Slide 1: Life Time Reports First Quarter 2026 Financial Results
May 5, 2026 Life Time Reports First Quarter 2026 Financial Results Total revenue of $788.7 million increased 11.7% over the prior year quarter Net income of $88.1 million increased 15.8% over the prior year quarter Diluted EPS of $0.39 increased 14.7% over the prior year quarter Adjusted net income
Slide 2: First Quarter 2026 Information
including from improved membership mix, membership growth in our new and ramping centers and higher member utilization of our in-center offerings, particularly in Dynamic Personal Training. Center memberships of 837,903 increased by 11,529, or 1.4%, when compared to March 31, 2025, and increased by
Slide 3: Liquidity and Capital Resources; 2026 Outlook
Liquidity and Capital Resources Our net debt leverage ratio improved to 1.6 times as of March 31, 2026, from 2.0 times as of March 31, 2025. As of March 31, 2026, our total available liquidity was $736.9 million, which included $616.9 million of availability on our $650.0 million revolving credit fa
Slide 4: Conference Call Details
and net of $28 million to $30 million of capitalized interest expense related to construction in progress. This is an increase from $56 million to $60 million, net of $33 million to $35 million of capitalized interest expense related to construction in progress. Year-end weighted-average diluted com
Slide 5: Use of Non-GAAP Financial Measures
with GAAP, including Adjusted net income, Adjusted net income per common share, Adjusted EBITDA, free cash flow and net debt and ratios and calculations with respect thereto. These non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles and should be cons
Slide 6: Forward-Looking Statements
results as reported under GAAP. Forward-Looking Statements This press release includes "forward-looking statements" within the meaning of federal securities regulations. Forward-looking statements in this press release include, but are not limited to, the Company's plans, strategies and prospects, b
Slide 7: Condensed Consolidated Statements of Operations
Center revenue $ 767,566 $ 685,654 Other revenue 21,134 20,387 Total revenue 788,700 706,041 Operating expenses: Center operations 406,704 370,987 Rent 89,891 81,165 General, administrative and marketing 59,631 57,847 Depreciation and amortization 80,693 70,919 Other operating expense 16,943 17,453
Slide 8: Condensed Consolidated Balance Sheets and Cash Flows
Deferred income taxes, net 182,122 172,217 Other liabilities 55,105 58,561 Total liabilities 4,886,599 4,881,740 Stockholders' equity: Common stock, $0.01 par value per share; 500,000 shares authorized; 222,447 and 221,077 shares issued and outstanding, respectively 2,225 2,211 Additional paid-in ca
Slide 9: Membership Data and Revenue Data
($ in thousands, except for Average Center revenue per center membership data) (Unaudited) Three Months Ended March 31, 2026 2025 Membership Data Center memberships 837,903 826,374 On-hold memberships 50,147 53,377 Total memberships 888,050 879,751 Revenue Data Membership dues and enrollment fees 73
Slide 10: Adjusted Net Income Reconciliation
(5) Net income margin is calculated as net income divided by total revenue. (6) We present Adjusted net income as a supplemental measure of our performance. We define Adjusted net income as net income excluding the impact of share-based compensation expense as well as (gain) loss on sale-leaseback t
Slide 11: Adjusted EBITDA Reconciliation
Three Months Ended March 31, ($ in thousands) 2026 2025 Net income $ 88,098 $ 76,142 Interest expense, net of interest income 15,697 25,107 Provision for income taxes 31,169 6,405 Depreciation and amortization 80,693 70,919 Share-based compensation expense (a) 10,548 11,909 Capital transaction costs
Slide 12: Reconciliation of Net Debt and Leverage Calculation
Adjusted EBITDA $ 860,242 $ 722,391 Reconciliation of Net Debt and Leverage Calculation ($ in thousands) (Unaudited) Twelve Twelve Months Ended Months Ended March 31, 2026 March 31, 2025 Current maturities of debt $ 20,705 $ 22,732 Long-term debt, net of current portion 1,482,099 1,498,106 Total Deb