FWRG
First Watch·NASDAQ
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FWRG fundamentals
First Watch (FWRG) released its earnings on Nov 4, 2025: revenue was 316.00M (YoY +25.59%), beat estimates; EPS was 0.05 (YoY +66.67%), missed estimates.
Revenue / YoY
316.00M
+25.59%
EPS / YoY
0.05
+66.67%
Report date
Nov 4, 2025
FWRG Earnings Call Summary for Q3,2025
- Revenue Growth: 25.6% YoY to $316M, driven by 7.1% same-restaurant sales and 21 new openings.
- New Restaurant Success: 9/10 all-time highest opening week sales achieved in Q3, with 13/21 being second-gen sites.
- Margin Expansion: Restaurant-level margin 19.7% (80 bps YoY), adjusted EBITDA +60 bps to $34.1M.
- Pricing Strategy: No short-term price hikes to protect long-term 18-20% margin target.
- Employee Strength: 10Q employee retention improvement, named #1 Most Loved Workplace.
- Marketing Impact: 2x engagement in September campaign, 7M identified customers for targeted campaigns.
EPS
Revenue
Revenue & Expenses
FWRG has released its 2025 Q3 earnings report, with revenue of 316.02M, reflecting a YoY change of 25.60%, and net profit of 2.99M, showing a YoY change of 41.62%. The Sankey diagram below clearly presents FWRG's revenue sources and cost distribution.
Key Indicators
First Watch (FWRG) key financial stats and ratios, covering profitability, financial health, and leverage.
First Watch (FWRG)'s revenue and profit trends over recent years, visualized with a waterfall chart to showcase the revenue-to-profit funnel.
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First Watch (FWRG)'s asset and liability trends over recent years, visualized with a waterfall chart to illustrate changes in its asset-liability structure.
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First Watch (FWRG)'s cash flow trends over recent years, visualized with a waterfall chart to illustrate changes in its operating, investing, and financing cash flows.
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Where does First Watch (FWRG) generate its revenue? Explore its key revenue streams and top earning regions.
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Track First Watch (FWRG) Dividend Yield, Payout Ratio & Sustainability Through Its Dividend History
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Dividend Yield
You can ask Aime
What is the market's earnings forecast for First Watch next quarter?What is First Watch's latest dividend and current dividend yield?What does First Watch do and what are its main business segments?What guidance did First Watch's management provide for the next earnings period?What factors drove the changes in First Watch's revenue and profit?What is First Watch's gross profit margin?What were the key takeaways from First Watch's earnings call?What were the key takeaways from First Watch’s earnings call?
