Filing Flows › Sweetgreen (SG) › Q3 2025
Sweetgreen (SG) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 7, 2025
Sweetgreen (SG) reported revenue of $172M for the third quarter 2025 (Q3 2025), -0.6% from a year earlier and -7% from the quarter before. Operating margin was -21.0%, net loss $36.1M (21.0% of revenue).
Sweetgreen, Q3 2025: revenue $172M (-0.6% year over year), operating margin -21.0%, net loss $36.1M, operating cash flow −$1.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $172M | -7% | -0.6% |
| Operating profit | −$36.3M | — | — |
| Net earnings | −$36.1M | — | — |
| Operating cash flow | −$1.4M | -113% | — |
What changed
Revenue was $172.4M in Q3 2025, down 1% year over year and down 7% from the previous quarter.
Operating costs exceeded revenue by $36.3M, an operating margin of -21.0%. Total costs grew 7% against a revenue fall of 1%. The fastest-growing cost line was Other operating costs (+46%). The quarter ended with a net loss of $36.1M, wider than the previous quarter's $23.2M loss.
Operating cash flow was −$1.4M. Non-cash charges added back $18.3M of depreciation and amortization and $5.8M of share-based compensation. Working capital and other items added $10.7M. Capital expenditures of $35.8M exceeded it, leaving free cash flow of −$37.2M.
Questions
What was Sweetgreen's revenue in the third quarter 2025?
Sweetgreen (SG) reported revenue of $172M for the third quarter 2025 (Q3 2025), -0.6% from a year earlier and -7% from the quarter before.
Was Sweetgreen profitable in the third quarter 2025?
Operating loss was $36.3M (-21.0% of revenue) and net loss $36.1M.
Source: Sweetgreen 10-Q on SEC EDGAR.