Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.25.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash, cash equivalents and restricted cash $ 41,463 $ 32,739
Accounts receivable, net 18,638 25,884
Inventories 5,661 10,016
Prepaid expenses and other current assets 23,471 10,678
Deferred costs, current portion 4,574 4,598
Notes receivable, net 5,410 232
Total current assets 99,217 84,147
Property and equipment, net 12,134 14,651
Right-of-use assets 13,646 24,036
Goodwill 127,789 135,240
Intangible assets, net 67,290 100,944
Deferred costs, net of current portion 29,088 39,923
Notes receivable from franchisees, net of current portion 22 100
Other assets 6,118 4,356
Total assets 355,304 403,397
Current Liabilities:    
Accounts payable 15,588 27,011
Accrued expenses 33,326 31,323
Deferred revenue, current portion 23,786 25,912
Current portion of long-term debt 10,097 5,397
Other current liabilities 10,432 18,244
Total current liabilities 93,229 107,887
Deferred revenue, net of current portion 79,263 105,935
Contingent consideration from acquisitions (Note 16) 9,802 17,729
Long-term debt, net of current portion, discount and issuance costs 348,947 341,742
Lease liabilities, net of current portion 16,018 23,858
Other liabilities 11,741 251
Total liabilities 559,000 597,402
Commitments and contingencies (Note 16)
Stockholders' equity (deficit):    
Additional paid-in capital 497,483 503,850
Receivable from shareholder (Note 10) (18,513) (16,891)
Accumulated deficit (707,650) (701,837)
Treasury stock, at cost, 75 shares outstanding as of September 30, 2025 and December 31, 2024 (1,697) (1,697)
Total stockholders' deficit attributable to Xponential Fitness, Inc. (230,373) (216,571)
Noncontrolling interests (90,133) (94,244)
Total stockholders' deficit (320,506) (310,815)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit 355,304 403,397
Redeemable Convertible Preferred Stock    
Current Liabilities:    
Redeemable convertible preferred stock, $0.0001 par value, 400 shares authorized, 115 shares issued and outstanding as of September 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 September 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