Company: FWRG
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001789940-25-000072
Chunk: 31

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 2025JUNE 30, 2024Total revenues$307,887 $258,561 $590,127 $501,010 Less:Food and beverage costs71,978 55,803 138,625 107,987 Labor and other related expenses101,310 83,841 198,064 163,576 Other restaurant operating expenses46,603 37,549 90,862 74,341 Occupancy expenses24,809 20,490 47,958 39,658 Pre-opening expenses3,507 1,828 6,167 3,395 Stock-based compensation, net of amounts capitalized 2,790 2,452 5,049 4,318 General and administrative expenses(1)30,395 24,737 58,355 50,529 Depreciation and amortization18,136 14,536 34,693 26,807 Other segment items(2)1,046 878 1,928 1,666 Interest expense4,003 3,381 7,337 5,980 Other income, net(266)(713)(950)(1,039)Income tax expense1,470 4,879 762 7,678 Net income$2,106 $8,900 $1,277 $16,114 (1) General and administrative expenses excludes stock-based compensation, net of amounts capitalized presented separately.(2) Other segment items included in segment net income are primarily transaction expenses, and impairments and loss on disposal of assets.

15.    Net Income Per Common Share

The following table sets forth the computations of basic and diluted net income per common share:THIRTEEN WEEKS ENDEDTWENTY-SIX WEEKS ENDED(in thousands, except share and per share data)JUNE 29, 2025JUNE 30, 2024JUNE 29, 2025JUNE 30, 2024Numerator:Net income $2,106 $8,900 $1,277 $16,114 Denominator:Weighted average common shares outstanding - basic61,005,648 60,384,696 60,886,525 60,198,743 Weighted average common shares outstanding - diluted62,579,658 62,464,424 62,732,072