Company: FWRG
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001789940-25-000086
Chunk: 40

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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iation and amortization19,662 6.2 %15,153 6.0 %54,355 6.0 %41,960 5.6 %Impairments and loss on disposal of assets175 0.1 %114 — %311 — %386 0.1 %Transaction expenses, net428 0.1 %375 0.1 %2,220 0.2 %1,769 0.2 %Total operating costs and expenses305,972 96.8 %245,296 97.5 %887,673 98.0 %717,573 95.3 %Income from operations (1)10,050 3.2 %6,313 2.5 %18,476 2.1 %35,046 4.7 %Interest expense(4,567)(1.4)%(3,441)(1.4)%(11,904)(1.3)%(9,421)(1.3)%Other income, net191 0.1 %624 0.2 %1,141 0.1 %1,663 0.2 %Income before income taxes5,674 1.8 %3,496 1.4 %7,713 0.9 %27,288 3.6 %Income tax expense (2,683)(0.8)%(1,384)(0.6)%(3,445)(0.4)%(9,062)(1.2)%Net income$2,991 0.9 %$2,112 0.8 %$4,268 0.5 %$18,226 2.4 %_____________

(1) As a percentage of restaurant sales.

Restaurant Sales 

Restaurant sales represent the aggregate sales of food and beverages, net of discounts, at company-owned restaurants. Restaurant sales in any period are directly influenced by the number of operating weeks in the period, the number of open restaurants, customer traffic and average check. Average check growth is driven by our menu price increases and changes to our menu mix.

THIRTEEN WEEKS ENDEDTHIRTY-NINE WEEKS ENDED(in thousands)SEPTEMBER 28, 2025SEPTEMBER 29, 2024ChangeSEPTEMBER