Loading...
•
Jun 30, 2023
Xponential Fitness Q2 2023 Earnings Report
Xponential Fitness reported a 30% increase in revenue and a 37% increase in North America system-wide sales compared to Q2 2022. The company sold 234 franchise licenses and opened 144 new studios. A $50 million share buyback program was announced and full-year 2023 guidance was raised.
Key Takeaways
Xponential Fitness, Inc. announced strong financial results for the second quarter ended June 30, 2023, with a 30% increase in revenue to $77.3 million and a 37% increase in North America system-wide sales to $341.3 million compared to the prior year. The company reported a net income of $27.5 million, or $1.44 per basic share, and an adjusted net income of $4.2 million, or $0.05 per basic share. Additionally, the company announced a $50 million share buyback program and raised its full-year 2023 guidance.
Revenue grew by 30% to $77.3 million compared to Q2 2022.
North America system-wide sales increased by 37% to $341.3 million compared to Q2 2022.
North America same store sales grew by 15% compared to growth of 25% in Q2 2022.
Net income was reported at $27.5 million, or $1.44 per basic share.
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 is increasing full-year 2023 guidance for system-wide sales, revenue, and Adjusted EBITDA, and re-affirming guidance for new studio openings.
Positive Outlook
- 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 $1.385 billion to $1.395 billion, or an increase of 35% at the midpoint as compared to full year 2022
- Revenue in the range of $295.0 million to $305.0 million, or an increase of 22% at the midpoint as compared to full year 2022
- Adjusted EBITDA in the range of $102.5 million to $106.5 million, or an increase of 41% 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