First Watch Restaurant Group, Inc. (FWRG) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 330.96M | 316.35M | 316.02M | 307.89M | 282.24M | 263.29M | 251.61M | 258.56M | 242.45M | 244.63M | 219.21M | 216.3M | 211.41M | 185.75M | 186.85M | 184.45M | 173.11M | 162.62M | 157.44M | 153.96M |
| Revenue Growth % | 17.26% | 20.15% | 25.6% | 19.08% | 16.41% | 7.63% | 14.78% | 19.54% | 14.68% | 31.7% | 17.32% | 17.27% | 22.12% | 14.22% | 18.68% | 19.8% | 36.13% | 48.66% | - | - |
| Cost of Goods Sold | 74.31M | 254.41M | 248.15M | 248.21M | 66.65M | 211.97M | 201.97M | 199.51M | 189.45M | 194.25M | 175.13M | 168.19M | 163.87M | 152.69M | 152.11M | 148.6M | 137.23M | 127.72M | 124.84M | 117.63M |
| COGS % of Revenue | 22.45% | 80.42% | 78.52% | 80.62% | 23.61% | 80.51% | 80.27% | 77.16% | 78.14% | 79.4% | 79.89% | 77.76% | 77.51% | 82.2% | 81.4% | 80.56% | 79.27% | 78.54% | 79.29% | 76.4% |
| Gross Profit | 256.65M | 61.94M | 67.87M | 59.68M | 215.59M | 51.32M | 49.63M | 59.05M | 53M | 50.38M | 44.08M | 48.11M | 47.54M | 33.06M | 34.75M | 35.85M | 35.88M | 34.9M | 32.6M | 36.33M |
| Gross Margin % | 77.55% | 19.58% | 21.48% | 19.38% | 76.39% | 19.49% | 19.73% | 22.84% | 21.86% | 20.6% | 20.11% | 22.24% | 22.49% | 17.8% | 18.6% | 19.44% | 20.73% | 21.46% | 20.71% | 23.6% |
| Gross Profit Growth % | 19.04% | 20.71% | 36.75% | 1.07% | 306.76% | 1.85% | 12.6% | 22.74% | 11.49% | 52.42% | 26.87% | 34.2% | 32.49% | -5.27% | 6.59% | -1.32% | 51.28% | 124.76% | - | - |
| Operating Expenses | 255.65M | 52.46M | 57.82M | 52.37M | 214.48M | 47.45M | 43.32M | 42.6M | 40.72M | 43.53M | 36.34M | 36.77M | 32.21M | 31.58M | 32.13M | 30.8M | 28.12M | 35.96M | 25.45M | 24.02M |
| OpEx % of Revenue | 77.25% | 16.58% | 18.3% | 17.01% | 75.99% | 18.02% | 17.22% | 16.48% | 16.79% | 17.79% | 16.58% | 17% | 15.24% | 17% | 17.19% | 16.7% | 16.25% | 22.12% | 16.16% | 15.6% |
| Selling, General & Admin | 39.95M | 31.8M | 36.84M | 33.19M | 30.22M | 30.74M | 27.68M | 27.19M | 27.66M | 29.95M | 25.18M | 25.28M | 22.7M | 21.77M | 21.69M | 21.94M | 19.56M | 26.03M | 17.02M | 15.39M |
| SG&A % of Revenue | 12.07% | 10.05% | 11.66% | 10.78% | 10.71% | 11.68% | 11% | 10.52% | 11.41% | 12.24% | 11.49% | 11.69% | 10.74% | 11.72% | 11.61% | 11.9% | 11.3% | 16.01% | 10.81% | 9.99% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 2.7M | 9.48M | 10.05M | 7.31M | 1.11M | 3.86M | 6.31M | 16.45M | 12.29M | 6.86M | 7.74M | 11.34M | 15.33M | 1.48M | 2.62M | 5.05M | 7.76M | -1.07M | 7.15M | 12.31M |
| Operating Margin % | 0.82% | 3% | 3.18% | 2.38% | 0.39% | 1.47% | 2.51% | 6.36% | 5.07% | 2.8% | 3.53% | 5.24% | 7.25% | 0.8% | 1.4% | 2.74% | 4.48% | -0.66% | 4.54% | 8% |
| Operating Income Growth % | 142.95% | 145.66% | 59.2% | -55.54% | -90.94% | -43.68% | -18.42% | 45% | -19.86% | 363.49% | 195.23% | 124.48% | 97.56% | 238.61% | -63.36% | -58.96% | 101.82% | 77.44% | - | - |
| EBITDA | 24.1M | 30.14M | 29.71M | 25.45M | 17.67M | 19.62M | 21.47M | 30.98M | 24.56M | 19.09M | 18.17M | 20.78M | 24.45M | 10.41M | 11.3M | 13.45M | 15.98M | 7.35M | 15.36M | 20.29M |
| EBITDA Margin % | 7.28% | 9.53% | 9.4% | 8.27% | 6.26% | 7.45% | 8.53% | 11.98% | 10.13% | 7.8% | 8.29% | 9.61% | 11.56% | 5.6% | 6.05% | 7.29% | 9.23% | 4.52% | 9.75% | 13.18% |
| EBITDA Growth % | 36.39% | 53.66% | 38.41% | -17.86% | -28.04% | 2.78% | 18.13% | 49.07% | 0.45% | 83.4% | 60.81% | 54.49% | 52.96% | 41.65% | -26.41% | -33.69% | 37.42% | 135.56% | - | - |
