,
2023
Deferred tax assets:
Net operating loss carryforward
$219,918 $206,452 
Charitable contributions
178 271 
Deferred rent
23,111 21,045 
Stock-based compensation expense
5,458 6,233 
Accrued expenses
614 580 
Deferred revenue
1,331 855 
Other
5,738 5,140 
Total deferred tax assets
256,348 240,576 
Valuation allowance
(202,709)(184,880)
Total deferred tax assets, net of valuation allowance
53,639 55,696 
Deferred tax (liabilities):
Depreciation and amortization differences
(39,580)(44,691)
State deferred taxes
(14,420)(12,778)
Total deferred tax liabilities
(54,000)(57,469)
Net deferred tax (liability) asset
$(361)$(1,773)
Schedule of Activity Related to Gross Uncertain Tax Positions The following table summarizes the activity related to the Company’s gross uncertain tax positions for the fiscal years ended December 29, 2024 and December 31, 2023:
(dollar amounts in thousands)December 29,
2024		December 31,
2023
Uncertain Tax Positions
Beginning of year balance
$431 $1,556 
(Decreases) increases related to current year tax positions
(338)(1,125)
End of year balance
$93 $431 
v3.25.0.1
NET LOSS PER SHARE (Tables)
 12 Months Ended
Dec. 29, 2024
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:
(dollar amounts in thousands)
Fiscal Year Ended
December 29, 2024
Fiscal Year Ended
December 31, 2023
Fiscal Year Ended
December 25, 2022
Numerator:
Net loss
$(90,373)$(113,384)$(190,441)
Denominator:
Weighted-average common shares outstanding—basic and diluted
114,321,672 111,907,675 110,128,287 
Earnings per share—basic and diluted
$(0.79)$(1.01)$(1.73)
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:
 
Fiscal Year Ended
December 29, 2024
Fiscal Year Ended
December 31, 2023
Fiscal Year Ended
December 25, 2022
Options to purchase common stock13,169,869 13,219,388 13,813,922 
Time-based vesting restricted stock units910,024 951,517 1,780,681 
Performance stock units4,500,000 6,621,428 6,621,428 
Contingently issuable stock500,000 714,285 714,285 
Total common stock equivalents
19,079,893 21,506,618 22,930,316 
v3.25.0.1
Segment Reporting (Tables)
 12 Months Ended
Dec. 29, 2024
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:
Fiscal Year Ended
December 29, 2024		Fiscal Year Ended
December 31, 2023		Fiscal Year Ended
December 25, 2022
General and administrative
Operating support center cost(1)
$107,626 $95,452 $107,697 
Stock-based compensation
39,024 49,532 78,736 
Other expenses(2)
3,292 1,778 934 
Total General and administrative$149,942 $146,762 $187,367 
(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 our Enterprise Risk Management system and the employer portion of the founder performance stock unit payroll tax.
v3.25.0.1
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)
$ / shares in Units, $ in Thousands
 12 Months Ended
Nov. 21, 2021
Dec. 29, 2024
USD ($)
restaurant
hour
segment
state
reportingUnit
Dec. 31, 2023
USD ($)
Dec. 25, 2022
USD ($)
restaurant
Nov. 22, 2021
$ / shares
Sep. 07, 2021
USD ($)
Change in Accounting Estimate [Line Items]            
Number of restaurants | restaurant   246        
Number of states | state   22        
Number of restaurants opened | restaurant   25        
Operating segments | segment   1        
Reportable segments | segment   1        
Stock-based compensation   $ 39,024 $ 49,532 $ 78,736    
Accounts receivable   5,034 3,502      
FDIC insured amount   300        
Deferred cost capitalized in enterprise resource planning   3,800 4,200      
Other assets   $ 3,838 4,218      
Amortization period of deferred costs   7 years        
Abandoned sites and other site selection costs   $ 200 300 900    
Internal costs capitalized   4,600 4,700      
Business exit costs       400    
Restructuring charges   2,276 7,437 14,442    
Non-cash restructuring expense       $ 13,000    
Workforce reductions percentage       5.00%    
Other related expenses       $ 200    
Research and development   1,000 1,200 2,000    
Payment of contingent consideration   $ 3,868 10,421 0    
Number of reporting units | reportingUnit   1        
Lease term   10 years        
Impairment of property and equipment and operating lease assets   $ 1,700        
Operating lease, impairment loss   389 4,291 6,200    
Impairment and closure costs   1,300   15,000    
Marketing expense   $ 16,900 14,300 14,500    
Dividend yield   0.00%        
Matching percent   50.00%        
Percent of employees' gross pay   3.00%        
Eligible worked period   6 months        
Employee eligible working hours | hour   500        
Eligible age   21 years        
Matching contribution     1,000      
Letter of Credit            
Change in Accounting Estimate [Line Items]            
Restricted Cash   $ 2,500        
Restructuring charges            
Change in Accounting Estimate [Line Items]            
Impairment and closure costs       $ 12,600    
Impairment and closure costs, extensible enumeration       Restructuring charges    
Impairment and closure costs            
Change in Accounting Estimate [Line Items]            
Impairment and closure costs       $ 2,400    
Impairment and closure costs, extensible enumeration       Impairment and closure costs    
General and Administrative Expense            
Change in Accounting Estimate [Line Items]            
Marketing expense   13,200 10,700 $ 10,900    
Other restaurant operating costs            
Change in Accounting Estimate [Line Items]            
Marketing expense   3,300 3,100 2,700    
Preopening costs            
Change in Accounting Estimate [Line Items]            
Marketing expense   400 500 1,000    
Property, Plant and Equipment            
Change in Accounting Estimate [Line Items]            
Impairment and closure costs       8,800    
Property, Plant and Equipment | Restructuring charges            
Change in Accounting Estimate [Line Items]            
Impairment and closure costs   $ 6,800        
Impairment and closure costs, extensible enumeration   Restructuring charges        
Property, Plant and Equipment | Impairment and closure costs            
Change in Accounting Estimate [Line Items]            
Impairment and closure costs   $ 2,000        
Impairment and closure costs, extensible enumeration   Impairment and closure costs        
Property Subject to Operating Lease            
Change in Accounting Estimate [Line Items]            
Impairment and closure costs     6,200      
Impairment and closure costs, extensible enumeration   Restructuring charges        
Property Subject to Operating Lease | Restructuring charges            
Change in Accounting Estimate [Line Items]            
Impairment and closure costs     $ 5,800      
Impairment and closure costs, extensible enumeration     Restructuring charges      
Property Subject to Operating Lease | Impairment and closure costs            
Change in Accounting Estimate [Line Items]            
Impairment and closure costs     $ 400      
Impairment and closure costs, extensible enumeration     Restructuring charges      
Vacated Sweetgreen Support Center            
Change in Accounting Estimate [Line Items]            
Impairment and closure costs       $ 6,800    
Impairment and closure costs, extensible enumeration       Restructuring charges    
Vacated Sweetgreen Support Center | Restructuring charges            
Change in Accounting Estimate [Line Items]            
Impairment and closure costs       $ 5,800    
Impairment and closure costs, extensible enumeration       Restructuring charges    
Vacated Sweetgreen Support Center | Impairment and closure costs            
Change in Accounting Estimate [Line Items]            
Impairment and closure costs       $ 400    
Impairment and closure costs, extensible enumeration       Impairment and closure costs    
Certain Store Locations            
Change in Accounting Estimate [Line Items]            
Impairment and closure costs       $ 2,000    
One Spyce store closed            
Change in Accounting Estimate [Line Items]            
Number of restaurants | restaurant   3   1    
Impairment and closure costs   $ 500   $ 500    
Minimum            
Change in Accounting Estimate [Line Items]            
Lease term   10 years        
Renewal term   5 years        
Maximum            
Change in Accounting Estimate [Line Items]            
Lease term   15 years        
Renewal term   15 years        
Internal use software            
Change in Accounting Estimate [Line Items]            
Useful life   3 years        
Developed technology            
Change in Accounting Estimate [Line Items]            
Useful life   5 years        
Abandonment of Potential Future Restaurant Sites            
Change in Accounting Estimate [Line Items]            
Business exit costs       600    
Facility Closing            
Change in Accounting Estimate [Line Items]            
Restructuring charges   $ 2,300 $ 7,400 6,800    
Contract Termination            
Change in Accounting Estimate [Line Items]            
Restructuring charges       5,800    
Employee Severance            
Change in Accounting Estimate [Line Items]            
Severance       $ 600    
Operating Lease Costs            
Change in Accounting Estimate [Line Items]            
Restructuring charges   1,500 1,800      
Variable Lease Costs            
Change in Accounting Estimate [Line Items]            
Restructuring charges   $ 500 $ 500      
New York City metropolitan area | Revenue | Geographic            
Change in Accounting Estimate [Line Items]            
Concentration risk percentage   25.00% 28.00% 32.00%    
Credit card processors            
Change in Accounting Estimate [Line Items]            
Accounts receivable   $ 2,300 $ 3,000      
PSU            
Change in Accounting Estimate [Line Items]            
Stock-based compensation   $ 18,705 32,097 $ 36,194    
Vesting period   1 year        
Options            
Change in Accounting Estimate [Line Items]            
Stock-based compensation   $ 11,773 $ 8,878 $ 10,505    
Dividend yield   0.00% 0.00% 0.00%    
Options | Minimum            
Change in Accounting Estimate [Line Items]            
Vesting period   12 months        
Options | Maximum            
Change in Accounting Estimate [Line Items]            
Vesting period   4 years        
RSUs            
Change in Accounting Estimate [Line Items]            
Stock-based compensation   $ 8,546 $ 8,557 $ 32,037    
Vesting period 4 years          
Spyce            
Change in Accounting Estimate [Line Items]            
Contingent consideration liability   14,974 8,400     $ 16,400
Spyce | Other Current Liabilities            
Change in Accounting Estimate [Line Items]            
Contingent consideration liability           $ 9,700
Spyce | Contingent Consideration Liability            
Change in Accounting Estimate [Line Items]            
Contingent consideration liability   5,300        
Spyce | PSU            
Change in Accounting Estimate [Line Items]            
Stock-based compensation   $ 2,400 $ 3,400      
IPO            
Change in Accounting Estimate [Line Items]            
Shares issued (in dollars per share) | $ / shares         $ 28.00  
v3.25.0.1
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reconciliation of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($)
$ in Thousands
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Dec. 26, 2021
Reconciliation of cash, cash equivalents and restricted cash:        
Cash and cash equivalents $ 214,789 $ 257,230    
Restricted cash, non-current 2,640 125    
