---
schema_version: "secwatch.filing_event.v1"
accession: "0001789940-26-000059"
form_type: "8-K"
ticker: "FWRG"
cik: "0001789940"
company_name: "First Watch Restaurant Group, Inc."
filed_at: "2026-05-05T23:59:59+00:00"
generated_at: "2026-05-14T23:29:58.489547+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# First Watch Q1 net loss widens to $2.7M but revenue grows 17.3%, raises EBITDA guidance

## Summary
- Total revenues up 17.3% to $331.0M; same-restaurant sales grew 2.8%.
- Adjusted EBITDA rose to $27.8M (from $22.8M); restaurant-level margin 18.5% (vs 16.5%).
- Net loss widened to $(2.7)M ($0.04 diluted loss) from $(0.8)M a year ago.
- Opened 16 new system-wide restaurants; total system-wide count 648 across 32 states.
- Reaffirmed top-line outlook and raised low end of adjusted EBITDA guidance for FY 2026.

## SEC filing metadata
- accession: 0001789940-26-000059
- form_type: 8-K
- ticker: FWRG
- cik: 0001789940
- company_name: First Watch Restaurant Group, Inc.
- filed_at: 2026-05-05T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1789940/000178994026000059/0001789940-26-000059-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1789940/000178994026000059/fwrg-20260505.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001789940-26-000059
- JSON: https://secwatch.observer/filing/0001789940-26-000059.json
- Plain text: https://secwatch.observer/filing/0001789940-26-000059.txt

## Key facts
- Earnings Releases
  First Watch Restaurant Group, Inc. reported thirteen weeks ended March 29, 2026 ("Q1 2026") results: revenue $331.0 million, net income $(2.7) million, EPS $(0.04) per diluted share. Guidance reaffirmed.
  - Period: thirteen weeks ended March 29, 2026 ("Q1 2026")
  - Revenue: $331.0 million
  - Net income: $(2.7) million
  - EPS: $(0.04) per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: total revenues increased 17.3% to $331.0 million as compared to $282.2 million in the same period of 2025
  evidence_url: https://www.sec.gov/Archives/edgar/data/1789940/000178994026000059/0001789940-26-000059-index.htm

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