Planet Fitness, Inc. · NYSE:PLNT
Planet Fitness — Q2 2025 Earnings Presentation
25 slides from Planet Fitness's earnings presentation, Aug 6, 2025
Slide 1: Investor Presentation August 2025
INVESTOR PRESENTATION AUGUST 2025
Slide 2: Presentation of Financial Measures & Forward-Looking Statements
PRESENTATION OF FINANCIAL MEASURES & FORWARD-LOOKING STATEMENTS The financial information presented in this presentation includes non-GAAP financial measures such as Adjusted EBITDA, Segment Adjusted EBITDA and Adjusted net income pershare,diluted to provide measures that we believe are useful to in
Slide 3: Planet Fitness Q2 2025 Result at a Glance
PLANET FITNESS Q2 2025 RESULT AT A GLANCE 8.2% ENHANCING PEOPLE’S LIVES BY PROVIDING A 2,762 HIGH-QUALITY FITNESS EXPERIENCE IN A WELCOMING, NON-INTIMIDATING ENVIRONMENT, 20.8M Same Club WHICH WE CALL THE JUDGEMENT FREE ZONE ® Members Clubs Sales Increase NYSE: PLNT $9.4 Billion1 2015 IPO Market Cap
Slide 4: Why Invest in Planet Fitness
WHY INVEST IN PLANET FITNESS • Industry Leader Largest fitness franchise by number of members and locations • Growing & Successful Business Model Supporting increased consumer prioritization of health wellness, especially among Gen-Z • Historical Financial Performance Strong track record of consiste
Slide 5: Fitness Market Overview
FITNESS MARKET OVERVIEW • 83% of the U.S. population and 58% of the global U.S. Fitness Facility Members5 population live in urban areas, which is expected to increase to 89% and 69% by 2050, respectively.1 80M • Between 2010 and 2019, the average apartment size in the U.S. shrank by 90 square feet2
Slide 6: Disruptive Disciplined Franchise Model
DISRUPTIVE DISCIPLINED FRANCHISE BRAND ~80% Who Don't Streamlined MODEL Belong to a Gym Operating Model DIFFERENTIATED Re-equip Judgement Free Schedules MODEL Unique Royalty Great Value Stream 30+ years of consistent growth 6 Asset-light 90% franchise, 10% corporate-owned model
Slide 7: Significant Size & Scale Advantage
SIGNIFICANT SIZE & SCALE ADVANTAGE Clubs & Membership HVLP Landscape 2,762 Clubs1 Marketing • More than $1B2 spend on marketing 3 483 743 systemwide since 2015 IPO 198 • Spent over $330M in systemwide PLNT 2nd Largest 3rd Largest All Others marketing 2024 • #1 in aided/unaided brand awareness 4 6.6x
Slide 8: Differentiated Fitness Concept with Broad Demographic Appeal
DIFFERENTIATED FITNESS CONCEPT WITH BROAD DEMOGRAPHIC APPEAL Proven success of increasing penetration of each successive generation Q4 2019 Q2 2025 14.4M MEMBERS 20.8M MEMBERS Balanced Nearly 50/50 of split 4% Member Mix of female vs 19% BOOMER+ 3% 14% BOOMER+ Penetration Penetration male members1 7
Slide 9: Long Track Record of Strong SCS Growth
LONG TRACK RECORD OF STRONG SCS GROWTH 16 straight quarters of positive SCS 11% 10% 10% 9% 9% 9% 8% 8% 6% 6% 5% 4% 4% NM NM 2015 2016 2017 2018 2019 2020 2021 2022 2023 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 9 SCS during fiscal years 2020 and 2021 were adversely affected by the COVID-19 pandemic, and t
Slide 10: Streamlined, Easy-to-Operate & Profitable Store Model
STREAMLINED, EASY-TO-OPERATE & PROFITABLE STORE MODEL Streamlined Minimal required Automatic, operations = Highlight staffing & No perishable recurring consistent attractive club working capital inventory revenue model customer level margins needs experience Illustrative Franchise Unit Economics Uni
Slide 11: Propelling Our Brand Forward
PROPELLING OUR BRAND FORWARD 11
Slide 12: Our Strategic Imperatives
OUR STRATEGIC IMPERATIVES 1. Redefining our Brand Strategy 2. Enhancing our Member Experience 3. Refining our Product & Optimizing our Format 4. Accelerating New Club Growth 12
Slide 13: Redefining Our Brand Strategy
