Growth Metrics

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

First Watch Restaurant has reported Cost of Revenue over the past 7 years, most recently at $74.3 million for Q1 2026.

  • For Q1 2026, Cost of Revenue rose 67.9% year-over-year to $74.3 million; the TTM value through Mar 2026 reached $64.6 million, down 55.46%, while the annual FY2025 figure was $100.8 million, 54.82% down from the prior year.
  • Cost of Revenue for Q1 2026 was $74.3 million at First Watch Restaurant, up from -$107.6 million in the prior quarter.
  • Over five years, Cost of Revenue peaked at $74.3 million in Q1 2026 and troughed at -$107.6 million in Q4 2025.
  • A 5-year average of $24.6 million and a median of $31.7 million in 2023 define the central range for Cost of Revenue.
  • Biggest five-year swings in Cost of Revenue: surged 11876.98% in 2022 and later tumbled 281.56% in 2025.
  • Year by year, Cost of Revenue stood at -$14.7 million in 2022, then soared by 350.65% to $36.9 million in 2023, then skyrocketed by 60.53% to $59.2 million in 2024, then tumbled by 281.56% to -$107.6 million in 2025, then soared by 169.08% to $74.3 million in 2026.
  • Business Quant data shows Cost of Revenue for FWRG at $74.3 million in Q1 2026, -$107.6 million in Q4 2025, and $25.9 million in Q3 2025.