CAVA · 10-K filed 25 Feb 2026 · year to 28 Dec 2025

Cava Group

21 named things its latest annual report says its results depend on, each in the company's own words. 12 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Suppliers

Third-party distributors

depends onnamed as a risk

We engage with third-party suppliers for some of our food items and products, including packaging, and we rely on a distribution network with a limited number of distribution partners for the majority of our national distribution program for our restaurants.Risk factors (Item 1A)

Also named by ADI, VLTO

Single-source ingredient suppliers

depends onnamed as a risk

For example, we rely on a limited number of suppliers, and, in some cases, on single-source suppliers, for several ingredients.Risk factors (Item 1A)

Partners and platforms

Third-party delivery services

depends onnamed as a risk

Substantially all of our delivery orders, including native delivery orders, are fulfilled through our third-party delivery partners.Risk factors (Item 1A)

Also named by HSIC, MCD, QSR

Places

Verona, Virginia

operates in · 55,000-square-footnamed as a risk

A natural disaster, severe weather, fire, power interruption, work stoppage, labor shortages or unrest, restrictive governmental actions, outbreaks of pandemics or diseases, or other calamity at any of our production facilities would significantly disrupt our ability to operate our business.Risk factors (Item 1A)

Laurel, Maryland

operates in · 30,000-square-foot

We operate a 30,000-square-foot production facility in Laurel, Maryland, a state-of-the-art 55,000-square-foot production facility in Verona, Virginia, and a 4,000-square-foot distribution facility in Edison, New Jersey, which we use primarily for CPG distribution in the Northeast.Business (Item 1)

Washington, D.C./Maryland/Virginia metropolitan area

concentrated innamed as a risk

In addition, the opening of new restaurants in or near markets in which we already have a restaurant could adversely affect sales at existing restaurants, particularly in markets in which we have a high concentration of restaurants, such as the Washington, D.C./Maryland/Virginia metropolitan area.Risk factors (Item 1A)

Hazards

Hurricanes

named as a risk

For example, we have experienced periodic shortages in grape tomatoes due to the impact of hurricanes over several of the past years.Risk factors (Item 1A)

Also named by AIG, AN, ASO, BAC, BBY, BJ, BPOP, BRO and 89 more

PFAS

named as a risk

In addition, the health and environmental risks of organic fluorine and per- and polyfluoroalkyl substances (“PFAS”) have been the subject of increased regulatory scrutiny and litigation involving us and others in the restaurant industry.Risk factors (Item 1A)

Also named by ACHR, APG, CAG, CTVA, DD, ES, FDX, INTC and 12 more

Southern California earthquakes

concentrated innamed as a risk

It is possible that weather conditions may impact our business more than other businesses in our industry because of the significant concentration of our restaurants in certain locations, such as the risk of earthquakes in Southern California, coastal winds in New York and North Carolina, wind and water intrusion in southeast coastal areas, and winter storms and freezes in the northeast.Risk factors (Item 1A)

Commodities and inputs

Chicken

exposed to its pricenamed as a risk

In particular, we purchase substantial quantities of chicken, which is subject to significant price fluctuations due to conditions such as weather, feed and chicken prices, industry demand, and other factors.Risk factors (Item 1A)

Also named by CMG, MCD

Olive oil

depends onnamed as a risk

For example, the olive oil we use is sourced from a specific supplier meeting our high standards for taste and quality.Risk factors (Item 1A)

Also named by CPB

Grape tomatoes

depends onnamed as a risk

For example, grape tomatoes yields were adversely impacted by hurricanes and colder temperatures during 2023, leading to a product substitution from December 2023 through February 2024.Risk factors (Item 1A)

Steak

depends onnamed as a risk

Similarly, we have established certain specification criteria for the steak served in our restaurants, which may limit the number of suppliers available.Risk factors (Item 1A)

Regulators

U.S. Food and Drug Administration (FDA)

subject tonamed as a risk

These facilities are licensed to produce and warehouse food products in their respective states and are also registered with the U.S. Food and Drug Administration.Business (Item 1)

Also named by A, ABBV, ABT, AMGN, ARE, ARWR, ATR, AXGN and 112 more

Laws and programs

2022 Credit Facility

$74.1 million of undrawn availability

As of December 28, 2025, we had no outstanding indebtedness, and $74.1 million of undrawn availability, under our 2022 Credit Facility (as defined below).Risk factors (Item 1A)

California Consumer Privacy Act (CCPA)

subject tonamed as a risk

For example, the California Consumer Privacy Act of 2018 (“CCPA”) took effect on January 1, 2020, which broadly defines personal information, gives California residents expanded privacy rights and protections, and provides for civil penalties for certain violations.Risk factors (Item 1A)

Also named by AAP, AIOT, AKAM, ALL, APP, AYI, BAC, BBSI and 69 more

One Big Beautiful Bill Act (OBBBA)

subject tonamed as a risk

The OBBBA extended certain provisions of the Tax Cuts and Jobs Act (“TCJA”) that were set to expire for tax years beginning after December 31, 2025 and introduced other significant changes in many areas of tax law that may have a material impact on us.Risk factors (Item 1A)

Also named by AA, ABR, ADI, ADM, ALB, AMAT, AMGN, AMKR and 121 more

U.S. import tariffs

exposed to its pricenamed as a risk

For example, we have experienced price increases as a result of tariffs on certain items, including olive oil, sugar, rice, beef, lamb and paper products.Risk factors (Item 1A)

Also named by AOS, APLD, BJ, BMI, CVLG, CVS, DKS, DTE and 18 more

Payment Card Industry Data Security Standards (PCI DSS)

subject tonamed as a risk

If we fail to abide by the PCI DSS, we could be subject to fines, penalties, or litigation, which could adversely affect our results of operations.Risk factors (Item 1A)

Also named by BBY, DG, DLTR, FND, HD, JKHY, KR, LUV and 2 more

California Assembly Bill No. 1228

subject tonamed as a risk

From time to time, legislative proposals are made to increase the minimum wage at the U.S. federal, state, and local levels, such as California Assembly Bill No. 1228, which was signed into law in September 2023 and which increased the state’s minimum wage and created a Fast Food Council to set minimum wages and recommend regulations to address working conditions and other matters in the broadly defined fast food industry.Risk factors (Item 1A)

Also named by DPZ

New York City Fair Workweek legislation

subject tonamed as a risk

In particular, several jurisdictions in which we operate, including New York City, have implemented “Fair Workweek” legislation, which generally require fast food employers to provide employees with specified notice in scheduling changes and pay premiums for certain changes made to employees’ schedules, among other requirements.Risk factors (Item 1A)