European Wax Center (EWCZ) Q1 2026 earnings summary

Executive summary

• Delivered approximately 23 million waxing services in both 2025 and 2024, with system-wide sales of $228.9 million for the quarter, up 1.3% year-over-year.

• Operated 1,044 centers at quarter-end, with a net decrease of 3 centers during the period.

• Completed a merger on May 8, 2026, resulting in a cash-out transaction for shareholders at $5.80 per Class A share.

Financial highlights

• Total revenue for the quarter was $51.1 million, down 0.6% from $51.4 million year-over-year.

• Net income attributable to the company was $0.96 million, a 44.7% decrease from $1.74 million in the prior year.

• EBITDA was $14.6 million and Adjusted EBITDA was $17.4 million, both down from the prior year.

• Cash and cash equivalents stood at $71.7 million as of April 4, 2026.

Outlook and guidance

• Management expects continued focus on improving existing center productivity and unit economics, with thoughtful center growth in the future.

• Liquidity and capital resources are expected to be sufficient for at least the next twelve months.