---
schema_version: "secwatch.filing_event.v1"
accession: "0001789940-23-000090"
form_type: "8-K"
ticker: "FWRG"
cik: "0001789940"
company_name: "First Watch Restaurant Group, Inc."
filed_at: "2023-08-01T23:59:59+00:00"
generated_at: "2026-06-12T18:44:24.976457+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# First Watch Q2 revenue up 17.3% to $216.3M, net income $8.0M, raises FY 2023 EBITDA guidance

## Summary
- Total revenues $216.3M (+17.3% YoY); same-restaurant sales +7.8%, traffic -1.2%.
- Net income $8.0M ($0.13 diluted EPS) vs $2.7M ($0.05) YoY; Adjusted EBITDA $25.8M vs $17.8M.
- Restaurant-level operating profit margin improved to 20.9% from 18.2%; income from ops margin 5.3% from 2.8%.
- Opened 9 system-wide restaurants; total now 492; acquired 6 franchise restaurants.
- Company raises FY 2023 Adjusted EBITDA guidance (specific new range not disclosed).

## SEC filing metadata
- accession: 0001789940-23-000090
- form_type: 8-K
- ticker: FWRG
- cik: 0001789940
- company_name: First Watch Restaurant Group, Inc.
- filed_at: 2023-08-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1789940/000178994023000090/0001789940-23-000090-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1789940/000178994023000090/fwrg-20230801.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001789940-23-000090
- JSON: https://secwatch.observer/filing/0001789940-23-000090.json
- Plain text: https://secwatch.observer/filing/0001789940-23-000090.txt

## Key facts
- Earnings Releases
  First Watch Restaurant Group, Inc. reported the thirteen weeks ended June 25, 2023 ("Q2 2023") results: revenue $216.3 million, net income $8.0 million, EPS $0.13 per diluted share. Guidance raised.
  - Period: the thirteen weeks ended June 25, 2023 ("Q2 2023")
  - Revenue: $216.3 million
  - Net income: $8.0 million
  - EPS: $0.13 per diluted share
  - Guidance: raised
  - Result: reported results
  source text: in our unique opportunity and the growth algorithm that underpins our long-term targets .” Highlights for Q2 2023 compared to Q2 2022*: • Total revenues increased 17.3% to $216.3 million in Q2 2023 from $184.5 million in Q2 2022 • System-wide sales increased 17.4% to $271.5 million in Q2 2023 from $231.2 million in Q2 2022 • Same-restaurant sales growth of 7.8%
  evidence_url: https://www.sec.gov/Archives/edgar/data/1789940/000178994023000090/0001789940-23-000090-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.