​

First Watch Restaurant Group (FWRG) Revenue & Revenue Breakdown

OverviewForecastOwnershipFinancialsChartTranscripts

First Watch Restaurant Group Revenue Highlights

Latest Revenue (Y)

$1.02B

Latest Revenue (Q)

$282.24M

Main Segment (Y)

Franchisor Owned Outlet

First Watch Restaurant Group Revenue by Period

First Watch Restaurant Group Revenue by Year

DateRevenueChange
2024-12-29$1.02B13.95%
2023-12-31$891.55M22.10%
2022-12-25$730.16M21.45%
2021-12-26$601.19M75.59%
2020-12-31$342.39M-21.54%
2019-12-31$436.37M24.76%
2018-12-30$349.77M-

First Watch Restaurant Group generated $1.02B in revenue during NA 2024, up 13.95% compared to the previous quarter, and up 232.81% compared to the same period a year ago.

First Watch Restaurant Group Revenue by Quarter

DateRevenueChange
2025-03-30$282.24M7.20%
2024-12-29$263.29M4.64%
2024-09-29$251.61M-2.69%
2024-06-30$258.56M6.65%
2024-03-31$242.45M-0.89%
2023-12-31$244.63M11.60%
2023-09-24$219.21M1.35%
2023-06-25$216.30M2.31%
2023-03-26$211.41M13.82%
2022-12-25$185.75M-0.59%
2022-09-25$186.85M1.30%
2022-06-26$184.45M6.55%
2022-03-27$173.11M6.45%
2021-12-26$162.62M3.29%
2021-09-26$157.44M2.26%
2021-06-30$153.96M21.07%
2021-03-31$127.17M16.25%
2020-12-31$109.39M9.67%
2020-09-30$99.75M49.72%
2020-06-28$66.62M-
2020-03-28$66.62M-

First Watch Restaurant Group generated $282.24M in revenue during Q1 2025, up 7.20% compared to the previous quarter, and up 115.37% compared to the same period a year ago.

First Watch Restaurant Group Revenue Breakdown

First Watch Restaurant Group Revenue Breakdown by Product

Annual Revenue by Product

Product/ServiceDec 24Dec 23Dec 22Dec 21
Franchise$11.55M$14.46M$10.98M$8.85M
Franchisor Owned Outlet$1.00B$877.09M$719.18M$592.34M
In-Restaurant Dining Sales$829.05M$716.96M$571.05M$452.99M
Initial Fees$278.00K$388.00K$298.00K$275.00K
Royalty And System Fund Contributions$10.86M$13.46M$10.68M$8.57M
Take-Out Sales$77.86M$68.70M$66.08M$68.87M
Third-Party Delivery Sales$97.44M$91.43M$82.05M$70.49M

First Watch Restaurant Group's latest annual revenue breakdown by segment (product or service), as of Dec 24: Franchisor Owned Outlet (49.44%), In-Restaurant Dining Sales (40.81%), Third-Party Delivery Sales (4.80%), Take-Out Sales (3.83%), Franchise (0.57%), Royalty And System Fund Contributions (0.53%), and Initial Fees (0.01%).

Quarterly Revenue by Product

Product/ServiceMar 25Dec 24Sep 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Sep 21
Franchisor Owned Outlet$279.59M$516.08M$248.97M$239.31M$241.04M$215.50M$212.59M$207.97M$182.85M$183.98M$181.68M$170.67M$155.08M
Franchise$2.65M$5.77M$2.64M$3.14M$3.59M$3.72M$3.71M$3.44M$2.89M$2.87M$2.77M$2.44M$2.36M
In-Restaurant Dining Sales-$426.80M$207.05M$195.20M$196.68M$176.70M$174.35M$169.23M$145.83M$147.49M$144.84M$132.89M$123.31M
Initial Fees-$119.00K$57.00K$102.00K-$473.00K$158.00K$77.00K$102.00K$67.00K$65.00K$64.00K$59.00K
Royalty And System Fund Contributions-$5.27M$2.59M$3.01M$3.30M$3.24M$3.56M$3.36M$2.79M$2.81M$2.71M$2.38M$2.30M
Take-Out Sales-$40.14M$19.55M$18.17M$18.69M$16.79M$16.80M$16.43M$15.94M$16.38M$17.01M$16.75M$16.54M
Third-Party Delivery Sales-$49.14M$22.37M$25.93M$25.67M$22.01M$21.44M$22.31M$21.09M$20.11M$19.83M$21.03M$15.23M

