Slide 1: Q2 2023 Earnings Supplemental Materials
Q2 2023 EARNINGS SUPPLEMENTAL MATERIALS
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 1996, that reflect our current views with respect to, among other things, our operations and financial performance. F
Slide 3: Our Story
OUR STORY CAVA IS GROUNDED IN THE MEDITERRANEAN WAY OF LIFE, WHERE FOOD IS AT THE CENTER OF CULTURE AND CONNECTION Ike Grigoropoulos, Chef Dimitri Moshovitis, and Ted Xenohristos have been friends since they were six. Food and hospitality was always coursing through their veins, thanks to growing up
Slide 4: 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 5: Our 2023 Strategic Pillars
OUR 2023 STRATEGIC PILLARS Solidify Our Category Defining Mediterranean Brand Develop a Modern, Best in Class Organization to Support $1B+ in Revenue Build the Infrastructure to Successfully Scale and Grow Our Business
Slide 6: Q2 2023 Results
Q2 2023 RESULTS CAVA Revenue $171.1M +62.4% versus 2022 CAVA Same Restaurant Sales Growth (SRS%) 18.2% CAVA Restaurant Level Profit Margin 26.1% $44.6M CAVA Restaurant Level Profit Total Company Adjusted EBITDA $21.6M 12.5% of Total Company Revenue Total Company Net Income $6.5M 3.8% of Total Compan
Slide 7: Business Highlights
BUSINESS HIGHLIGHTS / CAVA Revenue (in millions) gio5 $116 $115 $197 \ea 2022 Q3 2022 Q42022 Q1 20231 Q2 was ~ $171 CAVA Same Restaurant Sales (SRS%) Growth 28.4% 18.2% 13.3% 14.8% 9.2% Q22022 Q32022 242022 @1 2023' a2 2023 237 214 195 (— CAVA Restaurant Count > 263 279 \e 2022 @3 2022 @42022 Qt 202
Slide 8: CAVA Has Proven Portability Across Diverse Market Types and Geographies
CAVA HAS PROVEN PORTABILITY ACROSS DIVERSE MARKET TYPES AND GEOGRAPHIES Total CAVA Q2 AUV $2.6M 194 Restaurants
Slide 9: Recently Enhanced Unified Web Launch & App Reskin
RECENTLY ENHANCED UNIFIED WEB LAUNCH & APP RESKIN Reduced Friction Enhanced Features Brand Alignment
Slide 10: New Culinary Innovations
NEW CULINARY INNOVATIONS A few guest feelings…
Slide 11: 2023 Full Year Outlook
2023 FULL YEAR OUTLOOK Net New Restaurant Openings: 65-70 CAVA Same Restaurant Sales Growth: 13.0% to 15.0% CAVA Restaurant Level Profit Margin: At least 23.0% Pre-Opening Costs: $13.5M - $14.5M Adjusted EBITDA: $62.0M - $67.0M "
Slide 12: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION