Conference call and webcast to be held the same day at 8:00 AM ETBRADENTON, Fla., Feb. 10, 2026 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ: FWRG) (“First Watch” or the “Company”), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced that it plans to release its fourth quarter and fiscal year 2025 financial results on Tuesday, February 24, 2026, before the market opens. A conference call and webcast will follow at 8:00 AM ET, hosted by Chris Tomasso, Chi ...

Financial Data and Key Metrics Changes - The company reported a revenue increase of 65% and EBITDA growth of 75% over the last three years [16] - For the fourth quarter, the company experienced positive same restaurant sales each month, although traffic was under pressure compared to previous quarters [13][14] Business Line Data and Key Metrics Changes - The company has successfully added approximately 250 restaurants since going public, with a focus on disciplined unit expansion [18] - The introduction of alcohol has maintained a consistent sales mix, while the juice program has grown to represent 15% of total sales [39] Market Data and Key Metrics Changes - The company has seen a positive trend in same restaurant sales and traffic, entering 2026 with momentum compared to peers [13] - The company is targeting a total addressable market of 2,200 locations, indicating significant growth potential [49] Company Strategy and Development Direction - The company emphasizes a methodical and thoughtful growth strategy, balancing new unit openings with maintaining positive same-restaurant sales [50] - There is a focus on enhancing marketing capabilities and leveraging customer data to improve engagement and drive traffic [20][28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about entering 2026, citing positive traffic and sales trends despite challenges faced in the previous year [13] - The company is adapting to inflationary pressures by negotiating prices for key commodities and adjusting menu pricing accordingly [41][42] Other Important Information - The company has implemented changes to its third-party delivery strategy, resulting in significant double-digit growth in that category [34] - Labor costs increased by 4% due to minimum wage inflation, but turnover rates have improved, remaining below industry averages [46][48] Q&A Session Summary Question: What were the big wins since going public? - Management highlighted disciplined unit expansion and operational excellence as key factors for growth [16][17] Question: What changes were made to improve traffic in 2025? - The company enhanced its marketing strategy, utilizing data to target customers more effectively [20][21] Question: How is the company addressing cost inflation? - Management noted that inflation on key commodities has moderated, and they are adjusting pricing strategies to defend margins [41][42] Question: What is the long-term growth outlook for the company? - The company maintains a target of 2,200 locations and is focused on a balanced approach to growth [49][50]

Financial Data and Key Metrics Changes - The company reported a revenue increase of 65% and EBITDA growth of 75% over the last three years [15][16] - For the fourth quarter, the company experienced positive same restaurant sales each month, although traffic was under pressure compared to previous quarters [13][14] Business Line Data and Key Metrics Changes - The company has successfully added approximately 250 restaurants since going public, with a focus on disciplined unit expansion [17][15] - The introduction of alcohol has maintained a consistent sales mix, while the juice program has grown to represent 15% of total sales [39][36] Market Data and Key Metrics Changes - The company has seen a positive trend in traffic for the full year, entering 2026 with more momentum than some peers [13] - The company is targeting a total addressable market of 2,200 locations, indicating significant growth potential [49] Company Strategy and Development Direction - The company emphasizes a methodical and thoughtful growth strategy, balancing new unit openings with maintaining positive same-restaurant sales [50][52] - A focus on marketing and customer data analytics has been introduced to enhance customer engagement and drive traffic [19][25] Management's Comments on Operating Environment and Future Outlook - Management acknowledged inflationary pressures on key commodities, with a full-year inflation rate of about 6%, but noted moderation in the second half of the year [41] - The company is optimistic about its growth trajectory, citing a strong track record of performance in various economic climates [66] Other Important Information - The company has implemented changes to its third-party delivery strategy, resulting in significant double-digit growth in that category [33][30] - Labor costs increased by 4% due to regulatory minimum wage inflation, but turnover rates have improved and are below industry averages [46][48] Q&A Session Summary Question: What were the big wins since going public? - Management highlighted disciplined unit expansion and operational excellence as key factors for growth [15][16] Question: How has traffic improved in 2025? - The company enhanced its marketing strategies and utilized customer data to drive traffic effectively [19][20] Question: What is the current ROI target for new restaurants? - The company targets an ROI of 18%-20% for new restaurant projects [56] Question: How does the company approach labor costs and turnover? - Management noted a 4% increase in labor costs but emphasized improved turnover rates due to a positive work environment [46][48] Question: What is the long-term growth potential for the company? - The company maintains a total addressable market of 2,200 locations and is focused on sustainable growth [49]

