Xponential Fitness — the owner of several fitness brands including Pure Barre, YogaSix, and Rumble — exceeded expectations in the company’s latest earnings report.
- Net income reached $31.5 million in Q2, compared to a net loss of $8 million.
- The company sold 251 franchise licenses and opened 128 new studios in Q2.
- As of June 30, it had $29.3 million of cash, cash equivalents, and restricted cash.
- The company reported $131.7 million in total long-term debt.
Xponential has accordingly raised its full-year revenue outlook, anticipating its current state of business to maintain its pace as it continues to expand its reach.
The California-based company projects full-year revenue to range between $211 million and $221 million, up from a previous guidance of between $201 million and $211 million.
Xponential expects to open a total of 500 to 520 new studios in 2022, up 53% compared to FY2021.
In June 2021, Xponential filed for an initial public offering after a year-long delay caused by the pandemic. At the time, the company was seeking a valuation of roughly $1.3 billion.
A month later, Xponential went public raising $120 million in its IPO by selling 10 million shares for $12 apiece. The transaction also included a $200 million private placement by investors.