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Oct 05
CAVA Q3 2025 Earnings Report
CAVA reported solid revenue growth and positive net income in Q3 2025.
Key Takeaways
CAVA Group delivered a strong Q3 2025 with 20% year-over-year revenue growth, positive net income, and continued expansion through new restaurant openings.
Revenue increased to $289,800,000 driven by new restaurant openings and stable traffic.
Net income reached $14,747,000, reflecting operational efficiency.
17 net new CAVA restaurants were opened during the quarter.
Adjusted EBITDA rose to $40,042,000, showing improved performance from new stores.
CAVA
CAVA
CAVA Revenue by Segment
CAVA Revenue by Geographic Location
Revenue by Segment
CAVA Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
CAVA adjusted its full-year 2025 guidance downward slightly, citing macro headwinds and increased costs.
Positive Outlook
- Maintained target of 68 to 70 new restaurant openings.
- Digital mix remains strong, supporting omnichannel growth.
- Unit volumes in the 2025 cohort trending above $3 million.
- Adjusted EBITDA guidance remains high despite headwinds.
- Operational leverage improving general and admin expenses.
Challenges Ahead
- Same-restaurant sales growth guidance reduced to 3.0%–4.0%.
- Restaurant-level margin outlook lowered to 24.4%–24.8%.
- Pre-opening cost guidance increased to $18.0M–$19.0M.
- Adjusted EBITDA guidance trimmed to $148.0M–$152.0M.
- Macroeconomic headwinds continue to pressure traffic and costs.