First Watch Restaurant Group (FWRG)
Serves breakfast, brunch, and lunch on a single morning-to-midafternoon restaurant shift.
$10.12
vs last close−0.20 (−1.94%)
In millions of USD, except per-share figures
| In millions | Q3 FY23Sep 2023 | Q4 FY23Dec 2023 | Q1 FY24Mar 2024 | Q2 FY24Jun 2024 | Q3 FY24Sep 2024 | Q4 FY24Dec 2024 | Q1 FY25Mar 2025 | Q2 FY25Jun 2025 | Q3 FY25Sep 2025 | Q4 FY25Dec 2025 | Q1 FY26Mar 2026 | Q2 FY26Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 219 | 245 | 242 | 259 | 252 | 263 | 282 | 308 | 316 | 316 | 331 | 355 |
| Cost of revenue | 175 | 194 | 189 | 200 | 202 | 212 | 67 | 248 | 248 | 254 | 289 | 83 |
| Gross profit | 44 | 50 | 53 | 59 | 50 | 51 | 216 | 60 | 68 | 62 | 42 | 272 |
| 36 | 44 | 41 | 43 | 43 | 47 | 214 | 52 | 58 | 52 | 40 | 238 | |
| 25 | 30 | 28 | 27 | 28 | 31 | 30 | 33 | 37 | 32 | 40 | 39 | |
| Selling & marketing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 0 | 0 | 0 |
| General & administrative | 25 | 30 | 28 | 27 | 28 | 31 | 30 | 33 | 33 | 32 | 40 | 39 |
| Other expenses | 11 | 14 | 13 | 15 | 16 | 17 | 184 | 19 | 21 | 21 | 0 | 200 |
| Operating income | 8 | 7 | 12 | 16 | 6 | 4 | 1 | 7 | 10 | 9 | 3 | 34 |
| −1 | −1 | −2 | −3 | −3 | −3 | −3 | −4 | −4 | −5 | −6 | −30 | |
| Interest expense | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 4 | 5 | 5 | 5 | −5 |
| Other non-operating income | −1 | −1 | 0 | −1 | −1 | 0 | 6 | 0 | 0 | 0 | 1 | 35 |
| Income before tax | 7 | 6 | 10 | 14 | 3 | 1 | −2 | 4 | 6 | 4 | −3 | 3 |
| Income tax expense | 1 | 3 | 3 | 5 | 1 | 0 | 1 | 1 | 3 | −11 | −1 | −1 |
| Net income from continuing operations | 5 | 3 | 7 | 9 | 2 | 1 | −2 | 2 | 3 | 15 | −3 | 4 |
| Other adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | −2 |
| Net income | 5 | 3 | 7 | 9 | 2 | 1 | −2 | 2 | 3 | 15 | −3 | 2 |
| EPS, basic | $0.09 | $0.04 | $0.12 | $0.15 | $0.03 | $0.01 | −$0.01 | $0.03 | $0.05 | $0.25 | −$0.04 | $0.04 |
| EPS, diluted | $0.09 | $0.04 | $0.12 | $0.14 | $0.03 | $0.01 | −$0.01 | $0.03 | $0.05 | $0.24 | −$0.04 | $0.04 |
| Weighted average shares, basic | 60 | 60 | 60 | 60 | 60 | 61 | 61 | 61 | 61 | 61 | 61 | 62 |
| Weighted average shares, diluted | 62 | 62 | 62 | 62 | 62 | 62 | 61 | 63 | 63 | 63 | 61 | 62 |
| EBITDA | 19 | 20 | 25 | 32 | 22 | 20 | 12 | 26 | 30 | 30 | 23 | 20 |
| Depreciation & amortization | 10 | 12 | 12 | 15 | 15 | 16 | 17 | 18 | 20 | 21 | 21 | 22 |
| EBIT | 9 | 8 | 13 | 17 | 7 | 4 | −5 | 8 | 10 | 9 | 1 | −2 |