European Wax Center Q1 net loss $1.1M; same-store sales up 4.5%, reiterates FY2023 outlook

European Wax Center, Inc.

Net loss $1.1M vs net income $4.0M prior year; adjusted net income $3.4M vs $8.6M.
Total revenue $49.9M (+9.8% YoY); system-wide sales $218.4M (+5.5%).
Opened 34 net new centers, ending with 978 centers (11.9% YoY increase).
Same-store sales increased 4.5%; adjusted EBITDA $16.3M (+7.5% YoY).
Reiterated FY2023 outlook: 95-100 net new centers, total revenue $222M-$229M, adj. EBITDA $77M-$80M.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

European Wax Center, Inc. reported the 13 weeks ended April 1, 2023 results: revenue $49.9 million, net income $1.1 million. Guidance reaffirmed.

Period: the 13 weeks ended April 1, 2023
Revenue: $49.9 million
Net income: $1.1 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

• Net new centers increased 11.9% to 978 total centers in 45 states • System-wide sales of $218.4 million increased 5.5% • Total revenue of $49.9 million increased 9.8% • Same-store sales increased 4.5% • GAAP net loss of $1.1 million and Adjusted EBITDA of $16.3 million

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Source: SEC EDGAR

accession 0000950170-23-019997

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