CAVA Group, Inc. reported significant financial growth in its latest 10-Q filing for the sixteen weeks ended April 19, 2026, with total revenue reaching $438.3 million, a 32.1% increase from $331.8 million in the same period last year. The company's restaurant revenue alone surged to $434.4 million, up from $328.5 million, driven by a combination of new restaurant openings and a 9.7% increase in same-restaurant sales. However, net income decreased to $23.6 million, down 8.3% from $25.7 million in the prior year, reflecting increased operating expenses and a higher effective tax rate.
CAVA's operational metrics indicate a robust expansion strategy, with the company operating 459 restaurants across 29 states and Washington, D.C. as of the reporting date, up from 439 restaurants at the end of the previous fiscal period. The company opened 21 new locations during the quarter, contributing to a total of 92 new openings since the same period last year. The average unit volume (AUV) also improved, rising to $3,027 from $2,933, indicating enhanced sales performance per location.
The filing highlights a notable increase in operating expenses, which totaled $413.0 million, up from $316.1 million a year earlier. This rise was primarily attributed to higher costs associated with food, labor, and occupancy, reflecting the company's growth and expansion efforts. General and administrative expenses also increased due to investments in future growth and higher performance-based compensation. Despite these challenges, the company maintained a restaurant-level profit margin of 25.1%, consistent with the previous year.
CAVA's strategic initiatives included a recent amendment to its credit facility, extending the maturity date to March 2031 and increasing revolving commitments from $75 million to $150 million. This move enhances the company's liquidity position, with cash and cash equivalents reported at $295.8 million, up from $282.9 million at the end of December 2025. The company also made a $5 million investment in a convertible promissory note to support technology improvements in its digital business.
Looking ahead, CAVA Group, Inc. remains optimistic about its growth trajectory, with plans for continued expansion and investment in new restaurant openings. The company expects that its operational improvements and strategic investments will position it well to navigate market challenges and capitalize on growth opportunities in the fast-casual dining sector.
About CAVA GROUP, INC.
CAVA Group, Inc. operates a fast-casual restaurant chain specializing in authentic Mediterranean cuisine with chef-curated and customizable bowls, pitas, dips, and spreads. Serving diverse U.S. markets, it targets health-conscious consumers across multiple dietary preferences. The company integrates vertically with proprietary production facilities and a direct supply chain, leveraging digital ordering, catering, and consumer packaged goods to deliver quality, convenience, and a distinctive brand experience.
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