First Watch Restaurant (FWRG) Cost of Revenue (2020 - 2026)

First Watch Restaurant has reported Cost of Revenue for 7 years, with the latest figure at $74.3 million in Q1 2026.

• For the quarter ending Q1 2026, Cost of Revenue rose 67.9% year-over-year to $74.3 million; the trailing twelve-month figure through Mar 2026 stood at $64.6 million (down 55.46% YoY), and the FY2025 full-year result was $100.8 million, down 54.82% from the prior year.
• Cost of Revenue for Q1 2026 stood at $74.3 million, up from -$107.6 million in the prior quarter.
• The five-year high for Cost of Revenue was $74.3 million in Q1 2026, with the low at -$107.6 million in Q4 2025.
• Average Cost of Revenue over 5 years is $24.6 million, with a median of $31.7 million recorded in 2023.
• Year-over-year, Cost of Revenue jumped 11876.98% in 2022 and plunged 281.56% in 2025.
• Tracing FWRG's Cost of Revenue over 5 years: stood at -$14.7 million in 2022, then surged by 350.65% to $36.9 million in 2023, then soared by 60.53% to $59.2 million in 2024, then sank by 281.56% to -$107.6 million in 2025, then surged by 169.08% to $74.3 million in 2026.
• The last three Cost of Revenue figures came in at $74.3 million (Q1 2026), -$107.6 million (Q4 2025), and $25.9 million (Q3 2025), per Business Quant data.

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