Highest-materiality recent filing
First Watch posts investor presentation with long-term growth targets; no specifics disclosed
Investor presentation posted to investors.firstwatch.com on August 4, 2026.
First Watch Q2 revenue up 15.2% to $354.7M; same-restaurant sales +3.4%
Total revenues $354.7M (+15.2% YoY); system-wide sales $397.0M (+14.7%).
First Watch board adopts annual say-on-pay frequency after shareholder advisory vote
Board determined to hold future say-on-pay votes annually, consistent with its recommendation.
First Watch appoints Ashlee Weisser as CFO effective June 8, 2026
Weisser promoted from SVP Financial Planning & Analysis; succeeds retiring CFO Mel Hope.
Stockholders elected Irene Chang Britt, Charles Jemley, and Rachel Tipograph as Class II directors to serve until 2029.
First Watch Q1 net loss widens to $2.7M but revenue grows 17.3%, raises EBITDA guidance
Total revenues up 17.3% to $331.0M; same-restaurant sales grew 2.8%.
First Watch terminates COO Dan Jones as part of ops restructuring
Dan Jones terminated as Chief Operations Officer effective March 27, 2026.
First Watch corrects FY2026 new restaurant outlook to include 3 closures; FY2025 revenue $1.2B
Amendment corrects typo: FY2026 outlook for new system-wide restaurants now explicitly includes three company-owned restaurant closures.
First Watch Q4 revenue $316.4M (+20.2%), net income $15.2M; CFO retires
Full year 2025: total revenues $1.2B (+20.3%), net income $19.4M, adjusted EBITDA $120.9M.
First Watch reports Q4 same-restaurant sales +3.1%, traffic -1.9%; FY +3.6% sales
Same-restaurant sales growth +3.1% in Q4, +3.6% for FY 2025.
First Watch announces director resignations and appointment of Rachel Tipograph to board
Tricia Glynn (director since 2017) and David Paresky (director since 2023) resigned effective Dec 23, 2025, tied to Advent International's exit.
First Watch secondary offering of 5.29M shares by selling shareholders at $17.71/share
Selling shareholders sold 5,289,784 shares at $17.71416 per share; offering closed Nov 7, 2025.
First Watch Q3 revenue up 25.6% to $316M; Adj. EBITDA $34.1M, raises FY25 guide
Total revenues $316.0M (+25.6% YoY); system-wide sales $352.7M (+20.9%).
First Watch files 8-K/A to correct clerical error in underwriting agreement for secondary offering
Selling shareholders sold 5M shares at $17.70/share; company received no proceeds.
First Watch selling shareholders to sell 5M shares in secondary offering at $17.70
Selling shareholders sold 5,000,000 shares at $17.70 per share; offering closed Aug. 8, 2025.
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.
First Watch stockholders re-elect all four Class I directors and ratify PwC as auditor
All four Class I director nominees elected: Fleisher, Kussell, Lilak, Solheim received >39M votes each, with broker non-votes of 4.2M.
Net loss of $(0.8)M ($(0.01) diluted EPS) vs net income of $7.2M ($0.12 EPS) in Q1 2024.
First Watch adopts executive severance plan with CEO receiving 2x salary on non-CIC termination
CEO gets 2x base salary + target bonus on qualifying termination; other execs 1.5x; VPs 1x and 0.75x.
First Watch FY2024 revenue tops $1B, net income $18.9M; Q4 same-store sales -0.3%
Total revenues $1.01B for FY2024, +13.9% YoY; system-wide sales $1.2B.
First Watch Q4 same-restaurant sales -0.3%, traffic -3%; 25 new openings
Q4 same-restaurant sales fell 0.3% YoY; traffic declined 3.0%.
Selling shareholders of First Watch offer 8M shares at $19.76; company gets no proceeds
Selling shareholders sold 8,000,000 shares at $19.76 per share; underwriter has 30-day option for 1,200,000 additional shares.
First Watch to acquire 16 franchise restaurants in Carolinas for $49M
Acquiring 15 franchise restaurants plus one under development in NC/SC for $49M on cash-free, debt-free basis.
First Watch Q3 revenue +14.8% to $251.6M; Net income $2.1M; Adj. EBITDA $25.6M
Total revenues $251.6M (+14.8% YoY); system-wide sales $291.8M (+8.0%).
First Watch closed 85 restaurants due to Hurricane Milton; 77 reopened by Oct 14
85 Company-owned restaurants closed at least one day from Oct 8-13; 77 reopened by Oct 14.
First Watch appoints Charles Jemley and Michael Fleisher to Board of Directors
Director Julie M.B. Bradley resigned effective Aug 20, 2024, to pursue other interests; no disagreements with Company.
First Watch Q2 revenue up 19.5% to $258.6M; adjusted EBITDA +37% to $35.3M
Net income rose 12% to $8.9M ($0.14 diluted EPS) from $8.0M ($0.13) a year ago.
Elected Ralph Alvarez, Tricia Glynn, and Christopher Tomasso as Class III directors to serve until 2027.
First Watch Q1 revenue up 14.7% to $242.4M; net income down to $7.2M, same-restaurant sales +0.5%
Total revenues $242.4M, +14.7% YoY; system-wide sales $289.6M, +9.4%.
First Watch acquires 21 franchise restaurants in North Carolina for $75M
Purchase price $75M on cash-free, debt-free basis; includes 21 restaurants and development rights in North Carolina.
First Watch reports secondary offering of 6.9M shares by selling shareholders at $23.99
Selling shareholders sold 6,000,000 shares at $23.99 each; underwriter’s 30-day option for 900,000 additional shares was fully exercised.
