Significant Revenue Growth
Total revenue increased by more than 19% compared to the second quarter of 2024, driven by high-performing new restaurant openings and strategic acquisitions.
Positive Same-Restaurant Sales Growth
Same-restaurant sales growth of 3.5% was reported, with a 2% increase in same-restaurant traffic growth.
Strong New Restaurant Openings
Opened 17 new system-wide restaurants across 8 states, with new restaurants on track to meet or exceed cash-on-cash returns and ROI targets.
Record Performance on Key Holidays
Mother's Day was the busiest day in First Watch's history with record same-restaurant traffic and sales, followed by strong performance on Father's Day.
Improved EBITDA Outlook
Increased adjusted EBITDA guidance to $119 million to $123 million, up from $114 million to $119 million, due to a reduction in egg costs and successful cost management.
Successful Marketing Initiatives
Marketing efforts are yielding positive results, contributing to same-restaurant traffic growth and increased brand awareness, particularly in the Southeast and Southwest.
Expansion of Customer Demographics
Customer base is skewing more towards Gen Z and millennial generations, with the majority of customers now below 50 years old.