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First Watch Restaurant Group, Inc. (FWRG) is a consumer-oriented services company in the quick-service dining establishments industry, based in Bradenton, United States, with about 18,000 full-time employees.
It reported revenue of $1.02 billion for fiscal year 2024, up 13.9% from fiscal year 2023, and net income of $18.93 million. In Q3 2025 (the quarter ended September 30, 2025) revenue was $316.02 million, up 25.6% from a year before. Its market capitalization was $677.60 million as of October 9, 2026.
Figures from company filings and market data; latest fiscal year ended December 31, 2024; market data as of October 9, 2026.
, through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. The company was formerly known as AI Fresh Super Holdco, Inc. and changed its name to First Watch Restaurant Group, Inc. in December 2019. First Watch Restaurant Group, Inc. was founded in 1983 and is based in Bradenton, Florida.
First Watch Restaurant reported $1.02 billion in revenue for fiscal year 2024, up 13.9% from $891.55 million in fiscal year 2023. In Q3 2025 revenue was $316.02 million.
$677.60 million as of October 9, 2026.
Listed companies of a similar size in the same industry (quick-service dining establishments) include Wingstop Inc. (WING), Shake Shack Inc. (SHAK), Sweetgreen, Inc. (SG), El Pollo Loco Holdings, Inc. (LOCO).