Life Time Group Holdings, Inc.

Listed Company

LTHCIK 0001869198NYSELarge AcceleratedServices-Membership Sports & Recreation ClubsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$3.00B

Net Income

$373.67M

Total Assets

$8.01B

Equity

$3.13B

Shares Out

221.81M

Op. Cash Flow

$870.52M

Business

Life Time Group Holdings, Inc. operates as a premium lifestyle and leisure company delivering health, fitness and wellness experiences through a branded network of resort-like athletic country clubs. It offers memberships and services including fitness floors, group and studio classes, personal and small group training, aquatics, racquet and court sports, spas, bistros, childcare and digital wellness content and coaching. Its business comprises in-center country club operations, digital memberships and ancillary retail, spa and event services. Life Time distributes its offerings through physical centers and an integrated digital app across the United States and Canada.

Summary from filing dated 2025-02-27

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	2,995	2,621	2,217	1,823	1,318
Center operations	1,569	1,392	1,184	—	—
Rent	339	305	275	245	210
General, administrative and marketing	245	221	201	214	481
Depreciation and amortization	296	275	244	229	235
Other operating expense	65	70	86	−44	44
Total operating expenses	2,514	2,264	1,991	1,712	1,813
Income from operations	481	357	225	111	−495
Interest expense, net of interest income	−82	−148	−131	−114	—
Equity in earnings (loss) of affiliates	232,000	−620,000	377,000	300,000	−9,000
Other income	94	0	0	—	—
Total other income (expense)	12	−149	−130	−113	−225
Income before income taxes	494	209	95	−3	−720
Provision for income taxes	120	53	19	−825,000	−140
Net income	374	156	76	−2	−579
Basic (in usd per share)	1.71	0.77	0.39	−0.01	−3.73
Diluted (in usd per share)	1.66	0.74	0.37	−0.01	−3.73
Basic (in shares)	218	202	196	194	155
Diluted (in shares)	225	211	204	194	155

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 and cash equivalents	205	11	11	26	32
Restricted cash and cash equivalents	27	17	19	—	—
Accounts receivable, net	24	25	24	13	6
Center operating supplies and inventories	68	60	53	46	41
Prepaid expenses and other current assets	62	53	58	46	49
Income tax receivable	0	5	10	748,000	4
Total current assets	386	171	175	131	132
Property and equipment, net	3,633	3,194	3,172	2,901	2,791
Goodwill	1,235	1,235	1,235	1,233	1,233
Operating lease right-of-use assets	2,480	2,313	2,203	2,117	1,865
Intangible assets, net	181	172	172	173	174
Other assets	93	68	76	70	62
Total assets	8,008	7,153	7,032	6,625	6,257
Accounts payable	90	88	81	74	71
Construction accounts payable	144	102	109	125	83
Deferred revenue	60	58	49	37	34
Accrued expenses and other current liabilities	214	179	185	154	148
Current maturities of debt	22	23	74	15	24
Current maturities of operating lease liabilities	79	70	59	52	46
Total current liabilities	610	520	557	457	406
Long-term debt, net of current portion	1,486	1,513	1,859	1,806	1,776
Operating lease liabilities, net of current portion	2,556	2,381	2,269	2,162	1,910
Deferred income taxes, net	172	85	56	41	55
Other liabilities	59	43	37	34	18
Total liabilities	4,882	4,542	4,778	4,501	4,165
Commitments and contingencies (Note 13)	—	—	—	—	—
Common stock, $0.01 par value per share, 500,000 shares authorized, 221,077 and 207,495 shares issued and outstanding, respectively	2	2	2	2	2
Additional paid-in capital	3,183	3,042	2,836	2,784	2,744
Accumulated deficit	−47	−421	−577	−653	−651
Accumulated other comprehensive loss	−12	−13	−7	−9	−3
Total stockholders equity	3,126	2,610	2,254	2,124	2,091
Total liabilities and stockholders equity	8,008	7,153	7,032	6,625	6,257

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
Deferred income taxes	87	29	15	−14	−140
Share-based compensation	52	51	50	37	334
Non-cash rent expense	32	34	38	39	23
Impairment charges associated with long-lived assets	9	11	15	2	2
(Gain) loss on disposal of property and equipment, net	−12	−7	14	−100	3
Loss on debt extinguishment	0	14	0	0	41
Amortization of debt discounts and issuance costs	4	7	8	8	10
Changes in operating assets and liabilities	29	2	6	3	27
Other	−2	3	−3	−2	−3
Net cash provided by operating activities	871	575	463	201	−20
Capital expenditures	−891	−525	−698	−591	−329
Acquisitions, net of cash acquired	0	0	−2	0	−10
Proceeds from sale-leaseback transactions	227	207	122	352	—
Proceeds from the sale of land	0	16	4	0	—
Other	−22	9	−551,000	−4	−5
Net cash used in investing activities	−686	−293	−574	−244	−270
Proceeds from borrowings	0	1,500	44	20	1,908
Repayments of debt	−20	−412	−15	−26	−2,178
Proceeds from revolving credit facility	220	1,225	1,376	805	159
Repayments of revolving credit facility	−230	−1,305	−1,306	−785	−253
Purchase of U.S. government obligations for the satisfaction and discharge of debt	0	−1,425	0	0	—
Repayments of finance lease liabilities	−2	−926,000	−1	−1	−2
Proceeds from financing obligations	10	4	2	21	0
Payments of debt discounts and issuance costs	−628,000	−22	−3	−43,000	−48
Proceeds from the issuance of common stock, net of issuance costs	0	124	0	0	702
Proceeds from stock option exercises	42	26	16	4	0
Proceeds from issuances of common stock in connection with the employee stock purchase plan	4	3	3	0	0
Other	−5	−2	−381,000	−1	0
Net cash provided by (used in) financing activities	19	−284	116	37	288
Effect of exchange rate on cash and cash equivalents and restricted cash and cash equivalents	113,000	−76,000	61,000	−353,000	−9,000
Increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents	204	−2	4	−6	−2

Filings

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