{"schema_version":"secwatch.filing_event.v1","accession":"0001789940-23-000010","form_type":"8-K","ticker":"FWRG","cik":"0001789940","company_name":"First Watch Restaurant Group, Inc.","filed_at":"2023-03-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:46.557316+00:00","generated_at":"2026-06-18T09:55:56.096984+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"First Watch FY2022 revenue up 21.5% to $730.2M; same-restaurant sales +14.5%","bullets":["FY2022 total revenues $730.2M (+21.5% YoY); net income $6.9M vs loss of $2.1M in 2021.","FY2022 same-restaurant sales growth 14.5%, traffic growth 7.7%; 43 system-wide restaurants opened.","Q4 2022 revenues $185.7M (+14.2%); same-restaurant sales +7.7%, traffic -0.6% vs Q4 2021.","Adjusted EBITDA $69.3M in FY2022 vs $66.3M in FY2021; restaurant-level operating profit margin 17.9%.","2023 outlook: same-restaurant sales +15.7%, traffic +8.5% through first two periods of Q1."],"urls":{"canonical":"https://secwatch.observer/filing/0001789940-23-000010","json":"https://secwatch.observer/filing/0001789940-23-000010.json","markdown":"https://secwatch.observer/filing/0001789940-23-000010.md","text":"https://secwatch.observer/filing/0001789940-23-000010.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1789940/000178994023000010/0001789940-23-000010-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1789940/000178994023000010/fwrg-20230307.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-18T09:55:56.096984+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"738532e786a76bab6f1b6fd152f9e6753c9cdb28","claim":"First Watch Restaurant Group, Inc. reported thirteen weeks ended December 25, 2022 results: revenue Total revenues increased 14.2% to $185.7 million in Q4 2022 from $162.6 million in Q4 2021, net income Net loss improved to $(0.5) million in Q4 2022 compared to $(4.7) million in Q4 2021.","evidence_excerpt":"Highlights for Q4 2022 compared to Q4 2021: • Total revenues increased 14.2% to $185.7 million in Q4 2022 from $162.6 million in Q4 2021 • System-wide sales increased 15.6% to $234.2 million in Q4 2022 from $202.7 million in Q4 2021 • Same-restaurant sales growth of 7.7% (up 29.3% relative to Q4 2019 * ) • Same-restaurant traffic growth of (0.6)% (up 5.2% relative to Q4 2019*) • Income from operations of $1.5 million and Income from operations margin of 0.8% in Q4 2022 compared to Loss from operations of $(1.1) million and Loss from operations margin of (0.7)% in Q4 2021, respectively • Restaurant level operating profit** and Restaurant level operating profit margin ** of $30.5 million and 16.7% in Q4 2022 compared to $29.2 million and 18.2% in Q4 2021, respectively • Net loss improved to $(0.5) million in Q4 2022 compared to $(4.7) million in Q4 2021 • Adjusted EBITDA ** increased to $15.1 million in Q4 2022 from $14.2 million in Q4 2021 • Opened 16 system-wide restaurants (11 company","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1789940/000178994023000010/0001789940-23-000010-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"thirteen weeks ended December 25, 2022"},{"label":"Revenue","value":"Total revenues increased 14.2% to $185.7 million in Q4 2022 from $162.6 million in Q4 2021"},{"label":"Net income","value":"Net loss improved to $(0.5) million in Q4 2022 compared to $(4.7) million in Q4 2021"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"ce7cefbcb1d65378a35f073772e5ab8ab113406e","claim":"First Watch Restaurant Group, Inc. reported fourth fiscal quarter and fiscal year ended December 25, 2022 results: revenue Total revenues of $730.2 million, up 21.5%, net income Net income of $6.9 million compared to Net loss of $(2.1) million in 2021.","evidence_excerpt":"First Watch Restaurant Group, Inc. Reports Strong 2022 Financial Results and Provides 2023 Outlook • Total revenues of $730.2 million, up 21.5% and System-wide sales of $914.8 million, up 21.9% • Same-restaurant sales growth of 14.5% and Same-restaurant traffic growth of 7.7% • Income from operations margin of 2.4% and Restaurant level operating profit margin of 17.9% • 43 system-wide restaurants opened across 16 states","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1789940/000178994023000010/0001789940-23-000010-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"fourth fiscal quarter and fiscal year ended December 25, 2022"},{"label":"Revenue","value":"Total revenues of $730.2 million, up 21.5%"},{"label":"Net income","value":"Net income of $6.9 million compared to Net loss of $(2.1) million in 2021"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}