Company: FWRG
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001789940-25-000041
Chunk: 38

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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ations section below.

Results of Operations 

The following table summarizes our results of operations and the percentages of certain items in relation to Total revenues or, where indicated, Restaurant sales for the thirteen weeks ended March 30, 2025 and March 31, 2024:

THIRTEEN WEEKS ENDED(in thousands)MARCH 30, 2025MARCH 31, 2024RevenuesRestaurant sales$279,591 99.1 %$239,308 98.7 %Franchise revenues2,649 0.9 %3,141 1.3 %Total revenues$282,240 100.0 %$242,449 100.0 %Operating costs and expensesRestaurant operating expenses (1) (exclusive of depreciation and amortization shown below):Food and beverage costs66,647 23.8 %52,184 21.8 %Labor and other related expenses96,754 34.6 %79,735 33.3 %Other restaurant operating expenses44,259 15.8 %36,792 15.4 %Occupancy expenses23,149 8.3 %19,168 8.0 %Pre-opening expenses2,660 1.0 %1,567 0.7 %General and administrative expenses30,219 10.7 %27,658 11.4 %Depreciation and amortization16,557 5.9 %12,271 5.1 %Impairments and loss on disposal of assets9 — %119 — %Transaction expenses, net873 0.3 %669 0.3 %Total operating costs and expenses281,127 99.6 %230,163 94.9 %Income from operations (1)1,113 0.4 %12,286 5.1 %Interest expense(3,334)(1.2)%(2,599)(1.1)%Other income, net684 0.2 %326 0.1 %(Loss) income before income taxes(1,537)(0.5)%10,013 4.1 %Income tax benefit (expense) 708 0.3 %(2,799)(1.2)%Net (loss) income$(829)(0.3)%$7,214 3.0