Company: CAVA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049080
Chunk: 61

Company: CAVA GROUP, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 2
Chunk 61
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Twelve Weeks EndedForty Weeks Ended(in thousands)October 5,2025October 6,2024October 5,2025October 6,2024Net income$14,747$17,966$58,822$51,700Non-GAAP AdjustmentsInterest income, net(3,575)(4,091)(11,773)(12,829)Provision for (benefit from) income taxes5,919(57)5,898482Depreciation and amortization17,62814,32555,25445,380Equity-based compensation3,2853,48114,51712,222Other expense (income), net30(50)(471)(188)Impairment and asset disposal costs1,1761,6753,9173,795Restructuring and other costs—230—582Executive transition costs1832—832—Adjusted EBITDA$40,042$33,479$126,996$101,144Revenue$292,238$243,817$904,679$736,318Net income margin 5.0 %7.4 %6.5 %7.0 %Adjusted EBITDA margin13.7 %13.7 %14.0 %13.7 %__________________

1    Includes costs associated with the separation of the Company's Chief Operations Officer.

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

Twelve Weeks EndedForty Weeks Ended(in thousands)October 5,2025October 6,2024October 5,2025October 6,2024Net income$14,747 $17,966 $58,822 $51,700 Quarterly allocation of income tax expense, excluding VA Release1— (2,954)— (7,959)Adjusted Net Income$14,747 $15,012 $58,822 $43,741 Revenue$292,238 $243,817 $904,679 $736,318 Net income margin5.0 %7.4 %6.5 %7.0 %Adjusted Net Income margin5.0 %6.2 %6.5 %5.9 %

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1    Reflects an allocation of income tax expense excluding the net benefit from the release of the valuation allowance