Xponential Fitness reports 58% increase in revenue for 2022

USA-based Xponential Fitness has reported US$245 million in revenue in 2022 - a 58% increase on the previous year - during which it saw 511 new studio openings across its total franchised estate around the world and the sale of 1,026 franchise licenses.

Overall, Xponential - whose brands include BFT, Rumble, StretchLab, Club Pilates, CycleBar, Pure Barre, Row House, YogaSix, AKT and STRIDE Fitness - broke the billion dollar barrier with US$1.03 billion in sales system-wide.

Xponential, which gets 9% of these sales in fees, expects to open between 540 and 560 new sites during 2023.

In the fourth quarter of 2022, Xponential posted an adjusted EBITDA4 of US$22.2 million, compared to US$8.6 million in the previous year.

Commenting on the results, Xponential Fitness founder and Chief Executive, Anthony Geisler explained “during 2022, we opened a new studio approximately every 17 hours, and system-wide sales surpassed US$1 billion for the first time.

“I could not be prouder of all of our franchisees and employees for making this success possible.

"The momentum we experienced in the fourth quarter, including double-digit growth across same store sales, membership and AUVs, has continued into the new year.

"In fact, our membership base reached a new milestone of 600,000 in January. As evident by our 2023 guidance, we’re looking forward to delivering more growth and value for our stakeholders.”

Looking ahead, Geisler expects revenue in the range of US$285 million to US$295 million and adjusted EBITDA in the range of US$101 million to US$105 million this year.

In its latest investor presentation, the company highlighted longer term growth targets of 500 plus annual net new studio openings, revenue growth in the 'low- to mid-teens', EBITDA growth of 20-25% and adjusted EBITDA of 40-45%.

Images: BFT, the most recent brand to join the Xponential portfolio, opened its first studio in London in January (top) and Xponential Fitness' Anthony Geisler (below).