PureGym, the U.K.-based fitness chain that recently entered the U.S., reported adjusted EBITDA (earnings before interest, taxes and depreciation) grew 23 percent in the first half on a 6 percent revenue gain.

PureGym, whose investors include Leonard Green & Partners and KKR, in late 2024 acquired Blink’s corporate operations and New York and New Jersey locations and began converting those locations to the PureGym model in late 2025. PureGym has 728 total locations worldwide, including 467 in the UK, 128 in Denmark, 61 in the U.S., and 49 in Switzerland.

PureGym said in its financial statement, “It w  as an excellent performance for the Group with a significant increase in adjusted EBITDA in all markets, most notably in the USA following continued good progress on the integration of Blink Fitness. Profitability in Denmark also improved substantially following the successful rationalization in this market, and ongoing expansion in the UK and Switzerland continues to deliver strong growth. PureGym continues to respond effectively to consumer demands, reflected in its H1 2026 performance and strong
pipeline of new clubs, with openings on track to accelerate in the second half of the year.

“Increased profitability drove a good cash performance as well as continued deleveraging. The Group’s international operations are increasingly delivering profitability and return on capital comparable with the UK, its largest market by size and membership.”

Highlights for the six months ended 30 June 2026

  • Strong organic expansion with 17 new gym openings across the Group, including 15 in the UK, one in Switzerland and one in the USA, taking the total number of gyms to 728 at the period end.
  • Revenue increased 6 percent to £393.0m ($528 mm) against £370.8m driven by estate expansion, continued growth of the member base, which increased to 2.4 million across the group, and a 2.1 percent uplift in average revenue per member to £26.78.
  • Adjusted EBITDA increased 23 percent to £123.6m ($166.2 mm) against £100.4m a year ago, reflecting sustained revenue and margin growth, and a disciplined approach to cost management.
  • All geographies contributed to improved profitability, with a particularly strong performance in the USA where operational improvements drove adjusted EBITDA growth of 35 percent to £8.8m (H1 2025: £6.5m).
  • Maintained investment in existing gyms and in high-quality new sites, which are performing ahead of expectations. Strong demand reflects growing importance of health and wellness in consumers’ lifestyles and increased supply of convenient and affordable gyms.
  • Accelerated roll-out of Women’s Workout Spaces (WWS) across PureGym’s UK estate following positive reception to these dedicated training spaces designed to boost female members’ comfort and confidence. Introduced 20 new WWS in H1 2026, taking the total to 73 across PureGym’s UK estate.
  • Successful CEO transition following the appointment of Alex Wood, who was formerly CFO.
  • Announced market entry into the Republic of Ireland, with the first gym in Dublin on track to open in early 2027.
  • Senior secured net leverage, reduced to 3.5x at the end of H1 2026, a reduction of 0.5x versus the prior year and 0.3x versus Q4 2025, reflecting both strong EBITDA growth and disciplined capital management.
  • Remain on track to deliver approximately 60 new high-quality sites across core geographies in 2026, with a significant runway for expansion in the years ahead.

PureGym 2026 Half Year Results Announcement

The first half included 705 corporate-owned and 23 franchise gyms in the Middle East compared to 670 corporate-owned and 23 franchise gyms in the Middle East in the year-ago period.

CEO Commentary
Alex Wood, CEO of PureGym Group, commented: “I am delighted and honoured to be reporting my first set of results as CEO. The team have delivered an excellent performance with significant growth in profitability. The strong momentum delivered in Q1 has continued, with year-on-year progress across all our key metrics. PureGym is a business in excellent health: we have a proven operating model, leading positions across our markets and a highly predictable and robust international platform from which to deliver further growth. Our member value proposition is outstanding and at a time when many consumer items and experiences have become vastly more expensive, we are pleased to continue providing gym memberships for as little as £14 per month and to have facilitated approximately 90 million workouts in H1 2026.

“Committed to inspiring healthier nations and getting more people active, we have continued to expand at pace, taking our estate to 728 gyms and our membership base to more than 2.4 million. Our new openings are performing strongly, including in the UK where we opened 15 gyms in H1 2026 and in Switzerland and the USA where we have also added new sites. It is clear across all markets that our ability to operate successfully across a wide range of gym sizes and property types is opening up increasingly attractive opportunities for growth.

“In the USA, we have made excellent progress with the former Blink Fitness estate; its profitability demonstrating both the quality of the opportunity and our ability to create significant value through strategic M&A. The estate has now been fully rebranded and integrated into PureGym’s operating model, and I am really excited by the opportunity presented by the world’s biggest fitness market.

“The long-term fundamentals of our sector remain extremely attractive. Consumers are placing ever greater importance on their health and wellbeing, while the increasing availability of convenient and affordable gyms is bringing more people into fitness. Gym membership penetration continues to rise across our markets and the value segment is taking an increasing share of that growth.

“Importantly, we are delivering growth with continued financial discipline and exceptional cost control. Our structurally low-cost, technology-enabled operating model allows us to maintain strong margins and returns, offer outstanding affordable fitness to members and continue to invest in our estate and expand.

“Looking ahead, we remain on track to open approximately 60 high-quality new gyms across the Group in 2026. Beyond 2026, we see substantial whitespace across our existing markets and the Republic of Ireland, and believe there are more than 750 high-quality sites we can open over the coming years.”

Image courtesy Puregym