Planet Fitness, Inc.

Listed Company

PLNTCIK 0001637207NYSELarge AcceleratedServices-Membership Sports & Recreation ClubsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.32B

Net Income

$219.10M

Total Assets

$3.10B

Equity

$-482.78M

Shares Out

100

Op. Cash Flow

$418.42M

Business

Planet Fitness, Inc. operates and franchises a network of fitness centers and provides brand, operational and franchise support services. It offers membership plans (Classic and PF Black Card), unlimited fitness instruction, in-club amenities, Planet Fitness-branded fitness equipment, PF Perks and a mobile app with digital workouts and member services. Key business segments include franchised clubs, corporate-owned clubs, equipment sales and related services, and nationally and locally managed advertising funds and franchise support. Clubs and services are distributed across U.S. and international markets through franchise channels, corporate clubs, digital platforms and approved vendors.

Summary from filing dated 2025-02-25

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	1,324	1,182	1,071	937	587
Cost of revenue	230	197	190	177	101
Club operations	319	291	254	219	—
Selling, general and administrative	138	129	125	115	95
National advertising fund expense	88	79	70	66	59
Depreciation and amortization	156	160	149	124	63
Other (gain) loss, net	−385,000	1	10	5	15
Total operating costs and expenses	929	857	798	707	444
Income from operations	395	324	273	230	143
Interest income	23	23	18	5	878,000
Interest expense	−108	−100	−87	−89	—
Other (expense) income, net	−454,000	−548,000	4	15	−11
Total other expense, net	−86	−77	−65	−69	−91
Income before income taxes	309	247	208	161	52
Provision for income taxes	86	68	59	51	6
Losses from equity-method investments, net of tax	−3	−4	−2	−467,000	−179,000
Net income	220	174	147	110	46
Less net income attributable to non-controlling interests	1	2	9	11	3
Net income attributable to Planet Fitness, Inc.	219	172	138	99	43

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	346	293	276	410	546
Restricted cash	66	57	46	—	—
Short-term marketable securities	107	114	75	0	—
Accounts receivable, net of allowances for uncollectible amounts of $428 and $30 as of December 31, 2025 and 2024, respectively	70	77	42	46	27
Inventory	8	6	5	5	1
Prepaid expenses	25	21	14	11	13
Other receivables	34	17	11	15	14
Income tax receivable	3	3	3	5	4
Total current assets	658	588	472	556	662
Long-term marketable securities	88	66	51	0	—
Investments, net of allowance for expected credit losses of $24,424 and $18,834 as of December 31, 2025 and 2024, respectively	70	76	78	25	—
Property and equipment, net of accumulated depreciation of $453,852 and $370,118, as of December 31, 2025 and 2024, respectively	467	424	390	349	174
Right-of-use assets, net	409	395	381	347	190
Intangible assets, net	286	323	373	417	201
Goodwill	712	721	718	703	229
Deferred income taxes	407	470	504	455	539
Other assets, net	5	7	4	4	2
Total assets	3,103	3,070	2,970	2,855	2,016
Current maturities of long-term debt	24	23	21	21	18
Accounts payable	40	33	24	21	28
Accrued expenses	75	68	66	67	52
Equipment deposits	10	2	5	8	6
Deferred revenue, current	59	62	60	54	28
Payable pursuant to tax benefit arrangements, current	56	56	41	32	—
Other current liabilities	49	40	35	42	25
Total current liabilities	312	282	251	245	177
Long-term debt, net of current maturities	2,458	2,148	1,963	1,978	1,665
Lease liabilities, net of current portion	419	405	382	342	198
Deferred revenue, net of current portion	30	32	32	33	33
Deferred tax liabilities	1	1	2	1	0
Payable pursuant to tax benefit arrangements, net of current portion	360	411	454	463	—
Other liabilities	6	4	5	4	3
Total noncurrent liabilities	3,274	3,003	2,837	2,822	2,482
Commitments and contingencies (Note 17)	—	—	—	—	—
Additional paid in capital	623	609	576	505	63
Accumulated other comprehensive income (loss)	1	−2	172,000	−448,000	12,000
Accumulated deficit	−1,107	−822	−691	−704	−709
Total stockholders deficit attributable to Planet Fitness, Inc.	−483	−215	−116	−199	−645
Non-controlling interests	−601,000	7,000	−3	−13	3
Total stockholders deficit	−483	−215	−119	−212	−643
Total liabilities and stockholders deficit	3,103	3,070	2,970	2,855	2,016

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
Equity-based compensation	12	9	8	8	9
Deferred tax expense	64	56	51	49	2
Amortization of deferred financing costs	5	5	5	6	6
Loss on extinguishment of debt	2	2	0	2	—
Accretion of marketable securities discount	−1	−3	−3	0	0
Dividends accrued on held-to-maturity investment	−2	−2	−2	−2	−1
Credit loss on held-to-maturity investment	6	1	3	−3	17
Loss (gain) on re-measurement of tax benefit arrangement liability	2	1	−2	−14	12
Gain on sale of corporate-owned clubs	−6	0	0	−1	0
Gain on insurance proceeds	−1	−1	0	—	—
Other	154,000	2	−284,000	158,000	13,000
Accounts receivable	7	−36	5	−19	−11
Inventory	−1	−1	599,000	−4	−681,000
Other assets and other current assets	−16	−12	929,000	−5	8
Accounts payable and accrued expenses	7	17	−975,000	−15	31
Other liabilities and other current liabilities	18,000	−519,000	−8	9	−3
Income taxes	498,000	407,000	2	−2	2
Payments pursuant to tax benefit arrangements	−54	−45	−35	−19	−445,000
Equipment deposits	8	−3	−4	2	5
Deferred revenue	−3	3	4	9	2
Leases	12	13	7	3	2
Net cash provided by operating activities	418	344	330	240	189
Additions to property and equipment	−164	−155	−136	−100	−54
Insurance proceeds for property and equipment	2	848,000	0	—	—
Payment of consideration for acquired clubs	−3	0	−43	—	—
Proceeds from sale of corporate-owned clubs	22	0	0	21	0
Purchases of marketable securities	−156	−155	−203	0	0
Maturities of marketable securities	142	104	80	0	0
Issuance of note receivable, related party	−3	−2	0	0	—
Other investments	112,000	−602,000	−38	—	—
Net cash used in investing activities	−160	−209	−340	−507	−91
Proceeds from issuance of long-term debt	750	800	0	900	0
Repayment of long-term debt	−432	−609	−21	−725	−18
Payment of deferred financing and other debt-related costs	−14	−12	0	−16	0
Repurchase and retirement of Class A common stock	−500	−300	−125	−94	0
Proceeds from issuance of Class A common stock	2	22	9	925,000	8
Principal payments on capital lease obligations	−149,000	−98,000	−193,000	−268,000	−182,000
Payment of share repurchase excise tax	−3	−1	0	0	—
Distributions to members of Pla-Fit Holdings	−2	−5	−5	−5	−750,000
Net cash used in financing activities	−198	−105	−141	136	−10
Effects of exchange rate changes on cash and cash equivalents	2	−3	776,000	−808,000	14,000
Net increase (decrease) in cash, cash equivalents and restricted cash	62	28	−150	−131	88
Cash paid for interest	100	91	81	81	75
Purchases of property and equipment included in accounts payable and accrued expenses	18	11	19	14	6
Fair value of clubs exchanged for equity-method investment	0	0	17	0	0

Filings

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