First Watch FY23 rev $891.6M (+22%), adj EBITDA $99.5M, same-restaurant +7.6%
Total revenues $891.6M (up 22.1% YoY), net income $25.4M vs $6.9M in 2022.
First Watch to acquire 21 franchise restaurants in North Carolina for $75M
Asset Purchase Agreement with VIM Holdings to buy 21 franchise-owned restaurants and development rights in NC for $75M cash-free, debt-free.
First Watch reports Q4 same-restaurant sales up 5.0%; FY traffic rises 0.2%
Q4 same-restaurant sales growth of 5.0% vs prior year; FY same-restaurant sales up 7.6%.
First Watch appoints Jostein Solheim to Board of Directors
Board expanded from 8 to 9; Solheim elected as Class I director effective Dec 6, 2023.
First Watch posts investor presentation; no material financial updates disclosed
Investor presentation posted on company website on November 15, 2023, titled 'A Breakout Growth Story 40 Years in the Making'.
First Watch acquires six franchise restaurants in Florida; total 23 in 2023
Acquired six franchise-owned restaurants in Florida, effective Nov 13, 2023; funded with cash on hand.
First Watch Q3 revenue $219.2M (+17.3%), net income $5.4M, raises FY guidance
Total revenue $219.2M, up 17.3% YoY; same-restaurant sales +4.8%.
First Watch opens 500th system-wide restaurant in Gainesville, Georgia
Opened 500th restaurant on August 21, 2023, in Gainesville, GA.
First Watch acquires 6 franchise restaurants in Georgia and SC, plus development rights
Acquired six franchise-owned restaurants, one under construction, and development rights in Georgia and South Carolina.
First Watch Q2 revenue up 17.3% to $216.3M, net income $8.0M, raises FY 2023 EBITDA guidance
Total revenues $216.3M (+17.3% YoY); same-restaurant sales +7.8%, traffic -1.2%.
First Watch appoints Irene Chang Britt to Board of Directors
Board size increased from 7 to 8; Britt elected as Class II director for term expiring at 2026 annual meeting.
First Watch acquires five franchise restaurants in Milwaukee area
Acquisition effective June 26, 2023 includes all five previously franchise-owned restaurants.
First Watch selling shareholders to sell 3M shares in secondary offering at $16.424/sh
Selling shareholders agreed to sell 3,000,000 shares at $16.424 each to Jefferies LLC.
First Watch annual meeting elects two Class II directors, ratifies PwC as auditor
Julie M.B. Bradley and David Paresky elected as Class II directors until 2026.
First Watch announces secondary offering of 3,500,000 shares by selling shareholders
Selling shareholders agreed to sell 3,500,000 shares at $15.47 per share to underwriter Jefferies LLC on May 15, 2023.
First Watch Q1 revenue $211.4M (+22% YoY), net income $9.4M, raises FY23 EBITDA guidance
Total revenues $211.4M, up 22.1% YoY; same-restaurant sales +12.9%, traffic +5.1%.
First Watch acquires 6 franchise restaurants in Omaha, effective May 1
Acquisition of six previously franchise-owned First Watch restaurants in Omaha, Nebraska, effective May 1, 2023.
Director Michael White resigns; David Paresky appointed to First Watch board
Michael White resigned from the Board effective April 4, 2023; no disagreements with management or Board.
Director Lisa Price resigns from First Watch board effective March 24, 2023
Lisa Price, director since September 2020, resigned for personal reasons effective March 24, 2023.
As previously announced in the Company’s Current Report on Form 8-K dated February 20, 2026, it is expected that Mr. Hope will serve as an advisor to the Company for a period of time to ensure a smooth transition.
On June 6, 2026, the Board of Directors of First Watch Restaurant Group, Inc. (the “Company”) appointed Ashlee Weisser, the Company’s Senior Vice President, Financial Planning & Analysis, as the Company’s Chief Financial Officer, effective June 8, 2026.
On August 22, 2024, the Board increased the number of directors of the Company from nine to ten, and appointed Michael Fleisher to serve as a Class I director, effective November 1, 2024
On August 22, 2024, the Board appointed Charles Jemley as a Class II director to fill the vacancy on the Board resulting from the resignation of Ms. Bradley, with such appointment effective August 22, 2024
On August 20, 2024, Julie M.B. Bradley, who has been a director of First Watch Restaurant Group, Inc. (the “Company”) since January 2020, informed the Company of her intent to resign from the Company’s Board of Directors (the “Board”) effective immediately to pursue other professional interests.
elected Jostein Solheim to serve as a Class I director, effective December 6, 2023
elected Irene Chang Britt to serve as a Class II director, effective immediately, for a term expiring at the Company’s 2026 annual meeting of stockholders.
On April 4, 2023, the Board appointed David Paresky as a Class II director to fill the vacancy on the Board resulting from the resignation of Mr. White, with such appointment effective on April 5, 2023.
On April 4, 2023, Michael White, who has been a director of First Watch Restaurant Group, Inc. (the “Company”) since April 2019, informed the Company of his intent to resign from the Company’s Board of Directors (the “Board”) effective immediately.
On March 9, 2023, Lisa Price, who has been a director of First Watch Restaurant Group, Inc. (the “Company”) since September 2020, informed the Company of her intent to resign from the Company’s Board of Directors (the “Board”) for personal reasons.
Kenneth L. Pendery, Jr., Chairman Emeritus of the Company, will retire from his role as Chairman Emeritus and as a director of the Company on September 1, 2022.
On June 17, 2022, the Board of Directors (the “Board”) of First Watch Restaurant Group, Inc. (the “Company”) increased the number of directors of the Company from eight to nine, and elected Stephanie Lilak to serve as a director, effective immediately
Max materiality 0.80 · Median 0.60 · Most common event earnings