Financial Performance - Total revenues increased by 16.4% to $282.2 million in Q1 2025 from $242.4 million in Q1 2024 [7] - System-wide sales rose by 11.5% to $323.0 million in Q1 2025 from $289.6 million in Q1 2024 [7] - Net loss was $(0.8) million, or $(0.01) per diluted share, in Q1 2025 compared to net income of $7.2 million, or $0.12 per diluted share, in Q1 2024 [7][36] - Adjusted EBITDA decreased to $22.8 million in Q1 2025 from $28.6 million in Q1 2024 [7][30] Operational Highlights - Opened 13 new system-wide restaurants across 10 states, resulting in a total of 584 system-wide restaurants [7] - Same-restaurant sales growth was 0.7%, while same-restaurant traffic growth was negative 0.7% [7] - Income from operations margin decreased to 0.4% in Q1 2025 from 5.1% in Q1 2024 [7] Future Outlook - The company updated its guidance for the fiscal year 2025, projecting total revenue growth of approximately 20% [8] - Expected Adjusted EBITDA in the range of $114.0 million to $119.0 million for the fiscal year [8] - Plans to open 59 to 64 new system-wide restaurants, net of closures, with capital expenditures estimated between $150.0 million and $160.0 million [8]

Core Viewpoint - First Watch Restaurant Group, Inc. has completed the acquisition of 16 franchise-owned restaurants in North Carolina and South Carolina for $49 million, marking the second largest franchisee deal in its history and emphasizing its long-term growth strategy [1][2]. Acquisition Details - The acquisition includes 16 locations in the Charlotte and Concord DMAs in North Carolina, and the Columbia and Greenville DMAs in South Carolina [2]. - This deal is part of First Watch's strategy to solidify corporate ownership along the East Coast and to provide additional territories for organic growth [2]. - Since May 2023, First Watch has acquired a total of 64 franchised restaurants across eight acquisitions [3]. Company Overview - First Watch is recognized for its Daytime Dining concept, serving made-to-order breakfast, brunch, and lunch with fresh ingredients [4]. - The company operates over 570 restaurants across 30 states and has received numerous accolades, including being named the 1 Most Loved Workplace in America for 2024 [4].

Core Insights - First Watch Restaurant Group, Inc. is expanding its presence in New England with the opening of its first downtown Boston location at 777 Boylston St. in late 2025, following its earlier entry into Massachusetts with a location in Hanover [1][8] - The new restaurant will feature a chef-driven menu that emphasizes fresh, high-quality ingredients and a commitment to socially responsible sourcing, including coffee from women-owned farms [2][3] - The Boston location will create approximately 30 new jobs and uphold a "No Night Shifts Ever" policy to prioritize employee wellbeing [5] Company Overview - First Watch is recognized as a leading daytime dining concept, serving made-to-order breakfast, brunch, and lunch with a rotating seasonal menu [7] - The company has received numerous accolades, including being named the "1 Most Loved Workplace in America" by Newsweek and the Best Practice Institute [7] - First Watch operates over 570 restaurants across 30 states, showcasing a diverse menu that includes breakfast classics and innovative dishes [7]

Core Insights - First Watch Restaurant Group, Inc. plans to release its first quarter 2025 financial results on May 6, 2025, before the market opens [1] - A conference call and webcast will follow the earnings release at 8:00 AM ET, hosted by the CEO and CFO [2] Company Overview - First Watch is a leading Daytime Dining concept specializing in made-to-order breakfast, brunch, and lunch using fresh ingredients [3] - The company has received numerous accolades, including being named 2024's 1 Most Loved Workplace in America and the top restaurant brand in Yelp's inaugural list of the top 50 most-loved brands in the U.S. [3] - First Watch operates over 570 restaurants across 30 states, with a menu that rotates five times a year [3]

Latest Franchisee Deal Underscores Long-term Growth StrategyBRADENTON, Fla., April 14, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ: FWRG) (together with its subsidiaries “First Watch” or the “Company”), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced the acquisition of three of its franchise-owned restaurants and corresponding development rights in Missouri. "We’re proud to welcome the Lee’s Summit, West Columbia and South Columbia restaurant t ...