Company: CAVA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001639438-25-000007
Chunk: 22

Company: CAVA GROUP, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 22
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 Weeks Ended(in thousands, except per share amounts)July 13,2025July 14,2024July 13,2025July 14,2024Net income$18,368 $19,741 $44,075 $33,734 Weighted-average shares outstanding:Basic115,783 114,130 115,635 114,040 Dilutive awards2,551 4,161 2,757 4,048 Diluted118,334118,291118,392 118,088Earnings per common share:Basic$0.16 $0.17 $0.38 $0.30 Diluted$0.16 $0.17 $0.37 $0.29 The following equity awards were excluded from the calculation of diluted earnings per share:Twelve Weeks EndedTwenty-Eight Weeks Ended(in thousands)July 13,2025July 14,2024July 13,2025July 14,2024Options to purchase common stock106 — 73 2 RSUs128 3 90 2 Total common stock equivalents234 3 163 4 

12.    SEGMENT REPORTING

The Company’s operations are conducted as two operating segments: CAVA and CAVA Foods. CAVA includes the operations of all company-owned CAVA restaurants. CAVA Foods includes the production of dips and spreads used in CAVA restaurants as well as sales from the Company’s consumer-packaged goods (“CPG”) business. 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. CAVA is the Company’s only reportable segment, as CAVA Foods is below the quantitative thresholds for segment reporting purposes.The CODM reviews segment performance and allocates resources based upon restaurant-level profit, which is defined as segment revenues less food, beverage, and packaging, labor, occupancy, and other operating expenses. Restaurant-level profit is used to measure the segment’s profitability as corporate-level expenses are excluded from such measure. The 

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CODM uses restaurant-level profit for each segment in the annual budget to make decisions about the allocation of resources, with the monitoring of actual results to determine appropriate changes to such allocation. All segment revenue is earned in the United States, and all intersegment revenues have been eliminated. Intersegment revenues