Xponential Fitness, Inc.

Listed Company

XPOFCIK 0001802156NYSEEmerging GrowthServices-Miscellaneous Amusement & RecreationDelawareFY ends Dec 31

Period

FY 2025

Revenue

$314.88M

Net Income

$-38.68M

Total Assets

$345.63M

Equity

$-269.08M

Shares Out

—

Op. Cash Flow

$28.32M

Business

Xponential Fitness, Inc. is a franchisor of boutique health and wellness brands through Xponential Fitness LLC. It provides studio classes and services in Pilates, cycling, barre, stretching, yoga, boxing, functional training and metabolic health, plus digital subscriptions and branded merchandise. The company operates eight brands — Club Pilates, CycleBar, Pure Barre, StretchLab, YogaSix, Rumble, BFT and Lindora — and offers franchise sales, training, technology and supply‑chain support. It distributes primarily via an asset‑light franchise model across North America and internationally through franchise and master‑franchise agreements and digital channels.

Summary from filing dated 2025-03-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue, net	315	320	318	243	155
Selling, general and administrative expenses (Note 9)	152	177	169	126	94
Impairment of goodwill and other noncurrent assets	33	63	17	4	781,000
Depreciation and amortization	12	18	17	15	10
Marketing fund expense	40	27	23	17	13
Acquisition and transaction (income) expense	−7	9	−18	2	27
Total operating costs and expenses	295	374	283	230	186
Operating income (loss)	20	−54	35	13	−31
Interest income	−3	−2	−2	−2	−1
Other income	−1	0	0	—	—
Interest expense	49	46	39	13	25
Tax receivable agreement expense (benefit)	−11,000	998,000	3	—	—
Loss on debt extinguishment	27	0	0	0	−4
Total other expense	72	45	40	12	20
Loss before income taxes	−52	−99	−5	2	−51
Income taxes (benefit)	1	−342,000	1	488,000	783,000
Net loss	−54	−99	−6	1	−51
Less: net loss attributable to noncontrolling interests	−15	−31	−2	−114,000	−33
Net loss attributable to Xponential Fitness, Inc.	−39	−68	−4	1	−19
Basic (per share)	−1.47	−2.27	1.08	−0.88	−2.85
Diluted (per share)	−1.47	−2.27	−0.52	−0.88	−2.85
Basic (shares)	35	32	32	25	22
Diluted (shares)	35	32	40	25	22

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash, cash equivalents and restricted cash	46	33	37	37	21
Accounts receivable, net	18	26	32	26	12
Inventories	2	10	16	11	7
Prepaid expenses and other current assets	24	11	6	6	5
Deferred costs, current portion	4	5	7	4	4
Notes receivable, net	290,000	232,000	—	—	—
Total current assets	95	84	97	86	51
Property and equipment, net	11	15	20	19	13
Right-of-use assets	14	24	74	30	0
Goodwill	128	135	171	166	169
Intangible assets, net	67	101	120	137	137
Deferred costs, net of current portion	25	40	47	44	42
Notes receivable from franchisees, net of current portion	0	100,000	802,000	1	3
Other assets	7	4	1	795,000	553,000
Total assets	346	403	530	483	416
Accounts payable	26	27	19	16	15
Accrued expenses	51	31	20	12	21
Deferred revenue, current portion	19	26	35	32	23
Current portion of long-term debt	5	5	5	3	3
Other current liabilities	14	18	24	9	3
Total current liabilities	116	108	102	73	66
Deferred revenue, net of current portion	70	106	117	109	96
Contingent consideration from acquisitions (Note 16)	10	18	9	28	55
Long-term debt, net of current portion, discount and issuance costs	501	342	319	133	128
Lease liabilities, net of current portion	14	24	72	31	0
Other liabilities	7	251,000	5	9	5
Total liabilities	718	597	624	383	349
Commitments and contingencies (Note 16)	—	—	—	—	—
Additional paid-in capital	490	504	521	505	0
Receivable from shareholder (Note 9)	−17	−17	−15	−16	−11
Accumulated deficit	−741	−702	−634	−642	−644
Treasury stock, at cost, 75 shares outstanding as of December 31, 2025 and December 31, 2024	−2	−2	−2	−2	0
Total stockholders' deficit attributable to Xponential Fitness, Inc.	−269	−217	−130	−155	−654
Noncontrolling interests	−103	−94	−80	−53	444
Total stockholders' deficit	−372	−311	−210	−212	−211
Total liabilities, redeemable convertible preferred stock and stockholders' deficit	346	403	530	483	416

