---
schema_version: "secwatch.filing_event.v1"
accession: "0001789940-25-000009"
form_type: "8-K"
ticker: "FWRG"
cik: "0001789940"
company_name: "First Watch Restaurant Group, Inc."
filed_at: "2025-03-11T23:59:59+00:00"
generated_at: "2026-05-24T23:52:32.991229+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "medium"
source: SEC EDGAR
---

# First Watch FY2024 revenue tops $1B, net income $18.9M; Q4 same-store sales -0.3%

## Summary
- Total revenues $1.01B for FY2024, +13.9% YoY; system-wide sales $1.2B.
- Net income $18.9M (FY); Adjusted EBITDA $113.8M, surpassing $100M for first time.
- Q4 total revenues $263.3M (+7.6%); same-restaurant sales -0.3%, traffic -3.0%.
- Q4 net income $0.7M vs $2.6M; Rest. level operating profit margin 18.8% vs 19.4%.
- Opened 50 system-wide restaurants in 2024 (25 in Q4); provided 2025 outlook.

## SEC filing metadata
- accession: 0001789940-25-000009
- form_type: 8-K
- ticker: FWRG
- cik: 0001789940
- company_name: First Watch Restaurant Group, Inc.
- filed_at: 2025-03-11T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: medium
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1789940/000178994025000009/0001789940-25-000009-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1789940/000178994025000009/fwrg-20250311.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001789940-25-000009
- JSON: https://secwatch.observer/filing/0001789940-25-000009.json
- Plain text: https://secwatch.observer/filing/0001789940-25-000009.txt

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