European Wax Center Files Q3 2024 10-Q

TL;DR

EWZ 10-Q filed: Q3 2024 financials out, stock plan details included.

AI Summary

European Wax Center, Inc. filed its 10-Q for the period ending October 5, 2024. The filing details financial information, including share-based payment arrangements and stock options under "The 2021 Incentive Plan." Key dates mentioned include September 30, 2023, and October 5, 2024, with financial data presented for fiscal years and quarters.

Why It Matters

This filing provides investors with the latest financial performance and operational details for European Wax Center, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 2024-10-05 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-11-15 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• European Wax Center, Inc. (company) — Filer of the 10-Q
• October 5, 2024 (date) — End of the reporting period
• The 2021 Incentive Plan (plan) — Mentioned in relation to share-based payments
• September 30, 2023 (date) — Comparative financial reporting date

FAQ

Key Financial Figures

• $0.00001 — tered Class A common stock, par value $0.00001 per share EWCZ The Nasdaq Stock Mar

Filing Documents

• ewcz-20241005.htm (10-Q) — 2742KB
• ewcz-ex31_1.htm (EX-31.1) — 16KB
• ewcz-ex31_2.htm (EX-31.2) — 16KB
• ewcz-ex32_1.htm (EX-32.1) — 9KB
• ewcz-ex32_2.htm (EX-32.2) — 9KB
• 0000950170-24-127256.txt ( ) — 11650KB
• ewcz-20241005.xsd (EX-101.SCH) — 1471KB
• ewcz-20241005_htm.xml (XML) — 2592KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets as of October 5, 2024 and January 6, 2024 1 Condensed Consolidated Statements of Operations for the 13 and 39 weeks ended October 5, 2024 and September 30, 2023 2 Condensed Consolidated Statements of Cash Flows for the 39 weeks ended October 5, 2024 and September 30, 2023 3 Condensed Consolidated Statements of Stockholders' Equity for the 13 and 39 weeks ended October 5, 2024 and September 30, 2023 4 Notes to Unaudited Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 31 PART II. OTHER INFORMATION 33 Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 3. Defaults Upon Senior Securities 34 Item 4. Mine Safety Disclosures 34 Item 5. Other Information 34 Item 6. Exhibits 35

-FINANCIAL INFORMATION

PART I-FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements EUROPEAN WAX CENTER, INC. and Subsidiaries Condensed Consolidat ed Balance Sheets (Amounts in thousands, except share and per share amounts) (Unaudited) October 5, 2024 January 6, 2024 ASSETS Current assets: Cash and cash equivalents $ 48,017 $ 52,735 Restricted cash 6,487 6,493 Accounts receivable, net 7,139 9,250 Inventory, net 20,570 20,767 Prepaid expenses and other current assets 5,239 6,252 Total current assets 87,452 95,497 Property and equipment, net 1,563 2,284 Operating lease right-of-use assets 3,591 4,012 Intangible assets, net 436,994 451,495 Goodwill 39,112 39,112 Deferred income taxes 137,003 138,623 Other non-current assets 2,250 3,094 Total assets $ 707,965 $ 734,117 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $ 15,545 $ 17,966 Long-term debt, current portion 4,000 4,000 Tax receivable agreement liability, current portion 2,807 9,363 Deferred revenue, current portion 3,952 5,261 Operating lease liabilities, current portion 1,283 1,232 Total current liabilities 27,587 37,822 Long-term debt, net 372,913 372,000 Tax receivable agreement liability, net of current portion 198,461 197,273 Deferred revenue, net of current portion 6,054 6,615 Operating lease liabilities, net of current portion 2,606 3,158 Other long-term liabilities 2,444 2,246 Total liabilities 610,065 619,114 Commitments and contingencies (Note 7) Stockholders' equity: Preferred stock ($ 0.00001 par value, 100,000,000 shares authorized, none issued and outstanding as of October 5, 2024 and January 6, 2024, respectively) — — Class A common stock ($ 0.00001 par value, 600,000,000 shares authorized, 51,508,038 and 51,261,001 shares issued and 44,747,397 and 48,476,981 shares outstanding as of October 5, 2024 and Januar

View Full Filing

View this 10-Q filing on SEC EDGAR