Core Insights - First Watch Restaurant Group, Inc. is participating in three investor conferences in March 2026, including a fireside chat that will be webcast live [1][3] Company Overview - First Watch is a leading Daytime Dining concept specializing in made-to-order breakfast, brunch, and lunch using fresh ingredients [2] - The company follows a "Follow the Sun" culinary philosophy, rotating its chef-driven menu multiple times a year to highlight seasonal flavors [2] - First Watch has raised approximately $2.0 million through donations from kids' meals to support community organizations [2] - The company has received numerous awards, including being voted 1 Best Breakfast by Newsweek's Readers' Choice Awards 2025 and recognized as the 1 Most Loved Workplace in America for 2024 and 2025 [2] - First Watch operates over 630 restaurants across 32 states, focusing on quality, hospitality, and community [2] Upcoming Events - The company will meet with institutional investors at the 47th Annual Raymond James Institutional Investors Conference on March 3, 2026, in Orlando, Florida [3] - First Watch will also participate in the Citi 2026 Global Consumer & Retail Conference on March 9, 2026, in Aventura, Florida [3] - Additionally, the company will attend the Bank of America Consumer & Retail Conference on March 10, 2026, in Miami, Florida [3]

Core Insights - First Watch Restaurant Group reported a fourth-quarter revenue of $316.4 million, reflecting a year-over-year increase of 20.2%, with same-restaurant sales up 3.1% despite a 1.9% decline in same-restaurant traffic [1][5][6] - The company achieved a full-year restaurant-level operating profit margin of 18.5%, aligning with its long-term targets, despite facing a challenging traffic environment in the casual dining sector [2][6] - Fiscal 2025 was highlighted as a significant year with total revenue growth exceeding 20% and a record 64 new restaurant openings, marking the highest in the company's history [3][4][6] Financial Performance - Fourth-quarter adjusted EBITDA rose by 38.7% to $33.7 million, with an adjusted EBITDA margin increasing to 10.6% from 9.2% in the previous year [5][9] - Net income for the quarter was reported at $15.2 million, resulting in a net income margin of 4.8% [9] - Food and beverage expenses accounted for 22.9% of sales, slightly up from 22.7% a year ago, while labor and related expenses improved to 33.5% of sales from 33.7% [7][8] Growth Strategy - The company plans to open 59 to 63 new restaurants in 2026, including 53 to 55 company-owned and 9 to 11 franchise-owned locations, while also anticipating three closures [16][17] - A new core menu was rolled out, marking the first significant redesign in nearly a decade, aimed at enhancing customer experience and operational efficiency [12] - A digital marketing initiative launched in 2025 showed positive returns, with plans for broader rollout in 2026 [13][14] Leadership and Transition - CFO Mel Hope announced plans to retire later in 2026, with an executive search for a successor commencing immediately [20] - The company is enhancing equity-based compensation for senior leadership to improve alignment with shareholders and retention [20][21] 2026 Outlook - Guidance for 2026 includes same-restaurant sales growth of 1% to 3% and total revenue growth of 12% to 14%, with an expected commodity inflation of 1% to 3% [16][18] - The company will not implement an initial price increase at the start of 2026, with pricing adjustments evaluated mid-year based on inflation and brand considerations [16]

Core Insights - First Watch Restaurant Group, Inc. reported significant financial growth in 2025, with total revenues increasing by over 20% and same-restaurant sales growth of 3.6% [2][7]. Financial Highlights for Q4 2025 Compared to Q4 2024 - Total revenues rose by 20.2% to $316.4 million from $263.3 million - System-wide sales increased by 16.1% to $353.1 million from $304.1 million - Same-restaurant sales growth was 3.1%, while same-restaurant traffic declined by 1.9% - Income from operations increased to $9.0 million from $3.9 million, with an income from operations margin of 2.9% compared to 1.5% - Net income surged to $15.2 million from $0.7 million, with Adjusted EBITDA rising to $33.7 million from $24.3 million [8][39]. Financial Highlights for 2025 Compared to 2024 - Total revenues increased by 20.3% to $1.2 billion from $1.0 billion - System-wide sales grew to $1.4 billion from $1.2 billion - Same-restaurant sales growth was 3.6%, with same-restaurant traffic growth of 0.5% - Income from operations decreased to $27.5 million from $38.9 million, with an income from operations margin of 2.3% compared to 3.9% - Net income rose to $19.4 million from $18.9 million, and Adjusted EBITDA increased to $120.9 million from $113.8 million - The company opened 64 system-wide restaurants across 23 states, bringing the total to 633 [7][8]. Outlook for Fiscal Year 2026 - The company anticipates total revenues to increase by 12%-14%, with Adjusted EBITDA projected between $132 million to $140 million - Plans to open 59 to 63 new system-wide restaurants, including 3 closures, with capital expenditures estimated between $150 million to $160 million [14][9]. Long-term Financial Targets - The company aims for more than 2,200 restaurants across the United States, indicating a strong growth trajectory [9].

CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES Q4 2025 SUPPLEMENTAL INFORMATION February 24, 2026 FORWARD LOOKING STATEMENTS In addition to historical information, this presentation may contain a number of "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995, which are subject to known and unknown risks, uncertainties and other important factors that may cause actual results to be materially different from the statements made herein. ...

Core Viewpoint - First Watch Restaurant Group, Inc. announces the retirement of Chief Financial Officer Mel Hope, who will assist in the transition to his successor, ensuring continuity in financial leadership [1][2][3] Company Leadership Transition - Mel Hope has been with First Watch since 2018 and has played a crucial role in guiding the company through its IPO and various growth phases [2] - The company is actively seeking both internal and external candidates for the CFO position, with Hope expected to remain until a successor is appointed [1][2] Company Overview - First Watch is recognized as a leading Daytime Dining concept, specializing in made-to-order breakfast, brunch, and lunch using fresh ingredients [3] - The company operates over 630 restaurants across 32 states and has received multiple awards, including 1 Best Breakfast by Newsweek's Readers' Choice Awards 2025 [3] - First Watch has a commitment to community impact, having raised approximately $2.0 million through donations linked to children's meals served [3]

Core Insights - First Watch Restaurant Group, Inc. reported significant financial growth in 2025, with total revenues increasing by over 20% compared to 2024, driven by a same-restaurant sales growth of 3.6% and a new restaurant growth of nearly 11% [2][7] Financial Highlights for Q4 2025 Compared to Q4 2024 - Total revenues increased by 20.2% to $316.4 million from $263.3 million - System-wide sales rose by 16.1% to $353.1 million from $304.1 million - Same-restaurant sales growth was 3.1%, while same-restaurant traffic decreased by 1.9% - Income from operations increased to $9.0 million from $3.9 million, with an income from operations margin of 2.9% compared to 1.5% - Net income surged to $15.2 million from $0.7 million, with Adjusted EBITDA rising to $33.7 million from $24.3 million [8][40] Financial Highlights for Fiscal Year 2025 Compared to 2024 - Total revenues increased by 20.3% to $1.2 billion from $1.0 billion - System-wide sales grew to $1.4 billion from $1.2 billion - Same-restaurant sales growth was 3.6%, with same-restaurant traffic growth of 0.5% - Income from operations decreased to $27.5 million from $38.9 million, with an income from operations margin of 2.3% compared to 3.9% - Net income rose to $19.4 million from $18.9 million, and Adjusted EBITDA increased to $120.9 million from $113.8 million - A total of 64 system-wide restaurants were opened across 23 states, bringing the total to 633 restaurants [7][8][39] Outlook for Fiscal Year 2026 - The company anticipates total revenues to increase by 20.3% to $1.2 billion, with system-wide sales projected to rise by 16.1% to $1.4 billion - Expected net income is $19.4 million, with Adjusted EBITDA forecasted at $120.9 million - The company plans to open 59 to 63 new system-wide restaurants, excluding closures, with capital expenditures estimated between $150 million and $160 million [7][14]

Core Viewpoint - First Watch Restaurant Group, Inc. is set to release its fourth quarter and fiscal year 2025 financial results on February 24, 2026, before market opening [1]. Group 1: Financial Results Announcement - The financial results will be announced prior to market opening on February 24, 2026 [1]. - A conference call and webcast will follow the announcement at 8:00 AM ET, hosted by the CEO and CFO [2]. Group 2: Company Overview - First Watch is recognized as the leading Daytime Dining concept, specializing in made-to-order breakfast, brunch, and lunch using fresh ingredients [3]. - The company operates over 630 restaurants across 32 states, emphasizing quality, hospitality, and community engagement [3]. - First Watch has received numerous awards, including being voted 1 Best Breakfast by Newsweek's Readers' Choice Awards in 2025 and recognized as the 1 Most Loved Workplace in America for 2024 and 2025 [3].

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].