Company: FWRG
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001789940-25-000086
Chunk: 39

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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 the schedules within the Non-GAAP Financial Measures Reconciliations section below.

22

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 and thirty-nine weeks ended September 28, 2025 and September 29, 2024, respectively:

THIRTEEN WEEKS ENDEDTHIRTY-NINE WEEKS ENDED(in thousands)SEPTEMBER 28, 2025SEPTEMBER 29, 2024SEPTEMBER 28, 2025SEPTEMBER 29, 2024RevenuesRestaurant sales$313,636 99.2 %$248,965 98.9 %$898,210 99.1 %$743,730 98.8 %Franchise revenues2,386 0.8 %2,644 1.1 %7,939 0.9 %8,889 1.2 %Total revenues316,022 100.0 %251,609 100.0 %906,149 100.0 %752,619 100.0 %Operating costs and expensesRestaurant operating expenses (1) (exclusive of depreciation and amortization shown below):Food and beverage costs69,730 22.2 %55,865 22.4 %208,355 23.2 %163,852 22.0 %Labor and other related expenses102,387 32.6 %83,756 33.6 %300,451 33.4 %247,332 33.3 %Other restaurant operating expenses50,140 16.0 %38,891 15.6 %141,002 15.7 %113,232 15.2 %Occupancy expenses25,891 8.3 %21,075 8.5 %73,849 8.2 %60,733 8.2 %Pre-opening expenses3,813 1.2 %2,387 1.0 %9,980 1.1 %5,782 0.8 %General and administrative expenses33,746 10.7 %27,680 11.0 %97,150 10.7 %82,527 11.0 %Deprec