The following is a summary of the Sweetgreen, Inc. (SG) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Sweetgreen reported a Q3 revenue of $173.4 million, a 13% year-over-year increase.

• Same-store sales grew by 6% with a composition of 4% from menu price increases and 2% from positive traffic and mix.

• Restaurant level margin expanded to 20.2%, reflecting an improvement of over 100 basis points from the previous year.

• Adjusted EBITDA for the quarter was $6.8 million, up from a loss in the previous year.

Business Progress:

• Opened five new restaurants in strategic locations, including several powered by the Infinite Kitchen technology.

• Enhanced menu offerings with new items such as caramelized garlic steak and maple glazed Brussels sprouts contributing to sales growth, especially during dinner and weekends.

• Continuing investment in technology like AI-driven labor scheduling systems to improve operational efficiency and enhance the customer and employee experience.

Opportunities:

• Plans to significantly expand the number of Infinite Kitchens, aiming to open at least 40 new restaurants in 2025, half of which will feature this technology.

• Implementing AI-driven labor scheduling systems to improve operational efficiency and scheduling flexibility.

Risks:

• Incremental cost associated with deploying Infinite Kitchens, ranging from $450,000 to $550,000 each, which may impact short-term financials despite potential long-term benefits.

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