First Watch Restaurant Group, Inc.FWRGEarnings & Financial Report
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FWRG Q4 FY2025 Key Financial Metrics
Revenue
$316.4M
Gross Profit
N/A
Operating Profit
$9.0M
Net Profit
N/A
Gross Margin
N/A
Operating Margin
2.9%
Net Margin
N/A
YoY Growth
20.2%
EPS
$0.24
First Watch Restaurant Group, Inc. Q4 FY2025 Financial Summary
First Watch Restaurant Group, Inc. reported revenue of $316.4M (up 20.2% YoY) for Q4 FY2025, with a net profit of N/A (N/A margin).
Key Financial Metrics
| Total Revenue | $316.4M |
|---|---|
| Net Profit | N/A |
| Gross Margin | N/A |
| Operating Margin | 2.9% |
| Report Period | Q4 FY2025 |
Revenue Breakdown
First Watch Restaurant Group, Inc. Q4 FY2025 revenue of $316.4M breaks down across 4 segments, led by In Restaurant Dining Sales at $254.1M (80.3% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| In Restaurant Dining Sales | $254.1M | 80.3% |
| Third Party Delivery Sales | $38.6M | 12.2% |
| Take Out Sales | $21.3M | 6.7% |
| Royalty And System Fund Contributions | $2.3M | 0.7% |
First Watch Restaurant Group, Inc. Revenue by Segment — Quarterly Trend
First Watch Restaurant Group, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as In Restaurant Dining Sales and Third Party Delivery Sales) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| In Restaurant Dining Sales | $254.1M | $254.2M | $247.4M | $226.7M |
| Third Party Delivery Sales | $38.6M | $37.2M | $34.5M | $32.0M |
| Take Out Sales | $21.3M | $22.3M | $23.1M | $20.9M |
| Royalty And System Fund Contributions | $2.3M | $2.3M | $2.5M | $2.6M |
First Watch Restaurant Group, Inc. Annual Revenue by Year
First Watch Restaurant Group, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $1.2B).
First Watch Restaurant Group, Inc. Quarterly Revenue & Net Profit History
First Watch Restaurant Group, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $316.4M | +20.2% | N/A | N/A |
| Q3 FY2025 | $316.0M | +25.6% | $3.0M | 0.9% |
| Q2 FY2025 | $307.9M | +19.1% | $2.1M | 0.7% |
| Q1 FY2025 | $282.2M | +16.4% | $-829.0K | -0.3% |
| Q4 FY2024 | $263.3M | +7.6% | N/A | N/A |
| Q3 FY2024 | $251.6M | +14.8% | $2.1M | 0.8% |
| Q2 FY2024 | $258.6M | +19.5% | $8.9M | 3.4% |
| Q1 FY2024 | $242.4M | +14.7% | $7.2M | 3.0% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $242.4M | $258.6M | $251.6M | $263.3M | $282.2M | $307.9M | $316.0M | $316.4M |
| YoY Growth | 14.7% | 19.5% | 14.8% | 7.6% | 16.4% | 19.1% | 25.6% | 20.2% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $1.28B | $1.44B | $1.48B | $1.51B | $1.54B | $1.68B | $1.72B | $1.74B |
| Liabilities | $704.8M | $850.9M | $895.8M | $919.0M | $947.8M | $1.07B | $1.11B | $1.12B |
| Equity | $574.4M | $585.8M | $589.1M | $595.4M | $596.3M | $601.3M | $607.3M | $626.3M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $25.0M | $31.9M | $35.9M | $22.9M | $20.1M | $39.4M | $47.9M | $18.5M |