First Watch Restaurant (FWRG) Gross Margin (2020 - 2026)

First Watch Restaurant's Gross Margin history runs 7 years deep, the most recent figure standing at 84.32% for Q1 2026.

• On a quarterly basis, Gross Margin fell 748.0% year-over-year to 84.32% in Q1 2026; TTM through Mar 2026 was 77.54%, a 266.0% decrease from a year earlier, with the FY2025 full-year figure at 77.09%, down 795.0% from the prior year.
• Gross Margin rose to 84.32% in Q1 2026 per FWRG's latest filing, from 56.03% in the prior quarter.
• Across five years, Gross Margin topped out at 130.51% in Q4 2023 and bottomed at 56.03% in Q4 2025.
• The 5-year median for Gross Margin is 84.54% (2022), against an average of 85.07%.
• Across the five-year window, Gross Margin surged 4597 bps in 2023 and sank 6516 bps in 2024, its largest moves.
• Year by year, Gross Margin stood at 84.54% in 2022, then surged by 54 bps to 130.51% in 2023, then sank by 50 bps to 65.35% in 2024, then fell by 14 bps to 56.03% in 2025, then surged by 50 bps to 84.32% in 2026.
• Per Business Quant, the three latest FWRG Gross Margin figures stand at 84.32% (Q1 2026), 56.03% (Q4 2025), and 77.94% (Q3 2025).