First Watch Restaurant Group's latest quarterly revenue breakdown by segment (product or service), as of Mar 25: Franchisor Owned Outlet (99.06%), and Franchise (0.94%).

First Watch Restaurant Group Peer Comparison by Revenue

TickerCompanyLast Year RevenueLast Quarter Revenue
DINDine Brands Global$812.31B$204.77M
EATBrinker$4.42B$1.43B
BLMNBloomin' Brands$3.95B$972.02M
CAKECheesecake Factory$3.58B$927.20M
PZZAPapa John's$2.06B$530.77M
BJRIBJ's Restaurants$1.36B$347.97M
FWRGFirst Watch Restaurant Group$1.02B$282.24M
DENNDenny's$452.33M$111.64M

FWRG Revenue FAQ

What is First Watch Restaurant Group’s yearly revenue?

First Watch Restaurant Group's yearly revenue for 2024 was $1.02B, representing an increase of 13.95% compared to 2023. The company's yearly revenue for 2023 was $891.55M, representing an increase of 22.10% compared to 2022. FWRG's yearly revenue for 2022 was $730.16M, representing an increase of 21.45% compared to 2021.

What is First Watch Restaurant Group’s quarterly revenue?

First Watch Restaurant Group's quarterly revenue for Q1 2025 was $282.24M, a 7.20% increase from the previous quarter (Q4 2024), and a 16.41% increase year-over-year (Q1 2024). The company's quarterly revenue for Q4 2024 was $263.29M, a 4.64% increase from the previous quarter (Q3 2024), and a 7.63% increase year-over-year (Q4 2023). FWRG's quarterly revenue for Q3 2024 was $251.61M, a -2.69% decrease from the previous quarter (Q2 2024), and a 14.78% increase year-over-year (Q3 2023).

What is First Watch Restaurant Group’s revenue growth rate?

First Watch Restaurant Group's revenue growth rate for the last 3 years (2022-2024) was 39.13%, and for the last 5 years (2020-2024) was 196.71%.

What are First Watch Restaurant Group’s revenue streams?

First Watch Restaurant Group's revenue streams in c 24 are Franchise, Franchisor Owned Outlet, In-Restaurant Dining Sales, Initial Fees, Royalty And System Fund Contributions, Take-Out Sales, and Third-Party Delivery Sales. Franchise generated $11.56M in revenue, accounting 0.57% of the company's total revenue, down -20.08% year-over-year. Franchisor Owned Outlet generated $1B in revenue, accounting 49.44% of the company's total revenue, up 14.51% year-over-year. In-Restaurant Dining Sales generated $829.05M in revenue, accounting 40.81% of the company's total revenue, up 15.63% year-over-year. Initial Fees generated $278K in revenue, accounting 0.01% of the company's total revenue, down -28.35% year-over-year. Royalty And System Fund Contributions generated $10.86M in revenue, accounting 0.53% of the company's total revenue, down -19.31% year-over-year. Take-Out Sales generated $77.86M in revenue, accounting 3.83% of the company's total revenue, up 13.34% year-over-year. Third-Party Delivery Sales generated $97.44M in revenue, accounting 4.80% of the company's total revenue, up 6.57% year-over-year.

What is First Watch Restaurant Group’s main source of revenue?

For the fiscal year ending Dec 24, the largest source of revenue of First Watch Restaurant Group was Franchisor Owned Outlet. This segment made a revenue of $1B, representing 49.44% of the company's total revenue.