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flag First Watch reports Q1 loss despite revenue surge and new restaurant openings.

flag First Watch Restaurant Group reported a first-quarter net loss of $0.8 million, or $0.01 per share, a significant drop from a net income of $0.12 per share last year. flag Despite a 16.4% revenue increase to $282.2 million, the company's shares fell 23.97% to $14.15 on the earnings release. flag First Watch opened 13 new restaurants, bringing the total to 584 across 30 states. flag For 2025, the company forecasts Adjusted EBITDA between $114.0 million and $119.0 million and expects a 20% revenue growth.

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