Company: CAVA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001639438-25-000007
Chunk: 36

Company: CAVA GROUP, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 36
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 often have to be replaced in the future, and Adjusted EBITDA does not reflect any cash requirements for such replacements; and 

•other companies in our industry may calculate Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net Income, and Adjusted Net Income margin differently than we do, limiting their usefulness as comparative measures.

Because of these limitations, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net Income, and Adjusted Net Income margin should not be considered as measures of discretionary cash available to invest in business growth or to reduce any applicable indebtedness.

The following table provides a reconciliation of net income to Adjusted EBITDA and net income margin to Adjusted EBITDA margin:

Twelve Weeks EndedTwenty-Eight Weeks Ended(in thousands)July 13,2025July 14,2024July 13,2025July 14,2024Net income$18,368$19,741$44,075$33,734Non-GAAP AdjustmentsInterest income, net(3,581)(3,824)(8,198)(8,738)Provision for (benefit from) income taxes5,332287(21)539Depreciation and amortization16,81513,73337,62631,055Equity-based compensation4,5703,57111,2328,741Other income, net(474)(60)(501)(138)Impairment and asset disposal costs1,0748302,7412,120Restructuring and other costs—70—352Adjusted EBITDA$42,104$34,348$86,954$67,665Revenue$280,615$233,495$612,441$492,501Net income margin 6.5 %8.5 %7.2 %6.8 %Adjusted EBITDA margin15.0 %14.7 %14.2 %13.7 %

The following table provides a reconciliation of net income to Adjusted Net Income and net income margin to Adjusted Net Income margin:

Twelve Weeks EndedTwenty-Eight Weeks Ended(in thousands)July 13,2025July 14,2024July 13,2025July 14,2024Net income$18,368 $19,741 $44,075 $33,734 Quarterly allocation of income tax expense, excluding VA Release1— (2,953)— (