Mister Car Wash (NYSE:MCW) reported fourth-quarter 2025 net revenues of $261.2 million, an increase of 4% from the prior-year period, driven primarily by higher Unlimited Wash Club (UWC) membership fees and improved per-wash metrics.
Full-year net revenues surpassed $1.05 billion, supported by organic same-store sales growth, new location openings, and the continued strength of the subscription-based UWC model.
UWC memberships grew 7% year over year to approximately 2.3 million by year-end, underscoring the stickiness of the recurring revenue stream and consumer preference for unlimited washing plans.
The company ended 2025 with 548 locations, reflecting disciplined expansion in both greenfield developments and select acquisitions.
Adjusted EBITDA for the fourth quarter totaled $86 million, demonstrating solid operating leverage despite ongoing investments in labor, marketing, and facility maintenance.
The company maintained a strong liquidity position, closing the year with $28.5 million in cash and cash equivalents.
Additionally, Mister Car Wash completed sale-leaseback transactions, generating $48.4 million in proceeds during 2025, providing capital for growth initiatives and debt management.