Life Time Group Holdings, Inc. · NYSE:LTH
Life Time — Investor Day (May 2024)
126 slides from Life Time's investor day presentation, May 30, 2024
Slide 1: Investor & Analyst Day, May 30, 2024
MAY 30, 2024 MIDDLETOWN 1
Slide 2: Welcome to Life Time Investor & Analyst Day
MAY 30, 2024 Welcome to Life Time Investor & Analyst Day On behalf of our 39,000 team members 2
Slide 3: Forward-Looking Statements Safe Harbor
LEGAL Forward-Looking Statements Safe Harbor This presentation includes “forward-looking statements” within the meaning of federal securities regulations. Forward-looking statements in this presentation include, but are not limited to, the plans, strategies and prospects, both business and financial
Slide 4: Defined Terms Used in this Presentation
LEGAL Defined Terms Used in this Presentation Adjusted EBITDA is net income before interest expense, net, provision for (benefit from) income taxes and depreciation and amortization, excluding the impact of share-based compensation expense, (gain) loss on sale-leaseback transactions, capital transac
Slide 5: Agenda and presenters
YRS. WITH LTH WELCOME ERIC BUSS – EVP, CAO 24 YRS COMPANY HISTORY BAHRAM AKRADI – FOUNDER, CHAIRMAN & CEO THE BEST VERSION OF LIFE TIME STEVEN LARSON – SVP OF CLUB OPERATIONS JESSIE SYFKO – VP OF GROUP FITNESS AND STUDIO 29 YRS 2 YRS ERIK WEAVER – CFO (INTERIM) FINANCIAL OVERVIEW DANI MATZKE – VP OF
Slide 6: Housekeeping, Q&A session, lunch and tours
A FEW HOUSEKEEPING ITEMS Q & A SESSION We have left plenty of time to go through questions after the presentation To help with our webcast audience, please wait for the microphone before asking your question Please state your name and firm Please ask one question at a time. You may enter the queue m
Slide 7: Video
VIDEO 7
Slide 8: Company History
Company History 8
Slide 9: Vision, Creativity, Innovation, Resilience, Adaptation
COMPANY HISTORY VISION CREATIVITY INNOVATION RESILIENCE ADAPTATION MIDDLETOWN 9
Slide 10: What was the genesis behind the vision of Life Time?
COMPANY HISTORY What was the genesis behind the vision of Life Time? 10
Slide 11: Opportunity
COMPANY HISTORY OPPORTUNITY WHAT EXISTED? High Volume Clubs with low to no quality One-Off High-End Clubs, inefficiently designed and low volume 11
Slide 12: Solution
COMPANY HISTORY SOLUTION EAGAN - OPENED 1994 12
Slide 13: Member Point of View (MPV)
COMPANY HISTORY MEMBER POINT OF VIEW (MPV) HIGH QUALITY, HIGH VOLUME ADAPTABILITY FLEXIBILITY 13
Slide 14: Committed to the MPV while delivering financial results
COMPANY HISTORY We have always remained committed to the MPV while delivering great financial results to our investors ONE WALL ST 14
Slide 15: Revenue, Adjusted EBITDA and Rent
REVENUE ADJUSTED EBITDA (1) RENT 2,515 (All amounts shown in dollars and millions) 2,217 Government mandated closures & restrictions 1,900 1,823 1,749 1,593 1,475 1,354 1,291 1,318 1,206 1,127 306 1,014 948 913 837 275 770 611 656 166 512 125 114 537 104 245 390 34 71 438 33 421 32 383 312 36 395 36
Slide 16: Period 1: Immediate Success
COMPANY HISTORY 1994 - 2004 PERIOD 1: IMMEDIATE SUCCESS EAGAN - FIRST PROTOTYPE - LABOR DAY 1994 OUTPERFORMED BUSINESS PLAN EVERY YEAR 16
