CAVA adds 77 restaurants, grows revenue 32%, but net income slips 8% on tax swing

Filed May 20, 2026 · Period ending April 19, 2026 · Compared to 10-Q May 16, 2025 · ~1 min read

Key Changes

• high

  Net income fell 8% to $23.6M despite 32% revenue growth, driven by an $11.8M tax swing—prior year benefited from a $10.7M equity-comp credit, current year recorded $6.5M provision at 21.5% rate.

  MD&A: Net Income verify on EDGAR →
• high

  Restaurant count jumped 20% to 459 locations across 29 states (vs 382 in 26 states), with 21 new openings this quarter vs 15 last year, signaling accelerated expansion.

  MD&A: Unit Growth verify on EDGAR →
• high

  Operating cash flow surged 66% to $64.1M from $38.6M, driven by stronger operating performance and favorable working capital tied to higher incentive comp accruals.

  MD&A: Cash Flow verify on EDGAR →