Planet Fitness Inc · Q2 2021 earnings

Briefing

Planet Fitness's financial performance significantly improved in Q2 2021, marked by a substantial revenue increase and a return to profitability.

Planet Fitness, Inc. reported a strong second quarter in 2021, with a 241.1% increase in total revenue to $137.3 million. The company achieved a net income of $14.0 million, a significant turnaround from the previous year's net loss of $29.2 million. The adjusted EBITDA also saw a substantial increase, reaching $55.6 million. The company opened 24 new stores, bringing the total to 2,170, and ended the quarter with over 14.8 million members.

• Total revenue increased by 241.1% to $137.3 million compared to the prior year period.
• Net income attributable to Planet Fitness, Inc. was $14.0 million, or $0.17 per diluted share, compared to a loss of $29.2 million in the prior year period.
• Adjusted EBITDA increased by $64.8 million to $55.6 million from a loss of $9.3 million in the prior year period.
• Opened 24 new Planet Fitness stores, bringing the system-wide total to 2,170 as of June 30, 2021.

Headline financials

Revenue & EPS history

For the year ending December 31, 2021, the Company expects to be at the high-end of its 75 to 100 new store opening range, full-year revenue will be between $530 million and $540 million, Adjusted EBITDA will be between $200 million and $210 million and Adjusted net income per share, diluted, will be between $0.65 and $0.70, assuming there is no significant worsening of the COVID-19 pandemic that seriously impacts performance, including prolonged store closures or other mandated operational restrictions.