First Watch Restaurant Group Hits 600 Locations, Reports Q2 Growth

First Watch Restaurant Group, Inc. ( (FWRG) ) has released its Q2 earnings. Here is a breakdown of the information First Watch Restaurant Group, Inc. presented to its investors.

First Watch Restaurant Group, Inc. is a prominent player in the Daytime Dining sector, specializing in breakfast, brunch, and lunch offerings across more than 600 locations in the United States.

In its second-quarter earnings report for 2025, First Watch Restaurant Group, Inc. announced a significant milestone, reaching its 600th system-wide restaurant. The company reported a 19.1% increase in total revenues, alongside strategic expansions with 17 new restaurant openings across eight states.

Key financial metrics from the report include a total revenue of $307.9 million, a 15.8% increase in system-wide sales, and same-restaurant sales growth of 3.5%. However, net income saw a decline to $2.1 million from $8.9 million in the previous year, and Adjusted EBITDA decreased to $30.4 million. Despite these declines, the company raised its 2025 Adjusted EBITDA guidance, reflecting confidence in future profitability.

The company also highlighted a decrease in income from operations margin and restaurant level operating profit margin, indicating some challenges in operational efficiency. Nonetheless, First Watch continues to focus on growth, with plans to open 59 to 64 new restaurants by the end of the fiscal year.

Looking ahead, First Watch remains optimistic about its growth trajectory, with expectations of stronger profitability in the latter half of 2025. The company is committed to expanding its footprint and enhancing its operational performance, as reflected in its updated financial guidance.