| D&A (Non-Cash Add-back) | 21.4M | 20.66M | 19.66M | 18.14M | 16.56M | 15.76M | 15.15M | 14.54M | 12.27M | 12.23M | 10.43M | 9.44M | 9.12M | 8.93M | 8.68M | 8.4M | 8.22M | 8.41M | 8.2M | 7.98M |
| EBIT | 2.7M | 9.21M | 10.24M | 7.58M | -4.87M | 3.96M | 6.94M | 17.16M | 12.61M | 7.78M | 8.51M | 12.03M | 15.82M | 1.99M | 2.74M | 5.17M | 7.92M | -3.38M | 7.37M | 12.38M |
| Net Interest Income | -4.78M | -4.79M | -4.57M | -4M | -3.33M | -3.22M | -3.44M | -3.38M | -2.6M | -2.27M | -1.85M | -2.04M | -1.91M | -1.74M | -1.36M | -1.13M | -1.01M | -1.44M | -6.05M | -6.29M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 4.78M | 4.79M | 4.57M | 4M | 3.33M | 3.22M | 3.44M | 3.38M | 2.6M | 2.27M | 1.85M | 2.04M | 1.91M | 1.74M | 1.36M | 1.13M | 1.01M | 1.44M | 6.05M | 6.29M |
| Other Income/Expense | -4.43M | -5.07M | -4.38M | -3.74M | -2.65M | -3.12M | -2.82M | -2.67M | -2.27M | -1.35M | -1.08M | -1.35M | -1.41M | -1.22M | -1.25M | -1.01M | -843K | -3.75M | -5.84M | -6.22M |
| Pretax Income | -3.43M | 4.42M | 5.67M | 3.58M | -1.54M | 738K | 3.5M | 13.78M | 10.01M | 5.5M | 6.66M | 9.99M | 13.92M | 256K | 1.38M | 4.04M | 6.92M | -4.82M | 1.32M | 6.09M |
| Pretax Margin % | -1.04% | 1.4% | 1.8% | 1.16% | -0.54% | 0.28% | 1.39% | 5.33% | 4.13% | 2.25% | 3.04% | 4.62% | 6.58% | 0.14% | 0.74% | 2.19% | 4% | -2.96% | 0.84% | 3.96% |
| Income Tax | -749K | -10.74M | 2.68M | 1.47M | 708K | 39K | 1.38M | 4.88M | 2.8M | 2.86M | 1.24M | 2.03M | 4.56M | 742K | 1.33M | 1.34M | 2.28M | -167K | 534K | 2.29M |
| Effective Tax Rate % | 21.81% | -243.08% | 47.29% | 41.11% | -46.06% | 5.28% | 39.59% | 35.41% | 27.95% | 51.9% | 18.66% | 20.34% | 32.75% | 289.84% | 96.65% | 33.04% | 32.92% | 3.46% | 40.55% | 37.52% |
| Net Income | -2.69M | 15.16M | 2.99M | 2.11M | -2.25M | 699K | 2.11M | 8.9M | 7.21M | 2.65M | 5.42M | 7.96M | 9.36M | -486K | 46K | 2.71M | 4.64M | -4.65M | 783K | 3.81M |
| Net Margin % | -0.81% | 4.79% | 0.95% | 0.68% | -0.8% | 0.27% | 0.84% | 3.44% | 2.98% | 1.08% | 2.47% | 3.68% | 4.43% | -0.26% | 0.02% | 1.47% | 2.68% | -2.86% | 0.5% | 2.47% |
| Net Income Growth % | -19.6% | 2069.38% | 41.62% | -76.34% | -131.12% | -73.6% | -61.02% | 11.82% | -22.93% | 644.86% | 11678.26% | 194.02% | 101.72% | 89.56% | -94.13% | -28.86% | 327.23% | 34.63% | - | - |
| Net Income (Continuing) | -2.69M | 15.16M | 2.99M | 2.11M | -2.25M | 699K | 2.11M | 8.9M | 7.21M | 2.65M | 5.42M | 7.96M | 9.36M | -486K | 46K | 2.71M | 4.64M | -4.65M | 783K | 3.81M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -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 | 0.01 | 0.07 |
| EPS Growth % | -222.06% | 2300% | 58.67% | -76% | -111.33% | -76.64% | -66.67% | 7.69% | -20% | - | - | 160% | 87.5% | 89.75% | -94.12% | -24.24% | 325.99% | 57.89% | - | - |
| EPS (Basic) | -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 | 0.01 | 0.07 |
| Diluted Shares Outstanding | 61.24M | 62.84M | 62.83M | 62.58M | 60.77M | 62.34M | 61.85M | 62.46M | 62.48M | 61.83M | 61.56M | 60.94M | 60.6M | 59.19M | 60.46M | 59.89M | 59.98M | 57.81M | 57.63M | 57.63M |
| Basic Shares Outstanding | 61.24M | 60.96M | 61.03M | 61.01M | 60.77M | 60.64M | 60.43M | 60.38M | 60.01M | 59.77M | 59.65M | 59.39M | 59.24M | 59.19M | 59.09M | 59.06M | 59.05M | 57.81M | 57.63M | 57.63M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |