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Sweetgreen SG Loyalty Liability — Total Gift Cards and Loyalty Liability

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Other financials

Income statement

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Revenue$161.5M-2.9%
Gross profit$16.2M-45.4%
Operating income-$34.3M-20.4%
Net income$125.8M+602%
EPS (diluted)$1.05+600%

Balance sheet

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Cash & equivalents$161.0M-13.7%
Total debt$356.1M+8.1%
Total equity$488.9M+13.0%
Total assets$912.7M+9.4%

Cash flow

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Operating cash flow-$17.2M-30.7%
CapEx$12.4M-25.9%
Free cash flow-$29.6M+1.0%

Valuation

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Market cap$1.06B-26.3%
Enterprise value$1.26B-20.6%
P/E63.4×
P/S1.6×-0.5×

Profitability

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Gross margin13.3%-6.2pp
Operating margin-21.5%+22.8pp
Net margin2.5%+1.4pp
FCF margin-17.6%+929pp

Returns & leverage

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Return on equity3.6%+2.0pp
Debt / equity0.7×0.0×
Current ratio1.6×-0.4×

Where this comes from

Reported directly by Sweetgreen in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiabilityCurrent.

The official record: Sweetgreen’s 10-K, filed February 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Sweetgreen's loyalty liability — total gift cards and loyalty liability?
Sweetgreen (SG) reported loyalty liability — total gift cards and loyalty liability of $3.53M in Q4 2025.
What does loyalty liability — total gift cards and loyalty liability mean?
This metric represents the total outstanding financial obligation owed to customers related to unredeemed gift cards and accrued loyalty program rewards. It serves as a measure of deferred revenue that reflects future customer engagement and potential foot traffic within the restaurant ecosystem. A growing balance indicates strong brand affinity and a larger pool of prepaid capital available for future consumption.