Xponential Fitness, Inc.
investor.xponential.comWhat Do They Do?
Franchises boutique fitness brands to franchisees and master franchisees, whose studios offer Pilates, barre and stretching workouts to consumers.
10-K for FY2025, filed Mar 4, 2026
How Do They Make Money?
Franchisees pay an initial franchise fee when signing, then monthly royalties tied to studio sales and technology fees. They also contribute monthly to brand marketing funds based on studio gross sales.
10-K for FY2025, filed Mar 4, 2026Franchise development fee revenue – The Company’s earlier franchise agreements typically operate under ten-year terms with the option for…View ↗
Franchise royalty fee revenue – Royalty revenue represents royalties earned from each of the franchised studios in accordance with the…View ↗
Technology fees – The Company may provide access to third-party or other proprietary technology solutions to the franchisees for a fee. The…View ↗
National advertising. We manage a marketing fund for franchisees, with the goal of building national awareness for our brands. We focus our…View ↗
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10-K for FY2025, filed Mar 4, 2026
FY2025 revenue by product or service (Franchise revenue) ↗
$11.1M
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10-K for FY2025, filed Mar 4, 2026
$11.1M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Franchise revenue
|
61%
FY2022: 47%
|
Franchise revenue, FY2025
$192.6M Sources
|
|
|
Equipment revenue
|
11%
FY2022: 18%
|
Equipment revenue, FY2025
$35M Sources
|
|
|
Merchandise revenue
|
7.6%
FY2022: 11%
|
Merchandise revenue, FY2025
$23.9M Sources
|
|
|
Franchise marketing fund revenue
Usage-based
10-K for FY2025, filed Mar 4, 2026 |
12%
FY2022: 8.4%
|
Franchise marketing fund revenue, FY2025
$36.5M Sources
|
Usage-based |
|
Other service revenue
|
8.5%
FY2022: 16%
|
Other service revenue, FY2025
$26.8M Sources
|
Who Are Their Customers?
Franchisees and master franchisees buy franchise rights from Xponential; master franchisees arrange license sales to local operators abroad. Franchisees source resale merchandise through an outsourced retail partner or approved vendors.
10-K for FY2025, filed Mar 4, 2026The Company may enter into master franchise agreements with master franchisees, under which the master franchisee sells licenses to…View ↗
We are focused on expanding into territories with attractive demographics, including household income, level of education and fitness…View ↗
Franchisees have the opportunity to purchase merchandise for resale in studios and online. To ensure consistency across the studio base, we…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $38.7M in FY2025, but brought in more cash than it spent: $24.7M of free cash flow.
10-K for FY2025, filed Mar 4, 2026
$19.8MView ↗
10-K for FY2025, filed Mar 4, 2026
−$38.7MView ↗
10-K for FY2025, filed Mar 4, 2026
$24.7MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Aug 7, 2026
−$4.1MView ↗
- ▼ Now a loss
- vs $969K in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 7, 2026
Open tableView ↗
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Sep 1, 2026
Company named Jennifer Ryu as CFO
She is scheduled to succeed interim CFO Robert Julian on October 19, 2026.
Sources
8-K, filed Sep 8, 2026
On September 8, 2026, Xponential Fitness, Inc. (the “Company”) announced the appointment of Jennifer Ryu as the Chief Financial Officer of…View ↗
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Aug 6, 2026
Company lowered its full-year 2026 outlook
The revised outlook also lowered net new studio-opening guidance.
Sources
8-K, filed Aug 6, 2026
The Company is revising its full year 2026 outlook, which compares to 2025 results as follows:View ↗
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Apr 7, 2026
Board began a review of strategic alternatives
Options may include a sale of the company, a merger or another transaction.
Sources
8-K, filed Apr 7, 2026
IRVINE, Calif., April 6, 2026 – Xponential Fitness, Inc. (NYSE: XPOF) (“Xponential” or the “Company”), one of the leading global…View ↗
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Mar 10, 2026
CFO departed; company appointed an interim CFO
Sources
8-K, filed Mar 10, 2026
On March 10, 2026, the Company issued a press release (the “Press Release”), announcing certain leadership changes, including the…View ↗
Growing. Revenue grew 4.0x in 4 years, from $2.7M in FY2021 to $11.1M in FY2025, about 42% a year.
A narrower brand portfolio
The older report described brands spanning indoor cycling, rowing, dance, boxing and running as well as Pilates, barre, stretching, functional training and yoga; the latest report focuses on Pilates, barre, stretching, yoga and functional training.
10-K for FY2022, filed Mar 6, 2023 10-K for FY2025, filed Mar 4, 2026Xponential Fitness, Inc. (the “Company” or “XPO Inc.”) through its principal operating subsidiary, Xponential Fitness LLC (“XPO LLC”) is…View ↗
We operate a diversified platform of five brands spanning across verticals including Pilates, barre, stretching, functional training, and…View ↗
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