Planet Fitness Inc
investor.planetfitness.comWhat Do They Do?
Runs fitness clubs where individuals buy memberships, franchises clubs to independent operators, and supplies fitness equipment to franchisees.
10-K for FY2025, filed Feb 25, 2026We are one of the largest and fastest-growing franchisors and operators of fitness centers in the world by number of members and locations…View ↗
We rely heavily on our franchising strategy to develop new Planet Fitness clubs, leveraging the ownership of entrepreneurs with specific…View ↗
For each franchised Planet Fitness club, we enter into a franchise agreement covering standard terms and conditions. Planet Fitness…View ↗
We provide our members with high-quality, Planet Fitness-branded fitness equipment from leading suppliers. In order to maintain a…View ↗
How Do They Make Money?
Members pay monthly dues and annual fees over their membership periods. The company also earns franchise royalties and advertising contributions tied to member billings and sells club equipment, generally paid for in advance.
10-K for FY2025, filed Feb 25, 2026Customers are offered multiple membership choices varying in length. Membership dues are earned and recognized over the membership term on…View ↗
Annual membership fees are annual fees charged to members in addition to monthly membership dues. The Company recognizes annual membership…View ↗
Royalties and franchisee contributions to the NAFs, are calculated as a percentage of franchise monthly dues and annual fees over the term…View ↗
Equipment sales to new and existing franchisee-owned clubs also generate significant cash flows. Franchisees generally pay in advance…View ↗
-
10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by product or service ↗
$1.3B
-
10-K for FY2025, filed Feb 25, 2026
$1.3B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Franchise
Mix
10-K for FY2025, filed Feb 25, 2026 |
29%
FY2022: 29%
|
Franchise, FY2025
$381M Sources
|
Mix |
|
National advertising fund revenue
Recurring
|
6.6%
FY2022: 6.2%
|
National advertising fund revenue, FY2025
$87M Sources
|
Recurring |
|
Corporate-owned clubs
Recurring
10-K for FY2025, filed Feb 25, 2026 |
41%
FY2022: 41%
|
Corporate-owned clubs, FY2025
$546.1M Sources
|
Recurring |
|
Equipment
Sold outright
10-K for FY2025, filed Feb 25, 2026 |
23%
FY2022: 24%
|
Equipment, FY2025
$310.1M Sources
|
Sold outright |
Who Are Their Customers?
Members can join online, through the app or in clubs. Franchisees collect dues at their locations, while Planet Fitness bills members at its corporate-owned clubs; franchisees also buy required equipment from the company or its vendors.
10-K for FY2025, filed Feb 25, 2026We make it simple for members to join and manage their membership, whether online, through our mobile application or in-club—no pushy sales…View ↗
We generate a significant portion of our cash flows from monthly and annual membership dues, royalties, NAF revenue and various fees…View ↗
For each franchised Planet Fitness club, we enter into a franchise agreement covering standard terms and conditions. Planet Fitness…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 17 cents of every revenue dollar as net income in FY2025 and turned 19 cents into free cash flow.
10-K for FY2025, filed Feb 25, 2026
$394.7MView ↗
10-K for FY2025, filed Feb 25, 2026
$219.1MView ↗
10-K for FY2025, filed Feb 25, 2026
$254.8MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
-
Jun 25, 2026
Planet Fitness appointed Sudhanshu Priyadarshi CFO and President, International
He succeeded Tom Fitzgerald as interim CFO and also took responsibility for the international business.
Sources
8-K, filed Jun 25, 2026
On June 25, 2026, Planet Fitness, Inc. (the “Company”) announced the appointment of Sudhanshu Priyadarshi, age 49, as Chief Financial…View ↗
-
Mar 9, 2026
CFO Jay Stasz departed; Tom Fitzgerald became interim CFO
The company began a search for a permanent CFO.
Sources
8-K, filed Mar 9, 2026
On March 9, 2026, Planet Fitness, Inc. (the “Company”) announced the departure of Jay Stasz, Chief Financial Officer, effective March 9…View ↗
Growing. Revenue grew 2.3x in 4 years, from $587M in FY2021 to $1.3B in FY2025, about 23% a year.
Strength equipment offering
The club equipment description has shifted from a limited offering of heavy free weights to including free weights and plate-loaded equipment.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Feb 25, 2026Welcoming, non-intimidating environment: We believe fitness is essential to both physical and mental health, and every member should feel…View ↗
Welcoming, non-intimidating environment: We believe fitness is essential to both physical and mental health, and every member should feel…View ↗
Equipment replacement cycle
The required replacement interval for franchisee equipment has widened, changing the timing of equipment sales to existing clubs.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Feb 25, 2026Market leader with differentiated member experience, nationally recognized brand and scale advantage. We are one of the largest and…View ↗
For each franchised Planet Fitness club, we enter into a franchise agreement covering standard terms and conditions. Planet Fitness…View ↗
Loading...
