Net Income (Loss) per Share (Tables)

9 Months Ended

Sep. 24, 2022

European Wax Center, Inc. and Subsidiaries

Schedule of Computation of Basic Net Income (Loss) Per Share

The following table sets forth the computation of basic net income (loss) per share of Class A common stock for the 13 and 39 weeks ended September 24, 2022 and the period from August 4, 2021 to September 25, 2021, which represents the period subsequent to the Reorganization Transactions:

	13 Weeks Ended		39 Weeks Ended		Period of August 4-
	September 24, 2022		September 24, 2022		September 25, 2021
(in thousands, except for share and per share amounts)
Net income (loss)	$	5,287	$	11,344	$	(10,768	)
Less: net income (loss) attributable to noncontrolling interests		1,773		4,735		(5,237	)
Net income (loss) applicable to Class A common shareholders	$	3,514	$	6,609	$	(5,531	)
Basic weighted average outstanding shares
Class A Common Stock		39,849,170		38,238,114		31,370,186
Basic net income (loss) per share applicable to common shareholders:
Class A Common Stock	$	0.09	$	0.17	$	(0.18	)

The following table sets forth the computation of diluted net income (loss) per share of Class A common stock for the 13 and 39 weeks ended September 24, 2022 and the period from August 4, 2021 to September 25, 2021, which represents the period subsequent to the Reorganization Transactions:

	13 Weeks Ended		39 Weeks Ended		Period of August 4-
	September 24, 2022		September 24, 2022		September 25, 2021
(in thousands, except for share and per share amounts)
Net income (loss)	$	5,287	$	11,344	$	(10,768	)
Less: net income (loss) attributable to noncontrolling interests		—		4,722		(5,237	)
Net income (loss) applicable to Class A common shareholders	$	5,287	$	6,622	$	(5,531	)
Diluted weighted average outstanding shares
Basic weighted average outstanding shares - Class A Common Stock		39,849,170		38,238,114		31,370,186
Effect of dilutive securities:
Class B Common Stock		22,892,289		—		—
RSUs		107,798		167,122		—
Options		—		21,732		—
Diluted weighted average outstanding shares - Class A Common Stock		62,849,257		38,426,968		31,370,186
Diluted net income (loss) per share applicable to common shareholders:
Class A Common Stock	$	0.08	$	0.17	$	(0.18	)