Business
UPDATE – First Watch Restaurant Group, Inc. Reports 2025 Financial Results and Provides Outlook for 2026
Total revenues increased 20.3% to $1.2 billion, with System-wide sales up 16.1% to $1.4 billionIncome from operations margin of 2.3% and Restaurant level operating profit margin of 18.5% Net income of $19.4 million and Adjusted EBITDA of $120.9 million 64 system-wide restaurants opened across 23 states BRADENTON, Fla., Feb. 24, 2026 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ: FWRG) (“First Watch” or the “Company”), the leading Daytime Dining concept serving breakfast, brunch
About this update from First Watch Restaurant Group, Inc.
BRADENTON, Fla., Feb. 24, 2026 (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 December 28, 2025 (“Q4 2025”) and the 52-week fiscal year ended December 28, 2025 (“2025”) compared to the thirteen weeks ended December 29, 2024 (“Q4 2024”) and the 52-week fiscal year ended December 29, 2024 (“2024”) and provided an outlook for the 52-week fiscal year ending December 27, 2026 (“2026”). “2025 was a year of significant progress on a number of fronts for First Watch. In addition to continuing our industry-leading new restaurant growth of nearly 11%, we increased total revenues by more than 20%, which included same-restaurant sales growth of 3.6% and positive same-restaurant traffic,” said Chris Tomasso, CEO and President of First Watch. “As we look to 2026 and beyond, we are energized by the growth opportunities across all facets of our business, particularly the expansion of our evolving digital marketing platform.” Highlights for Q4 2025 compared to Q4 2024 ________________________*See Non-GAAP Financial Measures Reconciliations section below. Highlights for 2025 compared to 2024: ________________________*See Non-GAAP Financial Measures Reconciliations section below. Outlook Fiscal Year 2026 The Company provides the following outlook for the 52-week fiscal year ended December 27, 2026: The Company reiterates its long-term annual financial targets as follows: The Company continues to see a long-term opportunity for more than 2,200 restaurants across the United States.______________________(1) Includes net impact of approximately 1.0% in total revenue growth and approximately $2.0 million in Adjusted EBITDA associated with acquisitions completed in 2025. *We have not reconciled guidance for Adjusted EBITDA to the corresponding GAAP financial measure because we do not provide guidance for the various reconciling items. We are unable to provide guidance for these reconciling items because we cannot determine their probable significance, as certain items are outside of our control and cannot be reasonably predicted due to the fact that these items could vary significantly from period to period. Accordingly, reconciliations to the corresponding GAAP financial ...
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