First Watch Restaurant Group, Inc. (FWRG)

FWRG Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Quarter	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Period Ending	Jun 28, 2026	Mar 29, 2026	Dec 28, 2025	Sep 28, 2025	Jun 29, 2025	Mar 30, 2025	Dec 29, 2024	Sep 29, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 24, 2023	Jun 25, 2023	Mar 26, 2023	Dec 25, 2022	Sep 25, 2022	Jun 26, 2022	Mar 27, 2022	Dec 26, 2021	Sep 26, 2021
Revenue	354.67	330.96	316.35	316.02	307.89	282.24	263.29	251.61	258.56	242.45	244.63	219.21	216.3	211.41	185.75	186.85	184.45	173.11	162.62	157.44
Revenue Growth (YoY)	15.20%	17.26%	20.15%	25.60%	19.08%	16.41%	7.63%	14.78%	19.54%	14.68%	31.70%	17.32%	17.27%	22.12%	14.22%	18.68%	19.80%	36.13%	48.66%	57.84%
Cost of Revenue	282.22	264.23	251.46	248.15	244.7	230.81	207.65	199.59	197.68	187.88	191.4	173.1	166.94	162.83	150.84	150.62	147.51	136.25	130.3	124.33
Gross Profit	72.45	66.73	64.89	67.87	63.19	51.43	55.64	52.02	60.88	54.57	53.23	46.12	49.36	48.58	34.9	36.24	36.94	36.87	32.32	33.11
Selling, General & Admin	38.5	39.57	31.27	33.03	32.39	28.99	29.85	27.1	27.03	27.25	28.95	24.97	25.03	22.37	21.77	21.69	21.85	19.05	20.43	17.02
Operating Expenses	63.65	64.02	54.88	56.51	54.03	48.2	49.94	44.64	43.39	41.08	44.03	37.44	35.72	32.53	32.54	31.86	31.34	28.26	29.58	25.73
Operating Income	8.8	2.7	10.02	11.37	9.16	3.23	5.71	7.39	17.49	13.49	9.21	8.68	13.64	16.05	2.36	4.38	5.6	8.61	2.75	7.38
Interest Expense	-4.89	-4.78	-4.8	-4.57	-4	-3.33	-3.22	-3.44	-3.38	-2.6	-2.27	-1.85	-2.04	-1.91	-1.74	-1.36	-1.13	-1.01	-1.44	-6.05
Other Non Operating Income (Expenses)	0.13	0.35	0.05	0.19	0.27	0.68	0.96	0.62	0.71	0.33	0.99	0.45	0.53	0.35	2.61	-1.3	-0.18	0.16	-1.56	0.09
EBT Excluding Unusual Items	4.04	-1.73	5.27	6.99	5.42	0.58	3.45	4.57	14.82	11.21	7.93	7.28	12.13	14.5	3.23	1.71	4.29	7.77	-0.26	1.42
Merger & Restructuring Charges	-0.56	-1.55	0.59	-1.14	-1.72	-2.11	-0.72	-0.93	-0.89	-0.9	0.27	-0.71	-1.95	-0.56	-0.39	-	-	-0.71	-0	-
Gain (Loss) on Sale of Assets	-0.11	-0.15	-0.14	-0.18	-0.13	-0.01	-0.14	-0.11	-0.15	-0.12	-0.24	-0.19	-0.3	-0.13	-0.35	-0.34	-0.16	-0.08	-0.12	-0.1
Asset Writedown	-	-	-	-	-	-	-	-	-	-	-0.5	-	-	-	-	-	-	-	-	-
Other Unusual Items	-	-	-1.31	-	-	-	-1.86	-0.03	-	-0.18	-1.95	-0.04	-0.05	-0.03	-2.24	-	-0.09	-0.06	-4.44	-
Pretax Income	3.37	-3.43	4.42	5.67	3.58	-1.54	0.74	3.5	13.78	10.01	5.51	6.66	9.99	13.92	0.26	1.38	4.04	6.92	-4.82	1.32
Income Tax Expense	1.03	-0.75	-10.74	2.68	1.47	-0.71	0.04	1.38	4.88	2.8	2.86	1.24	2.03	4.56	0.74	1.33	1.34	2.28	-0.17	0.53
Net Income	2.34	-2.69	15.16	2.99	2.11	-0.83	0.7	2.11	8.9	7.21	2.65	5.42	7.96	9.36	-0.49	0.05	2.71	4.64	-4.65	0.78
Net Income to Common	2.34	-2.69	15.16	2.99	2.11	-0.83	0.7	2.11	8.9	7.21	2.65	5.42	7.96	9.36	-0.49	0.05	2.71	4.64	-4.65	0.78
Net Income Growth (YoY)	11.06%	-	2069.39%	41.62%	-76.34%	-	-73.60%	-61.02%	11.82%	-22.93%	-	11678.26%	194.02%	101.72%	-	-94.13%	-28.86%	-	-	-
Shares Outstanding (Basic)	62	61	61	61	61	61	61	60	60	60	60	60	59	59	59	59	59	59	58	45
Shares Outstanding (Diluted)	62	61	63	63	63	61	62	62	62	62	62	62	61	61	59	60	60	60	58	46
Shares Change (YoY)	-0.45%	0.78%	0.87%	1.59%	0.18%	-2.73%	1.05%	0.47%	2.49%	3.10%	4.21%	1.82%	1.76%	1.03%	2.38%	31.20%	31.44%	33.26%	28.44%	2.38%
EPS (Basic)	0.04	-0.04	0.25	0.05	0.03	-0.01	0.01	0.03	0.15	0.12	0.04	0.09	0.13	0.16	-0.01	0.00	0.05	0.08	-0.08	0.02
EPS (Diluted)	0.04	-0.04	0.24	0.05	0.03	-0.01	0.01	0.03	0.14	0.12	0.04	0.09	0.13	0.15	-0.01	0.00	0.05	0.08	-0.08	0.02
EPS Growth (YoY)	26.42%	-	2290.30%	63.37%	-78.57%	-	-75.36%	-66.67%	7.69%	-20.00%	-	11741.97%	183.62%	90.89%	-	-95.63%	-42.70%	-	-	-

