Fiscal Fourth Quarter 2024 Highlights:
CAVA Revenue grew 28.3% to $225.1 million as compared to $175.5 million in the prior year quarter. Excluding $10.9 million of revenue in the 53rd week of fiscal 2023, CAVA Revenue grew 36.8%.
Net New CAVA Restaurant Openings of 15, bringing total CAVA Restaurants to 367, an 18.8% increase in total CAVA Restaurants year over year.
CAVA Same Restaurant Sales Growth of 21.2%
CAVA Restaurant-Level Profit of $50.4 million or growth of 28.2% over the prior year quarter, with CAVA Restaurant-Level Profit Margin of 22.4%, an increase of 50 basis points excluding the 53rd week of fiscal 2023.
CAVA Digital Revenue Mix was 36.8%.
CAVA Group Net Income of $78.6 million compared to $2.0 million in the prior year quarter.
CAVA Group Adjusted EBITDA1 of $25.1 million compared to $15.7 million in the prior year quarter.
Net cash provided by operating activities of $29.9 million with Free Cash Flow1 of $2.1 million.
Fiscal Year 2024 Highlights:
CAVA Revenue grew 33.1% to $954.3 million as compared to $717.1 million in the prior year. Excluding $10.9 million of revenue in the 53rd week of fiscal 2023, CAVA Revenue grew 35.1%.
Net New CAVA Restaurant Openings of 58
CAVA Same Restaurant Sales Growth of 13.4%
CAVA AUV of $2.9 million as compared to $2.6 million excluding the 53rd week of fiscal 2023 in the prior year.
CAVA Restaurant-Level Profit of $238.1 million or growth of 34.2% over the prior year, with CAVA Restaurant-Level Profit Margin of 25.0%, a 20 basis point increase over the prior year.
CAVA Digital Revenue Mix was 36.4%.
CAVA Group Net Income of $130.3 million compared to net income of $13.3 million in the prior year. Excluding the VA Release, CAVA Group Adjusted Net Income1 was $50.2 million compared to $13.3 million in the prior year.
CAVA Group Adjusted EBITDA1 of $126.2 million compared to $73.8 million in the prior year.
Net cash provided by operating activities of $161.0 million with Free Cash Flow1 of $52.9 million