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