← Xponential Fitness, Inc.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Net loss | ($37.1m) | ($13.6m) | ($51.4m) | $2.9m | ($1.7m) | ($98.7m) | ($53.7m) | — | |
| Depreciation and amortization | $6.4m | $7.7m | $10.2m | $15.3m | $16.9m | $17.7m | $12.0m | $10.1m | |
| Amortization and write off of debt issuance costs | $526k | $3.1m | $5.7m | $126k | $463k | $238k | $168k | — | |
| Amortization and write off of discount on long-term debt | — | $0 | $2.7m | $613k | $2.9m | $4.1m | $7.7m | — | |
| Proceeds from issuance of common stock in connection with stock-based compensation plans | — | — | — | $0 | $0 | $210k | $193k | $129k | |
| Impairment of goodwill and other noncurrent assets | — | — | $781k | $3.7m | $16.7m | $62.6m | $32.7m | — | |
| Accounts receivable | ($6.6m) | $3.0m | ($6.6m) | ($12.7m) | ($7.7m) | ($3.9m) | $4.5m | $17.9m | |
| Inventories | ($296k) | ($1.4m) | ($768k) | ($3.9m) | ($3.5m) | $5.6m | $7.8m | $4.4m | |
| Accounts payable | $6.5m | $1.7m | ($3.0m) | $469k | $1.4m | $8.6m | ($141k) | ($6.7m) | |
| Accrued expenses | $936k | $1.9m | $3.6m | ($5.0m) | $2.0m | $12.9m | $19.8m | ($12.9m) | |
| Deferred revenue | $35.1m | $7.0m | $30.0m | $18.2m | $7.3m | ($19.5m) | ($31.7m) | — | |
| Capital expenditures accrued at period end | $1.2m | $196k | $595k | $1.4m | $1.0m | $799k | $344k | ($3.8m) | |
| Accrued tax withholding related to convertible preferred stock dividend | — | — | $0 | $0 | $112k | $0 | $0 | — | |
| Accrued deemed dividend | — | $0 | $3.2m | $0 | $0 | — | — | — | |
| Intangible asset acquired in exchange for deferred revenue | — | $0 | $0 | $4.8m | $0 | $0 | — | — | |
| Excise tax liability accrued | — | — | $0 | $0 | $360k | $0 | $0 | — | |
| Preferred stock dividend accrued | — | — | $0 | $0 | $448k | $0 | $0 | — | |
| Prepaid expenses and other current assets | ($1.6m) | ($2.9m) | ($4.2m) | ($1.0m) | $438k | $601k | ($11.9m) | — | |
| Other current liabilities | $401k | ($955k) | $1.4m | $2.2m | $2.9m | $4.2m | ($370k) | $6.4m | |
| Other assets | ($50k) | ($196k) | $1k | ($240k) | ($648k) | ($3.5m) | $834k | — | |
| Other liabilities | $1.4m | $113k | ($85k) | $3.3m | $1.7m | ($4.7m) | $6.8m | — | |
| Net cash provided by operating activities | $1.5m |
($728k)
-147.03%
|
$14.5m
+2085.03%
|
$51.7m
+257.55%
|
$35.4m
-31.45%
|
$11.7m
-67.03%
|
$28.3m
+142.51%
|
($5.8m)
-120.31%
|
|
| Purchases of property and equipment | ($7.2m) | ($1.9m) | ($3.6m) | ($9.0m) | ($7.4m) | ($4.7m) | ($3.6m) | ($3.8m) | |
| Change in contingent consideration from acquisitions | $7.9m | ($11.0m) | $25.6m | $2.4m | ($18.9m) | $8.4m | ($6.9m) | — | |
| Gain on divestitures | — | — | — | — | $0 | — | ($5.0m) | — | |
| Fair value of promissory note entered into in connection with divestiture (Note 3) | — | — | — | — | $0 | $0 | $4.3m | — | |
| Net cash provided by (used in) investing activities | ($9.8m) | ($4.6m) | ($50.6m) | ($14.6m) | ($12.6m) | ($14.1m) | $1.5m | $3.2m | |
| Bad debt expense | $1.5m | $2.8m | $410k | ($712k) | $2.2m | $3.1m | $2.8m | — | |
| Loss on extinguishment of debt | — | $0 | ($3.7m) | $0 | $0 | $0 | $27.3m | — | |
| Borrowings from long-term debt, net of original discount issue | $12.0m | $188.7m | $256.0m | $7.4m | $189.2m | $63.0m | $516.2m | — | |
