Xponential Fitness lowers FY2024 outlook; Q2 revenue flat, net loss of $13.7M

Xponential Fitness, Inc.

2024-Q2 EPS reported -$0.59 revenue$6,553,000

Revenue $76.5M (-1% YoY); net loss of $13.7M vs net income of $27.5M in Q2 2023.
Adjusted EBITDA $25.4M vs $25.3M; adjusted net income $0.7M, or loss $0.03 per basic share.
Reduced FY2024 guidance: studio openings 500-520 (prev 540-560), revenue $310-320M (prev $340-350M), Adj. EBITDA $120-124M (prev $136-140M).
Same store sales growth slowed to 7% from 15% YoY; total members up 17% to 801,000.
Impairment of goodwill and assets of $12.1M, primarily related to CycleBar brand.

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