First Watch Restaurant Group, Inc. reported its financial results for the third fiscal quarter ended September 27, 2026. The company announced total revenues of $349.9 million for the thirteen-week period, representing a 10.7% increase compared to the same period in 2025, which totaled $316.0 million.
System-wide sales for the quarter reached $391.2 million, up 10.9% from $352.7 million in the prior year. Same-restaurant sales grew by 1.0%, while same-restaurant traffic decreased by 1.9%. Net income for the quarter was $4.8 million, or $0.08 per diluted share, compared to $3.0 million, or $0.05 per diluted share, in the prior year. Adjusted EBITDA increased to $39.7 million from $34.1 million in the same period of 2025.
During the quarter, the company opened 16 new system-wide restaurants across 11 states, bringing the total number of locations to 681 (comprising 601 company-owned and 80 franchise-owned restaurants) spread across 33 states.
Based on the third-quarter results, First Watch updated its fiscal year 2026 outlook. The company now expects same-restaurant sales growth of approximately 2.0% and total revenue growth of approximately 13.5% for the 52-week fiscal year ending December 27, 2026. The company raised its Adjusted EBITDA guidance to approximately $136.0 million. Additionally, management plans to open 60 net new system-wide restaurants, including 53 new company-owned restaurants and 9 new franchise-owned restaurants, while closing 2 company-owned locations.
