First Watch Restaurant Group, Inc.
For the period ended Dec 28, 2025. Filed Feb 24, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 24, 2026
FWRG$13.44-3.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets - December 2, 202 and December
CONSOLIDATED BALANCE SHEETS
| DECEMBER 28, 2025 | DECEMBER 29, 2024 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $21,246 | $33,312 |
| Accounts receivable | 6,859 | 7,235 |
| Inventory | 7,174 | 6,117 |
| Prepaid expenses | 7,945 | 7,008 |
| Deposits and other current assets | 5,856 | 2,204 |
| Total current assets | 49,080 | 55,876 |
| Goodwill | 420,208 | 398,565 |
| Intangible assets, net | 174,908 | 167,596 |
| Operating lease right-of-use assets | 614,548 | 527,674 |
| Property, fixtures and equipment, net of accumulated depreciation of $285,706 and $229,227, respectively | 478,451 | 361,394 |
| Other long-term assets | 4,834 | 3,251 |
| Total assets | $1,742,029 | $1,514,356 |
| Liabilities and Equity | ||
| Current liabilities: | ||
| Accounts payable | $8,701 | $6,961 |
| Accrued liabilities | 38,496 | 39,607 |
| Accrued compensation | 24,281 | 21,244 |
| Deferred revenues | 6,778 | 5,623 |
| Current portion of operating lease liabilities | 75,034 | 55,704 |
| Current portion of long-term debt | 13,309 | 9,228 |
| Interest rate swap liabilities, current | 900 | 105 |
| Total current liabilities | 167,499 | 138,472 |
| Operating lease liabilities | 651,254 | 555,576 |
| Long-term debt, net | 269,071 | 189,043 |
| Deferred income taxes | 21,972 | 32,218 |
| Derivative liabilities | 557 | 503 |
| Other long-term liabilities | 5,397 | 3,155 |
| Total liabilities | 1,115,750 | 918,967 |
| Commitments and contingencies (Note 18) | ||
| Equity: | ||
| Preferred stock; $0.01 par value; 10,000,000 shares authorized; none issued and outstanding | — | — |
| Common stock; $0.01 par value; 300,000,000 shares authorized; 61,131,978 and 60,700,090 shares issued and outstanding at December 28, 2025 and December 29, 2024, respectively | 611 | 607 |
| Additional paid-in capital | 661,153 | 649,045 |
| Accumulated deficit | (34,390) | (53,822) |
| Accumulated other comprehensive loss | (1,095) | (441) |
| Total equity | 626,279 | 595,389 |
| Total liabilities and equity | $1,742,029 | $1,514,356 |
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