Xponential Fitness Enters 2023 ‘Fully Energized,’ says CEO, Providing 2022 Operating Highlights
Xponential Fitness grew its total members and studio visits by 32% and surpassed 2,600 open fitness studios
Xponential Fitness is coasting smoothly into the new year, announcing that it will meet or exceed its full year 2022 outlook, further solidifying its position in the fitness industry.
The global franchisor of boutique fitness brands Club Pilates, CycleBar, StretchLab, Row House, AKT, YogaSix, Pure Barre, STRIDE, Rumble, and BFT, provided 2022 operating highlights and participated in the ICR 2023 Conference this month in Orlando, Florida.
Xponential will also participate in an upcoming conference on January 22-24 in Beaver Creek, Colorado, at the Jefferies Winter Restaurant, Foodservice, Gaming, Lodging, and Leisure Summit.
“It was inspiring to see the enthusiasm shared by the more than 2,000 attendees who participated in our annual convention last month,” said Anthony Geisler, CEO of Xponential Fitness, Inc.
“This enthusiasm is no doubt rooted in Xponential’s strong annual performance. Double-digit growth across membership, same store sales and AUV compared to the prior year depict a business that is firing on all cylinders,” he said. “We enter the new year fully energized, and I could not be prouder of our team and franchisees for the success we achieved together in 2022.”
According to Xponential’s investor presentation, the fitness franchisor opened over 2,600 studios and sold over 5,400 licenses across its ten brands for the full year, with XPOF members growing by 32% to 590k.
The typical Xponential consumer is female, the franchisor reports, between 20-60 years old, and holds a Bachelor’s degree with a yearly household income of around $130k. Roughly 90% of Xponential’s members have recurring memberships.
Xponential also announced it entered into a privately negotiated preferred stock repurchase agreement with certain holders of its outstanding Convertible Preferred Stock.
The fitness franchisor continues to grow, with 63% of the U.S. population living within ten miles of an Xponential studio. Most recently, XPOF’s Body Fit Training (BFT), a functional and strength training concept, announced its entry into the North American fitness market, with plans to open its first studio in Canada and 12 major cities in the United States. Xponential acquired the strength-based fitness brand in 2021.
The LA Fitness agreement is another growth driver, allowing for XPOF studios in over 500 gym locations. The partnership, which grants the boutique fitness franchisor the exclusive rights to open its brand studios in LA Fitness locations, is seeing “strong interest,” Geisler reported last summer.
Looking ahead, Xponential Fitness will develop within high-traffic zones in collaboration with Aktiv Solutions, a functional fitness facility design and supply company. Together, the two will create immersive exercise equipment experiences designed for resorts, hotels, high-end multi-family housing properties and universities, and corporate campuses.
In early March, Xponential Fitness will report fourth-quarter and full-year 2022 results, as well as provide a full-year 2023 outlook.
