at first watch, we believe in putting our customers first. we begin each morning at the crack of dawn, slicing and juicing fresh fruits and vegetables, baking muffins and whipping up our french toast batter from scratch. freshness is never compromised — as we use only the finest ingredients available for the freshest taste possible. when you arrive, we welcome you with a pot—not just a cup—of our sunrise select® premium blend coffee, along with complimentary newspapers and wifi internet access. we want to provide every customer with an extraordinary dining experience. it's all part of our "you first®" service philosophy—doing whatever it takes to make your visit memorable. our history back in 1983, there was no breakfast restaurant–focused category, really. then the original first watch opened from 7 a.m. – 2:30 p.m. with the idea that people want a breakfast, brunch and lunch restaurant that doesn't moonlight with steaks or anything else later in the day. word about this
Company profile
Ticker
FWRG
Exchange
Website
CEO
Christopher A. Tomasso
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
AI Fresh Parent, Inc. • E&I Holdings, Inc. • First Watch E&I Restaurant Group, LLC • First Watch Franchise Development Co. • First Watch Restaurants Texas, Inc. • First Watch Restaurants, Inc. • First Watch Texas Holding, Inc. • FWR Holding Corporation • Good Egg Restaurants, LLC • TFW-NC, LLC ...
IRS number
824271369
FWRG stock data
Latest filings (excl ownership)
8-K
First Watch Acquires 21 Franchise Restaurants In North Carolina
15 Apr 24
ARS
2023 FY
Annual report to shareholders
8 Apr 24
DEFA14A
Additional proxy soliciting materials
8 Apr 24
DEF 14A
Definitive proxy
8 Apr 24
PRE 14A
Preliminary proxy
28 Mar 24
8-K
Other Events
12 Mar 24
424B3
Prospectus supplement
11 Mar 24
FWP
Free writing prospectus
7 Mar 24
10-K
2023 FY
Annual report
5 Mar 24
8-K
First Watch Restaurant Group, Inc. Reports Strong 2023 Financial Results and Provides 2024 Outlook
5 Mar 24
Transcripts
FWRG
Earnings call transcript
2023 Q4
5 Mar 24
FWRG
Earnings call transcript
2023 Q3
1 Nov 23
FWRG
Earnings call transcript
2023 Q2
1 Aug 23
FWRG
Earnings call transcript
2023 Q1
2 May 23
FWRG
Earnings call transcript
2023 Q1
2 May 23
FWRG
Earnings call transcript
2022 Q4
7 Mar 23
FWRG
Earnings call transcript
2022 Q3
7 Nov 22
FWRG
Earnings call transcript
2022 Q2
9 Aug 22
FWRG
Earnings call transcript
2022 Q1
10 May 22
FWRG
Earnings call transcript
2021 Q4
23 Mar 22
Latest ownership filings
4
William A Kussell
23 Apr 24
144
Notice of proposed sale of securities
22 Apr 24
4
Jay Anthony Wolszczak
18 Mar 24
144
Notice of proposed sale of securities
15 Mar 24
4
Matthew Eisenacher
15 Mar 24
4
Tricia Glynn
14 Mar 24
4
David Paresky
14 Mar 24
4
Change in insider ownership
14 Mar 24
4
Change in insider ownership
14 Mar 24
4
Change in insider ownership
14 Mar 24
Financial summary
Quarter (USD) | Sep 23 | Jun 23 | Mar 23 | Dec 22 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 22 | Dec 21 | |
---|---|---|---|
Revenue | |||
Cost of revenue | |||
Operating income | |||
Operating margin | |||
Net income | |||
Net profit margin | |||
Cash on hand | |||