Financial Data and Key Metrics Changes - The company reported a revenue increase of 65% and EBITDA growth of 75% over the last three years since going public [16] - For the full year, inflation ran about 6%, with early-year inflation on key commodities reaching 8% to 10% [34][35] - The company aims to maintain restaurant-level operating profit margins of 18% to 20% [35] Business Line Data and Key Metrics Changes - The company has added approximately 250 restaurants since going public, with a focus on disciplined unit expansion [18] - Alcohol sales have remained stable as a percentage of sales, while the juice program has grown to represent 15% of the mix [30][32] Market Data and Key Metrics Changes - The company has successfully entered new markets, including Las Vegas, and continues to see positive same-restaurant sales and traffic [18][39] - The company has a total addressable market of 2,200 locations, indicating significant growth potential [39] Company Strategy and Development Direction - The company emphasizes a methodical and thoughtful growth strategy, balancing new unit openings with maintaining positive same-restaurant sales [39] - A focus on marketing and customer data analytics has been introduced to enhance customer engagement and drive traffic [19][20][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about entering 2026 with positive momentum, despite facing some pressure in the fourth quarter [13] - The company has a strong track record of delivering results in various economic climates, which management believes will continue [47] Other Important Information - The company has improved its approach to third-party delivery, resulting in significant double-digit growth in that category [28] - Labor costs increased by 4% last year, but turnover rates have been declining for ten consecutive quarters, indicating a positive work environment [36][37] Q&A Session Summary Question: What were the big wins since going public? - Management highlighted disciplined unit expansion, operational excellence, and strategic franchise acquisitions as key factors for growth [16][17] Question: What changes were made to improve traffic in 2025? - The company implemented a more data-driven marketing strategy, targeting specific customer segments and optimizing messaging [19][20] Question: How has the introduction of alcohol affected sales? - Alcohol sales have remained stable, serving to eliminate veto votes, while the juice program has also contributed positively to sales [30][32] Question: What is the company's long-term growth outlook? - The company maintains a total addressable market of 2,200 locations and aims for a balanced approach to growth [39] Question: How does the company manage inflationary pressures? - The company negotiates prices for key commodities annually and adjusts menu pricing to defend margins [34][35]

Company Overview - First Watch Restaurant Group, Inc. announced preliminary operational results for Q4 and fiscal year ended December 28, 2025[4]. - The company is listed on the Nasdaq Stock Market under the trading symbol FWRG[2]. - The address of the company's principal executive offices is 8725 Pendery Place, Suite 201, Bradenton, FL 34201[2]. Compliance and Reporting - The report was filed on January 12, 2026, indicating the company's compliance with the Securities Exchange Act of 1934[1]. - The company has not elected to use the extended transition period for complying with new financial accounting standards[3]. - The filing does not incorporate any information by reference into other filings under the Securities Act of 1933[5]. - The report was signed by Mel Hope, Chief Financial Officer and Treasurer[11]. Financial Information - The report does not include specific financial metrics or performance indicators in the provided content[4]. - The company is not classified as an emerging growth company under the Exchange Act[3]. Additional Information - The press release detailing the operational results is attached as Exhibit 99.1[4].

Core Insights - First Watch Restaurant Group reported preliminary operational metrics for the fourth quarter and fiscal year ended December 28, 2025, highlighting growth in same-restaurant sales and new restaurant openings [1][2]. Sales and Traffic Highlights - Same-restaurant sales growth for the fourth quarter was +3.1% and +3.6% for the fiscal year 2025 [3]. - Same-restaurant traffic growth was -1.9% in the fourth quarter but improved to +0.5% for the entire fiscal year [3]. Restaurant Development - In the fourth quarter, First Watch opened 13 new restaurants, comprising 12 company-owned and one franchise-owned [4]. - For the fiscal year 2025, the company achieved a total of 64 new restaurant openings (55 company-owned and nine franchise-owned) and recorded three closures, bringing the total to 633 system-wide restaurants by December 28, 2025 [4]. Company Strategy and Outlook - The CEO emphasized confidence in the execution of the long-term strategy and the strength of the pipeline for 2026, with new restaurant classes outperforming expectations [2].

