First Watch Restaurant Group Inc (OQ:FWRG)

Sector:  Consumer Cyclicals Industry:  Restaurants & Bars
See Regulatory Filings on SEC
Company Contact
Address: 8725 Pendery Place, Suite 201, Suite 201
Tel: N/A
IR: See website
Key People
Christopher A. Tomasso
President, Chief Executive Officer, Director
Henry Melville Hope
Chief Financial Officer, Treasurer
John Daniel Jones
Chief Operating Officer
Laura Sorensen
Chief People Officer
Jay Wolszczak
General Counsel, Company Secretary
Eric Hartman
Chief Development Officer
Calum Middleton
Chief Strategy Officer
Business Overview
First Watch Restaurant Group, Inc. is a daytime dining concept serving made-to-order breakfast, brunch and lunch using fresh ingredients. The Company's menu includes elevated executions of classic favorites along with its specialties, such as the protein-packed Quinoa Power Bowl, Farmstand Breakfast Tacos, Avocado Toast, Chickichanga, Morning Meditation (juiced in-house daily), Vodka Kale Tonic and its famous Million Dollar Bacon. The Company operates approximately 435 restaurants in 28 states, and the restaurant concept is majority owned by Advent International, which is a private-equity firms.
Financial Overview
For the 26 weeks ended 26 June 2022, First Watch Restaurant Group Inc revenues increased 27% to $357.6M. Net income increased from $1.8M to $7.3M. Revenues reflect Franchise revenues increase of 28% to $5.2M. Net income benefited from Severance costs decrease of 42% to $155K (expense), Transaction (income) expenses, net decrease of 11% to $557K (expense), Initial Public Offering costs decrease of 1% to $1.2M (expense).
Employees: 10,000 as of Dec 26, 2021
Reporting Currency: U.S. Dollars
Enterprise value: $941.24M as of Jun 26, 2022
Annual revenue (TTM): $677.63M as of Jun 26, 2022
EBITDA (TTM): $56.71M as of Jun 26, 2022
Net annual income (TTM): $3.48M as of Jun 26, 2022
Free cash flow (TTM): $21.25M as of Jun 26, 2022
Net Debt Last Fiscal Year: $48.53M as of Jun 26, 2022
Shares outstanding: 59,080,348 as of Aug 5, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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