Hey guys, check out the latest news from Xponential Fitness, Inc.! They just released their financial results for the third quarter of 2023, and it’s looking pretty good. The revenue grew by 26% to $80.4 million, and the North America system-wide sales increased by 35% to $356.7 million. That’s some serious growth, right?
But here’s the kicker – they reported a net loss of $5.2 million, which might sound like a downer, but it’s actually an improvement from the previous year. The CEO, Anthony Geisler, seems pretty optimistic about it and said that they’re on track to end the year on a high note. They’re also making some changes to improve profitability in 2024, so things are looking up!
As for the outlook, Xponential is increasing its full year 2023 guidance for revenue and tightening the top end ranges for new studio openings, system-wide sales, and Adjusted EBITDA. They’re expecting some big growth in the coming year, and it looks like they’re on the right track.
If you’re interested in the nitty-gritty financial details, you can check out the full report on their Investor Relations site. But for now, it’s safe to say that Xponential Fitness is making some serious moves in the fitness industry. With brands like Club Pilates, CycleBar, and YogaSix under their belt, they’re definitely a force to be reckoned with. Keep an eye on these guys – they’re going places!
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