Total cash, cash equivalents and restricted cash shown on statement of cash flows $ 217,429 $ 257,355 $ 331,739 $ 472,299
v3.25.0.1
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Property and Equipment (Details)
Dec. 29, 2024
Furniture and fixtures  
Property, Plant and Equipment [Line Items]  
Useful Life 5 years
Kitchen equipment | Minimum  
Property, Plant and Equipment [Line Items]  
Useful Life 5 years
Kitchen equipment | Maximum  
Property, Plant and Equipment [Line Items]  
Useful Life 10 years
Computers and other equipment  
Property, Plant and Equipment [Line Items]  
Useful Life 3 years
v3.25.0.1
REVENUE RECOGNITION - Narrative (Details)
 12 Months Ended
Dec. 29, 2024
revenue_stream
Revenue from Contract with Customer [Abstract]  
Number of revenue streams 1
v3.25.0.1
REVENUE RECOGNITION - Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Disaggregation of Revenue [Line Items]      
Total Revenue $ 676,826 $ 584,041 $ 470,105
Owned Digital Channels | Direct      
Disaggregation of Revenue [Line Items]      
Total Revenue 205,688 212,872 191,129
In-Store Channel (Non-Digital component) | Direct      
Disaggregation of Revenue [Line Items]      
Total Revenue 295,300 242,073 177,996
Marketplace Channel | 3rd party      
Disaggregation of Revenue [Line Items]      
Total Revenue $ 175,838 $ 129,096 $ 100,980
v3.25.0.1
REVENUE RECOGNITION - Schedule of Contract with Customer, Contract Asset, Contract Liability, and Receivable (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Disaggregation of Revenue [Line Items]      
Gift Card Liability $ 4,413 $ 2,797  
Gift Cards      
Disaggregation of Revenue [Line Items]      
Gift Card Liability 4,385 2,797 $ 2,016
Revenue recognized from gift card liability balance at the beginning of the year $ 730 $ 480 $ 378
v3.25.0.1
FAIR VALUE - Schedule of Financial Liabilities Measured at Fair Value on Recurring Basis (Details) - Recurring - USD ($)
$ in Thousands
Dec. 29, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Contingent consideration $ 14,974 $ 8,350
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Contingent consideration 0 0
Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Contingent consideration $ 0 0
Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Contingent consideration   $ 8,350
v3.25.0.1
FAIR VALUE - Narrative (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Sep. 07, 2021
Dec. 29, 2024
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Nov. 22, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]            
Change in fair value of contingent consideration     $ 6,624 $ 3,475 $ 819  
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]     Impairment and closure costs, Restructuring charges      
Impairment and closure costs     $ 2,218 624 $ 2,542  
Impairment of property and equipment and operating lease assets     $ 1,700      
Minimum            
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]            
Discount rate     9.00%      
Maximum            
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]            
Discount rate     9.50%      
IPO            
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]            
Shares issued (in dollars per share)           $ 28.00
Spyce            
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]            
Contingent consideration liability $ 16,400 $ 14,974 $ 14,974 $ 8,400    
Additional shares issued (in shares) 714,285          
Covenant, acquisition company share holders (in shares) 1,316,763          
Spyce | Other Current Liabilities            
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]            
Contingent consideration liability $ 9,700          
Spyce | Contingent Consideration Liability            
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]            
Contingent consideration liability   $ 5,300 $ 5,300      
Spyce | Former Equity Holders, Additional Equity            
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]            
Upfront portion (in dollars per share)   $ 13.62 $ 13.62      
Change in fair value of contingent consideration     $ 10,400      
Acquisition company share holders, not continuously held (in shares)   570,249 570,249      
Business combination, contingent consideration, liability, earnout   $ 6,000        
Business combination, contingent consideration, liability, equity interests issued and issuable, earnout   2,100        
Business combination, contingent consideration, liability, cash, earnout   $ 3,900        
Business acquisition, share price   $ 10.20 $ 10.20      
Equity interest issued (in shares)   208,042        
v3.25.0.1
FAIR VALUE - Schedule of Fair Values Roll Forward of Contingent Consideration (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Beginning Balance $ 8,350 $ 21,296 $ 20,477
True-up payment   (10,421)  
Current portion of contingent consideration included in other current liabilities   (6,000)  
Change in fair value 6,624 3,475 819
Ending Balance $ 14,974 $ 8,350 $ 21,296
v3.25.0.1
FAIR VALUE - Schedule of Non-financial Instruments Measured at Fair Value, on a Nonrecurring Basis (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Impairment Losses $ 1,300   $ 15,000
Operating lease, impairment loss 389 $ 4,291 6,200
Nonrecurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Certain property and equipment, net 0   0
Impairment Losses 1,347   8,821
Operating lease assets 6,001 5,719 10,744
Operating lease, impairment loss 389 4,291 6,228
Nonrecurring | Level 1      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Certain property and equipment, net 0   0
Operating lease assets 0 0 0
Nonrecurring | Level 2      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Certain property and equipment, net 0   0
Operating lease assets 0 0 0
