Company: FWRG
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001789940-25-000010
Chunk: 5

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-03-11
Form: 10-K
Item: Item 8
Chunk 5
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)632 (1,714)Inventory(508)(62)(1,005)Prepaid expenses509 (1,671)(123)Other assets, current and long-term111 (2,342)1,072 Accounts payable637 (1,301)(3,470)Accrued liabilities and other long-term liabilities2,648 6,082 4,739 Accrued compensation and deferred payroll taxes, current and long-term(467)3,812 (3,297)Deferred revenues, current and long-term(136)(657)719 Operating lease liabilities(5,142)(11,399)(7,048)Other liabilities(259)(368)(309)Net cash provided by operating activities115,673 95,338 62,937 Cash flows from investing activities:Capital expenditures(127,949)(84,527)(62,219)Business acquisitions, net of cash acquired(78,638)(39,880)— Purchase of intangible assets(100)(161)(1,111)Insurance proceeds34 1,198 219 Net cash used in investing activities(206,653)(123,370)(63,111)

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

61

FIRST WATCH RESTAURANT GROUP, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS - continued

(IN THOUSANDS)

 FISCAL YEAR 202420232022Cash flows from financing activities:Proceeds from borrowings on revolving credit facility $22,500 $30,000 $— Repayments of long-term debt, including finance lease liabilities(96,793)(6,183)(2,389)Proceeds from exercise of stock options, net of employee taxes paid6,429 5,827 1,425 Repayments of note payable— (1,376)(2,868)Note payable borrowing— — 1,892 Proceeds from issuance of long-term debt197,500 — — Repayments of borrowings on revolving credit facility(52,500)— — Contingent consideration payment(375)(198)(78)Payment of debt discount and deferred issuance costs(2,430)— — Net cash provided by (used in) financing activities74,331 28,070 (2,018)Net (decrease) increase in cash and cash equivalents and restricted cash(16,649)38 (2,