Xponential Fitness, Inc. XPOF

Communication services SIC 7990 - Services-Miscellaneous Amusement & Recreation NYSE

Xponential Fitness, Inc. (the "Company" or "XPO Inc.") through its principal operating subsidiary, Xponential Fitness LLC ("XPO LLC"), and other subsidiaries, is one of the leading global franchisors of boutique health and wellness brands.

We operate a diversified platform of five brands spanning across verticals including Pilates, barre, stretching, functional training, and yoga. In partnership with its franchisees and master franchisees, XPO LLC offers energetic, accessible, and personalized workout experiences led by highly qualified instructors in studio locations throughout North America and internationally, with franchise, master franchise and international expansion agreements in 49 U.S. states, Puerto Rico, and 28 additional countries as of December 31, 2025. The Company's portfolio of brands includes Club Pilates, the largest Pilates brand in the United States; StretchLab, a concept offering one-on-one and group stretching services; YogaSix, the largest franchised yoga brand in the United States; Pure Barre, a total body workout that uses the ballet barre to perform small isometric movements, and the largest barre brand in the United States; and BFT, a functional training and strength-based program. Prior to the divestitures of the CycleBar and Rumble brands in July 2025, through our ownership of the CycleBar and Rumble brands, we franchised boutique fitness studios dedicated to indoor cycling and boxing disciplines, respectively. Additionally, prior to the divestiture of the Lindora brand in September 2025, through our ownership of the Lindora brand, we franchised clinics that provided medically guided wellness and metabolic health solutions to its members.

Last close 4.91 2026-09-04
Market cap $206.4M estimated share count
52-week range 3.83 - 9.25

Valuation FY2025 figures against the last close

P/S0.7x
P/E
P/FCF8.3x
EV/EBITDA27.3x
Dividend yield
Diluted EPS-1.47

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $314.9M$320.3M$317.9M$243.2M$155.1M$106.6M$129.1M
Cost of revenue $46.5M
Gross profit $196.7M
SG&A $152.0M$176.9M$168.9M$126.3M$94.0M$60.9M$80.5M
Total operating expenses $295.0M$374.0M$283.0M$229.9M$185.9M$98.8M$150.2M
Operating income $19.8M-$53.6M$34.9M$13.3M-$30.8M$7.8M-$21.1M
Interest expense $49.2M$46.2M$38.7M$13.0M$24.7M$21.4M$16.1M
Pre-tax income -$52.3M-$99.0M-$5.4M$1.6M-$50.7M-$13.3M-$37.0M
Income tax $1.3M$342.0K$1.0M$488.0K$783.0K$369.0K$164.0K
Net income -$38.7M-$67.7M-$4.0M$1.2M-$18.8M-$13.6M-$37.1M
EPS, basic -1.47-2.271.08-0.88-2.85
EPS, diluted -1.47-2.27-0.52-0.88-2.85
Shares, diluted (wtd. avg.) $34.8M$32.0M$39.7M$25.3M$22.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $45.9M$32.7M$37.1M$37.4M$21.3M$11.3M
Receivables $18.4M$25.9M$31.6M$25.6M$11.7M$5.2M
Inventory $2.2M$10.0M$15.6M$10.9M$6.9M$6.2M
Total current assets $94.6M$84.1M$97.0M$85.7M$51.2M$32.7M
Property, plant and equipment $10.9M$14.7M$19.5M$18.5M$12.8M$13.7M
Goodwill $127.8M$135.2M$170.7M$165.7M$169.1M$139.7M
Other intangibles $66.5M$100.9M$120.1M$137.2M$136.9M$98.1M
Total assets $345.6M$403.4M$529.5M$482.7M$415.5M$322.8M
Accounts payable $26.3M$27.0M$18.6M$16.2M$14.9M$18.3M
Short-term debt $5.2M$5.4M$4.8M$3.0M$3.0M$5.8M
Total current liabilities $116.0M$107.9M$102.2M$72.8M$65.9M$54.9M
Long-term debt $500.5M$341.7M$319.3M$133.0M$128.0M$176.0M
Total liabilities $717.6M$597.4M$624.4M$382.7M$349.1M$318.1M
Retained earnings -$740.5M-$701.8M-$634.2M-$641.9M-$643.8M-$107.5M
Total equity -$269.1M-$216.6M-$209.5M-$211.9M-$211.0M$4.7M$26.7M$62.2M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow $28.3M$11.7M$32.7M$52.1M$14.5M-$728.0K$1.5M
Depreciation and amortisation $4.6M$6.1M$5.6M$3.9M$3.0M$2.6M$1.3M
Stock-based compensation $12.9M$15.5M$18.0M$29.0M$9.7M$1.8M$2.1M
Capital expenditure $3.6M$4.7M$7.4M$9.0M$3.6M$1.9M$7.2M
Investing cash flow $1.5M-$14.1M-$11.7M-$14.6M-$50.6M-$4.6M-$9.8M
Financing cash flow -$16.7M-$1.9M-$21.3M-$21.4M$46.2M$7.3M$6.4M
Buybacks $0$0$50.4M$0$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001802156-26-000016.

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