Slide 17: 35 Clubs
COMPANY HISTORY ORLAND PARK, IL EAGAN, MN FAIRFAX CITY, VA WOODBURY, MN CHAMPLIN, MN HIGHLAND PARK, MN BURR RIDGE, IL COON RAPIDS, MN SAVAGE, MN BLOOMINGTON NORTH, MN 35 CLUBS OLD ORCHARD, IL PLYMOUTH, MN CANTON TOWNSHIP, MI TROY, MI ROCHESTER HILLS, MI APPLE VALLEY, MN TEMPE, AZ EASTON, OH GILBERT,
Slide 18: Going Public, June 2004
COMPANY HISTORY JUNE 30 2004 GOING PUBLIC 18
Slide 19: Revenue, Adjusted EBITDA and Rent
REVENUE ADJUSTED EBITDA (1) RENT 2,515 (All amounts shown in dollars and millions) 2,217 Government mandated closures & restrictions 1,900 1,823 1,749 1,593 1,475 1,354 1,291 1,318 1,206 1,127 306 1,014 948 913 837 275 770 611 656 166 512 125 114 537 104 245 390 34 71 438 33 421 32 383 312 36 395 36
Slide 20: Period 2: Added Clubs
COMPANY HISTORY 2005 - 2008 PERIOD 2: ADDED 43 CLUBS STRATEGIC TAKEOVER IN 2006 20
Slide 21: Revenue, Adjusted EBITDA and Rent
REVENUE ADJUSTED EBITDA (1) RENT 2,515 (All amounts shown in dollars and millions) 2,217 Government mandated closures & restrictions 1,900 1,823 1,749 1,593 1,475 1,354 1,291 1,318 1,206 1,127 306 1,014 948 913 837 275 770 611 656 166 512 125 114 537 104 245 390 34 71 438 33 421 32 383 312 36 395 36
Slide 22: The Great Recession; Emergence of Boutique Fitness
COMPANY HISTORY Q4 2008 THE GREAT RECESSION 2010 - 2011 EMERGENCE OF BOUTIQUE FITNESS 22
Slide 23: Period 3: 2009 Hard Pivot
COMPANY HISTORY 2009 - 2013 PERIOD 3: 2009 HARD PIVOT FREE CASH FLOW POSITIVE ADDED 21 CLUBS* TAKE ON BOUTIQUES WITH BRANDED REVOLUTION *Average of 4 clubs per year 23
Slide 24: Consecutive years of free cash flow positive
COMPANY HISTORY Achieved 2 consecutive years of free cash flow positive 24
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Slide 26: Revenue, Adjusted EBITDA and Rent
REVENUE ADJUSTED EBITDA (1) RENT 2,515 (All amounts shown in dollars and millions) 2,217 Government mandated closures & restrictions 1,900 1,823 1,749 1,593 1,475 1,354 1,291 1,318 1,206 1,127 306 1,014 948 913 837 275 770 611 656 166 512 125 114 537 104 245 390 34 71 438 33 421 32 383 312 36 395 36
Slide 27: Undervalued Stock, Shareholder Activist, Unsolicited Offer
COMPANY HISTORY 2014 UNDERVALUED STOCK SHAREHOLDER ACTIVIST UNSOLICITED OFFER 27
Slide 28: Period 4: Op Co., Prop Co. Exploration
COMPANY HISTORY 2014 - 2015 PERIOD 4: OP CO., PROP CO. EXPLORATION VALUATION CORRECTED WENT PRIVATE AT $72.10 28
Slide 29: Revenue, Adjusted EBITDA and Rent
REVENUE ADJUSTED EBITDA (1) RENT 2,515 (All amounts shown in dollars and millions) 2,217 Government mandated closures & restrictions 1,900 1,823 1,749 1,593 1,475 1,354 1,291 1,318 1,206 1,127 306 1,014 948 913 837 275 770 611 656 166 512 125 114 537 104 245 390 34 71 438 33 421 32 383 312 36 395 36
Slide 30: Mall Transformation Opportunity
COMPANY HISTORY 2015 - 2016 MALL TRANSFORMATION OPPORTUNITY REIMAGINATION OF MULTI-FAMILY RESIDENTIAL EXPERIENCE (LIFE TIME LIVING) CREATION OF LIFE TIME WORK 30
Slide 31: Mall Transformations
COMPANY HISTORY BRAND EXTENSIONS MALL TRANSFORMATIONS BILTMORE 31
Slide 32: Brand Extensions
COMPANY HISTORY BRAND EXTENSIONS CLARENDON GREEN VALLEY 32
