On March 03, 2022, Sweetgreen Inc. (SG) declared its 2021 Q4 and full-year financial results after the market closed. Consequently, the stock rebounded and soared high in the after-hours session.
It seems that investors were dreading the upcoming earnings, unsure of what to expect they caused the stock to lose 11.34% during regular trading. The session saw an active above-average volume of 2.02 million. SG stock closed the session in the red at a value of $21.35 per share. Following the announcement, the stock rebounded to reach $25.01 in the after-hours. Hence, the stock increased by a good 17.14% in the after-hours session on Thursday.
The American fast-casual restaurant chain, Sweetgreen Inc. was founded in 2007. The Washington-based company has a market capitalization of $2.58 billion. In the past five days, its 93.52 million outstanding shares have lost 14.77%. SG stock currently, stands at a year-to-date loss of 33.28%.
SG’s Q4 2021
For Q4 2021, the company reported total revenue of $96.4 million with a YOY growth of 63%.
Moreover, the company had a net loss of $66.2 million in Q4 2021, against $41.1 million in the year-ago quarter.
SG’s adjusted EBITDA loss was $14.2 million in Q4 2021, against $29.0 million in Q4 2020.
Full Year 2021
In fiscal 2021, the company’s total revenue increased by 54% YOY to $339.9 million.
Furthermore, the company incurred a net loss of $153.2 million in fiscal 2021, against $141.2 million in the previous year.
SG reported an adjusted EBITDA loss of $63.1 million in fiscal 2021, against $107.5 million in fiscal 2020.
SG’s 2022 Guidance
For Q1 2022, the company expects an adjusted EBITDA loss of $20-$18 million on revenue of $100-$102 million.
Additionally, for fiscal 2022 SG expects adjusted EBITDA loss of $40-$33 million on revenue of $515-$535 million.
Upcoming Participation
On February 28, the company announced its upcoming participation in the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum. The company will participate in a fireside chat at the event on March 7, 2022, in Las Vegas.
SG’s Other Developments
On February 22, the company announced the opening of its first restaurant in the San Diego area in Carlsbad, CA. This will be the brand’s 14th new market entry. The new location has an indoor space for up to 30 diners with an additional 30 on the outdoor patio.
In addition, SG also promised a donation of a meal to the North County food bank chapter for each meal sold on opening day.
