$XPOF
Xponential Fitness, Inc.

2024 Q2 Form 10-Q Financial Statement

#000095017024090222 Filed on August 05, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q4
Revenue $3.502M $90.20M
YoY Change -95.47% 26.56%
Cost Of Revenue $18.68M $21.62M
YoY Change 4.16% 26.22%
Gross Profit $57.83M $68.58M
YoY Change -2.64% 26.66%
Gross Profit Margin 1651.46% 76.03%
Selling, General & Admin $36.99M $57.22M
YoY Change -13.33% 52.1%
% of Gross Profit 63.96% 83.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.590M $4.182M
YoY Change -62.92% 2.25%
% of Gross Profit 2.75% 6.1%
Operating Expenses $36.99M $61.40M
YoY Change -21.24% 47.21%
Operating Profit -$2.408M $7.176M
YoY Change -119.36% -42.28%
Interest Expense $11.26M -$11.07M
YoY Change -239.0% 229.34%
% of Operating Profit -154.25%
Other Income/Expense, Net $253.0K -$96.00K
YoY Change -136.25% -81.64%
Pretax Income -$13.53M -$8.216M
YoY Change -148.92% -2691.8%
Income Tax $132.0K $859.0K
% Of Pretax Income
Net Earnings -$9.102M $3.068M
YoY Change -119.17% -110.57%
Net Earnings / Revenue -259.91% 3.4%
Basic Earnings Per Share -$0.29
Diluted Earnings Per Share -$0.29 $0.08
COMMON SHARES
Basic Shares Outstanding 31.81M
Diluted Shares Outstanding 31.81M

Balance Sheet

Concept 2024 Q2 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.00M $37.09M
YoY Change -54.72% 15.96%
Cash & Equivalents $26.02M $37.09M
Short-Term Investments
Other Short-Term Assets $2.313M $12.48M
YoY Change -89.94% -21.07%
Inventory $13.27M $14.72M
Prepaid Expenses $3.282M $3.107M
Receivables $29.77M $32.75M
Other Receivables $2.999M $203.0K
Total Short-Term Assets $85.72M $97.25M
YoY Change -11.25% 13.43%
LONG-TERM ASSETS
Property, Plant & Equipment $18.55M $19.50M
YoY Change -82.63% 5.28%
Goodwill $163.0M $171.6M
YoY Change -4.41% 3.56%
Intangibles $120.2M $120.1M
YoY Change -3.86% -12.41%
Long-Term Investments
YoY Change
Other Assets $1.159M $1.442M
YoY Change -97.45% 81.38%
Total Long-Term Assets $389.5M $431.5M
YoY Change -13.16% 8.69%
TOTAL ASSETS
Total Short-Term Assets $85.72M $97.25M
Total Long-Term Assets $389.5M $431.5M
Total Assets $475.2M $528.7M
YoY Change -12.82% 9.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.69M $19.12M
YoY Change -15.3% 18.13%
Accrued Expenses $14.41M $14.09M
YoY Change -51.73% 14.58%
Deferred Revenue $29.34M $34.67M
YoY Change -15.08% 8.37%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.147M $4.760M
YoY Change 20.82% 56.84%
Total Short-Term Liabilities $91.83M $92.31M
YoY Change -8.58% 26.84%
LONG-TERM LIABILITIES
Long-Term Debt $318.5M $319.3M
YoY Change 23.68% 139.98%
Other Long-Term Liabilities $4.831M $9.152M
YoY Change -97.7% 6.01%
Total Long-Term Liabilities $323.3M $328.4M
YoY Change -30.84% 131.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $91.83M $92.31M
Total Long-Term Liabilities $323.3M $328.4M
Total Liabilities $576.0M $616.8M
YoY Change 10.37% 61.19%
SHAREHOLDERS EQUITY
Retained Earnings -$642.1M -$630.1M
YoY Change 3.43% -1.83%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.697M $1.697M
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity -$151.9M -$125.2M
YoY Change
Total Liabilities & Shareholders Equity $475.2M $528.7M
YoY Change -12.82% 9.53%

