Company: FWRG
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001789940-25-000072
Chunk: 60

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 2
Chunk 60
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 level operating profit, included in the section Non-GAAP Financial Measure Reconciliations below. 

Restaurant Level Operating Profit Margin: represents Restaurant level operating profit as a percentage of restaurant sales. See Non-GAAP Financial Measure Reconciliations below for a reconciliation to Income from operations margin, the most directly comparable GAAP measure.

Selected Operating Data

THIRTEEN WEEKS ENDED JUNE 29, 2025 COMPANY-OWNEDFRANCHISE-OWNEDTOTALBeginning of period49886584New restaurant openings15 2 17Acquisitions of franchise-owned restaurants19 (19)0Closures(1)— (1)End of period53169600

21

TWENTY-SIX WEEKS ENDED JUNE 29, 2025 COMPANY-OWNEDFRANCHISE-OWNEDTOTALBeginning of period48983572New restaurant openings25 5 30Acquisitions of franchise-owned restaurants19 (19)—Closures(2)— (2)End of period53169600

THIRTEEN WEEKS ENDEDTWENTY-SIX WEEKS ENDEDJUNE 29, 2025JUNE 30, 2024JUNE 29, 2025JUNE 30, 2024System-wide sales (in thousands)$346,209 $298,978 $669,208 $588,558 Same-restaurant sales growth 3.5 %(0.3)%2.1 %0.1 %Same-restaurant traffic growth 2.0 %(4.0)%0.6 %(4.2)%Income from operations (in thousands)$7,313 $16,447 $8,426 $28,733 Income from operations margin2.4 %6.4 %1.4 %5.8 %Restaurant level operating profit (in thousands) (1)$56,776 $55,946 $102,898 $105,808 Restaurant level operating profit margin (1)18.6 %21.9 %17.6 %21.4 %Net income (in thousands)$2,106 $8,900 $1,277 $16,114 Net income margin0.7 %3.4 %0.2 %3.2 %Adjusted EBITDA (in thousands) (2)$30,379 $35