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Mar 31, 2022
Xponential Fitness Q1 2022 Earnings Report
Xponential Fitness's first quarter of 2022 showed significant growth. Revenue increased by 73%, and North America system-wide sales grew by 70%. The company sold 260 franchise licenses and opened 99 new studios.
Key Takeaways
Xponential Fitness reported a strong first quarter in 2022, marked by substantial revenue growth and expansion in North America system-wide sales. The company opened new studios and sold numerous franchise licenses, while also reaffirming its full-year outlook for continued growth.
Revenue grew by 73% to $50.4 million compared to Q1 2021.
North America system-wide sales increased by 70% to $224.5 million.
North America same store sales grew by 47%, compared to a decline of 24% in Q1 2021.
North America quarterly run-rate average unit volume (AUV) reached $450,000, compared to $303,000 in Q1 2021.
Xponential Fitness
Xponential Fitness
Xponential Fitness Revenue by Segment
Forward Guidance
The company is reiterating its full-year 2022 outlook.
Positive Outlook
- New studio openings in the range of 500 to 520, or an increase of 81% at the midpoint as compared to full year 2021
- North America system-wide sales in the range of $995.0 million to $1.005 billion, or an increase of 41% at the midpoint as compared to full year 2021
- Revenue in the range of $201.0 million to $211.0 million, or an increase of 33% at the midpoint as compared to full year 2021
- Adjusted EBITDA in the range of $67.0 million to $71.0 million, or an increase of 153% at the midpoint as compared to full year 2021
- Tax rate in mid-to-high single digits
Revenue & Expenses
Visualization of income flow from segment revenue to net income