F45 Training Holdings Inc. · Q2 2022 earnings

Briefing

Reported a revenue increase of 12% year-over-year, same-store sales growth of 6% globally, and system-wide sales growth of 23%.

F45 Training Holdings Inc. announced financial results for the second quarter ended June 30, 2022, with total revenue of $30.0 million and an Adjusted EBITDA of $(7.3) million. The company had 92 Net Initial Studio Openings, bringing the global Total Studio count to 1,958. Same-store sales grew by 6%, and system-wide sales reached a record $127.1 million, representing year-over-year growth of 23%.

• Total revenue increased 12% year-over-year to $30.0 million.
• Same-store sales increased 6% globally and 20% in the United States.
• System-wide sales increased 23% globally to $127.1 million, and 44% in the United States to $58.1 million.
• Net Initial Studio Openings totaled 92.

Headline financials

Revenue & EPS history

The Company is reaffirming the following financial guidance for the year ending December 31, 2022 as described in the strategic outlook announcement on July 26, 2022. The guidance assumes that the $250 million of growth capital provided by two previously announced franchise financing facilities, which F45 had arranged for franchisees to open additional studios, will not be available despite strong demand from franchisees.