Nonrecurring | Level 3      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Certain property and equipment, net 0   0
Operating lease assets $ 6,001 $ 5,719 $ 10,744
v3.25.0.1
PROPERTY AND EQUIPMENT - Summary of Property and Equipment (Details) - USD ($)
$ in Thousands
Dec. 29, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]    
Total property and equipment $ 535,897 $ 452,950
Less: accumulated depreciation (239,412) (186,048)
Property and equipment - net 296,485 266,902
Furniture and fixtures    
Property, Plant and Equipment [Line Items]    
Total property and equipment 43,045 36,692
Computers and other equipment    
Property, Plant and Equipment [Line Items]    
Total property and equipment 44,295 37,984
Kitchen equipment    
Property, Plant and Equipment [Line Items]    
Total property and equipment 107,475 89,814
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Total property and equipment 303,035 262,191
Assets not yet placed in service    
Property, Plant and Equipment [Line Items]    
Total property and equipment $ 38,047 $ 26,269
v3.25.0.1
PROPERTY AND EQUIPMENT - Narrative (Details)
$ in Thousands
 12 Months Ended
Dec. 29, 2024
USD ($)
store
Dec. 31, 2023
USD ($)
store
Dec. 25, 2022
USD ($)
Property, Plant and Equipment [Line Items]      
Depreciation expense $ 56,400 $ 49,500 $ 38,800
Loss on disposal of property and equipment $ 255 $ 687 278
Number of facilities under construction | store 9 7  
Impairment and closure costs $ 1,300   15,000
Property, Plant and Equipment      
Property, Plant and Equipment [Line Items]      
Impairment and closure costs     8,800
Certain Store Locations      
Property, Plant and Equipment [Line Items]      
Impairment and closure costs     2,000
Impairment and closure costs      
Property, Plant and Equipment [Line Items]      
Impairment and closure costs     $ 2,400
Impairment and closure costs, extensible enumeration     Impairment and closure costs
Impairment and closure costs | Property, Plant and Equipment      
Property, Plant and Equipment [Line Items]      
Impairment and closure costs $ 2,000    
Impairment and closure costs, extensible enumeration Impairment and closure costs    
Restructuring charges      
Property, Plant and Equipment [Line Items]      
Impairment and closure costs     $ 12,600
Impairment and closure costs, extensible enumeration     Restructuring charges
Restructuring charges | Property, Plant and Equipment      
Property, Plant and Equipment [Line Items]      
Impairment and closure costs $ 6,800    
Impairment and closure costs, extensible enumeration Restructuring charges    
v3.25.0.1
INTANGIBLE ASSETS, NET - Intangible Asset, Net (Details) - USD ($)
$ in Thousands
Dec. 29, 2024
Dec. 31, 2023
Finite-lived Intangible Assets [Line Items]    
Total intangible assets $ 65,983 $ 58,386
Accumulated amortization (41,943) (30,979)
Total 24,040 27,407
Internal use software    
Finite-lived Intangible Assets [Line Items]    
Total intangible assets 45,933 38,336
Developed technology    
Finite-lived Intangible Assets [Line Items]    
Total intangible assets $ 20,050 $ 20,050
v3.25.0.1
INTANGIBLE ASSETS, NET - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Finite-lived Intangible Assets [Line Items]      
Amortization of cloud computing arrangements $ 914 $ 880 $ 224
Developed technology      
Finite-lived Intangible Assets [Line Items]      
Useful life 5 years    
Internal use software      
Finite-lived Intangible Assets [Line Items]      
Useful life 3 years    
Amortization of cloud computing arrangements $ 11,000 $ 10,000 $ 7,700
v3.25.0.1
INTANGIBLE ASSETS, NET - Estimated Amortization of Internal Software (Details) - USD ($)
$ in Thousands
Dec. 29, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]    
2025 $ 9,720  
2026 7,664  
2027 5,319  
2028 1,337  
Total $ 24,040 $ 27,407
v3.25.0.1
ACCRUED EXPENSES - Schedule of Accrued Expenses (Details) - USD ($)
$ in Thousands
Dec. 29, 2024
Dec. 31, 2023
Payables and Accruals [Abstract]    
Rent deferrals and accrued rent $ 1,220 $ 1,330
Accrued general and sales tax 4,625 3,438
Accrued delivery fee 970 1,197
Accrued settlements and legal fees 3,529 1,439
Fixed asset accrual 5,983 3,577
Other accrued expenses 10,237 9,864
Total accrued expenses $ 26,564 $ 20,845
v3.25.0.1
DEBT - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 14, 2020
Debt Instrument [Line Items]      
Unamortized loan origination fees   $ 100,000  
Interest expense $ 100,000 $ 100,000  
Line of Credit | Revolving Credit Facility | 2020 Credit Facility      
Debt Instrument [Line Items]      
Borrowing capacity     $ 45,000,000.0
Line of Credit | Letter of Credit | 2020 Credit Facility      
Debt Instrument [Line Items]      
Borrowing capacity     $ 3,500,000
v3.25.0.1
LEASES - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Lessee, Lease, Description [Line Items]      
Adjustment to accumulated deficit $ 875,358 $ 784,985  
Operating lease, impairment loss 389 4,291 $ 6,200
Impairment and closure costs 1,300   15,000
Rent deferrals and accrued rent 1,220 1,330  
Additional operating lease commitments $ 27,500    
Property Subject to Operating Lease      
Lessee, Lease, Description [Line Items]      
Impairment and closure costs   6,200  
Impairment and closure costs, extensible enumeration Restructuring charges    
Restructuring charges      
Lessee, Lease, Description [Line Items]      
Impairment and closure costs     $ 12,600
Impairment and closure costs, extensible enumeration     Restructuring charges
Restructuring charges | Property Subject to Operating Lease      
Lessee, Lease, Description [Line Items]      
Impairment and closure costs   $ 5,800  
Impairment and closure costs, extensible enumeration   Restructuring charges  
Impairment and closure costs      