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization and write off of debt issuance costs	168,000	238,000	463,000	126,000	6
Amortization and write off of discount on long-term debt	8	4	3	613,000	3
Change in contingent consideration from acquisitions	−7	8	−19	2	26
Non-cash lease expense	4	7	13	3	—
Change in tax receivable agreement liability	−11,000	998,000	3	—	—
Bad debt expense	3	3	2	−712,000	410,000
Equity-based compensation	13	15	18	29	10
Non-cash interest	−2	−1	−1	−1	583,000
Gain on disposal of assets and lease terminations	−7	−13	−2	—	—
Gain on divestitures	−5	—	0	—	—
Accounts receivable	5	−4	−7	−12	−7
Inventories	8	6	−4	−4	−768,000
Prepaid expenses and other current assets	−12	601,000	307,000	−629,000	−4
Operating lease liabilities	−4	−3	−9	−2	0
Deferred costs	11	9	−6	−2	−7
Notes receivable, net	3,000	5,000	−3,000	33,000	137,000
Accounts payable	−141,000	9	889,000	469,000	−3
Accrued expenses	20	13	5	−4	4
Other current liabilities	−370,000	2	4	2	1
Deferred revenue	−32	−20	7	19	30
Other assets	834,000	−4	−648,000	−240,000	1,000
Other liabilities	7	−4	−3	3	−85,000
Net cash provided by operating activities	28	12	33	52	14
Purchases of property and equipment	−4	−5	−7	−9	−4
Proceeds from sale of assets	0	346,000	60,000	65,000	433,000
Purchase of studios	0	0	−164,000	0	−450,000
Purchase of intangible assets	−2	−2	−2	−7	−1
Notes receivable issued	−173,000	0	−581,000	−2	−2
Notes receivable payments received	178,000	533,000	776,000	3	820,000
Proceeds from disposition of brands	7	0	0	—	—
Acquisition of business	0	−9	−3	0	−44
Net cash provided by (used in) investing activities	2	−14	−12	−15	−51
Borrowings from long-term debt, net of original discount issue	516	63	189	7	256
Payments on long-term debt	−392	−44	−4	−3	−311
Debt issuance costs	−2	−318,000	−411,000	−55,000	−996,000
Payment of preferred stock dividend	−6	−6	−7	—	—
Payment of promissory note liability	−3	−3	0	0	—
Payments of contingent consideration	−500,000	0	−1	−2	−12
Payments for taxes related to net share settlement of restricted share units	−3	−83,000	−8	−2	0
Proceeds from issuance of common stock in connection with stock-based compensation plans	193,000	210,000	0	0	—
Payments for tax receivable agreement	0	−2	−1	0	0
Payments for redemption of preferred stock	0	0	−131	0	0
Payments for distributions to Pre-IPO LLC Members	−477,000	−9	−12	−394,000	0
Repurchase of Class A common stock	0	0	−50	0	0
Payment received from shareholder (Note 9)	2	14,000	9	0	0
Payments for excise tax on share repurchases	0	−359,000	0	0	—
Payments for redemption of preferred shares	−128	0	0	—	—
Loan to shareholder (Note 9)	−249,000	0	−4	−5	0
Proceeds from disgorgement of stockholders short-swing profits (Note 9)	0	0	516,000	0	0
Net cash used in financing activities	−17	−2	−21	−21	46
Increase (decrease) in cash, cash equivalents and restricted cash	13	−4	−276,000	16	10
Interest paid	38	41	35	12	16
Income taxes paid, net	206,000	563,000	2	3	1
Capital expenditures accrued at period end	344,000	799,000	1	1	595,000
Adjustment of convertible preferred stock to redemption value	0	0	−50	31	78
Fair value of promissory note entered into in connection with acquisition (Note 3)	0	0	6	0	0
Liability-classified restricted stock units vested	0	0	2	0	0
Deemed contribution (dividend) from redemption of convertible preferred stock	−12	0	13	0	0
Accrued tax withholding related to convertible preferred stock dividend	0	0	112,000	0	0
Receivable from shareholder arising from the Rumble studios acquisition	0	0	1	—	—
Excise tax liability accrued	0	0	360,000	0	0
Preferred stock dividend accrued	0	0	448,000	0	0
Debt issuance costs paid-in-kind - long-term debt	0	4	0	0	—
Fair value of promissory note entered into in connection with divestiture (Note 3)	4	0	0	—	—
Original issue discount	19	0	0	—	—
Non-cash proceeds from sale of asset	0	275,000	0	0	—
Preferred stock dividend paid-in-kind	0	2	0	0	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro