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Mar 31, 2023
Xponential Fitness Q1 2023 Earnings Report
Xponential Fitness reported a 40% increase in revenue and a 42% increase in North America system-wide sales compared to Q1 2022.
Key Takeaways
Xponential Fitness, Inc. announced its financial results for the first quarter ended March 31, 2023, revealing a 40% increase in revenue to $70.7 million and a 42% increase in North America system-wide sales to $317.8 million compared to the same period last year. The company raised its full-year 2023 outlook for North America system-wide sales, revenue, and Adjusted EBITDA.
Revenue grew by 40% to $70.7 million compared to Q1 2022.
North America system-wide sales increased by 42% to $317.8 million compared to Q1 2022.
North America same store sales grew by 20%, compared to 47% in Q1 2022.
North America quarterly run-rate average unit volume (AUV) was $542,000, compared to $450,000.
Xponential Fitness
Xponential Fitness
Xponential Fitness Revenue by Segment
Revenue by Segment
Franchise Revenue
CapyFin.comEquipment Revenue
CapyFin.comMerchandise Revenue
CapyFin.comFranchise Marketing Fund Revenue
CapyFin.comOther Service Revenue
CapyFin.com Forward Guidance
Xponential Fitness is increasing its full-year 2023 guidance for system-wide sales, revenue and Adjusted EBITDA, and re-affirming guidance for net new studio openings.
Positive Outlook
- Net new studio openings in the range of 540 to 560, or an increase of 8% at the midpoint as compared to full year 2022.
- North America system-wide sales in the range of $1.37 billion to $1.38 billion, or an increase of 33% at the midpoint as compared to full year 2022.
- Revenue in the range of $290.0 million to $300.0 million, or an increase of 20% at the midpoint as compared to full year 2022.
- Adjusted EBITDA in the range of $102.0 million to $106.0 million, or an increase of 40% at the midpoint as compared to full year 2022.
- Tax rate in the mid-to-high single digits.
Revenue & Expenses
Visualization of income flow from segment revenue to net income