---
schema_version: "secwatch.filing_event.v1"
accession: "0001789940-24-000089"
form_type: "8-K"
ticker: "FWRG"
cik: "0001789940"
company_name: "First Watch Restaurant Group, Inc."
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T19:33:47.092545+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# First Watch Q1 revenue up 14.7% to $242.4M; net income down to $7.2M, same-restaurant sales +0.5%

## Summary
- Total revenues $242.4M, +14.7% YoY; system-wide sales $289.6M, +9.4%.
- Same-restaurant sales +0.5%, traffic -4.5%; net income $7.2M ($0.12 diluted) vs $9.4M.
- Income from operations margin 5.1% vs 7.4% prior year; restaurant level margin 20.8% vs 21.2%.
- Adjusted EBITDA $28.6M vs $27.4M; opened 9 system-wide restaurants, total 531.
- CEO notes improved sequential traffic trends and record customer experience scores.

## SEC filing metadata
- accession: 0001789940-24-000089
- form_type: 8-K
- ticker: FWRG
- cik: 0001789940
- company_name: First Watch Restaurant Group, Inc.
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1789940/000178994024000089/0001789940-24-000089-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1789940/000178994024000089/fwrg-20240507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001789940-24-000089
- JSON: https://secwatch.observer/filing/0001789940-24-000089.json
- Plain text: https://secwatch.observer/filing/0001789940-24-000089.txt

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