| Payments on long-term debt | ($1.6m) | ($149.2m) | ($310.6m) | ($3.0m) | ($4.2m) | ($43.9m) | ($392.1m) | — | |
| Debt issuance costs | ($205k) | ($5.2m) | ($996k) | ($55k) | ($411k) | ($318k) | ($1.7m) | — | |
| Debt issuance costs paid-in-kind - long-term debt | — | — | — | $0 | $0 | $4.1m | $0 | — | |
| Proceeds from the issuance of Class A common stock, net of underwriting costs | — | $0 | $122.0m | $0 | $0 | — | — | — | |
| Repurchase of Class A common stock | — | — | $0 | $0 | ($50.4m) | $0 | $0 | — | |
| Payment of preferred stock dividend | — | — | ($9.0m) | ($16.2m) | ($7.1m) | ($5.8m) | ($5.7m) | — | |
| Deemed contribution (dividend) from redemption of convertible preferred stock | — | — | $0 | $0 | $12.7m | $0 | ($11.7m) | — | |
| Preferred stock dividend paid-in-kind | — | — | — | $0 | $0 | ($2.1m) | $0 | ($1.9m) | |
| Payments for taxes related to net share settlement of restricted share units | — | $0 | $0 | ($1.9m) | ($8.1m) | ($83k) | ($3.0m) | — | |
| Net cash used in financing activities | $6.4m |
$7.3m
+14.59%
|
$46.2m
+533.90%
|
($21.0m)
-145.46%
|
($23.1m)
-10.01%
|
($1.9m)
+91.85%
|
($16.7m)
-788.05%
|
($11.1m)
+33.50%
|
|
| Increase (decrease) in cash, cash equivalents and restricted cash | ($1.9m) | $2.0m | $10.0m | $16.1m | ($276k) | ($4.4m) | $13.1m | — | |
| Cash, cash equivalents and restricted cash, beginning of period | $9.3m | $11.3m | $21.3m | $37.4m | $37.1m | $32.7m | $45.9m | — | |
| Additional Supplementary Disclosures | |||||||||
| Additional Supplementary Disclosures | |||||||||
| Non-cash lease expense | — | — | — | $2.7m | $13.3m | $7.1m | $4.1m | — | |
| Change in tax receivable agreement liability | — | — | — | — | $3.2m | $998k | ($11k) | — | |
| Equity-based compensation | $2.1m | $1.8m | $9.7m | $29.0m | $18.0m | $15.5m | $12.9m | — | |
| Non-cash interest | $2.8m | $1.3m | $583k | ($1.1m) | ($1.3m) | ($1.3m) | ($2.0m) | — | |
| Gain on disposal of assets and lease terminations | — | — | — | — | ($2.1m) | ($12.8m) | ($6.9m) | — | |
| Operating lease liabilities | — | $0 | $0 | ($2.5m) | ($9.0m) | ($3.4m) | ($3.8m) | — | |
| Deferred costs | ($18.5m) | ($1.2m) | ($7.1m) | ($2.0m) | ($5.4m) | $8.9m | $11.3m | — | |
| Notes receivable, net | ($579k) | $210k | $137k | $33k | ($3k) | $5k | $3k | — | |
| Related party payable | ($68k) | ($28k) | ($1k) | $0 | $0 | — | — | — | |
| Proceeds from sale of assets | $2.0m | $58k | $433k | $65k | $60k | $346k | $0 | — | |
| Purchase of studios | ($532k) | ($1.1m) | ($450k) | $0 | ($164k) | $0 | $0 | — | |
| Purchase of intangible assets | ($281k) | ($1.0m) | ($1.2m) | ($7.2m) | ($1.8m) | ($1.8m) | ($1.6m) | — | |
| Notes receivable issued | ($3.0m) | ($619k) | ($2.3m) | ($1.8m) | ($581k) | $0 | ($173k) | — | |
| Notes receivable payments received | — | $0 | $820k | $3.2m | $776k | $533k | $178k | — | |
| Proceeds from disposition of brands | — | — | — | — | $0 | $0 | $6.7m | — | |
| Acquisition of business | ($750k) | ($1.1m) | ($44.3m) | $0 | ($3.5m) | ($8.5m) | $0 | — | |
| Payments of costs related to IPO | — | $0 | ($3.1m) | $0 | $0 | — | — | — | |
| Payments to purchase 750,000 LLC units/Class B Shares | — | $0 | ($9.0m) | $0 | $0 | — | — | — | |