Slide 33: Providing attractive urban opportunities
COMPANY HISTORY Providing attractive urban opportunities CORAL GABLES STAMFORD ONE CHICAGO 33
Slide 34: Period 5: Raised $880M of Private Capital
COMPANY HISTORY 2016 - 2019 PERIOD 5: RAISED $880M OF PRIVATE CAPITAL $200M PRIMARY - $680M SECONDARY - 25% RETURN BRAND EXTENSIONS RECORD BREAKING STATISTICS 34
Slide 35: Revenue, Adjusted EBITDA and Rent
REVENUE ADJUSTED EBITDA (1) RENT 2,515 (All amounts shown in dollars and millions) 2,217 Government mandated closures & restrictions 1,900 1,823 1,749 1,593 1,475 1,354 1,291 1,318 1,206 1,127 306 1,014 948 913 837 275 770 611 656 166 512 125 114 537 104 245 390 34 71 438 33 421 32 383 312 36 395 36
Slide 36: Period 6: COVID
COMPANY HISTORY 2020 - 2022 PERIOD 6: COVID: Navigating & managing the unprecedented crisis FOCUS ON TEAM MEMBERS AND MEMBERS DEFEND THE BALANCE SHEET PROTECT & ELEVATE LT BRAND STRENGTHEN RELATIONSHIPS & PARTNERSHIPS 36
Slide 37: Reopening Q2 2020 – Q2 2022
COMPANY HISTORY REOPENING Q2 2020 – Q2 2022 100’S OF CLOSINGS AND REOPENINGS SEVERELY LIMITING RESTRICTIONS CUMULATIVE ADJUSTED EBITDA SWING OF $1.7B 2020 - 2024 37
Slide 38: Our Opportunity to Transform
COMPANY HISTORY OUR OPPORTUNITY TO TRANSFORM REPOSITION THE BRAND TO HIGHEST LEVEL LEISURE BUSINESS ELIMINATE SALES & PROMOTIONS REWIRE COMPANY STRUCTURE FEWER, BUT SIGNIFICANTLY ENGAGED MEMBERS 38
Slide 39: Our Opportunity to Invent
COMPANY HISTORY OUR OPPORTUNITY TO INVENT 39
Slide 40: Nation's largest Pickleball provider
COMPANY HISTORY Nation’s largest Pickleball provider 40
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41
Slide 42: 55+ community for active older adults
COMPANY HISTORY 55+ community for active older adults 42
Slide 43: Company History
COMPANY HISTORY SM 43
Slide 44: Company History
COMPANY HISTORY 44
Slide 45: Revenue, Adjusted EBITDA and Rent
REVENUE ADJUSTED EBITDA (1) RENT 2,515 (All amounts shown in dollars and millions) 2,217 Government mandated closures & restrictions 1,900 1,823 1,749 1,593 1,475 1,354 1,291 1,318 1,206 1,127 306 1,014 948 913 837 275 770 611 656 166 512 125 114 537 104 245 390 34 71 438 33 421 32 383 312 36 395 36
Slide 46: The best version of Life Time
The best version of Life Time 46
Slide 47: Highest Engagement in History
ENGAGEMENT THE BEST VERSION OF LIFE TIME Highest Engagement in History Avg. Visits per Membership Life Time’s ~138 Best Retention 108 2024 (1) 2019 (1) 2024 are estimates based upon management’s recent forecasts. MIAMI AT THE FALLS 47
Slide 48: The best Athletic Country Club Experience
OUR OFFERINGS THE BEST VERSION OF LIFE TIME Through the best people, programs and places, we provide the best Athletic Country Club Experience RANCH SAN CLEMENTE 48
Slide 49: An incomparable, innovative ecosystem
OUR OFFERINGS THE BEST VERSION OF LIFE TIME With an incomparable, innovative ecosystem 49
Slide 50: Pickleball Statistics
PICKLEBALL STATISTICS THE BEST VERSION OF LIFE TIME Q1 2023 Q1 2024 478 668 Dedicated Courts Dedicated Courts 7.4% 10.7% Member Penetration Member Penetration 0.7M 1.2M Participations Participations 50
Slide 51: Small Group Training Statistics
