← Research LibraryThe BriefFY2025 10-K · headline figures audited against SEC data
First Watch Restaurant Group, Inc.: Revenue grew 20.3% to $1.223B from $1.016B. Net income grew 2.7% to $19.43M from $18.93M. Free cash flow outflow widened to $30.99M from $12.24M. Operating margin contracted 158 bps to 2.25%. First Watch Restaurant Group, Inc.'s annual comparison also shows free cash flow declined despite revenue growth; stock compensation grew faster than revenue; capital spending grew faster than revenue; the balance-sheet screen falls in the distress range and requires business-model context.
The read at a glance✓ Audited against SEC data
- Growth — Revenue grew 20.3% to $1.223B from $1.016BOK
- Profitability — Net income grew 2.7% to $19.43M from $18.93MOK
- Cash flow — Free cash flow outflow widened to $30.99M from $12.24MWatch
- Margins — Operating margin contracted 158 bps to 2.25%Watch
- Accounting — Distress-range screen needs contextWatch
- Insiders — 0 purchases and 19 salesWatch
Business
When it comes to sourcing our produce, we are guided by a core philosophy: “Follow the Sun.” We believe our highly anticipated seasonal menus drive customer frequency, as we welcome each season with exceptional ingredients harvested when they are most flavorful and fresh.
Where the revenue comes from
Fiscal 2025, as First Watch Restaurant Group, Inc. reports it. History and quarterly detail are in the app.
- Restaurant sales$1.2B
- Franchise revenues$10.3M
Leadership changes
From First Watch Restaurant Group, Inc.'s own filings, the day they're filed.
- Ashlee Weisser · Chief Financial Officer · appointmenteff. 2026-06-08
- Rachel Tipograph · director · appointmenteff. 2025-12-29
- Michael Fleisher · Director · appointmenteff. 2024-11-01
Latest filings
- 8-K · Company announcement2026-08-04
- 10-Q · Quarterly report2026-08-04
- 8-K · Company announcement2026-08-04
- 8-K · Company announcement2026-06-08
- 8-K · Company announcement2026-05-21
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about First Watch Restaurant Group, Inc., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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