Filing Flows

Filing Flows › Companies › Sweetgreen › Cash flow

Sweetgreen cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$22.1M in Q3 2026 · −$101M over twelve months

Operating cash flow−$10.9M
Capital spending−$11.2M
Free cash flow−$22.1M
Cash conversion cycle-3 days

Analysis

In Q3 2026, Sweetgreen generated −$10.9M of operating cash flow and spent $11.2M on capital projects, leaving free cash flow of −$22.1M.

Over the twelve months to Sep 27, 2026, operating cash flow was −$37.1M; the largest uses were capital spending ($64.1M), operating cash flow ($37.1M), other financing ($2K); besides operations, cash came from other investing ($92.9M), shares issued ($228K); the cash balance fell by $8.1M.

Operating cash flow was −$10.9M against net income of −$30.7M. The largest differences: depreciation & amortization +$18.6M, stock-based pay +$3.2M, impairments +$2.5M.

Its cash conversion cycle was -3 days (receivables 3 + inventory 2 − payables 8): suppliers fund its working capital.

Free cash flow

Sweetgreen: free cash flow by quarterSweetgreen: free cash flow by quarter−$20.6MQ4 2024−$29.9MQ1 2025−$13.1MQ2 2025−$37.2MQ3 2025−$39.0MQ4 2025−$29.6MQ1 2026−$10.6MQ2 2026−$22.1MQ3 2026
Operating cash flow less capital spending.
Sweetgreen: operating cash flow against capital spendingSweetgreen: operating cash flow against capital spendingOperating cash flowCapital spending$6.1M$26.7MQ4 2024−$13.1M$16.7MQ1 2025$10.5M$23.6MQ2 2025−$1.4M$35.8MQ3 2025−$8.7M$30.3MQ4 2025−$17.2M$12.4MQ1 2026−$442K$10.1MQ2 2026−$10.9M$11.2MQ3 2026
Latest (Q3 2026): Operating cash flow −$10.9M, Capital spending $11.2M.

Capital allocation, year by year

Sweetgreen: where the cash came from (up) and went (down), by fiscal yearSweetgreen: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow −$64.5MFY2021: Shares issued $525MFY2021: Capital spending −$84.5MFY2021: Acquisitions −$3.3M$525MFY2021FY2022: Operating cash flow −$43.2MFY2022: Shares issued $4.8MFY2022: Capital spending −$96.9M$4.8MFY2022FY2023: Operating cash flow $26.5MFY2023: Shares issued $5.4MFY2023: Capital spending −$89.7M$31.9MFY2023FY2024: Operating cash flow $43.4MFY2024: Shares issued $12.8MFY2024: Capital spending −$84.5M$56.2MFY2024FY2025: Operating cash flow −$12.7MFY2025: Shares issued $3.1MFY2025: Capital spending −$106M$3.1MFY2025
Over these 5 years operating cash flow totalled −$50.5M; the largest uses were capital spending ($462M) and operating cash flow ($120M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$120M
Debtnone
Net cash$120M
Cash runway14 months

Sweetgreen is burning cash: its operations consume cash, a free cash flow of −$101M a year at the current rate against $120M of cash and investments: a runway of about 14 months before any new financing.

Where the cash came from and went

Sweetgreen: sources (+) and uses (−) of cash, Q3 2026Sweetgreen: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$22.8MCapital spending−$11.2MOperating cash flow−$10.9MOther investing−$1.4MOther financing$684KShares issued$63K
Sweetgreen: sources (+) and uses (−) of cash, TTM to Q3 2026Sweetgreen: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing$92.9MCapital spending−$64.1MOperating cash flow−$37.1MCash drawn (+) / kept (−)$8.1MShares issued$228KOther financing−$2K

From profit to cash

Sweetgreen: net income to operating cash flow, Q3 2026Sweetgreen: net income to operating cash flow, Q3 2026Net income−$30.7MDepreciation & amortization$18.6MStock-based pay$3.2MDeferred taxes$3KImpairments$2.5MGains on disposals$238KReceivables$362KInventory−$135KPayables−$1.5MAccrued liabilities−$615KEmployee-related liabilities−$1.7MDeferred revenue−$237KPrepaid and other assets$1.3MOperating cash flow−$10.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026328-3
Q2 2026319-4
Q1 20263212-7
Q4 20254213-8
Q3 20254112-7
Q2 20254112-7
Q1 20254112-7
Q4 20243113-8

Every quarter

QuarterOperating cash flowCapital spendingShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$10.9M−$11.2M$63K$22.8M−$22.1M
Q2 2026−$442K−$10.1M$51K$12.2M−$10.6M
Q1 2026−$17.2M−$12.4M$8K−$67.6M−$29.6M
Q4 2025−$8.7M−$30.3M$106K$40.8M−$39.0M
Q3 2025−$1.4M−$35.8M$335K$38.5M−$37.2M
Q2 2025$10.5M−$23.6M$996K$13.9M−$13.1M
Q1 2025−$13.1M−$16.7M$1.7M$30.8M−$29.9M
Q4 2024$6.1M−$26.7M$3.1M$19.8M−$20.6M

Sweetgreen: income statement and cash flow

Sweetgreen, Q3 2026: revenue $176M (+2% year over year), operating margin -18.1%. The chart follows the revenue to costs, profit and cash.

Sweetgreen: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.