Slide 1: Q2 2024 Earnings Supplemental Materials
Q2 2024 EARNINGS SUPPLEMENTAL MATERIALS August 22, 2024
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.
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: Q2 2024 Results
Q2 2024 RESULTS CAVA Revenue $231.4M +35.2% versus 2023 CAVA Same Restaurant Sales Growth (SRS%) 14.4% CAVA Traffic Growth of 9.5% CAVA Restaurant Level Profit Margin 26.5% $61.3M CAVA Restaurant Level Profit Total Company Adjusted EBITDA* $34.3M 14.7% of Total Company Revenue Total Company Net Inco
Slide 5: Q2 2024 Business Highlights
Q2 2024 BUSINESS HIGHLIGHTS CAVA Revenue (in millions) CAVA Same Restaurant Sales (SRS%) Growth SRS% 2-Year SRS% $256 $231 • CAVA Revenue up 35.2% YoY 31.5% 32.6% 30.7% $171 $174 $175 26.2% • 14.4% CAVA SRS% growth 23.3% 18.2% • 9.5% traffic growth 14.1% 14.4% 11.4% 2.3% 1 2 1 Q2 2023 Q3 2023 Q4 202
Slide 6: Our 2024 Strategic Pillars
OUR 2024 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 7: A Sizzling Summer Launch
A SIZZLING SUMMER LAUNCH Nationally launched on June 3rd our new Grilled Steak protein option – now available at all CAVA locations A few guest feelings… “The steak was so good. Worth the hype imo“ “My faaaav cava protein thank yall!!!” “OMG NEED IMMEDIATELY” STEAK + FETA PITA STEAK MEZZE SALAD
Slide 8: A Warm Welcome to the Windy City!
A WARM WELCOME TO THE WINDY CITY! Celebrating our latest new market entry in Chicago with our guests and team members WE LOVE CHICAGO!
Slide 9: 2024 Fiscal Year Outlook
2024 FISCAL YEAR OUTLOOK PRIOR GUIDANCE REVISED GUIDANCE Net New Restaurant Openings: 50 - 54 Net New Restaurant Openings: 54 - 57 CAVA Same Restaurant Sales Growth: 4.5% - 6.5% CAVA Same Restaurant Sales Growth: 8.5% - 9.5% CAVA Restaurant Level Profit Margin: 23.7% - 24.3% CAVA Restaurant Level Pr
Slide 10: Adjusted EBITDA & Free Cash Flow Reconciliation
ADJUSTED EBITDA & FREE CASH FLOW RECONCILIATION Q2 Q1 FY Q4 Q3 Q2 Adjusted EBITDA Reconciliation, $000s 2024 2024 2023 2023 2023 2023 Net income $19,741 $13,993 $13,280 $2,049 $6,833 $6,539 Interest income, net (3,824) (4,914) (8,852) (4,222) (3,956) (699) Provision for income taxes 287 252 768 652
Slide 11: Thank You!
THANK YOU!