Additional Metrics

Fiscal Quarter	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Period Ending	Jun 28, 2026	Mar 29, 2026	Dec 28, 2025	Sep 28, 2025	Jun 29, 2025	Mar 30, 2025	Dec 29, 2024	Sep 29, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 24, 2023	Jun 25, 2023	Mar 26, 2023	Dec 25, 2022	Sep 25, 2022	Jun 26, 2022	Mar 27, 2022	Dec 26, 2021	Sep 26, 2021
Free Cash Flow	-13.06	5.11	-18.34	5.46	-1.66	-16.41	-17.72	6.78	2.3	-3.6	-9.46	-5.63	19.28	6.62	-0.94	-3.59	8.61	-3.37	10.46	5.94
Free Cash Flow Per Share	-0.21	0.08	-0.29	0.09	-0.03	-0.27	-0.28	0.11	0.04	-0.06	-0.15	-0.09	0.32	0.11	-0.02	-0.06	0.14	-0.06	0.18	0.13
Gross Margin	20.43%	20.16%	20.51%	21.48%	20.52%	18.22%	21.13%	20.68%	23.54%	22.51%	21.76%	21.04%	22.82%	22.98%	18.79%	19.39%	20.03%	21.30%	19.88%	21.03%
Operating Margin	2.48%	0.82%	3.17%	3.60%	2.97%	1.14%	2.17%	2.94%	6.76%	5.56%	3.76%	3.96%	6.31%	7.59%	1.27%	2.34%	3.04%	4.97%	1.69%	4.69%
Profit Margin	0.66%	-0.81%	4.79%	0.95%	0.68%	-0.29%	0.27%	0.84%	3.44%	2.97%	1.08%	2.47%	3.68%	4.43%	-0.26%	0.03%	1.47%	2.68%	-2.86%	0.50%
Free Cash Flow Margin	-3.68%	1.54%	-5.80%	1.73%	-0.54%	-5.81%	-6.73%	2.70%	0.89%	-1.49%	-3.87%	-2.57%	8.91%	3.13%	-0.51%	-1.92%	4.67%	-1.95%	6.43%	3.77%
EBITDA	30.64	24.1	30.67	31.03	27.29	19.79	21.46	22.54	32.02	25.76	21.44	19.12	23.08	25.17	11.29	13.06	14	16.83	11.16	15.58
EBITDA Margin	8.64%	7.28%	9.70%	9.82%	8.87%	7.01%	8.15%	8.96%	12.38%	10.62%	8.76%	8.72%	10.67%	11.90%	6.08%	6.99%	7.59%	9.72%	6.86%	9.90%
D&A For EBITDA	21.84	21.4	20.66	19.66	18.14	16.56	15.76	15.15	14.54	12.27	12.23	10.43	9.44	9.12	8.93	8.68	8.4	8.22	8.41	8.2
EBIT	8.8	2.7	10.02	11.37	9.16	3.23	5.71	7.39	17.49	13.49	9.21	8.68	13.64	16.05	2.36	4.38	5.6	8.61	2.75	7.38
EBIT Margin	2.48%	0.82%	3.17%	3.60%	2.97%	1.14%	2.17%	2.94%	6.76%	5.56%	3.76%	3.96%	6.31%	7.59%	1.27%	2.34%	3.04%	4.97%	1.69%	4.69%
Effective Tax Rate	30.55%	-	-	47.29%	41.11%	-	5.29%	39.59%	35.41%	27.95%	51.90%	18.66%	20.34%	32.75%	289.84%	96.66%	33.05%	32.92%	-	40.55%
Revenue as Reported	354.67	330.96	316.35	316.02	307.89	282.24	263.29	251.61	258.56	242.45	244.63	219.21	216.3	211.41	185.75	186.85	184.45	173.11	162.62	157.44

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Aug 4, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Sep 15, 2026

Data Sources Report a data error