Life Time Group Holdings, Inc.

ir.lifetime.life

What Do They Do?

Runs athletic country clubs offering fitness, wellness and recreation services to individual members, alongside a digital health and fitness platform.

How Do They Make Money?

Members pay recurring monthly dues for club access, sometimes with an enrollment fee when joining. They also pay for in-center services as delivered and products when purchased.

FY2025 revenue by product or service revenue

Segment	Share	How money arrives
Membership dues and enrollment fees Recurring	70% FY2022: 69%	Recurring
In-center revenue Sold outright	27% FY2022: 28%	Sold outright
Other revenue Sold outright	2.9% FY2022: 2.9%	Sold outright

Who Are Their Customers?

Individual members join directly for memberships; some reduced-rate memberships are arranged or subsidized through third-party administrators, including medical insurance providers. Members also buy training, spa, café and other services at the centers.

Do Revenues Turn Into Profits?

Yes. It kept 12 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$21M.

Operating income, FY2025

16% of revenue

▲ +35% vs FY2024 ($357.5M, 14%)

Net income, FY2025

12% of revenue

▲ +139% vs FY2024 ($156.2M, 6%)

Free cash flow, FY2025

−1% of revenue

▼ Now a loss vs FY2024 ($50.6M, 2%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +14%; vs $761.5M in Q2 FY2025
Net income: ▲ +41%; vs $72.1M in Q2 FY2025

Membership dues and enrollment fees share of revenue vs 69.3% in Q2 FY2025

Jul 30, 2026 Raised its 2026 outlook

Growing. Revenue grew 2.3x in 4 years, from $1.3B in FY2021 to $3B in FY2025, about 23% a year.

Broader online product sales The earlier report described members buying supplements and other goods through Life Time's digital health store; the latest says it is selling LTH nutritional products more broadly on e-commerce platforms.

Added longevity health services The earlier report highlights training, fitness and age-focused programs; the latest also describes MIORA, a performance and longevity offering with assessments, therapies, supplements and recovery services.

Revenue over time

Membership dues and enrollment fees In-center revenue Other revenue

$5B$2.5B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Equinox Holdings, The Bay Club, Invited, LA Fitness International, Powerhouse Gym, 24 Hour Fitness Worldwide, Anytime Fitness, Snap Fitness, Planet Fitness, Orange Theory, Barre3, and StretchLab

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