Xponential Fitness, Inc. Announces Strong Third Quarter 2024 Financial Results

Xponential Fitness, Inc., a global franchisor of boutique health and wellness brands (NYSE: XPOF), declared its financial outcomes for the third quarter ending September 30, 2024. The company reported system-wide sales of $431.2 million in Q3 2024, marking a significant 21% increase year-over-year. Additionally, the quarterly average unit volume (AUV) landed at $631,000, showcasing an 8% growth year-over-year, with 827,000 total members—a 16% escalation.

During the third quarter, Xponential Fitness sold 84 franchise licenses and introduced 125 new studios. The company, led by CEO Mark King, emphasized plans to transform its operations into a marketing-centric entity focused on ensuring franchisee success.

In terms of financial highlights for Q3 2024 compared to the same period in 2023, reported revenues remained steady at $80.5 million. Notably, North America saw a 21% rise in system-wide sales, reaching $431.2 million. Adjusted EBITDA for the quarter reflected positive growth, standing at $31.0 million compared to $26.5 million in the prior year.

However, Xponential Fitness posted a net loss of $18.0 million for Q3 2024, translating to a loss of $0.29 per basic share. This compared to a net loss of $5.2 million in the same period last year. Adjusted net loss for the quarter was $0.2 million, or a loss of $0.04 per basic share.

Looking ahead, Xponential Fitness reaffirmed its 2024 guidance for system-wide sales, total revenue, and adjusted EBITDA. It slightly reduced expectations for global new studio openings while keeping the projection for North America system-wide sales unchanged. The company also provided additional key assumptions for the full year 2024, including a mid-to-high single-digit tax rate and specific share count considerations.

For extensive financial details and reconciliations between GAAP and non-GAAP measures, interested parties can delve into the official financial reports and filings provided by Xponential Fitness, Inc. Moreover, the company hosted a conference call on November 7, 2024, to delve deeper into their financial performance for the third quarter.

Xponential Fitness, Inc. continues its mission to offer accessible workout experiences across a variety of fitness verticals through its diverse brand portfolio. The company’s financial performance and strategic outlook aim to fortify its position as a prominent figure in the health and wellness franchising industry.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Xponential Fitness’s 8K filing here.

Xponential Fitness Company Profile

Xponential Fitness, Inc, through its subsidiaries, operates as a boutique fitness franchisor in North America. It offers pilates, indoor cycling, barre, stretching, rowing, dancing, boxing, running, functional training, and yoga services under the Club Pilates, Pure Barre, CycleBar, StretchLab, Row House, YogaSix, Rumble, AKT, Stride, and BFT brands.