Lessee, Lease, Description [Line Items]      
Impairment and closure costs     $ 2,400
Impairment and closure costs, extensible enumeration     Impairment and closure costs
Impairment and closure costs | Property Subject to Operating Lease      
Lessee, Lease, Description [Line Items]      
Impairment and closure costs   $ 400  
Impairment and closure costs, extensible enumeration   Restructuring charges  
v3.25.0.1
LEASES - Increases (Decreases) To Consolidated Balance Sheet (Details) - USD ($)
$ in Thousands
Dec. 29, 2024
Dec. 31, 2023
Lessee, Lease, Description [Line Items]    
Current portion of lease acquisition costs $ 93 $ 93
Operating lease assets 257,496 243,992
Prepaid expenses 7,844 5,767
Other current assets 4,790 7,450
Lease acquisition costs, net 333 426
Current portion of operating lease liabilities 41,773 31,426
Operating lease liabilities, net of current portion 288,941 271,439
Other non-current liabilities 173 819
Accumulated deficit $ (875,358) $ (784,985)
v3.25.0.1
LEASES - Lease Cost (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Leases [Abstract]      
Operating lease cost $ 51,576 $ 48,168 $ 43,722
Variable lease cost 12,219 11,055 7,958
Short term lease cost 612 422 145
Sublease income 0 (356) (711)
Total lease cost $ 64,407 $ 59,289 $ 51,114
v3.25.0.1
LEASES - Future Minimum Lease Payments (Details)
$ in Thousands
Dec. 29, 2024
USD ($)
Operating Leases  
2025 $ 61,431
2026 61,647
2027 58,124
2028 52,188
2029 50,261
Thereafter 144,004
Total 427,655
Less: imputed interest 96,941
Total lease liabilities $ 330,714
v3.25.0.1
LEASES - Lease Terms And Discount Rates (Details)
Dec. 29, 2024
Dec. 31, 2023
Leases [Abstract]    
Weighted average remaining lease term (years): 7 years 3 months 25 days 7 years 4 months 28 days
Weighted average discount rate: 6.75% 6.51%
v3.25.0.1
LEASES - Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Leases [Abstract]      
Operating cash flows from operating leases, net of lease incentives $ 39,965,000 $ 42,425,000 $ 29,230,000
Operating leases 46,167,000 24,416,000 57,396
Operating lease, impairment loss $ 389 $ 4,291 $ 6,200
v3.25.0.1
COMMON STOCK - Narrative (Details)
Nov. 22, 2021
vote
$ / shares
Dec. 29, 2024
shares
Dec. 31, 2023
shares
Class of Stock [Line Items]      
Death or permanent disability of founder 1 year    
IPO      
Class of Stock [Line Items]      
Shares issued (in dollars per share) | $ / shares $ 28.00    
Class B Common Stock Converted To Class A Common Stock      
Class of Stock [Line Items]      
Death or permanent disability of founder 9 months    
Registration statement for the company’s IPO occurs 10 years    
Sweetgreen, Inc. Founders | Series J Preferred Stock Converted To Common Stock      
Class of Stock [Line Items]      
Conversion ratio 1    
Common Class B      
Class of Stock [Line Items]      
Votes per share | vote 10    
Common stock, shares outstanding (in shares) | shares   11,915,758 12,939,094
Common Class A      
Class of Stock [Line Items]      
Votes per share | vote 1    
Common stock, shares outstanding (in shares) | shares   105,200,553 99,700,052
v3.25.0.1
COMMON STOCK - Schedule of Reserved shares of Common Stock For Issuance (Details) - shares
Dec. 29, 2024
Dec. 31, 2023
Class of Stock [Line Items]    
Total reserved shares of common stock 31,707,440 36,190,848
Shares available for future issuance under the 2019 Equity Incentive Plan and 2021 Equity Incentive Plan    
Class of Stock [Line Items]    
Total reserved shares of common stock 8,516,216 10,572,899
Shares reserved for achievement of Spyce milestones    
Class of Stock [Line Items]    
Total reserved shares of common stock 500,000 714,285
Options    
Class of Stock [Line Items]    
Total reserved shares of common stock 13,169,869 13,219,388
Shares reserved for employee stock purchase plan    
Class of Stock [Line Items]    
Total reserved shares of common stock 4,111,331 4,111,331
RSUs and PSUs outstanding under the 2019 Equity Incentive Plan and 2021 Equity Incentive Plan    
Class of Stock [Line Items]    
Total reserved shares of common stock 5,410,024 7,572,945
v3.25.0.1
STOCK - BASED COMPENSATION - Narrative (Details)
$ / shares in Units, $ in Thousands
 1 Months Ended 12 Months Ended
Jan. 01, 2023
shares
Nov. 23, 2021
performance_based_milestone_target
shares
Nov. 21, 2021
Oct. 31, 2021
shares
Dec. 29, 2024
USD ($)
tranche
possible_scenario
$ / shares
shares
Dec. 31, 2023
USD ($)
$ / shares
shares
Dec. 25, 2022
USD ($)
$ / shares
shares
Sep. 07, 2021
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Total reserved shares of common stock         31,707,440 36,190,848    
Stock-based compensation | $         $ 39,024 $ 49,532 $ 78,736  
Number of stock options (in shares)         13,169,869 13,219,388 13,813,922  
Weighted average exercise price (in dollars per share) | $ / shares         $ 9.88 $ 7.77 $ 7.86  
Intrinsic value of options exercised | $         $ 50,800 $ 7,500 $ 13,600  
Dividend yield         0.00%      
Unrecognized compensation expense | $         $ 21,600      
Tax expense from award | $         $ 1,100      
Employee                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Weighted average grant date fair value of options (in dollars per share) | $ / shares         $ 9.72 $ 9.07    
Nonemployee                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Weighted average grant date fair value of options (in dollars per share) | $ / shares             $ 8.02  
Options                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Total reserved shares of common stock         13,169,869 13,219,388    
Contractual life         10 years      
Stock-based compensation | $         $ 11,773 $ 8,878 $ 10,505  
Dividend yield         0.00% 0.00% 0.00%  
