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

First Watch Restaurant's Cost of Revenue history runs 7 years deep, the most recent figure standing at $51.9 million for Q1 2026.

• On a quarterly basis, Cost of Revenue rose 124.22% year-over-year to $51.9 million in Q1 2026; TTM through Mar 2026 was $285.5 million, a 36.57% increase from a year earlier, with the FY2025 full-year figure at $280.1 million, up 84.31% from the prior year.
• Cost of Revenue slipped to $51.9 million in Q1 2026 per FWRG's latest filing, from $139.1 million in the prior quarter.
• Across five years, Cost of Revenue topped out at $139.1 million in Q4 2025 and bottomed at -$74.6 million in Q4 2023.
• The 5-year median for Cost of Revenue is $36.8 million (2024), against an average of $38.2 million.
• Across the five-year window, Cost of Revenue surged 358109.09% in 2022 and tumbled 359.89% in 2023, its largest moves.
• Year by year, Cost of Revenue stood at $28.7 million in 2022, then tumbled by 359.89% to -$74.6 million in 2023, then surged by 222.25% to $91.2 million in 2024, then soared by 52.46% to $139.1 million in 2025, then slumped by 62.68% to $51.9 million in 2026.
• Per Business Quant, the three latest FWRG Cost of Revenue figures stand at $51.9 million (Q1 2026), $139.1 million (Q4 2025), and $69.7 million (Q3 2025).