Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash, cash equivalents and restricted cash $ 38,679 $ 32,739
Accounts receivable, net (Note 10) 36,700 25,884
Inventories 7,392 10,016
Prepaid expenses and other current assets 14,823 10,678
Deferred costs, current portion 4,813 4,598
Notes receivable from franchisees, net 286 232
Total current assets 102,693 84,147
Property and equipment, net 13,908 14,651
Right-of-use assets 20,277 24,036
Goodwill 127,789 135,240
Intangible assets, net 94,350 100,944
Deferred costs, net of current portion 37,643 39,923
Notes receivable from franchisees, net of current portion 94 100
Other assets 3,061 4,356
Total assets 399,815 403,397
Current Liabilities:    
Accounts payable 23,066 27,011
Accrued expenses 43,444 31,323
Deferred revenue, current portion 24,462 25,912
Current portion of long-term debt 5,497 5,397
Other current liabilities 16,418 18,244
Total current liabilities 112,887 107,887
Deferred revenue, net of current portion 100,050 105,935
Contingent consideration from acquisitions (Note 16) 6,730 17,729
Long-term debt, net of current portion, discount and issuance costs 352,554 341,742
Lease liability 21,335 23,858
Other liabilities 2,615 251
Total liabilities 596,171 597,402
Commitments and contingencies (Note 16)
Stockholders' equity (deficit):    
Additional paid-in capital 497,186 503,850
Receivable from shareholder (Note 10) (17,673) (16,891)
Accumulated deficit (702,791) (701,837)
Treasury stock, at cost, 75 shares outstanding as of June 30, 2025 and December 31, 2024 (1,697) (1,697)
Total stockholders' deficit attributable to Xponential Fitness, Inc. (224,971) (216,571)
Noncontrolling interests (88,195) (94,244)
Total stockholders' deficit (313,166) (310,815)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit 399,815 403,397
Redeemable Convertible Preferred Stock    
Current Liabilities:    
Redeemable convertible preferred stock, $0.0001 par value, 400 shares authorized, 115 shares issued and outstanding as of June 30, 2025 and December 31, 2024 116,810 116,810
Undesignated Preferred Stock    
Stockholders' equity (deficit):    
Undesignated preferred stock, $0.0001 par value, 4,600 shares authorized, none issued and outstanding as of June 30, 2025 and December 31, 2024 0 0
Class A Common Stock    
Stockholders' equity (deficit):    
Common stock 3 3
Class B Common Stock    
Stockholders' equity (deficit):    
Common stock $ 1 $ 1