Xponential Fitness, Inc. · NYSE:XPOF
Xponential Fitness — Q1 2023 Earnings Presentation
12 slides from Xponential Fitness's earnings presentation, May 4, 2023
Slide 1: Q1 2023 Financial Results
Q1 2023 FINANCIAL RESULTS A s o f M a r c h 3 1 st, 2 0 2 3 | R e p o r t e d o n M a y 4 th, 2 0 2 3
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER The information contained in this presentation is provided solely for the purpose of acquainting the readers with Xponential Fitness, Inc. (the “Company,” “Xponential” or “we”) and its business operations, strategies and financial performance. This presentation and any accompanying
Slide 3: Q1 2023 Key Operating Metrics
Q1 2023 Key Operating Metrics(1) System-Wide Sales Same Store Sales Total Members $318M % 665K +42% YoY +20% +31% +YoY Greater Than 36 Months +21% 1) YoY comparison refers to Q1 2022. Total Members, same store sales and system-wide sales represents North America only. 3
Slide 4: North America Run-Rate Average Unit Volumes
North America Run-Rate Average Unit Volumes(1) ($000s) $522 $542 $477 $480 $489 $431 $446 $450 $417 $384 $287 $303 $246 $165 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q4-19 Q1-20 1) Quarterly Run-Rate AUV (“average unit volume”) is calculated by taking the average sales
Slide 5: Q1 2023 Key Operating Metrics: Revenue and Adj. EBITDA
Q1 2023 Key Operating Metrics(1) Revenue Adj. EBITDA $71M $23M +40% YoY +58% YoY 1) YoY comparison refers to Q1 2022. 5
Slide 6: Q1 2023 Key Operating Metrics: Global Studios and Licenses
Q1 2023 Key Operating Metrics(1) Global Studios Global Licenses 2,756 5,638 +24% YoY +20% YoY 1) YoY comparison refers to Q1 2022. 6
Slide 7: Increasing System-Wide Sales and AUVs: B2B Partnerships
Increasing System-Wide Sales and AUVs B2B Partnerships Connecting with the consumer on their fitness journeys when and where they want 7
Slide 8: Income Statement
Income Statement In $ thousands, except per share amounts Q1 2023 Q1 2022 $ Difference % Change System-wide Sales (North America) $317,752 $224,545 $93,207 42% Revenue: Franchise revenue $32,966 $25,500 $7,466 29% Equipment revenue $13,094 $7,779 $5,315 68% Merchandise revenue $7,164 $6,083 $1,081 1
Slide 9: Adjusted Net Loss per Share
Adjusted Net Loss per Share In thousands, except per share amounts Q1 2023 Q1 2022 Net loss ($14,979) ($15,179) Change in fair value of contingent consideration $15,742 $9,546 TRA remeasurement $554 $313 Adjusted net income (loss) $1,317 ($5,320) Adjusted net income (loss) attributable to noncontrol
Slide 10: Adjusted EBITDA Margin
Adjusted EBITDA Margin In $ thousands Q1 2023 Q1 2022 Net loss ($14,979) ($15,179) Interest expense, net $7,341 $2,472 Income tax benefit ($123) ($2,067) Depreciation and amortization $4,197 $3,492 EBITDA ($3,564) ($11,282) Equity-based compensation $6,056 $15,248 Employer payroll taxes related to e
Slide 11: FY 2023 Guidance
FY 2023 Guidance Low Range High Range % Change vs 2022 ($ in millions) 2022 Guidance Guidance at Midpoint Net New Studio Openings (Global) 540 560 511 8% System-wide Sales (North America) $1,370 $1,380 $1,033 33% Prior - Q4 2022 $1,340 $1,350 30% Revenue $290 $300 $245 20% Prior - Q4 2022 $285 $295
Slide 12: Q&A
Q&A Please see the FAQ section at investor.xponential.com for a list of commonly asked questions on our corporate structure and capitalization.