Company: FWRG
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001789940-25-000086
Chunk: 22

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 22
---
 average estimated useful life of the reacquired rights is 6.1 years.Pro-forma financial information of the acquired restaurants for periods prior to the acquisition dates is not presented due to the immaterial impact on the consolidated financial statements.

10

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

4.    Revenues

Revenues recognized disaggregated by type were as follows: THIRTEEN WEEKS ENDEDTHIRTY-NINE WEEKS ENDED(in thousands)SEPTEMBER 28, 2025SEPTEMBER 29, 2024SEPTEMBER 28, 2025SEPTEMBER 29, 2024Restaurant sales:In-restaurant dining sales$254,155 $207,047 $728,282 $613,422 Third-party delivery sales37,163 22,372 103,633 72,682 Take-out sales22,318 19,546 66,295 57,626 Total restaurant sales313,636 248,965 898,210 743,730 Franchise revenues:Royalty and system fund contributions2,333 2,587 7,371 8,257 Initial fees53 57 170 219 Business combinations - revenues recognized— — 398 413 Total franchise revenues2,386 2,644 7,939 8,889 Total revenues$316,022 $251,609 $906,149 $752,619 The following tables include a detail of liabilities from contracts with customers:(in thousands)SEPTEMBER 28, 2025DECEMBER 29, 2024Deferred revenues:Deferred gift card revenue$2,423 $5,385 Deferred franchise fee revenue - current214 238 Total current deferred revenues$2,637 $5,623 Other long-term liabilities:Deferred franchise fee revenue - non-current$1,242 $1,691 Changes in deferred gift card contract liabilities were as follows: THIRTEEN WEEKS ENDEDTHIRTY-NINE WEEKS ENDED(in thousands)SEPTEMBER 28, 2025SEPTEMBER 29, 2024SEPTEMBER 28, 2025SEPTEMBER 29, 2024Deferred gift card revenue:Balance, beginning of period$3,301 $3,