European Wax Center Reports 4.7% Revenue Decline, to Go Private in All-Cash Deal
European Wax Center’s Fiscal 2025 system-wide sales dipped 0.4% to $947.3 million and total revenue fell 4.7% to $206.6 million, while net income declined 19.2% to $11.9 million. The company repurchased $5.7 million of Class A shares and agreed to an all-cash take-private transaction by General Atlantic, ending public listing.
1. Fiscal Year 2025 Performance
European Wax Center ended fiscal 2025 with system-wide sales of $947.3 million, a 0.4% decrease year-over-year, and total revenue of $206.6 million, down 4.7%. Same-store sales rose 0.2%, while GAAP net income fell 19.2% to $11.9 million and Adjusted EBITDA slipped 3.0% to $73.3 million.
2. Fourth Quarter Results
In Q4, system-wide sales totaled $225.6 million, down 1.6%, and revenue declined 9.3% to $45.1 million with same-store sales down 0.1%. The company recorded a net loss of $1.5 million, versus $3.1 million net income last year, and Adjusted EBITDA dropped 33.1% to $12.7 million.
3. Share Repurchase Activity
During the year, approximately 1.4 million Class A shares were repurchased for $5.7 million, bringing cumulative buybacks to $45.9 million under the existing $50 million authorization.
4. Take-Private Transaction
European Wax Center entered a definitive agreement for an all-cash take-private by General Atlantic, after which Class A common stock will cease public trading. In light of the transaction, the company will not provide fiscal 2026 guidance or host a conference call.