Boutique fitness company Xponential Fitness (XPOF) is benefiting from a rebound in gym activity…
XPOF's third-quarter loss per share was $0.31, more than the expected loss of $0.10. The company's earnings before interest, taxes, depreciation, and amortization ("EBITDA") were $6.8 million compared to the expected $4.6 million. Revenue was $40.9 million, beating the anticipated $34 million.
Shares of XPOF surged by 15.7% to $22.59 on the report.
CEO Anthony Geisler said the company's revenue surged 60% year over year and 14% on a sequential basis. He said this was driven by strong activity among paying members as well as visitation rates rising by roughly 60% to 70% year over year.
Geisler added that brick-and-mortar gyms have also recovered, fueling demand for boutique fitness experiences among customers. And these factors, combined with its partnership with LA Fitness, have the company confident that momentum will continue moving forward.
Because of this, XPOF provided better-than-expected guidance for full-year 2021. The company said EBITDA could be $25 million to $26 million well above the estimated $19.9 million. Meanwhile, the boutique fitness company added that revenue may come in at around $147 million to $148.5 million, beating the anticipated $137.8 million.
These results and outlook show that while companies like Peloton (PTON) benefited from the at-home exercise boom during the worst of the pandemic, the rise in vaccinations and reduced restrictions worldwide are helping to push consumers back into gyms. As this continues, companies such as XPOF will likely benefit, as it offers a variety of group classes and services that provide a more social experience.
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November 13, 2021 at 12:48AM
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Rising Gym Activity Boosts Xponential Fitness' Third Quarter - Stansberry Research
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