← First Watch Restaurant Group, Inc.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Net Income (Loss) Attributable to Parent | — | ($49.7m) |
($2.1m)
+95.76%
|
$6.9m
+427.81%
|
$25.4m
+267.53%
|
$18.9m
-25.45%
|
$19.4m
+2.68%
|
|
| Net Income (Loss) Available to Common Stockholders, Basic | — | ($49.7m) |
($2.1m)
+95.76%
|
$6.9m
+427.81%
|
$25.4m
+267.53%
|
$18.9m
-25.45%
|
$19.4m
+2.68%
|
|
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | ($49.7m) | ($2.1m) | — | — | — | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | $0 | $0 | — | — | — | — | |
| Depreciation and amortization | $28.0m | $30.7m | $32.4m | $34.2m | $41.2m | $57.7m | $75.0m | |
| Depreciation, Depletion and Amortization, Nonproduction | — | $30.7m | $32.4m | $34.2m | $41.2m | $57.7m | $75.0m | |
| Amortization of Debt Issuance Costs and Discounts | — | $1.3m | $1.1m | $445k | $452k | $567k | $664k | |
| Amortization of Intangible Assets | — | $1.1m | $1.0m | $1.0m | $1.5m | $5.6m | $8.5m | |
| Depreciation | $28.0m | $29.6m | $31.3m | $33.3m | $39.7m | $52.1m | $66.5m | |
| Amortization of debt discount and deferred issuance costs | $1.1m | $1.3m | $1.1m | $445k | $452k | $567k | $664k | |
| Deferred Income Tax Expense (Benefit) | — | ($20.0m) | $2.2m | $4.7m | $8.3m | $6.8m | ($10.0m) | |
| Deferred income taxes | ($12.6m) | ($20.0m) | $2.2m | $4.7m | $8.3m | $6.8m | ($10.0m) | |
| Accrued compensation and deferred payroll taxes | $643k | $2.9m | $7.0m | ($3.3m) | $3.8m | ($467k) | $3.0m | |
| Share-based Payment Arrangement, Noncash Expense | — | — | — | $10.4m | $7.6m | $8.5m | $10.8m | |
| Share-based Payment Arrangement, Expense | — | $750k | $8.6m | $10.4m | $7.6m | $8.5m | $10.8m | |
| Stock-based compensation, net of amounts capitalized | — | $750k | $8.6m | $10.4m | $7.6m | $8.5m | $10.8m | |
| Gain (Loss) on Sale of Assets and Asset Impairment Charges | — | ($315k) | ($381k) | ($920k) | ($1.4m) | ($525k) | ($448k) | |
| Impairment of Intangible Assets, Finite-lived | — | — | — | — | $0 | $0 | $0 | |
| Impairments and loss on disposal of assets | $33.6m | $315k | $381k | $920k | $1.4m | $525k | $448k | |
| Nonoperating Income (Expense) | — | $483k | ($1.8m) | $910k | $2.9m | $1.8m | $1.3m | |
| Changes in operating assets and liabilities: | ||||||||
| Increase (Decrease) in Accounts Receivable | — | ($1.8m) | $535k | $1.7m | ($632k) | $1.7m | ($376k) | |
| Accounts receivable | ($3.2m) | $1.8m | ($535k) | ($1.7m) | $632k | ($1.7m) | $376k | |
| Increase (Decrease) in Inventories | — | $203k | $1.1m | $1.0m | $62k | $508k | $867k | |
| Inventory | ($439k) | ($203k) | ($1.1m) | ($1.0m) | ($62k) | ($508k) | ($867k) | |
| Increase (Decrease) in Accounts Payable | — | ($866k) | $6.7m | ($3.5m) | ($1.3m) | $637k | $1.7m | |
| Accounts payable | ($740k) | ($866k) | $6.7m | ($3.5m) | ($1.3m) | $637k | $1.7m | |
| Accrued capital expenditures | — | $26.7m | $35.3m | $62.2m | $84.5m | $127.9m | $156.9m | |
| Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims | — | $1.3m | $1.4m | $1.5m | $2.3m | $3.9m | $6.3m | |
| Accrued liabilities and other long-term liabilities | $5.6m | ($3.7m) | $5.3m | $4.7m | $6.1m | $2.6m | $6.6m | |
| Deferred revenues, current and long-term | $2.0m | ($3.1m) | $648k | $719k | ($657k) | ($136k) | $555k | |
| Increase (Decrease) in Other Operating Assets | — | $446k | ($169k) | ($1.1m) | $2.3m | ($111k) | $5.7m | |
| Increase (Decrease) in Other Operating Liabilities | — | — | — | — | — | ($259k) | $0 | |
| Deposits and other assets, current and long-term | ($1.1m) | ($446k) | $169k | $1.1m | ($2.3m) | $111k | ($5.7m) | |
| Other liabilities | ($458k) | $0 | $695k | ($309k) | ($368k) | ($259k) | $0 | |
| Net Cash Provided by (Used in) Operating Activities | $21.5m |
($18.4m)
-185.55%
|
$63.0m
+442.90%
|
$62.9m
-0.05%
|
$95.3m
+51.48%
|
$115.7m
+21.33%
|
$125.9m
+8.85%
|
|
| Cash flows from investing activities: | ||||||||
| Payments to Acquire Property, Plant, and Equipment | ($59.2m) | $26.7m | $35.3m | $62.2m | $84.5m | $127.9m | $156.9m | |
