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EUROPEAN WAX CENTER European Wax Center , Inc. Reports Record Third Quarter Fiscal 2021 Results and Increases Fiscal 2021 Outlook November 4 , 2021 • System - wide sales of $ 219.1 million increased 60.0 % and 21.3 % from the third quarters of fiscal 2020 and 2019 , respectively • Same - store sales rose 10.6 % from the third quarter of fiscal 2019 , accelerating 3.7 percentage points from the second quarter of fiscal 2021 • Total revenue of $ 49.0 million increased 61.0 % and 20.4 % from the third quarters of fiscal 2020 and 2019 , respectively • GAAP net loss was $ 9.3 million versus a net loss of $ 6.5 million and net income of $ 2.3 million in the third quarters of fiscal 2020 and 2019 , respectively ● Adjusted net income was $ 8.5 million versus an Adjusted net loss of ( $ 6.0 million ) and Adjusted net income of $ 3.7 million in the third quarters of fiscal 2020 and 2019 , respectively • Adjusted EBITDA of $ 16.5 million increased 352.6 % and 39.3 % from the third quarters of fiscal 2020 and 2019 , respectively • Raises fiscal 2021 outlook for net new center openings , system - wide sales , total revenue , Adjusted net income and Adjusted EBITDA DALLAS , Nov. 04 , 2021 ( GLOBE NEWSWIRE ) -- Today , European Wax Center , Inc. ( NASDAQ : EWCZ ) , a leading personal care franchise brand founded in 2004 , reports financial results for the 13 and 39 weeks ended September 25 , 2021 compared to September 26 , 2020. Due the impact of COVID - 19 on fiscal 2020 , results are also compared to the 13 and 39 weeks ended September 28 , 2019 . David Berg , Chief Executive Officer of European Wax Center , Inc. , stated : " We delivered strong third quarter results , marking significant progress toward our goals and highlighted by double - digit growth in revenue , same store sales and operating profit as compared to the third quarter of fiscal years 2020 and 2019. On a two - year basis , our robust 21 % increase in system - wide sales was driven by net new center openings , a double - digit increase in same store sales , and strong Wax Pass purchases . The expansion of our Wax Pass program benefitted from both new customer acquisition and increased visits from existing guests during the quarter . We continue to make it easier for our guests to engage with us and expect our efforts to lead to increased center productivity over time . We also progressed our new center expansion strategy with franchise operators opening 18 net new centers in the third quarter of fiscal 2021 and 47 net new centers since the third quarter of 2020. Our ability to drive revenue growth combined with expense discipline enabled us to deliver Adjusted EBITDA growth of 39 % compared to the third quarter of fiscal 2019. I continue to be proud of our associates and wax specialists for contributing to our robust performance in this dynamic environment . " " We remain positive about our outlook as we enter the final quarter of the year , and we are raising our expectations for fiscal 2021 top- and bottom - line performance while also increasing our target for net new center openings to 57 from 52. We feel great about the sequential growth of our business , which includes fourth quarter same store sales acceleration . Our outlook is consistent with the recurring , profitable growth inherent in our business model , " Mr. Berg continued . " Looking ahead , we see a significant long - term opportunity to deepen our connection with guests , grow attachment rates and drive frequency while further building awareness for European Wax Center . We are confident that the execution of this strategy , along with unit expansion and leveraging our asset - light business model , will enable us to continue empowering our guests to feel great about themselves while unlocking value for all EWC stakeholders . " ( Dollars in $ 000's ) Total Revenue Net ( Loss ) / Income Adjusted Net Income / ( Loss ) Adjusted EBITDA System - Wide Sales Third Quarter Fiscal 2021 Results Results for the Third Quarter of Fiscal 2021 , 2020 , and 2019 $ $ $ $ $ Q3 2021 49,011 ( 9,272 ) 8,494 16,546 219,117 $ $ $ $ $ Q3 2020 30,450 ( 6,543 ) ( 6,015 ) 3,656 136,927 $ $ $ $ $ Q3 2019 40,698 2,250 3,747 11,875 180,592 Percent Change 2021 vs 2020 61.0 % -41.7 % 241.2 % 352.6 % 60.0 % Percent Change 2021 vs 2019 20.4 % -512.1 % 126.7 % 39.3 % 21.3 % • We added 18 net new centers and ended the third quarter of fiscal 2021 with 833 centers , representing an increase of 6.0 % since the third quarter of fiscal 2020 and 12.4 % since the third quarter of fiscal 2019 . • System - wide sales were $ 219.1 million across the network of 833 locations , an increase of 60.0 % from $ 136.9 million in the third quarter of fiscal 2020 and up 21.3 % from $ 180.6 million in the third quarter of fiscal 2019. The increase versus fiscal 2019 reflects net new center openings and increased spend by guests at existing centers . • Same - store sales increased 10.6 % compared to fiscal 2019 .