Expected period for recognition         2 years 29 days      
Expected Volatility         45.38% 45.11% 44.25%  
PSU                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Vesting period         1 year      
Contractual life         10 years      
Stock-based compensation | $         $ 18,705 $ 32,097 $ 36,194  
Weighted average grant date fair value of options (in dollars per share) | $ / shares         $ 16.35      
Unrecognized compensation expense | $         $ 9,800      
Expected period for recognition         8 months 19 days      
Shares granted (in shares)       6,300,000 0 0 6,621,248  
Number of vesting tranches | tranche         7      
Number of possible scenarios | possible_scenario         2      
Unrecognized compensation expense | $         $ 103,000      
Awards exercised         1,800,000      
Fair value of award | $         $ 67,800      
Granted (in dollars per share) | $ / shares         $ 0   $ 15.56  
PSU | Company Stock Price Target $30.00                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Option, exercise price range, upper range limit (in dollars per share) | $ / shares         30.0      
PSU | Company Stock Price Target $75.00                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Option, exercise price range, upper range limit (in dollars per share) | $ / shares         $ 75.00      
PSU | Initial Public Offering Scenario                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Contractual life         10 years      
Expected Volatility         52.00%      
PSU | Change Of Control Scenario                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Contractual life         3 years      
Expected Volatility         90.50%      
PSU | Founder One                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Shares granted (in shares)       2,100,000        
Awards exercised         600,000      
PSU | Founder Two                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Shares granted (in shares)       2,100,000        
Awards exercised         600,000      
PSU | Founder Three                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Shares granted (in shares)       2,100,000        
Awards exercised         600,000      
PSU | Spyce                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Stock-based compensation | $         $ 2,400 $ 3,400    
Employee stock                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Total reserved shares of common stock         4,111,331 4,111,331    
RSUs                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Vesting period     4 years          
Stock-based compensation | $         $ 8,546 $ 8,557 $ 32,037  
Expected period for recognition         1 year 8 months 1 day      
Fair value of shares earned | $         $ 13,700 $ 6,300 $ 15,300  
Shares granted (in shares)         535,789 428,428    
Unrecognized compensation expense | $         $ 9,100      
Awards exercised         479,078      
Granted (in dollars per share) | $ / shares         $ 20.81 $ 9.07 $ 19.45  
Spyce Performance Stock Units                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Shares granted (in shares)   321,428            
Shares outstanding (in shares)         85,395      
Performance based milestone targets | performance_based_milestone_target   3            
Minimum | Options                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Vesting period         12 months      
Minimum | PSU                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Service period         1 year 8 months 12 days      
Minimum | RSUs                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Service period   0 years            
Maximum | Options                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Vesting period         4 years      
Maximum | PSU                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Service period         4 years 4 months 24 days      
Maximum | RSUs                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Service 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      
Maximum number of new common stock authorized for issuance (in shares)         11,500,000      
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
Percentage of outstanding stock maximum         1.00%      
Common stock reserved for issuance, increase, threshold period         10 years      
Maximum shares allowable under the plan (in shares) 4,300,000              
Number of additional shares authorized (in shares) 1,111,331              
Shares available                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Total reserved shares of common stock         8,516,216 10,572,899    
Awards Prior to the 2021 Plan                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Contractual life         10 years      
Awards Prior to the 2021 Plan | Minimum                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Vesting period         1 year      
Awards Prior to the 2021 Plan | Maximum                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Vesting period         4 years      
v3.25.0.1
STOCK - BASED COMPENSATION - Summary of Stock Option Activity (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Number of
Shares      
Beginning Balance (in shares) 13,219,388 13,813,922  
Options granted (in shares) 2,367,980 1,588,094  
Options exercised (in shares) (1,990,576) (929,963)  
Options forfeited (in shares) (374,453) (1,081,299)  
Options expired (in shares) (52,470) (171,366)  
Ending Balance (in shares) 13,169,869 13,219,388 13,813,922
Options exercisable, Number of shares (in shares) 10,057,794    
