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First Watch Restaurant (FWRG) Cost of Revenue (2020 - 2025)

First Watch Restaurant (FWRG) has 6 years of Cost of Revenue data on record, last reported at $119.5 million in Q4 2025.

  • For Q4 2025, Cost of Revenue fell 26.4% year-over-year to $119.5 million; the TTM value through Dec 2025 reached $280.1 million, down 9.42%, while the annual FY2025 figure was $280.1 million, 25.55% up from the prior year.
  • Cost of Revenue reached $119.5 million in Q4 2025 per FWRG's latest filing, up from $69.7 million in the prior quarter.
  • Across five years, Cost of Revenue topped out at $162.4 million in Q4 2024 and bottomed at -$69.3 million in Q4 2022.
  • Average Cost of Revenue over 5 years is $36.3 million, with a median of $35.5 million recorded in 2023.
  • The widest YoY moves for Cost of Revenue: up 358109.09% in 2022, down 371.7% in 2022.
  • A 5-year view of Cost of Revenue shows it stood at $25.5 million in 2021, then plummeted by 371.7% to -$69.3 million in 2022, then soared by 36.22% to -$44.2 million in 2023, then skyrocketed by 467.45% to $162.4 million in 2024, then decreased by 26.4% to $119.5 million in 2025.
  • Per Business Quant database, its latest 3 readings for Cost of Revenue were $119.5 million in Q4 2025, $69.7 million in Q3 2025, and $24.2 million in Q2 2025.