Company: FWRG
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001789940-25-000010
Chunk: 3

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-03-11
Form: 10-K
Item: Item 8
Chunk 3
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 34,230 Impairments and loss on disposal of assets525 1,359 920 Transaction expenses, net2,587 3,147 2,513 Total operating costs and expenses977,003 850,284 713,249 Income from operations38,907 41,267 16,913 Interest expense(12,640)(8,063)(5,232)Other income, net1,759 2,871 910 Income before income taxes28,026 36,075 12,591 Income tax expense(9,101)(10,690)(5,684)Net income$18,925 $25,385 $6,907 Net income$18,925 $25,385 $6,907 Other comprehensive income (loss):Unrealized gain (loss) on derivatives301 (889)— Income tax related to other comprehensive (loss) income(75)222 — Other comprehensive income (loss)226 (667)— Comprehensive income$19,151 $24,718 $6,907 Net income per common share - basic$0.31 $0.43 $0.12 Net income per common share - diluted$0.30 $0.41 $0.11 Weighted average number of common shares outstanding -  basic60,365,393 59,531,404 59,097,512 Weighted average number of common shares outstanding - diluted62,351,222 61,191,613 60,140,045 

The accompanying notes are an integral part of these consolidated financial statements.

59

FIRST WATCH RESTAURANT GROUP, INC.

CONSOLIDATED STATEMENTS OF EQUITY

(IN THOUSANDS, EXCEPT SHARE AMOUNTS)

Common StockAdditionalPaid-InCapitalAccumulatedDeficitAccumulated Other Comprehensive Income (Loss)Total Equity SharesAmountBalance at December 26, 202159,048,446 $590 $608,878 $(105,039)$— $504,429 Common stock issued under stock-based compensation plans, net162,573 2 1,423 — — 1,425 Net income— — — 6,907 — 6,907 Stock-based compensation— — 10,374 — — 10,374 Balance at December 25,