Sweetgreen, Inc. (SG) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

I'd like to remind everyone that the information under the heading, Forward-Looking Statements, included in our earnings release, also applies to our comments made during the call. These forward-looking statements are based on information as of today, and we assume no obligation to publicly update or revise our forward-looking statements. We also direct you to our earnings release for additional information regarding our use of non-GAP financial measures, including reconciliations of non-GAP financial measures mentioned on the call with their corresponding GAP measures. Our earnings release can be found on our investor website. And now, I'll turn the call over to Jonathan to kick things off. Thank you, Rebecca, and good afternoon. For the past 18 years, we have been building a generational brand, one that reimagines fast food to be healthy, craveable, and rooted in the highest standards of sourcing. The brand resonates broadly across geographies, demographics, and day parts, reinforcing our significant white space ahead and our long-term potential. For the second quarter, we reported sales of $185.6 million and a same-store sales decline of 7.6%. Restaurant level margin for the quarter was 18.9%, and we posted an adjusted EBITDA of $6.4 million. Let me be clear. We are not satisfied with the results we're reporting today. These results reflect the convergence of several external headwinds and internal actions, which were a more cautious consumer environment starting in April, lapping a tough comparison with last year's successful stake launch and the transition of our new loyalty program at the beginning of the quarter. I want to take a moment to provide more context around these dynamics and the steps we're taking in response. In the second quarter, we operated in a...