First Watch Restaurant (US:FWRG)2025-05-06 11:18Financial Performance - Total revenues increased by 164% to $28224 million in Q1 2025 from $242449 million in Q1 2024[23] - System-wide sales increased 115% to $3230 million in Q1 2025 from $289581 million in Q1 2024[23] - Same-restaurant sales growth was 07%[23] - Restaurant level operating profit margin decreased to 165% in Q1 2025 from 208% in Q1 2024[23] - Adjusted EBITDA decreased to $22753 million in Q1 2025 from $28590 million in Q1 2024[23] - Net loss was $(08) million in Q1 2025, compared to a net income of $7214 million in Q1 2024[23] Expansion and Outlook - The company opened 13 system-wide restaurants and closed 1, resulting in 584 system-wide restaurants across 30 states[23] - The company projects total revenue growth of approximately 200% for fiscal year 2025[51] - The company anticipates opening 59 to 64 new system-wide restaurants, net of 3 company-owned closures[51] - Adjusted EBITDA is projected to be in the range of $1140 million to $1190 million[51]