Company: CAVA
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-007882
Chunk: 195

Company: CAVA GROUP, INC.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 195
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 a share of the Company’s common stock on (i) the first day of the offering period or (ii) the last day of the offering period. During fiscal 2024, the Company issued less than 0.1 million shares under the 2023 ESPP. 

12.    EARNINGS (LOSS) PER SHARE

The following table sets forth the computation of earnings (loss) per common share for the fiscal years indicated:(in thousands, except per share amounts)202420232022Net income (loss)$130,319 $13,280 $(58,987)Weighted-average shares outstanding:Basic114,292 60,512 1,328 Dilutive awards3,981 2,936 — Diluted118,273 63,448 1,328 Earnings (loss) per common share:Basic$1.14 $0.22 $(44.41)Diluted$1.10 $0.21 $(44.41)

80

The Company excluded the following potential common shares, presented based on amounts outstanding at the end of each period, from the computation of diluted earnings (loss) per share as the impact would have been anti-dilutive for the fiscal years indicated:(in thousands)202420232022Stock options1 — 1,201 Restricted stock units1 — 1,776 Preferred stock (as converted to common shares)— — 95,204 Total common stock equivalents2 — 98,181 During fiscal 2022, the Company’s potentially dilutive securities have been excluded from the computation of diluted earnings per share as the effect would be anti-dilutive in a net loss position.

13.    SEGMENT REPORTING

The Company’s operations are conducted as three operating segments: CAVA, Zoes Kitchen, and CAVA Foods. These segments were determined on the same basis that the Company’s Chief Executive Officer (“CEO”), who is the chief operating decision maker (“CODM”), manages, evaluates, and makes key decisions regarding the business. Between 2019 and 2023, the Company completed a strategy of converting Zoes Kitchen restaurants into CAVA restaurants, with the last conversion restaurant opening on October 20, 2023, resulting in a total of 153 conversion restaurants. As of March 2, 2023, the Company no longer operates any Zoes Kitchen locations. CAVA Foods is below quantitative thresholds for segment