Welcome to our dedicated page for First Watch Restaurant Group SEC filings (Ticker: FWRG), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
First Watch Restaurant Group, Inc. (NASDAQ: FWRG) files reports and disclosures with the U.S. Securities and Exchange Commission as a publicly traded company in the full-service restaurant industry. On this page, you can review its SEC filings alongside AI-powered summaries that help explain the key points in each document.
First Watch uses current reports on Form 8-K to announce material events such as quarterly financial results, supplemental investor presentations and secondary offerings by selling shareholders. For example, the company has filed 8-Ks to furnish press releases on results for fiscal quarters, to describe underwriting agreements for offerings of common stock by selling shareholders and to report corrections to underwriting agreement schedules. These filings often reference registration statements on Form S-3 and prospectus supplements used in connection with such offerings.
In its 8-K filings, First Watch also includes definitions of operating and non-GAAP metrics used in its communications, such as system-wide restaurants, system-wide sales, same-restaurant sales growth, same-restaurant traffic growth, Adjusted EBITDA, Adjusted EBITDA margin, restaurant level operating profit and restaurant level operating profit margin. Reviewing these definitions in the filings can help investors understand how the company evaluates its restaurant base and overall performance.
Through this filings page, you can access First Watch’s real-time updates from EDGAR, including Forms 8-K and related exhibits. AI-generated overviews highlight the main topics, such as results of operations, other events and underwriting agreements, so you can quickly see what each filing covers before reading the full text.
For users interested in deeper analysis, the filings page also connects these current reports to the broader reporting framework referenced in company press releases, which point to annual and quarterly reports on Forms 10-K and 10-Q available on the SEC’s website.
First Watch Restaurant Group, Inc. Chief Operations Officer John Daniel Jones reported an equity compensation grant in the form of restricted stock units tied to the company’s common stock. He acquired 30,096 units at a stated price of $0.00 per share as a grant, not an open-market purchase. These restricted stock units vest in three equal annual installments beginning on March 1, 2027, and are subject to possible forfeiture or acceleration. After this award, his directly reported holdings in the company’s common stock total 91,022 shares.
First Watch Restaurant Group, Inc. reported that Chief People Officer Laura Anne Sorensen acquired an award of 30,096 restricted stock units of common stock at no cash cost. According to the filing, these units vest in three equal annual installments beginning on March 1, 2027, subject to possible forfeiture or acceleration. After this grant, she directly holds 243,782 shares of common stock.
First Watch Restaurant Group, Inc. reported that Chief Brand Officer Matthew Eisenacher acquired 28,089 shares of common stock through a grant of restricted stock units. These RSUs vest in three equal annual installments beginning on March 1, 2027, and are subject to forfeiture or acceleration. Following this award, he directly holds 76,053 shares.
First Watch Restaurant Group, Inc. filed an amended current report to correct a wording error in its 2026 restaurant-opening outlook, clarifying that guidance for 59 to 63 new system-wide restaurants includes three company-owned closures.
For 2025, total revenues rose 20.3% to $1.22 billion$1.4 billion. Same-restaurant sales grew 3.6% and same-restaurant traffic increased 0.5%. Income from operations declined to $27.5 million (margin 2.3%) from $38.9 million (3.9%), while net income inched up to $19.4 million. Adjusted EBITDA increased to $120.9 million.
In Q4 2025, revenue grew 20.2% to $316.4 million with same-restaurant sales up 3.1% and traffic down 1.9%. Net income jumped to $15.2 million from $0.7 million, and Adjusted EBITDA rose to $33.7 million. The company opened 64 system-wide restaurants in 2025, ending the year with 633 locations. For 2026, it projects same-restaurant sales growth of 1–3%, total revenue growth of 12–14%, Adjusted EBITDA of $132–140 million, and capital spending of $150–160 million.
First Watch Restaurant Group, Inc. describes its daytime-only breakfast, brunch and lunch concept and long‑term growth plans in its annual report. As of December 28, 2025, it operated 633 restaurants across 32 states, including 560 company-owned and 73 franchise-owned locations, with average unit volume of $2.3 million.
The company outlines potential for more than 2,200 U.S. restaurants, citing 64 new openings and 19 franchise acquisitions in 2025, investments in digital ordering, pay-at-the-table and a refreshed app, plus people-focused programs for over 17,500 employees. Extensive risk factors cover economic pressures, food costs, labor, technology, data privacy and franchise performance.
First Watch Restaurant Group reported strong growth for 2025, with total revenues up 20.3% to
However, income from operations fell to
FMR LLC has disclosed a significant ownership position in First Watch Restaurant Group, Inc. In this amended Schedule 13G, FMR LLC reports beneficial ownership of 6,664,673.92 shares of First Watch common stock, representing 10.9% of the class as of the January 30, 2026 event date.
Abigail P. Johnson is also reported as a beneficial owner of the same 6,664,673.92 shares, with sole dispositive power but no voting power. The filing states that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of First Watch.
First Watch Restaurant Group Inc. received a Schedule 13G filing from Neuberger Berman entities reporting a passive institutional stake in its common stock. Neuberger Berman Group LLC and Neuberger Berman Investment Advisers LLC report beneficial ownership of 3,109,660 shares, representing 5.1% of the common stock class.
The filing shows no sole voting or dispositive power, but shared voting power over 2,949,566 shares and shared dispositive power over 3,109,660 shares. The position is held in various fiduciary and investment advisory capacities for unrelated clients, which retain the economic benefits of the shares.
The filers certify the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of First Watch Restaurant Group Inc.
FMR LLC filed a Schedule 13G reporting beneficial ownership of 5,399,098 shares of First Watch Restaurant Group Inc. common stock, representing 8.8% of the class as of 12/31/2025. FMR has sole voting power over 5,393,404 shares and sole dispositive power over 5,399,098 shares.
Abigail P. Johnson is also listed as a reporting person with sole dispositive power over the same 5,399,098 shares and no voting power. The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control. It notes that one or more other persons may receive dividends or sale proceeds, but no such person has more than 5% of the outstanding common stock.
The Vanguard Group filed a Schedule 13G reporting a passive ownership stake in First Watch Restaurant Group Inc common stock. Vanguard reports beneficial ownership of 3,320,929 shares, representing 5.44% of the outstanding common stock as of December 31, 2025.
Vanguard has shared voting power over 397,578 shares and shared dispositive power over 3,320,929 shares, with no sole voting or dispositive power. The filing states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control.
The filing explains that Vanguard’s clients, including registered investment companies and other managed accounts, are entitled to dividends and sale proceeds, and that no other single person has an interest in more than 5% of the class. Vanguard also notes an internal realignment effective January 12, 2026, after which certain subsidiaries may report beneficial ownership separately.