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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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