Updated
The most significant concentration Sweetgreen discloses is Wonder, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Source: Sweetgreen’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'we entered into a supply agreement with Wonder, pursuant to which Wonder agreed to sell Infinite Kitchen units to us on a long-term basis and provide certain services related to the Infinite Kitchen units, including commissioning, support, and maintenance.'”
“10-K Item 1A: 'Historically, our restaurants have been concentrated in large urban areas, such as New York City, Los Angeles, Boston, and the Washington, D.C./Maryland/Virginia metropolitan area, and we do not currently operate outside of the United States.'”
Sweetgreen's concentration risk splits between a supplier dependency and a structural geographic base. The company entered a long-term supply agreement with Wonder, under which Wonder provides Infinite Kitchen units along with commissioning, support, and maintenance services — a dependency-type exposure that ties a core piece of Sweetgreen's operating infrastructure to a single vendor relationship. Separately, the company's restaurants have historically been concentrated in large urban markets such as New York City, Los Angeles, Boston, and the Washington, D.C. metropolitan area, with no current operations outside the United States — a structural exposure reflecting the company's urban-market footprint and domestic-only presence. These two risks are different in kind: the Wonder relationship is an idiosyncratic counterparty risk that could disrupt equipment support or future kitchen rollouts if the relationship were interrupted, while the urban-market concentration is a broader structural exposure to the economic and competitive conditions of a handful of major U.S. cities. Together, they suggest Sweetgreen's growth trajectory is more exposed to a single vendor relationship than its store base is to any single geography, since the urban concentration spans several distinct markets rather than one.
For the engine’s reasoning on SG’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| BJRI | BJ's Restaurants, Inc. | 1 | 1 | 0 | 2 |
| SG● | Sweetgreen, Inc. | 1 | 1 | 0 | 2 |
| BLMN | Bloomin' Brands, Inc. | 1 | 0 | 0 | 1 |
| BH | Biglari Holdings Inc. | 0 | 1 | 0 | 1 |
| BH-A | Biglari Holdings Inc. | 0 | 1 | 0 | 1 |
| BROS | Dutch Bros Inc. | 0 | 1 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.