First Watch Restaurant (US:FWRG)2025-08-05 12:00Financial Performance - Total revenues increased by 191% to $3079 million compared to $2586 million in Q2 2024[23] - System-wide sales increased by 158% to $3462 million compared to $2990 million in Q2 2024[23] - Same-restaurant sales growth was 35%[23] - Same-restaurant traffic growth was 20%[23] - Restaurant level operating profit margin decreased to 186% compared to 219% in Q2 2024[23] - Net income decreased to $21 million or $003 per diluted share compared to $89 million or $014 per diluted share in Q2 2024[23] - Adjusted EBITDA decreased to $304 million compared to $353 million in Q2 2024[23] Expansion and Outlook - The company opened 17 system-wide restaurants and planned 1 closure resulting in 600 system-wide restaurants across 31 states[23] - The company anticipates total revenue growth of approximately 200% for fiscal year 2025[50] - The company projects Adjusted EBITDA in the range of $1190 million to $1230 million for fiscal year 2025[50]