Earnings Releases·Nov 5, 2026, 4:26 PM ET

Xponential Fitness, Inc. — Third Quarter 2026 Earnings Summary

Total revenue declined 21% year-over-year to $62.3 million, while the company shifted from a net loss of $6.7 million to a net income of $4.9 million; however, adjusted net income and adjusted EBITDA fell 89% and 27% respectively compared to the prior year.
Full-year 2026 guidance was lowered, with net new studio openings reduced to 124–130 (a 37% midpoint decrease), revenue projected at $250.0–$260.0 million (19% midpoint decrease), and adjusted EBITDA narrowed to $91.0–$94.0 million (17% midpoint decrease).
The Board initiated a strategic alternatives review in April to maximize shareholder value, potentially including a sale or merger, with Jefferies acting as financial advisor.
Significant revenue declines were driven by franchise agreement terminations, brand divestitures, and a transition from an in-house to an outsourced merchandise model, alongside a 7.5% drop in North America same-store sales.