Cashflow Statement

Concept 2024 Q2 2023 Q4
OPERATING ACTIVITIES
Net Income -$9.102M $3.068M
YoY Change -119.17% -110.57%
Depreciation, Depletion And Amortization $1.590M $4.182M
YoY Change -62.92% 2.25%
Cash From Operating Activities $3.001M -$2.772M
YoY Change -84.38% -119.52%
INVESTING ACTIVITIES
Capital Expenditures $2.636M $637.0K
YoY Change -21.5% -82.46%
Acquisitions
YoY Change
Other Investing Activities $79.00K -$3.357M
YoY Change -39.23% -666.1%
Cash From Investing Activities -$2.557M -$3.994M
YoY Change -20.79% 31.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.645M -8.020M
YoY Change -58.16% 71.18%
NET CHANGE
Cash From Operating Activities 3.001M -2.772M
Cash From Investing Activities -2.557M -3.994M
Cash From Financing Activities -1.645M -8.020M
Net Change In Cash -1.201M -14.79M
YoY Change -109.96% -328.36%
FREE CASH FLOW
Cash From Operating Activities $3.001M -$2.772M
Capital Expenditures $2.636M $637.0K
Free Cash Flow $365.0K -$3.409M
YoY Change -97.7% -132.26%

Facts In Submission

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<p id="notes_to_consolidated_fs" style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Note 1 – Nature of Business and Operations</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Xponential Fitness, Inc. (the “Company” or “XPO Inc.”), was formed as a Delaware corporation on January 14, 2020 for the purpose of facilitating an initial public offering (“IPO”) and entered into a series of transactions to implement an internal reorganization. Pursuant to a reorganization into a holding company structure, the Company is a holding company with its principal asset being an ownership interest in Xponential Fitness LLC (“XPO LLC”) through its ownership interest in Xponential Intermediate Holdings, LLC (“XPO Holdings”).</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">XPO LLC was formed on August 11, 2017 as a Delaware limited liability company for the sole purpose of franchising fitness brands in several verticals within the boutique fitness industry. XPO LLC is a wholly owned subsidiary of XPO Holdings, which was formed on February 24, 2020, and prior to the IPO, ultimately, H&amp;W Franchise Holdings, LLC (the “Parent”). Prior to the formation of XPO Holdings, the Company was a wholly owned subsidiary of H&amp;W Franchise Intermediate Holdings, LLC (the “Member”).</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of June 30, 2024</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, the Company’s portfolio of </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">nine</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> brands consisted of: “Club Pilates,” a Pilates facility franchisor; “CycleBar,” a premier indoor cycling franchise; “StretchLab,” a fitness concept offering one-on-one assisted stretching services; “YogaSix,” a yoga concept that concentrates on connecting to one’s body in a way that is energizing; “AKT,” a dance-based cardio workout concept that combines toning, interval and circuit training; “Pure Barre,” a total body workout concept that uses the ballet barre to perform small isometric movements; “Rumble,” a boxing concept that offers boxing-inspired group fitness classes; “BFT,” a high-intensity interval training concept that combines functional, high-energy strength, cardio and conditioning-based classes, designed to achieve the unique health goals of its members; and “Lindora,” a provider of medically guided wellness and metabolic health solutions, which was acquired on January 2, 2024. The Company, through its boutique fitness brands, licenses its proprietary systems to franchisees who in turn operate studios to promote training and instruction programs to their club members within each vertical. Additionally, the Company, through its ownership of the Lindora brand, franchises clinics that provide medically guided wellness and metabolic health solutions to its members. In addition to franchised studios, the Company operated </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">84</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> company-owned transition studios as of June 30, 2024 and 2023, respectively.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On February 13, 2024, the Company divested the Stride brand, including the intellectual property, franchise rights and franchise agreements for open studios. On May 20, 2024, the Company divested the Row House brand, including the intellectual property, franchise rights and franchise agreements for open studios. See Note 3 for additional information.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">In connection with the IPO, XPO Inc. entered into a series of transactions to implement an internal reorganization, (the “Reorganization Transactions”). The pre-IPO members of XPO Holdings (the “Pre-IPO LLC Members”) who retained their equity ownership in the form of limited liability company units (the “LLC Units”), immediately following the consummation of the Reorganization Transactions are referred to as “Continuing Pre-IPO LLC Members.”</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Because XPO Inc. manages and operates the business and controls the strategic decisions and day-to-day operations of XPO LLC through its ownership of XPO Holdings and because it also has a substantial financial interest in XPO LLC through its ownership of XPO Holdings, it consolidates the financial results of XPO LLC and XPO Holdings, and a portion of its net income (loss) is allocated to the noncontrolling interest to reflect the entitlement of the Continuing Pre-IPO LLC Members to a portion of XPO Holdings’ net income or loss.