SMALL GROUP TRAINING STATISTICS THE BEST VERSION OF LIFE TIME Q1 2023 Q1 2024 84K 115K Classes Classes 20.7% 25.1% Member Penetration Member Penetration 0.8M 1.2M Participations Participations 51
Slide 52: Dynamic Personal Training Statistics
DYNAMIC PERSONAL TRAINING STATISTICS THE BEST VERSION OF LIFE TIME SM Q1 2023 Q1 2024 480K 524K Sessions Delivered Sessions Delivered 3,299 5,702 # of Trainer applicants # of Trainer applicants 3,051 3,459 # of Trainers # of Trainers 52
Slide 53: ARORA Statistics
ARORA STATISTICS THE BEST VERSION OF LIFE TIME Q1 2023 Q1 2024 18K 26K Classes Classes 11.1% 14.4% 55+ Member Penetration 55+ Member Penetration 338K 545K Participations Participations 53
Slide 54: Getting more impressions than ever
THE BEST VERSION OF LIFE TIME Getting more impressions than ever Total Company Media Impressions (1) ~133B 2024 Estimated ~123B 2023 ~65B 2019 (1) Source: Cision, Meltwater, Burrelles; 2024 based on management’s estimate. 54
Slide 55: Spending less on marketing
THE BEST VERSION OF LIFE TIME While we’re spending less on marketing Advertising & Marketing Spend as a % of Total Revenue 3.5% Avg. 2004 - 2019 ↓ ↓ 1.5% 2023 1.4% 2024 Estimated (1) (1) 2024 based on management’s estimate. 55
Slide 56: The best version of Life Time
THE BEST VERSION OF LIFE TIME The best version of Life Time Advertising & Marketing Spend as a % of Total Revenue Retention 3.5% Avg. 2004 - 2019 Life Time’s ↓ Best Retention 1.4% 2024 Estimated (1) (1) 2024 based on management’s estimate. 56
Slide 57: Financial Overview
Financial Overview 57
Slide 58: Embedded Opportunity in Clubs Open as of December 2023
FINANCIAL OVERVIEW EMBEDDED OPPORTUNITY IN 171 CLUBS OPEN AS OFDECEMBER 2023 58
Slide 59: Mature Center Embedded Opportunity
FINANCIAL OVERVIEW Mature Center Embedded Opportunity 141 $230M-$240M $100M-$110M Mature Centers Incremental Center Revenue by 2026 Incremental Center Level Contribution by 2026 AUSTIN SOUTH 59
Slide 60: Ramping Center Embedded Opportunity
FINANCIAL OVERVIEW Ramping Center Embedded Opportunity 30 $220M-$230M $150M-$160M Centers in Some Stage of Ramp Incremental Center Revenueby 2026 Incremental Center Level Contribution by 2026 WELLINGTON 60
Slide 61: Total Embedded Opportunity for Centers
FINANCIAL OVERVIEW Total Embedded Opportunity for 171 Centers as of December 31, 2023 Center Revenue Center Level Contribution $450M - $470M $250M - $270M 61
Slide 62: Embedded Opportunity in Capital Invested for Undeployed Assets
FINANCIAL OVERVIEW EMBEDDED OPPORTUNITY IN CAPITAL INVESTED FOR UNDEPLOYED ASSETS 62
Slide 63: Embedded Opportunity in Undeployed Assets
FINANCIAL OVERVIEW Embedded Opportunity in Capital Invested for Undeployed Assets Capital Invested as of December 31, 2023 Estimated Results at Maturity $353M $106M - $124M Center Level Contribution at Maturity SHENANDOAH 63
Slide 64: Free Cash Flow
FINANCIAL OVERVIEW FREE CASH FLOW (01) Generating free cash flow 2024 and beyond 64
Slide 65: Path to Generating Positive Free Cash Flow