| Proceeds from issuance of redeemable convertible preferred stock, net of offering costs | — | $0 | $198.4m | $0 | $0 | — | — | — | |
| Payment to purchase all of the shares of LCAT from LCAT shareholders | — | $0 | ($144.5m) | $0 | $0 | — | — | — | |
| Payment of H&W Cash Merger Consideration | — | $0 | ($11.7m) | $0 | $0 | — | — | — | |
| Payments to acquire the Preferred Units and LLC Units | — | $0 | ($20.5m) | $0 | $0 | — | — | — | |
| Exchange of LLC units for Class B shares | — | $0 | $2k | $0 | $0 | — | — | — | |
| Payment of promissory note liability | — | — | — | $0 | $0 | ($3.5m) | ($3.4m) | — | |
| Payments of contingent consideration | ($1.7m) | ($3.2m) | ($12.2m) | ($2.2m) | ($1.4m) | $0 | ($500k) | — | |
| Payments for tax receivable agreement | — | — | $0 | $0 | ($1.2m) | ($2.3m) | $0 | — | |
| Payments for redemption of preferred stock | — | — | $0 | $0 | ($130.8m) | $0 | $0 | — | |
| Payments for distributions to Pre-IPO LLC Members | — | — | $0 | $0 | ($12.9m) | ($8.9m) | ($477k) | — | |
| Payment received from shareholder (Note 9) | — | — | $0 | $0 | $8.1m | $14k | $2.4m | — | |
| Payments for excise tax on share repurchases | — | — | — | $0 | $0 | ($359k) | $0 | — | |
| Payments for redemption of preferred shares | — | — | — | — | $0 | $0 | ($128.5m) | — | |
| Loan to shareholder (Note 9) | — | $0 | $0 | ($5.0m) | ($4.4m) | $0 | ($249k) | — | |
| Proceeds from disgorgement of stockholders short-swing profits (Note 9) | — | — | $0 | $0 | $516k | $0 | $0 | — | |
| Interest paid | $12.9m | $17.0m | $16.1m | $11.6m | $34.8m | $41.3m | $37.5m | $41.6m | |
| Income taxes paid, net | $174k | $228k | $1.4m | $2.8m | $1.6m | $563k | $206k | — | |
| Contingent consideration converted to Member contribution (Note 10) | — | $5.6m | $0 | $0 | — | — | — | — | |
| Contingent consideration converted to equity (Note 11) | — | $0 | $0 | $29.1m | $0 | $0 | — | — | |
| Parent contribution of Rumble assets | — | $0 | $20.5m | $0 | $0 | — | — | — | |
| Original contingent consideration related to Rumble | — | $0 | $23.1m | $0 | $0 | — | — | — | |
| Rumble note receivable from shareholder | — | $0 | $10.6m | $0 | $0 | — | — | — | |
| Collateralization of note from shareholder with treasury shares (Note 11) | — | $0 | $0 | $1.7m | $0 | $0 | — | — | |
| Adjustment of convertible preferred stock to redemption value | — | $0 | $78.5m | $31.2m | ($50.0m) | $0 | $0 | — | |
| Fair value of promissory note entered into in connection with acquisition (Note 3) | — | — | $0 | $0 | $6.5m | $0 | $0 | — | |
| Liability-classified restricted stock units vested | — | — | $0 | $0 | $2.2m | $0 | $0 | — | |
| Adjustment of redeemable noncontrolling interest | — | $0 | $174.4m | $0 | $0 | — | — | — | |
| Deferred offering costs reclassified into equity | — | $0 | $4.4m | $0 | $0 | — | — | — | |
| Receivable from shareholder arising from the Rumble studios acquisition | — | — | $0 | $0 | $1.4m | $0 | $0 | — | |
| Contingent consideration upon acquisition | — | — | — | $0 | $0 | $446k | $0 | — | |
| Original issue discount | — | — | — | — | $0 | $0 | $18.8m | — | |
| Non-cash proceeds from sale of asset | — | — | — | $0 | $0 | $275k | $0 | — |