REDEFINING OUR BRAND STRATEGY BROADENING OUR AUDIENCE EMPHASIZING “HIGH VALUE” STRENGTH EQUIPMENT FOCUS • Expand target audience to include • Highlight the value of membership • Highlight balanced offering of current, former, non-members, and beyond just affordability equipment to meet consumers' co
Slide 14: Enhancing Our Member Experience
ENHANCING OUR MEMBER EXPERIENCE The value we offer to our members goes well beyond the walls of a Planet Fitness • Members can bring the Judgement Free Zone® anywhere with more than 500 digital workouts in the PF app #1 Most Downloaded Fitness App • Members receive exclusive discounts through our Pe
Slide 15: Refining Our Product & Optimizing Our Format
REFINING OUR PRODUCT & OPTIMIZING OUR FORMAT • Moving clubs to a more balanced footprint of cardio and strength equipment • Nearly 100% of clubs will have additional strength equipment be end of 2025 • Option to remove 30-minute workout area to create space for more functional training 15
Slide 16: Accelerating New Club Growth
ACCELERATING NEW CLUB GROWTH • Implemented two key initiatives in 2024 to enhance growth: • New Growth Model to help lower the cost of opening and operating a club • Increased monthly Classic Card price from $10 to $15 • On a path to accelerate growth to expand to 5,000 locations domestically 16
Slide 17: New Growth Model
NEW GROWTH MODEL Focused on enhancing Planet Fitness’s already strong new club economics and reducing capital requirements for opening and operating a Planet Fitness franchise location. New Model Previous Model • 12- year Franchise Agreement • 10-year Franchise Agreement Franchise • $0 Initial Fee3
Slide 18: Global Growth
GLOBAL GROWTH Gaining scale and density in key growth markets USA Canada Mexico Australia Spain Panama Club Count1 2,603 84 36 24 8 7 % of Pop. with 24% 11% 6% 15% 12% 2% Gym Membership2 18 1.PF data as of Q2’25 2. Gym penetration – IHRSA 2023
Slide 19: Financial Overview
FINANCIAL OVERVIEW 19
Slide 20: Consistent Track Record of Growth
CONSISTENT TRACK RECORD OF GROWTH Total Clubs CAGR: 10% Total Members CAGR: 12% Corporate-owned (in millions) Franchised 2,575 2,722 2,254 2,410 19.7 2,001 2,124 277 17.0 18.7 1,742 234 256 15.2 1,518 103 112 14.4 13.5 1,313 98 12.5 1,124 76 10.6 62 8.9 2,319 2,445 7.3 58 58 1,666 1,903 2,021 2,142
Slide 21: Strong Balance Sheet Management
STRONG BALANCE SHEET MANAGEMENT $280M Accelerated Share Repurchase 4.8x* 4.7x 4.7x $20M $50M 4.6x Open Market Open Market Repurchase Repurchase 4.5x 4.4x 4.4x 4.2x Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Share Repurchase Total Debt/AEBITDA 21 *Refinanced and upsized a tranche of securitized
Slide 22: Prioritizing High-Return Investments and Committed to Asset-Light Model
PRIORITIZING HIGH-RETURN INVESTMENTS AND COMMITTED TO ASSET-LIGHT MODEL Capital Investments Share Repurchases • New clubs • Annual repurchase • Remodels of ~1M shares • Re-equip existing clubs • Option to increase where • Technology appropriate • Inorganic growth 22
Slide 23: 2025 Outlook
2025 OUTLOOK • New club openings of between 160 and 170 • New equipment placements of between 130 and 140 in franchisee-owned locations • System-wide same club sales growth of approximately 6% ADJ. NET INCOME NET INTEREST CAPITAL REVENUE ADJ. EBITDA ADJ. NET INCOME PER DILUTED EXPENSE EXPENDITURES3
Slide 24: Appendix
APPENDIX 24
Slide 25: Proven & Experienced Management Team
PROVEN & EXPERIENCED MANAGEMENT TEAM COLLEEN KEATING Chief Execu tive Officer PAUL BARBER Chief Information Officer BILL BODE Chief Operating Officer • Joined June 2024 • Joined October 2022 • Joined October 2016 • Over 30 years of manageme nt experienc e • Over 20 years of IT leadership e xperience