secwatch.observer — SEC 8-K summary
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Issuer:     First Watch Restaurant Group, Inc. (FWRG)
CIK:        0001789940
Form:       8-K
Filed at:   2025-11-04T23:59:59+00:00
Accession:  0001789940-25-000085
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Watch Q3 revenue up 25.6% to $316M; Adj. EBITDA $34.1M, raises FY25 guide
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- Total revenues $316.0M (+25.6% YoY); system-wide sales $352.7M (+20.9%).
- Same-restaurant sales +7.1%, traffic +2.6%; restaurant-level OP margin 19.7% (up from 18.9%).
- Net income $3.0M ($0.05 diluted EPS) vs $2.1M ($0.03); Adj. EBITDA $34.1M vs $25.6M.
- Opened 21 new system-wide restaurants in 14 states; total system count 620.
- FY2025 adjusted EBITDA guidance raised to ~$123M (high end of prior range).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1789940/000178994025000085/0001789940-25-000085-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1789940/000178994025000085/fwrg-20251104.htm
  HTML page:      https://secwatch.observer/filing/0001789940-25-000085

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