The following is a summary of the Xponential Fitness, Inc. (XPOF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Xponential Fitness reported Q1 2024 revenue of $79.5 million, a 12% increase year-over-year.

• Adjusted EBITDA was $29.8 million or 38% of revenue, marking a 30% increase from Q1 2023.

• The company reported a net loss of $4.4 million in Q1 2024, nonetheless, an improvement from a net loss of $15 million in Q1 2023.

• North American system-wide sales reached over $400 million, a 25% increase over Q1 2023.

• Xponential Fitness reported cash and cash equivalents of $27.2 million, down from $28.1 million the previous year due to the accelerated share repurchase program.

Business Progress:

• The company ended Q1 with 3,156 studios operating globally and 6,365 licenses sold including nearly 40 Lindora licenses closed in Q1.

• A 17% year-over-year increase in total members in North America was reported, reaching 783,000, and an 18% growth to 14.9 million in-studio visits.

• New growth initiatives are underway for Lindora to improve service offerings and customer experience to drive higher average unit volumes (AUVs) and profitability.

• The company projects North America system-wide sales to range from $1.705 billion to $1.715 billion, marking the highest in its history.

• Plan includes focusing cash on addressing lease liabilities and potential stock repurchasing later in the year.

• The company expects to see the total addressable market (TAM) of Lindora, based on its current membership, reach numbers in the 1,500 to 2,000 range over time.

• The company expects the Average Unit Volume (AUV) to increase by the end of 2024, approaching high $600,000s.

• Xponential Fitness sold 173 licenses in Q1 2024, strengthening its portfolio.

• The company plans to end its exclusive agreement with ClubReady and seeks proposals for a new point-of-sale system.

More details: Xponential Fitness IR

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