Xponential Fitness Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Xponential Fitness, Inc. has filed its Q1 2024 10-Q report detailing financial performance and operational updates.</b>

AI Summary

Xponential Fitness, Inc. (XPOF) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. Xponential Fitness, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of the fiscal year. Key financial data and operational details are provided for the reporting period. The report includes information on various assets and liabilities as of March 31, 2024. Specific agreements and acquisitions are referenced, including the BFT Acquisition and Rumble Holdings LLC.

Why It Matters

For investors and stakeholders tracking Xponential Fitness, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial results and operational status of Xponential Fitness, Inc. Understanding the details within this report is crucial for assessing the company's performance, financial health, and future outlook.

Risk Assessment

Risk Level: medium — Xponential Fitness, Inc. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information and does not indicate significant positive or negative events on its own, but requires further analysis of the specific numbers.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to identify trends in revenue, expenses, and profitability.

Key Numbers

• 2024-03-31 — Period End Date (Reporting Period)
• 2024-05-06 — Filing Date (Date Filed)
• 90 — Public Document Count (Filing Metadata)
• 001-40638 — SEC File Number (Filing Metadata)

Key Players & Entities

• Xponential Fitness, Inc. (company) — Filer
• 2024-03-31 (date) — Period of Report
• 2024-05-06 (date) — Filing Date
• 17877 Von Karman Ave (address) — Business Address
• Irvine, CA (address) — Business Address
• BFT Acquisition (company) — Acquisition Reference
• Rumble Holdings LLC (company) — Entity Reference
• XPOF (ticker) — Ticker Symbol

FAQ

Industry Context

Xponential Fitness operates in the fitness industry, focusing on franchised studios and digital fitness offerings.

Regulatory Implications

The filing is a standard 10-Q, a quarterly report required by the SEC for publicly traded companies to provide updates on their financial condition.

What Investors Should Do

1. Analyze the balance sheet for changes in assets, liabilities, and equity.
2. Examine the income statement for revenue trends and profitability metrics.
3. Review the cash flow statement to understand the company's cash generation and usage.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-06: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing an update from the previous year's filings.

Key Financial Figures

• $0.0001 — tered Class A common stock, par value $0.0001 per share XPOF New York Stock Excha

Filing Documents

• xpof-20240331.htm (10-Q) — 2375KB
• xpof-ex10_1.htm (EX-10.1) — 2028KB
• xpof-ex31_1.htm (EX-31.1) — 16KB
• xpof-ex31_2.htm (EX-31.2) — 16KB
• xpof-ex32_1.htm (EX-32.1) — 10KB
• xpof-ex32_2.htm (EX-32.2) — 10KB
• 0000950170-24-053165.txt (&nbsp;) — 12841KB
• xpof-20240331.xsd (EX-101.SCH) — 1812KB
• xpof-20240331_htm.xml (XML) — 1671KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations 2 Condensed Consolidated Statements of Changes to Stockholder's Equity (Deficit) 3 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.

Controls and Procedures

Controls and Procedures 43 PART II. OTHER INFORMATION 44 Item 1.

Legal Proceedings

Legal Proceedings 44 Item 1A.

Risk Factors

Risk Factors 44 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44 Item 3. Defaults Upon Senior Securities 44 Item 4. Mine Safety Disclosures 44 Item 5. Other Information 44 Item 6. Exhibits 45

Signatures

Signatures 46

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. Xponential Fitness, Inc. Condensed Consolidated Balance Sheets (Unaudited) (amounts in thousands, except per share amounts) March 31, December 31, 2024 2023 Assets Current Assets: Cash, cash equivalents and restricted cash $ 27,218 $ 37,094 Accounts receivable, net (Note 10) 32,242 32,751 Inventories 15,270 14,724 Prepaid expenses and other current assets 5,661 5,856 Deferred costs, current portion 7,332 6,620 Notes receivable from franchisees, net 65 203 Total current assets 87,788 97,248 Property and equipment, net 19,436 19,502 Right-of-use assets 55,623 71,413 Goodwill 173,947 171,601 Intangible assets, net 124,105 120,149 Deferred costs, net of current portion 45,546 46,541 Notes receivable from franchisees, net of current portion 647 802 Other assets 1,350 1,442 Total assets $ 508,442 $ 528,698 Liabilities, redeemable convertible preferred stock and equity (deficit) Current Liabilities: Accounts payable $ 24,995 $ 19,119 Accrued expenses 12,734 14,088 Deferred revenue, current portion 30,110 34,674 Current portion of long-term debt 5,147 4,760 Other current liabilities 19,409 19,666 Total current liabilities 92,395 92,307 Deferred revenue, net of current portion 115,866 117,305 Contingent consideration from acquisitions (Note 16) 12,971 8,666 Long-term debt, net of current portion, discount and issuance costs 318,812 319,261 Lease liability 54,258 70,141 Other liabilities 5,625 9,152 Total liabilities 599,927 616,832 Commitments and contingencies (Note 16) Redeemable convertible preferred stock, $ 0.0001 par value, 400 shares authorized, 115 shares issued and outstanding as of March 31, 2024 and December 31, 2023 122,766 114,660 Stockholders' equity (deficit): Undesignated preferred stock, $ 0.0001 par value, 4,600 shares a