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First Watch Restaurant Group, Inc. (FWRG) Financial History

4 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

Consumer Cyclical · Restaurants · DATA UPDATED 2026-07-09

First Watch Restaurant Group, Inc. (FWRG) operates in the Restaurants industry and is headquartered in Bradenton, United States with about 17,500 employees. Its market capitalization is roughly $775 million. In the fiscal year ended 2025-12-31, FWRG reported $1.2B in revenue and $19M in net income.

First Watch Restaurant Group, Inc., through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. The company was formerly known as AI Fresh Super Holdco, Inc. and changed its name to First Watch Restaurant Group, Inc. in December 2019.

Interactive charts & full statements → Open the FWRG valuation workbench →

FWRG Revenue & Earnings History — Annual Income Statement

Income statement2025-12-312024-12-312023-12-312022-12-312021-12-31
Total Revenue$1.2B$1.0B$892M$730M
Gross Profit$234M$213M$190M$140M
Operating Income (EBIT)$30M$42M$46M$20M
Net Income$19M$19M$25M$7M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FWRG Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-03-312025-12-312025-09-302025-06-302025-03-31
Total Revenue$331M$316M$316M$308M$282M
Gross Profit$64M$62M$64M$60M$49M
Operating Income (EBIT)$2M$10M$11M$8M$2M
Net Income($3M)$15M$3M$2M($1M)

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FWRG Free Cash Flow History

FWRG Balance Sheet History

Balance sheet2025-12-312024-12-312023-12-312022-12-312021-12-31
Total Assets$1.7B$1.5B$1.3B$1.1B
Total Liabilities$1.1B$919M$706M$581M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive FWRG viewer.

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