First Watch Reports Revenue Growth Amidst Challenges

First Watch Restaurant Group, Inc. ( (FWRG) ) has released its Q1 earnings. Here is a breakdown of the information First Watch Restaurant Group, Inc. presented to its investors.

First Watch Restaurant Group, Inc. is a leading Daytime Dining concept specializing in breakfast, brunch, and lunch, with a focus on fresh ingredients and a chef-driven menu, operating over 580 restaurants across 31 states. In its first quarter of 2025, First Watch reported a 16.4% increase in total revenues, reaching $282.2 million, despite a net loss of $0.8 million. The company opened 13 new restaurants across 10 states, contributing to a total of 584 system-wide locations. Key financial metrics showed mixed results, with system-wide sales increasing by 11.5% to $323 million, but same-restaurant sales and traffic growth remained relatively flat. The company’s income from operations margin decreased significantly from 5.1% to 0.4%, and Adjusted EBITDA dropped to $22.8 million from $28.6 million in the previous year. Looking ahead, First Watch remains optimistic, with plans to open 59 to 64 new restaurants in 2025 and a projected total revenue growth of approximately 20%, despite the challenging macroeconomic environment.