Company: CAVA
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-007882
Chunk: 173

Company: CAVA GROUP, INC.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 173
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008 (3,084)Net change in cash and cash equivalents33,692 293,303 (101,207)Cash and cash equivalents - beginning of year332,428 39,125 140,332 Cash and cash equivalents - end of year$366,120 $332,428 $39,125 

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Fiscal Year Ended(in thousands)December 29,2024December 31,2023December 25,2022Supplemental Disclosure of Cash Flow Information:Offering costs not yet paid$— $— $542 Cash paid for fees and interest related to long-term debt211 330 161 Cash paid for income taxes2,533 116 523 Change in accrued purchases of property and equipment(986)584 5,083 Conversion of redeemable preferred stock into common stock in connection with initial public offering— 662,309 — The accompanying notes are an integral part of these consolidated financial statements.

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CAVA GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1.    NATURE OF OPERATIONS

CAVA Group, Inc. (together with its wholly owned subsidiaries, referred to as the “Company,” “CAVA,” “we,” “us,” and “our” unless specified otherwise) was formed as a Delaware corporation in 2015, and prior to that, the first CAVA restaurant opened in 2011 in Bethesda, Maryland. The Company is headquartered in Washington, D.C. and, as of December 29, 2024, operates 367 fast-casual CAVA Restaurants in 25 states and Washington, D.C. The Company’s authentic Mediterranean cuisine unites taste and health, with a menu that features chef-curated and customizable bowls and pitas. The Company’s dips, spreads, and dressings are centrally produced for use in its restaurants and to be sold in grocery stores.

2.    BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

Initial Public Offering—On June 20, 2023, the Company completed an initial public offering (the “IPO”) of 16.6 million shares of common stock at a price of $22.00 per share, which included 2.2 million shares sold to the underwriters pursuant to their option to purchase additional shares. After underwriting discounts and commissions of $22.8 million and offering expenses of $6