Xponential Fitness reported second-quarter 2026 results with revenue of $66.0 million and an adjusted EBITDA of $21.9 million, while recording a net loss of $4.8 million for the quarter ended June 30, 2026. The company said North America system-wide sales were $437.3 million, essentially flat year-over-year, and it opened 67 gross new studios and sold 53 franchise licenses in the quarter. Xponential revised its full-year 2026 guidance, trimming revenue and adjusted EBITDA ranges and expecting roughly 150 net new studio openings.

Financial Highlights

  • Revenue: $66.0 million for Q2 2026, down 13% year-over-year.
  • Net loss: $4.8 million for Q2 2026 (loss of $0.10 per basic share on 42.0 million Class A shares).
  • Adjusted EBITDA: $21.9 million for Q2 2026, down from $28.1 million in Q2 2025.
  • Adjusted net income (loss): $0.8 million for Q2 2026 (adjusted net income of $0.02 per basic share), compared to $14.5 million ($0.26 per basic share) in Q2 2025.
  • Liquidity and capital: approximately $25.0 million of cash, cash equivalents and restricted cash and $522.4 million of total long-term debt as of June 30, 2026.

Business Highlights

  • System-wide sales: North America system-wide sales of $437.3 million in Q2 2026, essentially flat year-over-year.
  • Studio growth and franchise activity: Opened 67 gross new studios and sold 53 franchise licenses in Q2 2026; company expects approximately 150 net new studio openings for full-year 2026.
  • Same-store performance: North America same store sales decreased 6.8% in Q2 2026 (compared with growth of 2.4% in the prior-year period).
  • Average unit volume: North America quarterly run-rate AUV of $659,000 in Q2 2026 (compared to $686,000 prior period).
  • Business model shifts: Transitioned merchandise fulfillment to an outsourced retail model, which materially reduced merchandise revenue and affected merchandise-related operations during the quarter.

Original SEC Filing:

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