Xponential Fitness, Inc., the largest global franchisor of boutique fitness brands, has announced its financial results for the third quarter of 2023. The company reported a 26% increase in revenue, reaching $80.4 million. North America system-wide sales grew by 35% to $356.7 million, with same-store sales in North America increasing by 15%. The company also reported a net loss of $5.2 million, compared to a loss of $13.1 million in the same period last year. Adjusted net income for the quarter was $6.0 million. Xponential Fitness also announced its 2023 outlook, raising its guidance for revenue and tightening the top end ranges for new studio openings, system-wide sales, and Adjusted EBITDA. The company expects to open 550 to 560 new studios in 2023, with North America system-wide sales projected to be between $1.390 billion and $1.395 billion. Revenue for the year is expected to be between $305.0 million and $310.0 million, and Adjusted EBITDA is projected to be between $104.5 million and $106.5 million. As of September 30, 2023, Xponential Fitness had approximately $51.9 million in cash and cash equivalents and $329.7 million in total long-term debt.
