Solid First Quarter Results
European Wax Center delivered $225.9 million in system-wide sales, 70 basis points of positive same-store sales growth, and $18.8 million in adjusted EBITDA.
Same-Store Sales Growth
Same-store sales grew by 70 basis points. Adjusting for the Easter shift, it was approximately flat, indicating stabilization.
Improved Marketing Efficiency
New technology has improved the efficiency of paid media dollars, lowering cost per acquisition and showing early signs of traction with new guests.
Strong Cash Flow and Balance Sheet
Net cash provided by operating activities was $12.7 million with a strong free cash flow profile, maintaining a healthy balance sheet and a net leverage ratio of 4.3x.