Change in cash | |||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 40.25 mm | 40.25 mm | 40.25 mm | 40.25 mm | 40.25 mm | 40.25 mm |
Cash burn (monthly) | 8.95 mm | 781.08 k | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 63.04 mm | 5.50 mm | n/a | n/a | n/a | n/a |
Cash remaining | -22.79 mm | 34.75 mm | n/a | n/a | n/a | n/a |
Runway (months of cash) | -2.5 | 44.5 | n/a | n/a | n/a | n/a |
Institutional ownership, Q2 2023
94.2% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 111 |
Opened positions | 32 |
Closed positions | 16 |
Increased positions | 48 |
Reduced positions | 18 |
13F shares | Current |
---|---|
Total value | 951.51 bn |
Total shares | 56.88 mm |
Total puts | 17.80 k |
Total calls | 21.30 k |
Total put/call ratio | 0.8 |
Largest owners | Shares | Value |
---|---|---|
Advent International | 34.54 mm | $583.72 bn |
FHI Federated Hermes Inc - Ordinary Shares | 1.78 mm | $30.09 bn |
Brown Advisory | 1.43 mm | $24.25 bn |
Manufacturers Life Insurance Company, The | 1.23 mm | $20.74 bn |
Vanguard | 1.05 mm | $17.72 bn |
BLK Blackrock | 967.73 k | $16.35 bn |
Citadel Advisors | 933.01 k | $15.77 bn |
Neuberger Berman | 892.92 k | $15.09 bn |
Granahan Investment Management | 789.94 k | $13.35 bn |
Gilder Gagnon Howe & Co | 773.09 k | $13.07 bn |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
22 Apr 24 | William A Kussell | Common Stock | Sell | Dispose S | No | Yes | 22.1 | 5,590 | 123.54 k | 12,409 |
22 Apr 24 | William A Kussell | Common Stock | Sell | Dispose S | No | Yes | 22.11 | 2,796 | 61.82 k | 17,999 |
15 Mar 24 | Jay Anthony Wolszczak | Common Stock | Sell | Dispose S | No | No | 24.29 | 15,000 | 364.35 k | 43,511 |
15 Mar 24 | Jay Anthony Wolszczak | Common Stock | Option exercise | Acquire M | No | No | 8.45 | 15,000 | 126.75 k | 58,511 |
15 Mar 24 | Jay Anthony Wolszczak | Stock Option Common Stock | Option exercise | Dispose M | No | No | 8.45 | 15,000 | 126.75 k | 162,570 |
14 Mar 24 | Matthew Eisenacher | Common Stock | Sell | Dispose S | No | No | 24.28 | 3,770 | 91.54 k | 30,906 |
12 Mar 24 | Advent International | Common Stock | Sell | Dispose S | Yes | No | 23.99 | 6,900,000 | 165.53 mm | 27,189,784 |
12 Mar 24 | Advent International | Common Stock | Sell | Dispose S | Yes | No | 23.99 | 6,900,000 | 165.53 mm | 27,189,784 |
News
TD Cowen Reiterates Hold on First Watch Restaurant Gr, Maintains $26 Price Target
12 Apr 24
TD Cowen Reiterates Hold on First Watch Restaurant Gr, Maintains $26 Price Target
11 Apr 24
6 Analysts Assess First Watch Restaurant Gr: What You Need To Know
10 Apr 24
TD Cowen Reiterates Hold on First Watch Restaurant Gr, Maintains $26 Price Target
10 Apr 24
First Watch Restaurant Reports Launch Of Secondary Offering Of 6M Shares By Certain Funds Managed By Advent International, L.P.
7 Mar 24
Press releases
First Watch Restaurant Group, Inc. to Report First Quarter 2024 Financial Results on May 7, 2024
23 Apr 24
First Watch Acquires 21 Franchise Restaurants in North Carolina
15 Apr 24
First Watch Restaurant Group, Inc. Announces Secondary Offering of Common Stock
7 Mar 24
First Watch Co-Founder, Longtime CEO and Former Chairman Ken Pendery Passes Away at 70
5 Mar 24
First Watch Restaurant Group, Inc. Reports Strong 2023 Financial Results and Provides 2024 Outlook
5 Mar 24