MergerMay 13, 2026, 01:06 PM
European Wax Center Completes Merger; Q1 Net Income $1.61M
AI Summary
European Wax Center, Inc. announced the completion of its merger with Glow Midco, LLC, an affiliate of General Atlantic, on May 8, 2026. As part of the transaction, each share of Class A common stock was converted into the right to receive $5.80 in cash. For the thirteen weeks ended April 4, 2026, the company reported a net income of $1.61 million, a decrease from $2.57 million in the prior year, with total revenue also slightly down at $51.13 million.
Key Highlights
- European Wax Center completed its merger with Glow Midco, LLC on May 8, 2026.
- Each Class A common stock share was converted into the right to receive $5.80 in cash.
- Net income for the 13 weeks ended April 4, 2026, was $1.61 million, down from $2.57 million year-over-year.
- Total revenue for the quarter was $51.13 million, a slight decrease from $51.43 million year-over-year.
- Diluted EPS for Class A Common Stock was $0.03, compared to $0.04 in the prior year period.
- Income from operations decreased to $9.16 million from $10.58 million year-over-year.
- Net cash provided by operating activities was $0.62 million, a significant decrease from $12.71 million year-over-year.
- Total assets were $723.54 million as of April 4, 2026, down from $725.26 million on January 3, 2026.