Xponential Fitness, Inc. provided 2023 operating highlights ahead of the company’s participation at the ICR 2024 Conference in Orlando FL and the Jefferies Winter Consumer Summit in Avon, CO.
For the full year ended December 31, 2023, Xponential Fitness
- Grew to 3,062 open studios and increased total licenses sold to 6,255 across ten brands globally;
- Grew total members by 21 percent year-over-year to 717,000, up from 590,000 in 2022;
- Grew studio visits by 31 percent year-over-year to 51.5 million, up from 39.2 million in 2022;
- Increased system-wide sales to $1.40 billion, up 36 percent from $1.03 billion in 2022;
- Delivered same-store sales growth of 16 percent, compared to 25 percent in 2022; and
- Achieved Q4 2023 run-rate average unit volume (AUV) of $590,000, compared to $522,000 in Q4 2022.
“In 2023, we demonstrated the strength and resilience of Xponential’s business through continued execution and consistent, predictable results,” said Anthony Geisler, CEO of Xponential Fitness, Inc. “We recently held our annual franchise convention, in which over 2,000 attendees participated to discuss growth strategies, foster brand awareness and formally introduce our newest brand, Lindora. Our avid customer base, strong visitation trends and departure from the company-owned transition studio strategy position us well to increase profitability in 2024.”
Performance Compared to 2023 Outlook
The company said operating highlights are at, or exceeding, the high end of its previously provided full-year 2023 outlook:
- New studio openings of 557, at the top half of the guidance range of 550 to 560, and an increase of 9 percent as compared to the full year 2022;
- North America system-wide sales of $1.40 billion exceeded the high end of the guidance range of $1.390 million to $1.395 billion, with an increase of 36 percent compared to full year 2022.
Xponential Fitness plans to report its fourth quarter and full-year 2023 results and provide its full-year 2024 outlook in early March.
Image courtesy Xponential Fitness
