Xponential Fitness Inc. Revenue grew by 60 percent in the third quarter, up 93 percent earlier in the year in North America.
Xponential Fitness brands portfolio includes Pilates, CycleBar, StretchLab, Row House, AKT, YogaSix, Pure Barre, STRIDE, Rumble and BFT.
Financial headline news Q3 2021 compared to Q3 2020
- Annually, revenue rose 60 percent to $ 40.9 million.
- North American systemic sales increased by 93 percent year-over-year to 192.4 million.
- North American sales of the same store grew by 65 percent over the previous year.
- The net loss posted was $ 8.9 million, or $ 0.38 per share, compared to last year’s net loss of $ 1.9 million.
- Post-adjusted net loss of $ 5.8 million, or $ 0.31 per share of 22.1 million shares, compared to the previous year’s net loss of $ 7.0 million.
- Adjusted EBCDA reported $ 6.8 million, compared to $ 1.5 million in the third quarter of 2020.
Q3 2021 Operating News
- By the end of the third quarter of 2021, the total number of studios had increased to 1,907 and 68 new studios had opened.
- In the third quarter of 2020, 248 franchise licenses were sold.
- Since the second quarter of 2020, a series of North American system-wide sales improvements representing consistent system recovery has been reported.
- Compared to January 31, 2020, the recovery rate of the North American Rating Average (AUV) is about 90 percent.
“Xponential has shown strong results for the third quarter of 2021, net revenue of $ 40.9 million, an increase of 60 percent over the year and 14 percent,” said Anthony Gisler, CEO of Xponential Fitness Inc. In the third quarter, we are very pleased with the continued motivation of our work, with active pay and visit rates increasing by approximately 60 percent and 70 percent year-over-year. Brick-and-mortar gyms are back, and boutique fitness customers are happy to be back in person at our growing studio.
“Our strong financial performance, combined with our efficiency, has paved the way for a revival in the fourth quarter. At the beginning of October, we are very pleased to welcome you to our 10th brand BFT. BFT has changed the direction of our global growth, adding more than 130 new global locations, and bringing new models, practical training, to our brand family. In addition, we have recently announced a strategic partnership with LA Fitness, which will provide more opportunities for our franchises by opening studios in more than 500 LA Fitness and Urban Sports Club locations in their protected geographic territories. I would like to thank the entire Xponential Fitness team and all of our franchises for their diligence and commitment to business, ”said Gesler.
Results for the third quarter ended September 30, 2021.
Please note that all information described herein does not include purchases or partnerships made after the third quarter, including the company’s new brand acquisition October 2021, BFT and Partnership with Fitness International, beginning Q1 2022.
Total revenue for the third quarter of 2021 increased by $ 15.3 million, or 60 percent, to $ 40.9 million, up $ 25.6 million from last year. This revenue increase includes a 65 percent year-over-year increase in store sales in North America.
Net net worth was $ 8.9 million, or $ 0.38 per share, compared to last year’s $ 1.9 million. The annual net loss is the result of a $ 4.1 million gross profit margin, with $ 3.1 million in cash equity compensation and $ 8.0 million in cash related costs to Xponential’s. Purchases.
Adjusted net loss for the third quarter of 2021, with an estimated net worth of $ 2.9 million and $ 0.2 million related to the TRA, $ 5.8 million or $ 0.31 per share of 22.1 million shares.
Adjusted EBITDA, defined as interest income, tax, depreciation and net income, equitable compensation, purchase and transaction costs, administrative fees, merger and related costs, litigation costs, and TRA measurements increased to $ 6.8 million. It increased by more than $ 1.5 million last year.
Fluid and Capital Resources
As of September 30, 2021, the company has a net worth of $ 25.5 million in cash and a total of $ 94.0 million. For the first nine months of September 30, 2021, net cash was $ 3.9 million in operations.
Based on the current business climate, BFT purchases and future prospects from this release date, the company is looking forward to the fiscal year ending December 31, 2021.
The 2021 Full Year Guide is as follows:
- New studio openings in the range of 230 to 250; This compares with 215 to 235 studio spaces compared to the previous guide;
- North American system-wide sales from $ 690.0 million to $ 700.0 million, or 57 percent increase over the year 2020.
- Revenue from $ 147.0 million to $ 148.5 million, or 39 percent increase over the year 2020. This compares with $ 135.5 million to $ 137.0 million. And
- Adjusted EBITDA is in the region of $ 25.0 million to $ 26.0 million or a 160 percent increase over the entire year 2020. That compares with $ 22.0 million to $ 23.0 million.