Xponential Fitness, Inc. · NYSE:XPOF
Xponential Fitness — Q4 2023 Earnings Presentation
16 slides from Xponential Fitness's earnings presentation, Feb 29, 2024
Slide 1: Q4 2023 Financial Results
The Largest Global Franchisor of Health & Wellness Brands Q4 2023 FINANCIAL RESULTS As of December 31st, 2023 Reported on February 29th, 2024
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: 2023 Key Operating Metrics
2023 Key Operating Metrics(1) Global Studios Global Licenses 3,062 6,255 +16% YoY +15% YoY 1) YoY comparison refers to Q4 2022. Includes Stride, but does not include Lindora.
Slide 4: 2023 Key Operating Metrics
2023 Key Operating Metrics(1) System-Wide Sales Same Store Sales Total Members $1.4B %(2) 717K +36% YoY +16% +21% +YoY Greater Than 36 Months +17% 1) YoY comparison refers to Q4 2022. Total Members, same store sales and system-wide sales represents North America only. 2) Same store sales refer to pe
Slide 5: North America Run-Rate Average Unit Volumes
North America Run-Rate Average Unit Volumes(1) ($000s) $590 $561 $564 $542 $522 $477 $480 $489 $446 $450 $431 $417 $384 $287 $303 $246 $165 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q4-21 1) Quarterly Run-Rate AUV (“average unit volume”) is calcu
Slide 6: 2023 Key Operating Metrics
2023 Key Operating Metrics(1) Revenue Adj. EBITDA $319M $105M +30% YoY +42% YoY 1) YoY comparison refers to 2022. All metrics include Stride, but do not include Lindora.
Slide 7: Introducing Lindora
Introducing Lindora • Leading provider of medically guided wellness & metabolic health solutions • 30 locations in Southern California; one in Washington(1) Further solidifies Xponential’s • Existing locations became Xponential expansion into health and wellness franchisees • Brand to be franchised
Slide 8: Income Statement
Income Statement In $ thousands, except per share amounts Q4 2023 Q4 2022 $ Difference % Change 2023 2022 $ Difference % Change System-wide Sales (North America) $384,581 $294,077 $90,505 31% $1,400,335 $1,033,240 $367,096 36% Revenue: Franchise revenue $39,091 $32,158 $6,933 22% $143,615 $115,286 $
Slide 9: Adjusted Net Earnings per Share
Adjusted Net Earnings per Share In thousands, except per share amounts Q4 2023 Q4 2022 2023 2022 Net income (loss) ($9,075) ($367) ($1,713) $2,875 Acquisition and transaction expenses (income) ($531) $8,231 ($17,964) $2,440 TRA remeasurement $96 ($1,112) $3,193 $523 Impairment of goodwill and other
Slide 10: Adjusted EBITDA Margin
Adjusted EBITDA Margin In $ thousands Q4 2023 Q4 2022 2023 2022 Net income (loss) ($9,075) ($367) ($1,713) $2,875 Interest expense, net $11,069 $3,361 $37,122 $11,212 Income taxes $859 $684 $1,071 $526 Depreciation and amortization $4,182 $4,090 $16,883 $15,315 EBITDA $7,035 $7,768 $53,363 $29,928 E
Slide 11: 2023 License Sales and New Studios
2023 License Sales and New Studios “Scaled” Brands: >150 open studios in North America. Includes Club Pilates, CycleBar, Pure Barre, Stretch Lab, and Yoga Six “Growth” Brands: <150 open studios in North America. Includes Row House, AKT, Stride(1), Rumble and BFT. 1) Non-Traditional includes studios
Slide 12: 2023 North American System-Wide Sales
2023 North American System-Wide Sales(1) “Scaled” brands: • 92% of open studios • 95% of system-wide sales 1) Percentages are rounded, so total may not equal 100%. All data represents North America. All metrics include Stride, but do not include Lindora.
Slide 13: Scaled Brands: 2023 North American 6+ Month Run Rate AUVs
“Scaled” Brands: 2023 North American 6+ Month Run Rate Average Unit Volumes(1) ($000's) “Total” represents entire 10 brand portfolio 1) Quarterly Run-Rate AUV (“average unit volume”) is calculated by taking the average sales during the quarter for all North America traditional studio locations that
Slide 14: Scaled Brands: 2023 North American Same Store Sales
“Scaled” Brands: 2023 North American Same Store Sales(1) “Total” represents entire 10 brand portfolio 1) Same store sales refer to period-over-period sales comparisons for the base of studios. In accordance with industry standard, we define the same store sales base to include studios in North Ameri
Slide 15: FY 2024 Guidance
FY 2024 Guidance We define Adjusted EBITDA as EBITDA (net income/loss before interest, taxes, depreciation and amortization), adjusted for the impact of certain non-cash and other items that we do not consider in our evaluation of ongoing operating performance. These items include equity-based compe
Slide 16: 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.