FINANCIAL OVERVIEW Path to Generating Positive Free Cash Flow ($ in millions) 2024 Projections Operating Cash Flow Low High Adjusted EBITDA (1)(2) $603 $618 Plus: Non-cash rent expense $30 $30 Less: Cash interest paid (3) ($128) ($126) Less: Cash taxes paid (3) ($12) ($14) Net cash provided by opera
Slide 66: Understanding Average Return on Capital
FINANCIAL OVERVIEW UNDERSTANDING AVERAGE RETURN ON CAPITAL 66
Slide 67: Average Return on Capital
FINANCIAL OVERVIEW Average Return on Capital CENTERS OPENED JUNE 2015-2020 Asset Light Center Returns (2) 38 $294M Centers Opened Center Level Contribution $90M 33 Rent Expense Leased (1) $627M 5 Net Invested Capital Owned 33% Return on invested capital, net (1) Leased centers include 33 centers ope
Slide 68: Long-Term Financial Algorithm
FINANCIAL OVERVIEW LONG-TERM FINANCIAL ALGORITHM (01) General framework for modeling 68
Slide 69: Modeling the Value Creation
FINANCIAL OVERVIEW Modeling the Value Creation Revenue & Adjusted EBITDA(1) Long-term Financial Algorithm ($ in millions) Revenue Adjusted EBITDA Revenue & Adjusted EBITDA Revenue: • Low double digit growth 10% - 12% • 4% - 5% growth from fully ramped centers $2,515 • 6% - 7% growth from new an
Slide 70: Recession Resistant Model
FINANCIAL OVERVIEW RECESSION RESISTANT MODEL (01) Current Demographics (02) The Great Recession 70
Slide 71: Recession Resistant Model
FINANCIAL OVERVIEW Recession Resistant Model CURRENT DEMOGRAPHICS(1) THE GREAT RECESSION Retention at highest priced centers $157,000 30% Higher Member Median Household Income Than retention at lowest priced centers Median Income is 1.6X Respective Trade Area (1) Data as of May 2024. SCOTTSDALE FASH
Slide 72: Revenue Mix
FINANCIAL OVERVIEW REVENUE MIX (01) Strategic shift (02) Expectations going forward 72
Slide 73: Predictable and Recurring Subscription Based Revenue Model
FINANCIAL OVERVIEW Predictable and Recurring Subscription Based Revenue Model Center Revenue ($ in millions) Membership Dues + Enrollment Fees In-Center Revenue (01) Strategic shift to more robust subscription offering Government mandated shutdowns & restrictions $2,440 $2,154 $660 (02) $1,703 $1,85
Slide 74: Membership Dues Opportunity
FINANCIAL OVERVIEW MEMBERSHIP DUES OPPORTUNITY (01) Churn impact (02) Legacy pricing power 74
Slide 75: Membership Dues Opportunity
FINANCIAL OVERVIEW Membership Dues Opportunity $184 $215 (1) (1) Avg, Dues New Join Rate $19M (2) Monthly dues revenue opportunity if all memberships were increased to rack rate (1) Data as of March 31, 2024 for centers open through 2023. WALNUT CREEK, CA (2) Data as of May 20, 2024. 75
Slide 76: Life Time Property Development
Life Time Property Development 76
Slide 77: Video
VIDEO 77
Slide 78: Creating pathways to every market with consistent ROIC
PROPERTY DEVELOPMENT Creating pathways to every market with consistent ROIC LAND & CONSTRUCTION CONTRIBUTIONS FROM: MALL OWNERS MULTI-FAMILY RESIDENTIAL DEVELOPERS OFFICE OWNERS/DEVELOPERS COMPETITOR TAKEOVERS GROUND-UP DEVELOPMENT LAS COLINAS 78
Slide 79: Modern Day Mall Anchor
PROPERTY DEVELOPMENT LANDLORD BENEFITS LEVERAGE OUR PREMIUM BRAND STRONG MEMBER DEMOGRAPHICS Modern Day 3,000+ DAILY VISITS Mall Anchor LIFE TIME BENEFITS IDEAL LAND LOCATIONS CASH CONTRIBUTIONS TOWARD CONSTRUCTION WALNUT CREEK 79