Core Insights - First Watch has opened a new location in Boston's Back Bay, expanding its presence in New England after a successful launch in Hanover in January 2025 [1][12] Company Expansion - The new restaurant on Boylston Street spans 3,100 square feet and accommodates 130 guests, featuring an outdoor patio and a full interior bar [2] - This location includes a custom Boston-inspired mural and signage created by local artist Blind Fox, emphasizing the brand's commitment to local culture [2] Menu and Offerings - First Watch is recognized for its chef-driven breakfast and brunch menu, with all dishes made to order using fresh ingredients, avoiding heat lamps, microwaves, or deep fryers [3] - Popular menu items include Avocado Toast, Lemon Ricotta Pancakes, and the signature Million Dollar Bacon, along with lunch options like the Pesto Chicken Quinoa Bowl [3] Community Engagement - The Boylston team will offer fresh juices made from fruits and vegetables, and promote socially responsible coffee sourced from women farmers in South America [4] - To celebrate the opening, customers dining in from January 7 to January 9 will receive a complimentary cup of Project Sunrise coffee [4] Opening Ceremony - A "first pour" ceremony was held to commemorate the opening, attended by the restaurant's leadership and state representatives, highlighting community engagement efforts [5] Company Philosophy and Recognition - First Watch operates over 620 restaurants across 32 states, guided by a "Follow the Sun" culinary philosophy, rotating its menu five times a year to feature seasonal ingredients [7] - The company has raised over $1.7 million for community causes and has received numerous awards, including being named the 1 Best Breakfast by Newsweek's Readers' Choice Awards in 2025 [7]

Core Viewpoint - First Watch Restaurant Group, Inc. will host a fireside chat at the 28th Annual ICR Conference on January 12, 2026, featuring CEO Chris Tomasso and CFO Mel Hope [1][2]. Company Overview - First Watch is a leading Daytime Dining concept specializing in made-to-order breakfast, brunch, and lunch, utilizing the freshest ingredients [3]. - The company's culinary philosophy, "Follow the Sun," involves a menu that rotates five times a year to highlight seasonal flavors and includes popular items like Lemon Ricotta Pancakes and Million Dollar Bacon [3]. - First Watch has raised over $1.7 million through donations linked to kids' meals served, supporting various community organizations [3]. - The company has received numerous awards, including being voted 2025's 1 Best Breakfast by Newsweek and recognized as the 1 Most Loved Workplace in America for 2024 and 2025 [3]. - First Watch operates more than 620 restaurants across 32 states, focusing on quality, hospitality, and community engagement [3].

Core Thesis - The investment thesis for First Watch (FWRG) is based on its modern, upscale diner concept that positions it as a brunch destination offering healthy food and beverages, differentiating itself from competitors with outdated menus and business models [1] Company Overview - First Watch operates as a brunch-focused restaurant chain that emphasizes health-conscious dining options, appealing to a growing consumer trend towards healthier eating [1] Competitive Landscape - The company competes against traditional diners that have not updated their menus or décor, suggesting a potential market advantage due to its contemporary approach [1]

Core Insights - First Watch Restaurant Group, Inc. has appointed Rachel Tipograph to its Board of Directors, enhancing its leadership team as it aims to scale the brand through digital transformation and customer acquisition strategies [1][2]. Company Overview - First Watch is recognized as a leading Daytime Dining concept, specializing in made-to-order breakfast, brunch, and lunch, with a commitment to using the freshest ingredients [5]. - The company operates over 620 restaurants across 32 states, guided by its "Follow the Sun" culinary philosophy, which features a rotating menu that changes five times a year [5]. - First Watch has received numerous accolades, including being voted 2025's 1 Best Breakfast by Newsweek's Readers' Choice Awards and recognized as the 1 Most Loved Workplace in America for 2024 and 2025 [5]. Leadership and Expertise - Rachel Tipograph brings over 11 years of experience as the founder and CEO of MikMak, a commerce enablement and analytics software company, and previously served as Global Head of Digital and Social Media at Gap, Inc. [3][4]. - The Board of Directors includes members with diverse backgrounds, enhancing the company's strategic direction and operational expertise [4].