Company: FWRG
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001789940-25-000086
Chunk: 32

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 the event any litigation losses become probable and estimable, the Company will recognize anticipated losses.

14.    Segment Information

Management determined the Company’s single operating segment on the basis that the Company’s Chief Operating Decision Maker (the “CODM”), the Chief Executive Officer, assesses performance and allocates resources at the Company’s consolidated level. The Company’s CODM uses consolidated net income to evaluate performance and make key operating decisions, such as investments in our long-term growth strategy. This measure is also used to monitor budget against actual results. Revenue is derived from sales of food and beverage, net of discounts, by Company-owned restaurants as well as franchise royalty, system fund and initial franchise fees. The measure of total assets for the reporting segment is reported on the consolidated balance sheets. The measure of capital expenditures for the reporting segment is reported on the consolidated statements of cash flows. 

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Table of ContentsFIRST WATCH RESTAURANT GROUP, INC.NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (continued)

The following table details consolidated net income for the segment for the periods indicated:THIRTEEN WEEKS ENDEDTHIRTY-NINE WEEKS ENDED(in thousands)SEPTEMBER 28, 2025SEPTEMBER 29, 2024SEPTEMBER 28, 2025SEPTEMBER 29, 2024Total revenues$316,022 $251,609 $906,149 $752,619 Less:Food and beverage costs69,730 55,865 208,355 163,852 Labor and other related expenses102,387 83,756 300,451 247,332 Other restaurant operating expenses50,140 38,891 141,002 113,232 Occupancy expenses25,891 21,075 73,849 60,733 Pre-opening expenses3,813 2,387 9,980 5,782 Stock-based compensation, net of amounts capitalized 2,877 2,076 7,926 6,394 General and administrative expenses (1)30,869 25,604 89,224 76,133 Depreciation and amortization19,662 15,153 54,355 41,960 Other segment items (2)603 489 2,531 2,155 Interest expense4,567 3,441 11,904 9,421 Other income, net