{"schema_version":"secwatch.filing_event.v1","accession":"0001789940-25-000040","form_type":"8-K","ticker":"FWRG","cik":"0001789940","company_name":"First Watch Restaurant Group, Inc.","filed_at":"2025-05-06T23:59:59+00:00","discovered_at":"2026-05-14T18:02:49.733833+00:00","generated_at":"2026-05-22T13:20:13.750216+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"First Watch Q1 2025: Revenue rises 16.4% to $282.2M, net loss of $0.8M vs prior-year profit; margins shrink","bullets":["Net loss of $(0.8)M ($(0.01) diluted EPS) vs net income of $7.2M ($0.12 EPS) in Q1 2024.","Total revenues $282.2M (+16.4% YoY); system-wide sales $323.0M (+11.5%); same-restaurant sales +0.7%, traffic -0.7%.","Restaurant-level operating profit margin fell to 16.5% from 20.8%; income from operations margin 0.4% vs 5.1%.","Adjusted EBITDA $22.8M vs $28.6M; opened 13 new restaurants (net 12), total 584 system-wide.","CEO cites encouraging traffic trends and strong NRO performance despite macro uncertainty."],"urls":{"canonical":"https://secwatch.observer/filing/0001789940-25-000040","json":"https://secwatch.observer/filing/0001789940-25-000040.json","markdown":"https://secwatch.observer/filing/0001789940-25-000040.md","text":"https://secwatch.observer/filing/0001789940-25-000040.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1789940/000178994025000040/0001789940-25-000040-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1789940/000178994025000040/fwrg-20250506.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-22T13:20:13.750216+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}