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $210k | ($300k) | ($400k) | ($900k) | ($800k) | ($500k) | ($400k) | |
| Gain (Loss) on Disposition of Property Plant Equipment | $210k | $36k | ($2k) | ($391k) | $73k | ($13k) | ($49k) | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | $0 | $0 | — | $39.9m | $78.6m | $56.0m | |
| Acquisitions, net of cash acquired | ($22.8m) | $0 | $0 | $0 | $39.9m | ($78.6m) | ($56.0m) | |
| Net Cash Provided by (Used in) Investing Activities | ($82.4m) | ($27.0m) | ($35.7m) | ($63.1m) | ($123.4m) | ($206.7m) | ($213.8m) | |
| Cash flows from financing activities: | ||||||||
| Gain (Loss) on Extinguishment of Debt | — | $0 | ($2.4m) | $0 | $0 | ($358k) | — | |
| Non-cash loss on extinguishments and modifications of debt | — | $0 | ($961k) | ($83k) | ($123k) | $358k | $0 | |
| Proceeds from borrowings on revolving credit facility | $42.0m | $22.0m | $0 | $0 | $30.0m | $22.5m | $443.5m | |
| Repayments of borrowings on revolving credit facility | ($32.5m) | ($39.0m) | $0 | $0 | $0 | ($52.5m) | ($387.5m) | |
| Proceeds from issuance of long-term debt | $50.0m | $54.6m | $100.0m | $0 | $0 | $197.5m | $27.5m | |
| Repayments of long-term debt, including finance lease liabilities | ($2.6m) | ($4.3m) | ($291.6m) | ($2.4m) | ($6.2m) | ($96.8m) | ($8.9m) | |
| Payment of debt discount and deferred issuance costs | ($915k) | $0 | ($2.2m) | $0 | $0 | ($2.4m) | $0 | |
| Proceeds from Issuance of Common Stock | — | $0 | $182.1m | $0 | $0 | — | — | |
| Net Cash Provided by (Used in) Financing Activities | — | $73.3m |
($14.3m)
-119.47%
|
($2.0m)
+85.86%
|
$28.1m
+1490.98%
|
$74.3m
+164.81%
|
$75.8m
+1.96%
|
|
| Net (decrease) increase in cash and cash equivalents | ($5.2m) | $28.0m | $13.0m | ($2.2m) | $38k | ($16.6m) | ($12.1m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | $28.0m | $13.0m | ($2.2m) | $38k | ($16.6m) | ($12.1m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | $39.1m | $52.1m | $49.9m | $50.0m | $33.3m | — | |
| Additional Supplementary Disclosures | ||||||||
| Additional Supplementary Disclosures | ||||||||
| Additional Supplementary Disclosures | ||||||||
| Proceeds from Stock Options Exercised | — | — | — | $1.4m | $5.8m | $6.4m | $1.2m | |
| Supplemental disclosure of cash flow information: | ||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $18.9m | $19.8m | $16.2m | $3.4m | $8.7m | $12.3m | $15.5m | |
| Income Taxes Paid, Net | $152k | $163k | $79k | $915k | $2.0m | $3.1m | $2.6m | |
| Additional Financial Items | ||||||||
| Gain (Loss) on Termination of Lease | — | $0 | $0 | — | — | — | — | |
| General and Administrative Expense | — | $46.3m | $70.4m | $85.0m | $103.1m | $113.3m | $128.9m | |
| Goodwill | — | $345.2m | $345.2m | $345.2m | $359.9m | $398.6m | $420.2m | |
| Income Tax Expense (Benefit) | — | ($19.9m) | $2.5m | $5.7m | $10.7m | $9.1m | ($7.3m) | |
| Interest Expense Nonoperating | — | — | — | — | — | $12.6m | $16.7m | |
| Prepaid expenses | ($439k) | $619k | ($3.2m) | ($123k) | ($1.7m) | $509k | ($868k) | |
| Operating lease liabilities | $3.1m | $8.1m | ($9.8m) | ($7.0m) | ($11.4m) | ($5.1m) | ($8.1m) | |
| Purchase of intangible assets | $0 | ($225k) | ($371k) | ($1.1m) | ($161k) | ($100k) | ($850k) | |
| Contingent consideration payment | ($225k) | $0 | ($9k) | ($78k) | ($198k) | ($375k) | $0 | |
| Repayment of notes payable | $0 | $0 | ($522k) | ($2.9m) | ($1.4m) | $0 | $0 | |
| Beginning of period | — | — | — | $52.1m | $49.9m | $50.0m | $21.2m | |
| Leased assets obtained in exchange for new operating lease liabilities | $70.4m | $21.3m | $33.9m | $46.0m | $88.8m | $129.1m | $114.9m | |
| Leased assets obtained in exchange for new finance lease liabilities | $2.7m | $277k | $217k | $127k | $249k | $2.1m | $9.8m | |
| Remeasurements and terminations of operating lease assets and lease liabilities | ($3.3m) | ($711k) | ($41k) | ($2.6m) | ($898k) | $5.8m | $4.8m | |
| Remeasurements and terminations of finance lease assets and lease liabilities | $0 | $164k | $6k | ($197k) | ($48k) | $86k | ($575k) |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.