Slide 1: Q3 2023 Earnings Supplemental Materials
Q3 2023 EARNINGS SUPPLEMENTAL MATERIALS November 7, 2023
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: 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 4
Slide 5: Q3 2023 Results
Q3 2023 RESULTS CAVA Revenue $173.8M +49.5% versus 2022 CAVA Same Restaurant Sales Growth (SRS%) 14.1% CAVA Restaurant Level Profit Margin 25.1% $43.6M CAVA Restaurant Level Profit Total Company Adjusted EBITDA $19.8M 11.3% of Total Company Revenue Total Company Net Income $6.8M 3.9% of Total Compan
Slide 6: Business Highlights
BUSINESS HIGHLIGHTS CAVA Revenue (in millions) CAVA Same Restaurant Sales (SRS%) Growth 28.4% $197 • CAVA Revenue up 49.5% YoY $171 $174 • 14.1% CAVA SRS% growth 18.2% $116 $115 14.8% 14.1% • 7.6% from traffic growth 9.2% 1 1 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3
Slide 7: CAVA Has Proven Portability Across Diverse Market Types and Geographies
CAVA HAS PROVEN PORTABILITY ACROSS DIVERSE MARKET TYPES AND GEOGRAPHIES Northeast $3.5M Q3 AUV 25 Restaurants West $3.2M Q3 AUV 16 Restaurants Mid-Atlantic $2.7M Q3 AUV 62 Restaurants Total CAVA Southeast Q3 AUV $2.3M Q3 AUV $2.6M Southwest 49 Restaurants $2.4M Q3 AUV 213 Restaurants 61 Restaurants
Slide 8: Investing in Our People
INVESTING IN OUR PEOPLE Committed to being the employer of choice by creating an exceptional culture, with competitively positioned compensation in every market Q3 HIGHLIGHTS Continued investments in Team Member wages 45 Academy GMs certified as of end of Q3 with a plan for 50 by EOY Education, reco
Slide 9: A Sweet Return of Fan Favorites
A SWEET RETURN OF FAN FAVORITES Including Balsamic Date Vinaigrette A few guest feelings… SWEET AND SPICY CHICKEN PITA SEASONAL OFFERING “Yes, Yes, YESSSSSS. Finally she’s back ” “Please keep it forever or let me buy a gallon of it, I’m obsessed” “Makes me wanna ask you out on a balsamic date ” BALS
Slide 10: 2023 Full Year Outlook
2023 FULL YEAR OUTLOOK August 15, 2023 November 7, 2023 Net New CAVA Restaurant Openings: Net New CAVA Restaurant Openings: 65-70 70-73 CAVA Same Restaurant Sales Growth: CAVA Same Restaurant Sales Growth: 13.0% to 15.0% 15.0% to 16.0% CAVA Restaurant-Level Profit Margin: CAVA Restaurant-Level Profi
Slide 11: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION Q3 Q2 Q1 Q4 Q3 $000s 2023 2023 2023 2022 2022 Net income (loss) $6,833 $ 6,539 $ (2,141) $ (18,846) $ (11,893) Interest (income) expense, net (3,956) (699) 25 (215) (115) Provision for (benefit from) income taxes 38 40 38 26 (29) Depreciation and amortization 11,528 10