Company: FWRG
Filing Date: 2025-04-08
Form Type: ARS
Source: 0001789940-25-000033
Chunk: 92

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-04-08
Form: ARS
Chunk 92
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 7,494 Derivative assets, current 20 457 Other current assets 2,184 2,365 Total current assets 55,876 71,190 Goodwill 398,565 359,883 Intangible assets, net 167,596 151,186 Operating lease right-of-use assets 527,674 420,001 Property, fixtures and equipment, net of accumulated depreciation of $229,227 and $181,481, respectively 361,394 263,082 Other long-term assets 3,251 1,703 Total assets $ 1,514,356 $ 1,267,045 Liabilities and Equity Current liabilities: Accounts payable $ 6,961 $ 6,324 Accrued liabilities 39,607 35,630 Accrued compensation and deferred payroll taxes 21,244 21,711 Deferred revenues 5,623 5,499 Current portion of operating lease liabilities 55,704 40,281 Current portion of long-term debt 9,228 5,628 Interest rate swap liabilities, current 105 — Total current liabilities 138,472 115,073 Operating lease liabilities 555,576 441,290 Long-term debt, net 189,043 119,767 Deferred income taxes 32,218 25,331 Derivative liabilities 503 1,346 Other long-term liabilities 3,155 2,954 Total liabilities 918,967 705,761 Commitments and contingencies (Note 18) Equity: Preferred stock; $0.01 par value; 10,000,000 shares authorized; none issued and outstanding — — Common stock; $0.01 par value; 300,000,000 shares authorized; 60,700,090 and 59,891,705 shares issued and outstanding at December 29, 2024 and December 31, 2023, respectively 607 599 Additional paid-in capital 649,045 634,099 Accumulated deficit (53,822) (72,747) Accumulated other comprehensive loss (441) (667) Total equity 595,389 561,284 Total liabilities and equity $ 1,514,356 $ 1,267,045 The accompanying notes are an integral part of these consolidated financial statements. 59

FIRST WATCH RESTAURANT GROUP, INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (IN THOUSANDS,