Slide 1: Q4 2025 Earnings Supplemental
Q4 2025 Earnings Supplemental February 24th, 2026
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that reflect our current views with respect to, among other things, our operations and financial performance. F
Slide 3: Our Mission
OUR MISSION To bring heart, health, and humanity to food. WE BELIEVE IN: Serving delicious food that helps more people eat well and live well. Taking care of the people and things that feed us: the earth, farmers, purveyors, and team members. Food as a unifier, for a more diverse yet inclusive world
Slide 4: Q4 2025 Results
DRAFT Q4 2025 RESULTS Same Restaurant CAVA Revenue Sales (SRS%) $272.8M 0.5% +21.2% versus Q4 2024 CAVA 2-Year SRS 21.7% CAVA Restaurant-Level Profit Margin Adjusted EBITDA* $25.8M 21.4% $58.3M CAVA +2.6% versus Q4 2024 Restaurant-Level Profit Net Income $4.9M *Adjusted EBITDA, a non-GAAP measure, i
Slide 5: FY 2025 Results
DRAFT FY 2025 RESULTS Same Restaurant CAVA Revenue Sales (SRS%) $1.2B 4.0% +22.5% versus FY 2024 CAVA 2-Year SRS 17.4% CAVA Restaurant-Level Profit Margin Adjusted EBITDA* $152.8M 24.4% $285.0M CAVA +21.0% versus FY 2024 Restaurant-Level Profit Net Income* Free Cash Flow* $63.7M $26.1M +26.9% versus
Slide 6: Q4 2025 Business Highlights
Q4 2025 • CAVA Revenue up 22.5% YoY BUSINESS HIGHLIGHTS • 0.5% SRS%growth • 170bps acceleration CAVA Revenue (in millions) Same Restaurant Sales on 2-Year SRS% SRS% 2-Year SRS $328.5 $278.2 $289.8 $272.8 32.6% 20.0% 21.7% $225.1 13.1% 16.5% 21.2% • 24 Net New CAVA 10.8% Restaurant Openings 2.1% 1.9%
Slide 7: 2025 Strategic Pillars
2025 STRATEGIC PILLARS Expand Our Mediterranean Way in Communities Across The Country Develop Personal Relationships with Guests, Even As We Scale Run Great Restaurants, Every Location, Every Shift Operate as a High-Performing Team
Slide 8: New Culinary Innovation
NEW CULINARY INNOVATION CAVA kicked off 2026 with a new Mediterranean menu fully loaded with flavors. That means bold new staples, satisfying bowls, and the return of the fan favorite white sweet potato. Sumac Sour Cream and A few guest feelings… Onion Pita Chips Sumac Slaw “New Year New Blessings “
Slide 9: Upcoming New Market Entries
UPCOMING NEW MARKET ENTRIES We’re excited to continue momentum in 2026 with upcoming new market entries across the Midwest, including Cincinnati, St. Louis, Columbus, and Minneapolis. Existing Presence Minneapolis, MN Upcoming New Market Entries Cincinnati, OH Columbus, OH St Louis, MO
Slide 10: 2026 Full Year Outlook
2026 FULL YEAR OUTLOOK 2026 FULL YEAR GUIDANCE Net New CAVA Restaurant Openings: 74 - 76 Same Restaurant Sales: 3.0% - 5.0% CAVA Restaurant-Level Profit Margin: 23.7% - 24.2% Pre-opening Costs: $19.5M - $20.0M Adjusted EBITDA: $176.0 – $184.0
Slide 11: Adjusted EBITDA, Adjusted Net Income, & Free Cash Flow Reconciliation
ADJUSTED EBITDA, ADJUSTED NET INCOME, & FREE CASH FLOW RECONCILIATION FY Q4 Q3 Q2 Q1 FY Q4 Adjusted EBITDA Reconciliation, $000s 2025 2025 2025 2025 2025 2024 2024 Net income $63,743 $4,921 $14,747 $18,368 $25,707 $130,319 $78,619 Interest income, net (15,045) (3,272) (3,575) (3,581) (4,617) (16,474