FWRG Q1 2023 Earnings — First Watch Restaurant Group, Inc. Revenue & Financial Results | Market Cap Arena

FWRGFirst Watch Restaurant Group, Inc.

$767M

Q1 2023 Earnings

Consumer Cyclical Restaurants

Income Statement

Revenue

$211M+22.1% YoY

Gross Profit

$48M22.5% margin

Operating Income

$15M7.3% margin

Net Income

$9M4.4% margin

EPS (Diluted)

$0.15

QoQ Revenue Growth

+13.8%

Cash Flow

Operating Cash Flow

$21M

Free Cash Flow

$7M

Stock-Based Comp.

$1M

Balance Sheet

Total Assets

$1.1B

Total Liabilities

$580M

Stockholders' Equity

$535M

Cash & Equivalents

$54M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$211M	$173M	+22.1%
Gross Profit	$48M	$36M	+32.5%
Operating Income	$15M	$8M	+97.6%
Net Income	$9M	$5M	+101.7%

Revenue Segments

Franchisor Owned Outlet

$208M49%

In-Restaurant Dining Sales

$169M40%

Third-Party Delivery Sales

$22M5%

Take-Out Sales

$16M4%

Franchise

$3M1%

Royalty And System Fund Contributions

$3M1%

Initial Fees

$77,0000%