Cava Group(NYSE) CAVA

Cava helps people eat healthy Mediterranean meals quickly and easily. The company serves customizable bowls and pitas at hundreds of neighborhood locations. It also makes dips and spreads for people to buy at grocery stores.

What's on the Menu?

• CAVA Restaurants: Fast-casual dining locations featuring 38 ingredients for bowls and pitas with 17.4 billion possible combinations.
• Consumer Packaged Goods: Dips, spreads, and dressings sold through grocery stores and whole food markets.
• Digital and Delivery: Orders placed through the app or website for pickup and delivery; represented 37.9% of Cava Revenue in 2025.
• Catering Services: Centralized food production for large groups, currently expanding through specialized Hybrid Kitchens.

Expansion and Strategic Moves

• Acquired Zoes Kitchen in 2018 to significantly expand the company's geographic footprint.
• Completed the conversion of all Zoes Kitchen locations into CAVA restaurants by October 2023.
• Launched a nationwide reimagined loyalty program in 2024 to drive guest frequency and personalized communication.
• Introduced steak as a new permanent menu offering in 2024 to refine initial customer demand assumptions.
• Expanded into new markets in 2025, including South Florida, Detroit, Indianapolis, and Pittsburgh.

Why Cava Stands Out

Cava maintains a vertically-integrated supply chain by manufacturing its own signature dips and spreads to ensure quality across all locations. The company utilizes a data-driven site selection process to balance urban and suburban growth while managing its own production facilities.

Key Performance Facts

• Revenue reached $275 million in Q4 2025, up 20.9% from the same period in 2024.
• Operating income hit $8.4 million in Q4 2025, an increase of 113.3% year-over-year.
• Free cash flow grew to $2.9 million in Q4 2025, up 35.9% from the prior year.
• The restaurant network expanded to 439 locations across 28 states and Washington, D.C. as of December 28, 2025.
• Operating cash flow rose to $40.3 million in Q4 2025, representing a 35% increase from Q4 2024.

Bottom Line

Cava has grown from a single restaurant into a national Mediterranean brand with integrated manufacturing and digital capabilities. The company continues to scale its footprint by converting legacy locations and entering new geographic markets.