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First Watch Reports Q2 Revenue Growth and Expansion

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First Watch Reports Q2 Revenue Growth and Expansion

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First Watch Restaurant Group ( (FWRG) ) has issued an update.

First Watch Restaurant Group reported a 19.1% increase in total revenues for Q2 2025, reaching $307.9 million, and opened 17 new restaurants, marking its 600th location milestone. Despite a decrease in net income and adjusted EBITDA compared to the previous year, the company raised its annual EBITDA guidance, anticipating stronger profitability in the latter half of 2025, supported by positive same-restaurant sales and traffic growth.

The most recent analyst rating on (FWRG) stock is a Buy with a $26.00 price target. To see the full list of analyst forecasts on First Watch Restaurant Group stock, see the FWRG Stock Forecast page.

Spark’s Take on FWRG Stock

According to Spark, TipRanks’ AI Analyst, FWRG is a Neutral.

First Watch Restaurant Group shows strong growth potential due to revenue increases and strategic expansions. However, high debt levels, negative free cash flow, and margin pressures are significant risks. The high P/E ratio raises concerns about valuation, while technical indicators suggest a neutral trend.

To see Spark’s full report on FWRG stock, click here.

More about First Watch Restaurant Group

First Watch Restaurant Group is a leading Daytime Dining concept that specializes in breakfast, brunch, and lunch. The company is known for its made-to-order dishes using fresh ingredients, and it operates over 600 restaurants across 31 states. First Watch emphasizes quality, hospitality, and community involvement, donating a portion of proceeds from kids’ meals to charitable causes.

Average Trading Volume: 924,981

Technical Sentiment Signal: Sell

Current Market Cap: $1.02B

For an in-depth examination of FWRG stock, go to TipRanks’ Overview page.

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