---
schema_version: "secwatch.filing_event.v1"
accession: "0001789940-24-000011"
form_type: "8-K"
ticker: "FWRG"
cik: "0001789940"
company_name: "First Watch Restaurant Group, Inc."
filed_at: "2024-03-05T23:59:59+00:00"
generated_at: "2026-06-05T03:58:01.910542+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# First Watch FY23 rev $891.6M (+22%), adj EBITDA $99.5M, same-restaurant +7.6%

## Summary
- Total revenues $891.6M (up 22.1% YoY), net income $25.4M vs $6.9M in 2022.
- Adjusted EBITDA $99.5M (up from $69.3M); restaurant-level operating profit margin 20.0% (vs 17.9%).
- Same-restaurant sales +7.6% with positive traffic (+0.2%); Q4 same-restaurant sales +5.0%.
- Opened 51 system-wide restaurants in 2023; total 524 restaurants; acquired 23 franchise restaurants.
- 2024 outlook provided but no specific numerical guidance included in release.

## SEC filing metadata
- accession: 0001789940-24-000011
- form_type: 8-K
- ticker: FWRG
- cik: 0001789940
- company_name: First Watch Restaurant Group, Inc.
- filed_at: 2024-03-05T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1789940/000178994024000011/0001789940-24-000011-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1789940/000178994024000011/fwrg-20240305.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001789940-24-000011
- JSON: https://secwatch.observer/filing/0001789940-24-000011.json
- Plain text: https://secwatch.observer/filing/0001789940-24-000011.txt

## Key facts
- Earnings Releases
  First Watch Restaurant Group, Inc. reported the fourteen weeks ended December 31, 2023 ("Q4 2023") results: revenue $244.6 million, net income $2.6 million.
  - Period: the fourteen weeks ended December 31, 2023 ("Q4 2023")
  - Revenue: $244.6 million
  - Net income: $2.6 million
  - Result: reported results
  source text: Total revenues increased 31.7% to $244.6 million in Q4 2023 from $185.7 million in Q4 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1789940/000178994024000011/0001789940-24-000011-index.htm
- Earnings Releases
  First Watch Restaurant Group, Inc. reported the 53-week fiscal year ended December 31, 2023 ("2023") results: revenue $891.6 million, net income $25.4 million.
  - Period: the 53-week fiscal year ended December 31, 2023 ("2023")
  - Revenue: $891.6 million
  - Net income: $25.4 million
  - Result: reported results
  source text: Total revenues increased 22.1% to $891.6 million from $730.2 million in 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1789940/000178994024000011/0001789940-24-000011-index.htm

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