Mister Car Wash Reports 9% Revenue Growth to $261.7 Million in Q1 2025

Mister Car Wash, Inc. reported a significant increase in financial performance for the first quarter of 2025, with net revenues reaching $261.7 million, a 9% increase from $239.2 million in the same period last year. The company’s net income also rose to $27 million, compared to $16.6 million in the prior year, resulting in an improved net income margin of 10.3%, up from 7.0%. The growth in revenue was primarily driven by an increase in Unlimited Wash Club (UWC) membership, higher retail customer traffic, and the addition of 36 new locations over the past year.

In terms of operational metrics, Mister Car Wash reported a total of 518 locations as of March 31, 2025, up from 482 a year earlier. The number of UWC members increased to approximately 2.2 million, reflecting a 5% growth since the end of 2024. The company’s comparable store sales grew by 6.0%, indicating strong performance across existing locations. The UWC sales accounted for 73% of total wash sales, slightly down from 74% in the previous year, highlighting the program's continued importance to the company's revenue model.

Mister Car Wash's cost structure showed some changes, with total costs and expenses increasing to $208.7 million from $196.6 million. The cost of labor and chemicals rose by 4% to $74.3 million, attributed to increased volume and higher store labor rates, although this was partially offset by lower chemical costs due to new formulations. Other store operating expenses surged by 13% to $109.7 million, driven by the addition of new locations and increased utility and maintenance costs. General and administrative expenses decreased by 17% to $24.7 million, primarily due to lower debt refinancing costs compared to the previous year.

Looking ahead, Mister Car Wash remains focused on expanding its footprint through greenfield development and acquisitions, while also optimizing its existing operations. The company believes that its growth strategy, which includes increasing UWC membership and enhancing customer engagement, will continue to drive revenue growth. As of March 31, 2025, the company had cash and cash equivalents of $39.3 million and maintained a strong liquidity position with $299.8 million available under its revolving credit facility. The management expressed confidence in the company’s ability to finance its growth initiatives and meet its operational needs over the next 12 months.