Slide 80: Life Time X Multi-Family
PROPERTY DEVELOPMENT LANDLORD BENEFITS DRIVE INCREASED RESIDENTIAL RENTS ACCELERATE LEASE-UP Life Time IMPROVE RENEWAL METRICS X LIFE TIME BENEFITS Multi-Family CASH CONTRIBUTIONS TOWARD CONSTRUCTION TURN-KEY CLUB DELIVERY PREFERRED RENT STRUCTURES RIVER NORTH 80
Slide 81: Success of the Life Time Living Model
PROPERTY DEVELOPMENT SUCCESS OF THE LIFE TIME LIVING MODEL: LEASE-UP IN HALF THE TIME OF MARKET NORMS 25-30% RENT PREMIUMS COMPARED TO BEST-IN-CLASS COMPS AVERAGE RENEWAL RATE 80% 81
Slide 82: Industry Opportunities
PROPERTY DEVELOPMENT Industry Opportunities LANDLORDS ACTIVELY SEEKING LIFE TIME NEW MARKETS AT REDUCED COSTS CONSTRUCTION CONTRIBUTIONS 1 IN 5 LOCATIONS WERE FORMER COMPETITORS LAKESHORE IRVINE 82
Slide 83: Reimagining Office Space
PROPERTY DEVELOPMENT LANDLORD BENEFITS Reimagining SUBURBAN OFFICE PARK REDEVELOPMENT URBAN OFFICE AMENITY Office REPURPOSING OFFICE SPACE Space LIFE TIME BENEFITS ACCESS TO DENSE MARKETS PREFERRED RENT STRUCTURES CASH CONTRIBUTIONS TOWARD CONSTRUCTION 83
Slide 84: Success of Life Time Work
PROPERTY DEVELOPMENT SUCCESS OF LIFE TIME WORK: 20% AVERAGE PRICING PREMIUMS ABOVE NEAREST COMPETITORS VALUE LEVERAGED TO REDUCE CLUB COSTS MANAGEMENT AGREEMENTS ELIMINATE UPFRONT COSTS 84
Slide 85: Ground-up Development
PROPERTY DEVELOPMENT Ground-up Development SUBURBAN MARKETS RELIABLE GROWTH 66 SALE-LEASEBACKS EXECUTED ($2.3B) 75%+ OF GROSS INVESTED CAPITAL RECOUPED BEAVERTON 85
Slide 86: Video
VIDEO 86
Slide 87: White Space is Expanding Faster than Life Time
WHITE SPACE LIFE TIME PROPERTY DEVELOPMENT White Space is Expanding Faster than Life Time 87
Slide 88: Vision, Creativity, Innovation, Resilience, Adaptation
VISION CREATIVITY INNOVATION RESILIENCE ADAPTATION MIDDLETOWN 88
Slide 89: Brand Expansion & Innovation
Brand Expansion & Innovation 89
Slide 90: Digital
DIGITAL ® 90
Slide 91: Life Time Digital: Our Right to Win
LIFE TIME DIGITAL OUR RIGHT TO WIN Content Subscribers DIGITAL® Technology DIGITAL ® 91
Slide 92: Life Time Digital Experience
LIFE TIME DIGITAL EXPERIENCE LT TALKS LIFE WORKOUTS/ ATHLETIC PROGRAMS LEARN EVENTS T E M PE C O ON DEMAND DIGITAL® RELAX MEDITATION VE MO SH O P + ER VIS C OV IT LIVE DIS STREAMING LT SHOP L•AI•C GUEST ACCESS 92
Slide 93: Video
VIDEO 93
Slide 94: Our Vision
LIFE TIME DIGITAL OUR VISION Empower more people, anytime, anywhere to live healthier, happier lives. DIGITAL ® 94
Slide 95: Life Time Digital: Our Right to Win
LIFE TIME DIGITAL OUR RIGHT TO WIN Content Subscribers DIGITAL® Technology DIGITAL ® 95
Slide 96: 30 years of content creation, One Ecosystem
LIFE TIME DIGITAL CONTENT 30 years of content creation One Ecosystem 96
Slide 97: Core business provides subscriber opportunities
LIFE TIME DIGITAL SUBSCRIBERS Core business provides subscriber opportunities CLASSES COMMUNITY EVENTS 97
Slide 98: 600,000 subscribers as of May 2024
LIFE TIME DIGITAL 600,000 subscribers as of May 2024 (1) DIGITAL ONLY SUBSCRIBERS Aug ‘23 Sept ‘23 Oct ‘23 Nov ‘23 Dec ‘23 Jan ‘24 Feb ‘24 Mar ‘24 Apr ‘24 May ‘24 (1) Total combined free digital, former access and on-hold subscribers as of May 2024. 98