Options vested and expected to vest, Number of shares (in shares) 13,169,869    
Weighted- Average Exercise Price Per Share      
Beginning Balance (in dollars per share) $ 7.77 $ 7.86  
Options granted (in dollars per share) 19.81 8.66  
Options exercised (in dollars per share) 6.42 5.79  
Options forfeited (in dollars per share) 15.71 11.25  
Options expired (in dollars per share) 17.65 11.71  
Ending Balance (in dollars per share) 9.88 $ 7.77 $ 7.86
Options exercisable, Weighted average exercise price per share (in dollars per share) 7.77    
Options vested and expected to vest, Weighted average exercise price per share (in dollars per share) $ 9.88    
Stock Options Additional Disclosures      
Weighted-Average Remaining Contractual Term (In Years) 6 years 14 days 5 years 11 months 19 days 6 years 7 months 17 days
Options exercisable, Weighted average remaining contractual term 5 years 2 months 4 days    
Options vested and expected to vest, Weighted average remaining contractual term 6 years 14 days    
Aggregate Intrinsic Value $ 297,037 $ 53,758 $ 34,454
Options exercisable, Aggregate intrinsic value 247,434    
Options vested and expected to vest, Aggregate intrinsic value $ 297,037    
v3.25.0.1
STOCK - BASED COMPENSATION - Schedule of Fair Value Assumptions (Details)
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Dividend yield 0.00%    
Options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Risk-free interest rate, minimum 3.43% 3.50% 1.59%
Risk-free interest rate, maximum 4.69% 4.90% 3.95%
Expected Volatility 45.38% 45.11% 44.25%
Dividend yield 0.00% 0.00% 0.00%
Options | Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected term 5 years 9 months 14 days 5 years 9 months 21 days 5 years 29 days
Options | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected term 6 years 2 months 15 days 6 years 2 months 19 days 6 years 7 months 6 days
v3.25.0.1
STOCK - BASED COMPENSATION - Summary of RSU and PSU Activity (Details) - $ / shares
 1 Months Ended 12 Months Ended
Oct. 31, 2021
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
RSUs        
Number of Shares        
Outstanding at beginning of period (in shares)   951,517    
Granted (in shares)   535,789 428,428  
Released (in shares)   (479,078)    
Forfeited (in shares)   (98,204)    
Outstanding at end of period (in shares)   910,024 951,517  
Weighted- Average Grant Date Fair Value        
Outstanding at beginning of period (in dollars per share)   $ 17.41    
Granted (in dollars per share)   20.81 $ 9.07 $ 19.45
Released (in dollars per share)   20.39    
Forfeited (in dollars per share)   18.70    
Outstanding at end of period (in dollars per share)   $ 17.72 $ 17.41  
PSU        
Number of Shares        
Outstanding at beginning of period (in shares)   6,621,428    
Granted (in shares) 6,300,000 0 0 6,621,248
Released (in shares)   (1,800,000)    
Forfeited (in shares)   (321,428)    
Outstanding at end of period (in shares)   4,500,000 6,621,428  
Weighted- Average Grant Date Fair Value        
Outstanding at beginning of period (in dollars per share)   $ 15.56    
Granted (in dollars per share)   0   $ 15.56
Released (in dollars per share)   18.19    
Forfeited (in dollars per share)   0    
Outstanding at end of period (in dollars per share)   $ 15.62 $ 15.56  
v3.25.0.1
STOCK - BASED COMPENSATION - Achievement Of Stock Price Goals (Details) - PSU
 12 Months Ended
Dec. 29, 2024
$ / shares
shares
Company Stock Price Target $30.00  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Option, exercise price range, upper range limit (in dollars per share) | $ / shares $ 30.0
Number of PSUs eligible to vest (in shares) | shares 900,000
Company Stock Price Target $37.50  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Option, exercise price range, upper range limit (in dollars per share) | $ / shares $ 37.50
Number of PSUs eligible to vest (in shares) | shares 900,000
Company Stock Price Target $45.00  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Option, exercise price range, upper range limit (in dollars per share) | $ / shares $ 45.00
Number of PSUs eligible to vest (in shares) | shares 900,000
Company Stock Price Target $52.50  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Option, exercise price range, upper range limit (in dollars per share) | $ / shares $ 52.50
Number of PSUs eligible to vest (in shares) | shares 900,000
Company Stock Price Target $60.00  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Option, exercise price range, upper range limit (in dollars per share) | $ / shares $ 60.00
Number of PSUs eligible to vest (in shares) | shares 900,000
Company Stock Price Target $67.50  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Option, exercise price range, upper range limit (in dollars per share) | $ / shares $ 67.50
Number of PSUs eligible to vest (in shares) | shares 900,000
Company Stock Price Target $75.00  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Option, exercise price range, upper range limit (in dollars per share) | $ / shares $ 75.00
Number of PSUs eligible to vest (in shares) | shares 900,000
v3.25.0.1
STOCK - BASED COMPENSATION - Summary of Stock-based Compensation Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation $ 39,024 $ 49,532 $ 78,736
Stock-options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation 11,773 8,878 10,505
Restricted stock units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation 8,546 8,557 32,037
Performance stock units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation $ 18,705 $ 32,097 $ 36,194
v3.25.0.1
INCOME TAXES - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Operating Loss Carryforwards [Line Items]      
Income tax (benefit) expense $ (1,301,000) $ 379,000 $ 1,345,000
Valuation allowance 202,709,000 184,880,000  
