Business
First Watch Restaurant Group, Inc. Reports Q3 2025 Financial Results
Same-restaurant sales growth of 7.1%Total revenues increased 25.6%Net income of $3.0 million and Adjusted EBITDA of $34.1 million21 new system-wide
About this update from First Watch Restaurant Group, Inc.
[{"type":"text","content":"Same-restaurant sales growth of 7.1%Total revenues increased 25.6%Net income of $3.0 million and Adjusted EBITDA of $34.1 million21 new system-wide restaurants opened in 14 states BRADENTON, Fla., Nov. 04, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ: FWRG) (“First Watch” or the “Company”), the leading Daytime Dining concept serving breakfast, brunch and lunch, today reported financial results for the thirteen weeks ended September 28, 2025 (“Q3 2025”). “Our strong third quarter results and sequential year-to-date improvement in same restaurant traffic growth, same restaurant sales growth, and restaurant-level operating profit margin, are testament to the enduring strength of our business model and the efforts of our teams,” stated Chris Tomasso, CEO and President of First Watch. “In light of our performance and considering current trends, we are pleased to guide to the high end of our previous range for FY25 adjusted EBITDA at approximately $123 million and remain confident in a robust finish to the year with continued aggressive growth.” Third Quarter 2025 Highlights: Total revenues increased 25.6% to $316.0 million as compared to $251.6 million in the same period of 2024System-wide sales increased 20.9% to $352.7 million as compared to $291.8 million in the same period of 2024Same-restaurant sales growth of 7.1%Same-restaurant traffic growth of 2.6%Income from operations margin increased to 3.2% as compared to 2.5% in the same period of 2024Restaurant level operating profit margin* increased to 19.7% as compared to 18.9% in the same period of 2024Net income increased to $3.0 million, or $0.05 per diluted share as compared to $2.1 million, or $0.03 per diluted share, in the same period of 2024Adjusted EBITDA* increased to $34.1 million as compared to $25.6 million in the same period of 2024Opened 21 system-wide restaurants in 14 states, with 1 planned closure, resulting in a total of 620 system-wide restaurants (548 company-owned and 72 franchise-owned) across 32 states ___________________* See Non-GAAP Financial Measures Reconciliations section below. For additional financial information related to Q3 2025, refer to the Company’s quarterly report on Form 10-Q filed with the Securities and Exchange Commission on November 4, 2025, which can be accessed at https://investors.firstwatch.com in the Financials...