Company: FWRG
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001789940-25-000072
Chunk: 16

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 amounts capitalized5,049 4,318 Non-cash operating lease costs15,779 12,229 Non-cash portion of gain on lease modifications— (5)Non-cash loss on extinguishments and modifications of debt— 358 Deferred income taxes(466)6,600 Amortization of debt discount and deferred issuance costs322 255 Impairments and loss on disposal of assets136 272 Gain on insurance proceeds(47)(3)Changes in assets and liabilities, net of effects of business combinations:Accounts receivable1,751 1,500 Inventory(465)(57)Prepaid expenses(1,319)(969)Other assets, current and long-term(1,130)(641)Accounts payable545 853 Accrued liabilities and other long-term liabilities8,818 3,655 Accrued compensation and deferred payroll taxes(1,412)(4,732)Deferred revenues, current and long-term(2,659)(2,535)Other liabilities— (259)Operating lease liabilities(1,302)(6,867)Net cash provided by operating activities59,570 56,893 Cash flows from investing activities:Capital expenditures(77,683)(58,199)Acquisitions, net of cash acquired(54,833)(77,095)Purchase of intangible assets(380)(64)Insurance proceeds47 3 Net cash used in investing activities(132,849)(135,355)Cash flows from financing activities:Proceeds from borrowings on revolving credit facility127,000 22,500 Repayments of borrowings on revolving credit facility(91,500)(52,500)Proceeds from issuance of long-term debt27,500 197,500 Repayments of long-term debt, including finance lease liabilities(4,159)(94,045)Payment of debt discount and deferred issuance costs— (2,430)Proceeds from exercise of stock options, net of employee taxes paid303 3,213 Contingent consideration payment— (375)Net cash provided by financing activities59,144 73,863 Net decrease in cash and cash equivalents(14,135)(4,599)Cash and cash equivalents:Beginning of period33,312 49,961 End of period$19,177 $45,362 

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

7

FIRST WATCH RESTAURANT GROUP, INC.