Company: CAVA
Filing Date: 2025-05-16
Form Type: 10-Q
Source: 0001628280-25-026077
Chunk: 10

Company: CAVA GROUP, INC.
Filing Date: 2025-05-16
Form: 10-Q
Item: Item 1
Chunk 10
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 compensation4,483 3,995 Deferred income taxes(5,353)— Impairment and asset disposal costs1,667 1,290 Changes in operating assets and liabilities:Trade accounts receivable(2,468)(1,849)Other accounts receivable(367)2,002 Inventories320 (667)Prepaid expenses and other(3,648)182 Operating lease assets(26,481)(9,446)Accounts payable(1,705)2,199 Accrued expenses and other(8,231)(5,086)Operating lease liabilities33,842 14,451 Net cash provided by operating activities38,577 38,386 Cash flows from investing activities: Purchases of property and equipment(35,875)(33,687)Purchases of debt securities(80,450)— Proceeds from principal payments on debt securities489 — Net cash used in investing activities(115,836)(33,687)Cash flows from financing activities:Tax withholding on equity-based compensation awards— (8,039)Shares purchased under equity plans489 59 Payments on finance lease obligations— (30)Net cash provided by (used in) financing activities489 (8,010)Net change in cash and cash equivalents(76,770)(3,311)Cash and cash equivalents - beginning of year366,120 332,428 Cash and cash equivalents - end of period$289,350 $329,117 Supplemental Disclosure of Cash Flow Information:Cash paid for income taxes1,280 814 Change in accrued purchases of property and equipment4,240 (327)The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

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CAVA GROUP, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1.    NATURE OF OPERATIONS AND BASIS OF PRESENTATION

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 April 20, 2025, the Company operated 382 fast-casual C