First Watch Restaurant (FWRG) revenue breakdown
By product, In-restaurant dining sales is the largest at 80% of fiscal 2025 revenue; Third-party delivery sales grew fastest, 94% a year over 6 years.
Revenue by product
Fiscal years, as First Watch Restaurant reports them in its 10-K filings; fiscal 2025 total $1.2B.
| Products | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|
| In-restaurant dining sales | $400M | $257M | $453M | $571M | $717M | $829M | $982M | 80% |
| Third-party delivery sales | $3M | $39M | $70M | $82M | $91M | $97M | $142M | 12% |
| Take-out sales | $26M | $42M | $69M | $66M | $69M | $78M | $88M | 7% |
| Royalty and system fund contributions | $7M | $5M | $9M | $11M | $13M | $11M | $10M | 1% |
| Business combinations - revenues recognized | — | — | — | — | $607,000 | $413,000 | $398,000 | 0% |
| Initial fees | $436,000 | $340,000 | $275,000 | $298,000 | $388,000 | $278,000 | $225,000 | 0% |
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Where does First Watch Restaurant make its money?
In fiscal 2025, by product: In-restaurant dining sales $982M, Third-party delivery sales $142M, Take-out sales $88M, Royalty and system fund contributions $10M, Business combinations - revenues recognized $398,000.
From First Watch Restaurant's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.