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

First Watch Restaurant's Operating Expenses history runs 7 years deep, the most recent figure standing at $330.0 million for Q1 2026.

• In Q1 2026, Operating Expenses rose 17.37% year-over-year to $330.0 million; the TTM figure through Mar 2026 stood at $1.2 billion (up 21.0% YoY), while the FY2025 annual figure was $1.2 billion, up 22.31% from the prior year.
• Operating Expenses was $330.0 million for Q1 2026 at First Watch Restaurant, up from $307.3 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $330.0 million in Q1 2026 to a low of $165.4 million in Q1 2022.
• Historically, Operating Expenses has averaged $239.1 million across 5 years, with a median of $237.8 million in 2023.
• The sharpest annual moves came in 2022 and 2024: Operating Expenses jumped 34.08% in 2022, then advanced 9.11% in 2024.
• A 5-year view of Operating Expenses shows it stood at $184.3 million in 2022, then advanced by 29.04% to $237.8 million in 2023, then climbed by 9.11% to $259.4 million in 2024, then advanced by 18.46% to $307.3 million in 2025, then rose 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.