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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$192.7M+3.8%
Gross profit$25.2M-28.3%
Operating income-$27.4M-3.7%
Net income-$26.3M-13.4%
EPS (diluted)-$0.22-10.0%

Balance sheet

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Cash & equivalents$148.8M-13.8%
Total debt$355.4M+4.9%
Total equity$467.6M+10.5%
Total assets$895.7M+7.7%

Cash flow

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Operating cash flow-$442.0K
CapEx$10.1M-57.1%
Free cash flow-$10.6M+19.6%

Valuation

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Market cap$641.67M-42.7%
Enterprise value$848.28M-34.1%
P/E46.9×
P/S0.9×-0.7×

Profitability

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Gross margin11.7%-6.9pp
Operating margin-21.4%+12.4pp
Net margin2%+1.1pp
FCF margin-17.1%+23.9pp

Returns & leverage

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Return on equity3.1%+1.6pp
Debt / equity0.8×0.0×
Current ratio1.4×-0.4×

Where this comes from

Reported directly by Sweetgreen in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiabilityCurrent.

The source filing: Sweetgreen’s 10-K, filed February 27, 2026.

Filed
Feb 26, 2026, 7:00 PM EST
Fiscal year
FY2025
Accession
0001628280-26-012520
(dollar amounts in thousands)December 28, 2025December 29, 2024December 31, 2023
Gift Card Liability$3,649$4,385$2,797
Loyalty Liability3,528
Total Gift Cards and Loyalty Liability$7,177$4,385$2,797

Item 8. Financial Statements and Supplementary DataF-

FAQ

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.

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