After the Pandemic Halted Original Plans, Xponential Fitness Files for IPO
Xponential Fitness, Inc., owner of franchised boutique fitness brands that includes over 1,750 studios in North America, filed on Friday with the SEC to raise an estimated $100 million.
Xponential Fitness is the largest boutique fitness franchisor in the US that owns well-known boutique fitness companies such Club Pilates, Pure Barre, Rumble and CycleBar. The company had been rumored to go public last year but when the pandemic hit plans were halted. During the pandemic, Xponential Fitness turned to outdoor and digital programming to drive sales for its brands. Original plans anticipated Xponential to be valued at about $1.3 billion, Bloomberg News reported at the time. The company’s revenue was severely hit by COVID-19 with a net loss of $4.8 million on revenue of $29 million for the three months that ended March 31, compared with a loss of $1.9 million on revenue of $32 million in the first quarter of 2020.