NYSE$FXLV

F45 Training Holdings Inc. · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Reported financial results for the fiscal third quarter and announced the formation of a Special Committee and the engagement of advisors.

F45 Training Holdings Inc. reported Q3 2022 total revenue of $29.3 million and Adjusted EBITDA of $6.1 million. They had 84 Net Initial Studio Openings, bringing the global Total Studio count to 2,042. Same store sales growth of 16% and record system-wide sales of $130.6 million, representing year-over-year growth of 31%.

  • Total revenue increased from the prior year period by 8% to $29.3 million.
  • Same-store sales increased 16% globally and 11% in the United States.
  • System-wide sales increased 31% globally to $130.6 million, and 32% in the United States to $61.1 million.
  • Net loss was $60.0 million, compared to net loss of $130.2 million in the prior year period.

Headline financials

Total Revenue

$29.3M

Previous: $2.2M+1233.0%
EPS (adj)

-$0.62

Previous: -$1.80+65.6%
Net Franchises Sold

-152

No prior period
Net Initial Studio Openings

84

No prior period
Capital Expenditures

-$6.08M

Previous: -$1.47M-314.9%
Free Cash Flow

-$95.1M

Previous: -$36.2M-162.4%
Net Income

-$60M

Previous: -$130M+53.9%
Operating Income

-$34M

Previous: -$90.6M+62.4%
Gross Profit

$19.9M

Previous: $19.9M-0.2%
Cash & Equivalents

$16.7M

Previous: $52.6M-68.3%
Total Assets

$226M

Previous: $167M+35.7%
Stock-Based Comp

$7.28M

Previous: $85.7M-91.5%

Revenue & EPS history

F45 · Revenue · Quarterly

$29.3M

Q3 2022+1,233%vs Q3 2021
Beat estimate in 2 of 8 quarters(25%)
ActualEstimate

Revenue by segment

F45 · $29.3M total across 2 segments · Q3 2022

  • Franchise
    $18.6M+0.3%
  • Equipment and Merchandise
    $10.8M+24.2%

Forward guidance

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.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 12 quarterly earnings reports · overlaid with Q3 2022

Historical avgQ3 2022

-3.1%

Avg return

Earnings day

+0.0%

Avg return

5 days after

+10.2%

Avg return

30 days after

25%

3 / 12 earnings

Positive

+13.5%

Q2 2022

Best reaction

-16.6%

Q4 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2023+0.0%+0.0%+10.0%
Q1 2023+0.0%+0.0%+10.0%
Q2 2023+0.0%+0.0%+10.0%
Q4 2022+0.0%+30.4%+121.7%
Q3 2022-8.0%-24.9%-4.9%
Q2 2022+13.5%-1.9%+21.4%
Q1 2022+3.8%+3.5%-17.0%
Q4 2021-7.0%-6.4%-23.5%
Q4 2020-16.6%+12.2%+27.4%
Q3 2021+7.3%+10.7%-4.3%
Q1 2021-15.4%-11.8%-14.2%
Q2 2021-15.4%-11.8%-14.2%
Q3 2020
Q2 2020
Q1 2020

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