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As the sole managing member of XPO LLC, the Company operates and controls all of the business and affairs of XPO LLC. The Company consolidates XPO LLC on its condensed consolidated financial statements and records a noncontrolling interest related to the Class B units held by the Class B stockholders on its condensed consolidated balance sheet and statement of operations.</span></p><div style="font-size:12pt;font-family:Times New Roman;"><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Basis of presentation</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> – The Company’s condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). In the opinion of management, the Company has made all adjustments necessary to present fairly the condensed consolidated statements of operations, balance sheets, changes in stockholders' equity (deficit), and cash flows for the periods presented. Such adjustments are of a normal, recurring nature. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”). Interim results of operations are not necessarily indicative of results of operations to be expected for a full year.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On January 2, 2024, the Company acquired Lindora Franchise, LLC, a Delaware limited liability company, the franchisor of the Lindora wellness brand (the “Lindora Franchisor” or “Lindora”), and has included the results of operations of Lindora in its condensed consolidated statements of operations from the acquisition date forward. See Note 3 for additional information.</span></p></div><div style="font-size:10pt;font-family:Times New Roman;"><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Reclassifications </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">–</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">To conform with current year presentation, the Company has reclassified impairment charges of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">7,238</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> from selling, general and administrative expenses to impairment of goodwill and other assets in the operating costs and expenses section of the condensed consolidated statements of operations for the three and six months ended June 30, 2023.</span></p></div><div style="font-size:10pt;font-family:Times New Roman;"><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Principles of consolidation </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">–</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company’s consolidated financial statements include the accounts of its wholly owned subsidiaries. All intercompany transactions have been eliminated in consolidation.</span></p></div><div style="font-size:10pt;font-family:Times New Roman;"><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of estimates</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> – The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the consolidated financial statements. Actual results could differ from these estimates under different assumptions or conditions.</span></p></div>
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<p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Reclassifications </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">–</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">To conform with current year presentation, the Company has reclassified impairment charges of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">7,238</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> from selling, general and administrative expenses to impairment of goodwill and other assets in the operating costs and expenses section of the condensed consolidated statements of operations for the three and six months ended June 30, 2023.</span></p>
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us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.001
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
132000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
85000
CY2024Q2 xpof Pre Tax Book Income Loss Of Noncontrolling Interest
PreTaxBookIncomeLossOfNoncontrollingInterest
0.333
xpof Pre Tax Book Income Loss Of Noncontrolling Interest
PreTaxBookIncomeLossOfNoncontrollingInterest
0.333
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
133000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10000
CY2023Q2 xpof Pre Tax Book Income Loss Of Noncontrolling Interest
PreTaxBookIncomeLossOfNoncontrollingInterest
0.333
xpof Pre Tax Book Income Loss Of Noncontrolling Interest
PreTaxBookIncomeLossOfNoncontrollingInterest
0.333
us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
The Company’s tax returns remain open for examination in the U.S. for years 2019 through 2023.
xpof Foreign Subsidiaries Tax Examination Period In Which Tax Obligation Originated
ForeignSubsidiariesTaxExaminationPeriodInWhichTaxObligationOriginated
P4Y
xpof Percentage Of Benefits Expected To Realize From Tax Benefits
PercentageOfBenefitsExpectedToRealizeFromTaxBenefits
0.15
us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
1
CY2024Q2 xpof Deferred Tax Liability Recognized Tax Receivable Agreement Current
DeferredTaxLiabilityRecognizedTaxReceivableAgreementCurrent
3686000
