First Watch Restaurant (FWRG) Operating Expenses (2020 - 2026)

First Watch Restaurant has reported Operating Expenses for 7 years, with the latest figure at $330.0 million in Q1 2026.

• For the quarter ending Q1 2026, Operating Expenses rose 17.37% year-over-year to $330.0 million; the trailing twelve-month figure through Mar 2026 stood at $1.2 billion (up 21.0% YoY), and the FY2025 full-year result was $1.2 billion, up 22.31% from the prior year.
• Operating Expenses for Q1 2026 stood at $330.0 million, up from $307.3 million in the prior quarter.
• The five-year high for Operating Expenses was $330.0 million in Q1 2026, with the low at $165.4 million in Q1 2022.
• Average Operating Expenses over 5 years is $239.1 million, with a median of $237.8 million recorded in 2023.
• Year-over-year, Operating Expenses soared 34.08% in 2022 and grew 9.11% in 2024.
• Tracing FWRG's Operating Expenses over 5 years: stood at $184.3 million in 2022, then climbed by 29.04% to $237.8 million in 2023, then grew by 9.11% to $259.4 million in 2024, then climbed by 18.46% to $307.3 million in 2025, then gained by 7.37% to $330.0 million in 2026.
• The last three Operating Expenses figures came in at $330.0 million (Q1 2026), $307.3 million (Q4 2025), and $306.0 million (Q3 2025), per Business Quant data.

Peer Comparison