Increase in valuation allowance 17,800,000    
Unrecognized tax benefits 93,000 431,000 $ 1,556,000
Impact of unrecognized tax benefits, if recognized 0    
Interest of penalties associated with any uncertain tax positions 0 $ 0  
ERC payment received $ 3,400,000    
ERC payment received, extensible enumeration other current assets    
ERC payment receivable $ 3,600,000    
ERC payment receivable, extensible enumeration Other current assets    
Labor and related expenses      
Operating Loss Carryforwards [Line Items]      
ERC benefit $ 1,800,000    
General and Administrative Expense      
Operating Loss Carryforwards [Line Items]      
ERC benefit 5,100,000    
U.S. Federal      
Operating Loss Carryforwards [Line Items]      
Net operating loss carryforwards 794,800,000    
Net operating loss carryforwards subject to expiration 101,900,000    
Net operating loss carryforwards not subject to expiration 692,900,000    
State      
Operating Loss Carryforwards [Line Items]      
Net operating loss carryforwards 682,600,000    
Net operating loss carryforwards subject to expiration 602,200,000    
Net operating loss carryforwards not subject to expiration $ 80,400,000    
v3.25.0.1
INCOME TAXES - Components of the Provision for Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Current:      
State $ 111 $ 21 $ 55
Total Current 111 21 55
Deferred:      
Federal (1,432) 323 1,271
State 20 35 19
Total deferred (1,412) 358 1,290
Total provision for income taxes (benefit) expense $ (1,301) $ 379 $ 1,345
v3.25.0.1
INCOME TAXES - Reconciliation of the Statutory Income Tax Rate to the Effective Income Tax Rate (Details)
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Income Tax Disclosure [Abstract]      
Federal statutory rate 21.00% 21.00% 21.00%
Effect of:      
State taxes, net of federal benefit 4.20% 6.70% 7.10%
Permanent differences (1.90%) (0.80%) (0.80%)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-Based Payment Arrangement, Amount (19.50%) (18.50%) (7.80%)
Nondeductible executive compensation (20.00%) (8.20%) (19.40%)
Effective Income Tax Rate Reconciliation, Reconciling Item, Description 15.8 — —
Other 1.80% (0.50%) (0.80%)
Total 1.40% (0.30%) (0.70%)
v3.25.0.1
INCOME TAXES - Components of Net Deferred Tax (Liabilities)/Assets (Details) - USD ($)
$ in Thousands
Dec. 29, 2024
Dec. 31, 2023
Deferred tax assets:    
Net operating loss carryforward $ 219,918 $ 206,452
Charitable contributions 178 271
Deferred rent 23,111 21,045
Stock-based compensation expense 5,458 6,233
Accrued expenses 614 580
Deferred revenue 1,331 855
Other 5,738 5,140
Total deferred tax assets 256,348 240,576
Valuation allowance (202,709) (184,880)
Total deferred tax assets, net of valuation allowance 53,639 55,696
Deferred tax (liabilities):    
Depreciation and amortization differences (39,580) (44,691)
State deferred taxes (14,420) (12,778)
Total deferred tax liabilities (54,000) (57,469)
Net deferred tax (liability) asset $ (361) $ (1,773)
v3.25.0.1
INCOME TAXES - Activity Related to the Gross Uncertain Tax Positions (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Uncertain Tax Positions    
Beginning of year balance $ 431 $ 1,556
(Decreases) increases related to current year tax positions (338) (1,125)
End of year balance $ 93 $ 431
v3.25.0.1
NET LOSS PER SHARE - Narrative (Details)
Nov. 22, 2021
$ / shares
IPO  
Subsidiary, Sale of Stock [Line Items]  
Shares issued (in dollars per share) $ 28.00
v3.25.0.1
NET LOSS PER SHARE - Computation of Net Loss Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Numerator:      
Net loss $ (90,373) $ (113,384) $ (190,441)
Denominator:      
Weighted-average common shares outstanding—basic (in shares) 114,321,672 111,907,675 110,128,287
Weighted-average common shares outstanding— diluted (in shares) 114,321,672 111,907,675 110,128,287
Earnings per share—basic (in dollars per share) $ (0.79) $ (1.01) $ (1.73)
Earnings per share—diluted (in dollars per share) $ (0.79) $ (1.01) $ (1.73)
v3.25.0.1
NET LOSS PER SHARE - Schedule of Anti-dilutive Shares Excluded (Details) - shares
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Total common stock equivalents (in shares) 19,079,893 21,506,618 22,930,316
Options to purchase common stock      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Total common stock equivalents (in shares) 13,169,869 13,219,388 13,813,922
Time-based vesting restricted stock units      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Total common stock equivalents (in shares) 910,024 951,517 1,780,681
Performance stock units      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Total common stock equivalents (in shares) 4,500,000 6,621,428 6,621,428
Contingently issuable stock      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Total common stock equivalents (in shares) 500,000 714,285 714,285
v3.25.0.1
RELATED-PARTY TRANSACTIONS (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Affiliated Entity | Dairy, LLC | Founders and Chief Financial Officer      
Related Party Transaction [Line Items]      
Payments to related parties $ 3.9 $ 4.2 $ 5.2
v3.25.0.1
Segment Reporting (Details)
$ in Thousands
 12 Months Ended
Dec. 29, 2024
USD ($)
segment
Dec. 31, 2023
USD ($)
Dec. 25, 2022
USD ($)
Segment Reporting, Asset Reconciling Item [Line Items]      
Operating segments | segment 1    
Reportable segments | segment 1    
Stock-based compensation $ 39,024 $ 49,532 $ 78,736
General and administrative 149,942 146,762 187,367
Reportable Segment      
Segment Reporting, Asset Reconciling Item [Line Items]      
Operating support center cost(1) 107,626 95,452 107,697
Stock-based compensation 39,024 49,532 78,736
Other expenses(2) 3,292 1,778 934
General and administrative $ 149,942 $ 146,762 $ 187,367