secwatch.observer — SEC 8-K summary
======================================

Issuer:     First Watch Restaurant Group, Inc. (FWRG)
CIK:        0001789940
Form:       8-K
Filed at:   2025-08-05T23:59:59+00:00
Accession:  0001789940-25-000071
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Watch Q2 net income falls to $2.1M; raises 2025 adjusted EBITDA guidance
------------------------------------------------------------------------------

- Total revenues up 19.1% to $307.9M from $258.6M a year ago.
- Net income $2.1M ($0.03 diluted EPS) vs $8.9M ($0.14) in Q2 2024.
- Adjusted EBITDA declined to $30.4M from $35.3M; Restaurant-level margin fell to 18.6% from 21.9%.
- Same-restaurant sales +3.5%; traffic +2.0% (third straight quarter of sequential improvement).
- Opened 17 system-wide restaurants, ending at 600 total; raised 2025 adjusted EBITDA guidance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1789940/000178994025000071/0001789940-25-000071-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1789940/000178994025000071/fwrg-20250805.htm
  HTML page:      https://secwatch.observer/filing/0001789940-25-000071

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer