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First Watch Restaurant (FWRG) Operating Income (2020 - 2025)

First Watch Restaurant has reported Operating Income over the past 6 years, most recently at $9.0 million for Q4 2025.

  • Quarterly results put Operating Income at $9.0 million for Q4 2025, up 134.01% from a year ago — trailing twelve months through Dec 2025 was $27.5 million (down 29.29% YoY), and the annual figure for FY2025 was $27.5 million, down 29.29%.
  • Operating Income for Q4 2025 was $9.0 million at First Watch Restaurant, down from $10.0 million in the prior quarter.
  • Over the last five years, Operating Income for FWRG hit a ceiling of $16.4 million in Q2 2024 and a floor of -$1.1 million in Q4 2021.
  • Median Operating Income over the past 5 years was $7.2 million (2021), compared with a mean of $7.3 million.
  • Biggest five-year swings in Operating Income: soared 363.49% in 2023 and later plummeted 90.94% in 2025.
  • First Watch Restaurant's Operating Income stood at -$1.1 million in 2021, then surged by 238.61% to $1.5 million in 2022, then soared by 363.49% to $6.9 million in 2023, then plummeted by 43.68% to $3.9 million in 2024, then skyrocketed by 134.01% to $9.0 million in 2025.
  • The last three reported values for Operating Income were $9.0 million (Q4 2025), $10.0 million (Q3 2025), and $7.3 million (Q2 2025) per Business Quant data.