European Wax issued a press release on August 14, 2024, reporting its financial results for the second quarter of its fiscal year. Among other items, European Wax lowered its 2024 revenue forecast to a range of $216 million to $221 million, compared to prior guidance of $225 million to $232 million, and lowered its net income forecast to a range of $19 million to $22 million, compared to prior guidance of $22 million to $25 million.

Following this news, European Wax’s stock price fell sharply during intraday trading on the same day.