Slide 99: Dedicated technology company
LIFE TIME DIGITAL TECHNOLOGY Dedicated technology company 99
Slide 100: Unreplicable Ecosystem
LIFE TIME DIGITAL Unreplicable Ecosystem DIGITAL ® 100
Slide 101: The Life Time App: Experience Life
LIFE TIME DIGITAL THE LIFE TIME APP ← BACK ••• Experience Life 101
Slide 102: The Life Time App
LIFE TIME DIGITAL THE LIFE TIME APP ← BACK ••• ALLISSA : 7P DUMBO NYC 102
Slide 103: The Life Time App
LIFE TIME DIGITAL THE LIFE TIME APP ← BACK ••• JESSIE S. 103
Slide 104: The Life Time App
LIFE TIME DIGITAL THE LIFE TIME APP ← BACK ••• 104
Slide 105: The Life Time App
LIFE TIME DIGITAL THE LIFE TIME APP ← BACK ••• EP3 S8 WHY YOU NEED CRYOTHERAPY 105
Slide 106: The Life Time App: Stress Release
LIFE TIME DIGITAL THE LIFE TIME APP ← BACK ••• 10 MINS STRESS RELEASE MEDITATION BASICS 106
Slide 107: The Life Time App
LIFE TIME DIGITAL THE LIFE TIME APP ← BACK ••• 3 MINS 3RD SHOT DRIVE BEN JOHNS 107
Slide 108: Digital Brand Extensions
LIFE TIME DIGITAL BRAND EXTENSIONS DIGITAL ® 108
Slide 109: Undeniable Opportunity
BRAND EXTENSIONS UNDENIABLE OPPORTUNITY HEALTHY WAY OF LIFE ANYTIME, ANYWHERE 109
Slide 110: Impressions, visits and trusted brand
BRAND EXTENSIONS ~133B+ IMPRESSIONS & GROWING (1) ~110M VISITS PER YEAR (1) TRUSTED BRAND EXPANDING CONTENT GROWING SUBSCRIBERS BUILT-IN TECHNOLOGY (1) 2024 based on management’s estimate. 110
Slide 111: Shop
BRAND EXTENSIONS bss* SHOP
Slide 112: The digital store with a competitive advantage
BRAND EXTENSIONS The digital store with a competitive advantage 112
Slide 113: Built-in Customer, Sales Force, Technology
BRAND EXTENSIONS Built-in Customer Built-in Sales Force Built-in Technology 113
Slide 114: LTH Co-Branded Partnerships
BRAND EXTENSIONS ( 01 ) ( 02 ) ( 03 ) LTH CO-BRANDED PARTNERSHIPS 114
Slide 115: Introducing
BRAND EXTENSIONS INTRODUCING 115
Slide 116: We Built the Best
BRAND EXTENSIONS WE BUILT THE BEST 116
Slide 117: Committed to delivering superior quality and the best products
BRAND EXTENSIONS Commited to delivering superior quality and the best products 100% POST-CONSUMER RECYCLED PACKAGING SEEDED PLANT-ABLE BOX BOTTOM REUSABLE AMBER GLASS BOTTLE DESIGNED FOR FLEXIBILITY + COST OPTIMIZED PACKAGING FOR AUTOSHIP 117
Slide 118: Built-in Sales Force, Customer, Layer-less Profit
BRAND EXTENSIONS ( 01 ) ( 02 ) ( 03 ) Built-in Sales Force Built-in Customer Layer-less Profit 118
Slide 119: Co-Branded & Partnerships
BRAND EXTENSIONS CO-BRANDED & PARTNERSHIPS 119
Slide 120: Brand Extensions
= BRAND EXTENSIONS #7 yperice
Slide 121: Bringing the best products to anyone, anytime, anywhere
BRAND EXTENSIONS Bringing the best products to anyone, anytime, anywhere 121
Slide 122: Brand Extensions
BRAND EXTENSIONS 122
Slide 123: Q&A
Q&A 123
Slide 124: Closing Comments
Closing Comments 124
Slide 125: Appendix
APPENDIX 125
Slide 126: Reconciliation of Net Income (Loss) to Adjusted EBITDA
RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBITDA (data in dollars and millions) 1994 1998 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Net income (loss) 0.3 3 29 41 51 68 72 71 80 92 111 121 114 (43) 38 163 41 30 (360) (579) (2) 76 Interes