---
schema_version: "secwatch.filing_event.v1"
accession: "0001789940-23-000103"
form_type: "8-K"
ticker: "FWRG"
cik: "0001789940"
company_name: "First Watch Restaurant Group, Inc."
filed_at: "2023-11-01T23:59:59+00:00"
generated_at: "2026-06-09T03:02:56.005282+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# First Watch Q3 revenue $219.2M (+17.3%), net income $5.4M, raises FY guidance

## Summary
- Total revenue $219.2M, up 17.3% YoY; same-restaurant sales +4.8%.
- Net income $5.4M ($0.09 diluted EPS) vs $46K prior year; Adjusted EBITDA $21.6M, up 27%.
- Restaurant level operating profit margin 18.7% vs 17.3%; income from ops margin 3.6% vs 1.4%.
- Opened 13 system-wide restaurants and acquired 11 franchise units; total now 505 across 29 states.
- Raised FY2023 guidance for same-restaurant sales growth, total revenue growth, and Adjusted EBITDA.

## SEC filing metadata
- accession: 0001789940-23-000103
- form_type: 8-K
- ticker: FWRG
- cik: 0001789940
- company_name: First Watch Restaurant Group, Inc.
- filed_at: 2023-11-01T23:59:59+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/1789940/000178994023000103/0001789940-23-000103-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1789940/000178994023000103/fwrg-20231101.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001789940-23-000103
- JSON: https://secwatch.observer/filing/0001789940-23-000103.json
- Plain text: https://secwatch.observer/filing/0001789940-23-000103.txt

## Key facts
- Earnings Releases
  First Watch Restaurant Group, Inc. reported the thirteen weeks ended September 24, 2023 results: revenue $219.2 million, net income $5.4 million, or $0.09 per diluted share, EPS $0.09 per diluted share. Guidance raised.
  - Period: the thirteen weeks ended September 24, 2023
  - Revenue: $219.2 million
  - Net income: $5.4 million, or $0.09 per diluted share
  - EPS: $0.09 per diluted share
  - Guidance: raised
  - Result: reported results
  source text: our restaurant count and successfully navigate within virtually any economic environment. ” Highlights for Q3 2023 compared to Q3 2022*: • Total revenues increased 17.3% to $219.2 million in Q3 2023 from $186.9 million in Q3 2022 • System-wide sales increased 14.9% to $270.3 million in Q3 2023 from $235.2 million in Q3 2022 • Same-restaurant sales growth of 4.8%
  evidence_url: https://www.sec.gov/Archives/edgar/data/1789940/000178994023000103/0001789940-23-000103-index.htm

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