The question, from journalist Kara Swisher to Sweetgreen cofounder and CEO Jonathan Neman, following a discussion on kale and robotics, was simple. “Are you profitable?” she asked, as a 2018 episode of her Recode Decode podcast drew to a close. “We are,” Neman replied.

But when the Los Angeles-based salad chain filed to go public last October, it revealed financials that directly contradicted Neman’s response to Swisher. Sweetgreen had lost $31 million in 2018. In fact, it has lost money every year since 2014. (The company declined to comment.) Investors don’t expect young, growing companies to be profitable, but Sweetgreen is already 14 years old. READ MORE