CY2024Q2 xpof Deferred Tax Liability Recognized Tax Receivable Agreement Noncurrent
DeferredTaxLiabilityRecognizedTaxReceivableAgreementNoncurrent
780000
CY2024Q2 xpof Deferred Tax Liability Not Recognized Tax Receivable Agreement
DeferredTaxLiabilityNotRecognizedTaxReceivableAgreement
78182000
CY2024Q2 us-gaap Profit Loss
ProfitLoss
-13662000
CY2023Q2 us-gaap Profit Loss
ProfitLoss
27524000
us-gaap Profit Loss
ProfitLoss
-18018000
us-gaap Profit Loss
ProfitLoss
12545000
CY2024Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
-4607000
CY2023Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
23740000
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
-9546000
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
-849000
CY2024Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2150000
CY2023Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1857000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
4013000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3926000
CY2024Q2 xpof Deemed Contribution
DeemedContribution
2012000
CY2023Q2 xpof Deemed Contribution
DeemedContribution
45551000
xpof Deemed Contribution
DeemedContribution
-6094000
xpof Deemed Contribution
DeemedContribution
-17109000
xpof Deemed Contribution From Redemption Of Convertible Preferred Stock
DeemedContributionFromRedemptionOfConvertiblePreferredStock
12679000
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9193000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
47478000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-18579000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5038000
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
-849000
CY2023Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1857000
CY2023Q2 xpof Deemed Dividend
DeemedDividend
45551000
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-9193000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
3784000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-18579000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
4189000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31806000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33045000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31465000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31906000
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31806000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41593000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31465000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50059000
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.29
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.44
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.59
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.16
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.29
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.59
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
xpof Description Of Franchisees Requesting Settlement
DescriptionOfFranchiseesRequestingSettlement
On November 2, 2023, the Company received a letter from plaintiffs’ counsel purporting to represent unspecified current and former franchisees requesting settlement discussions. On July 31, 2024, plaintiffs’ counsel provided the Company with a list of approximately 250 current and former franchisees, certain of which current and former franchisees consist of more than one individual, that it purported to represent in this matter, who purport to have been aggrieved by alleged misstatements and omissions by the Company or an affiliate thereof. No litigation has been commenced, and the Company intends to vigorously defend itself in this matter. The Company recorded an accrual for estimated loss contingencies associated with this matter, which is included in accrued expenses in the condensed consolidated balance sheet. The accrual does not reflect the Company’s views of the merits of claims in this action.
CY2024Q2 xpof Letter Of Credit Accrued Potential Obligation
LetterOfCreditAccruedPotentialObligation
285000
CY2023Q4 xpof Letter Of Credit Accrued Potential Obligation
LetterOfCreditAccruedPotentialObligation
536000
CY2024Q2 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
1365000
CY2023Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
2755000
CY2024Q2 us-gaap Restructuring Charges
RestructuringCharges
2310000
us-gaap Restructuring Charges
RestructuringCharges
9244000
CY2024Q2 xpof Contract Termination And Other Associated Costs
ContractTerminationAndOtherAssociatedCosts
83000
xpof Contract Termination And Other Associated Costs
ContractTerminationAndOtherAssociatedCosts
605000
CY2024Q2 us-gaap Business Exit Costs1
BusinessExitCosts1
421000
us-gaap Business Exit Costs1
BusinessExitCosts1
4617000
CY2024Q2 us-gaap Other Restructuring Costs
OtherRestructuringCosts
1806000
us-gaap Other Restructuring Costs
OtherRestructuringCosts
4022000
CY2024Q2 us-gaap Restructuring Charges
RestructuringCharges
2310000
us-gaap Restructuring Charges
RestructuringCharges
9244000
CY2024Q2 us-gaap Gain Loss On Contract Termination
GainLossOnContractTermination
421000
us-gaap Gain Loss On Contract Termination
GainLossOnContractTermination
4057000
CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
2182000
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
15969000
us-gaap Payments For Restructuring
PaymentsForRestructuring
11226000
CY2024Q2 us-gaap Restructuring Reserve
RestructuringReserve
6925000

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