Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.23.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current Assets:    
Cash, cash equivalents and restricted cash $ 40,189 $ 37,370
Accounts receivable, net (Note 10) 27,016 25,555
Inventories 11,945 10,864
Prepaid expenses and other current assets 11,666 6,294
Deferred costs, current portion 4,264 4,131
Notes receivable from franchisees, net 1,502 1,520
Total current assets 96,582 85,734
Property and equipment, net 21,153 18,524
Right-of-use assets 85,646 30,079
Goodwill 170,563 165,697
Intangible assets, net 125,060 137,175
Deferred costs, net of current portion 44,650 43,620
Notes receivable from franchisees, net of current portion 638 1,067
Other assets 853 795
Total assets 545,145 482,691
Current Liabilities:    
Accounts payable 26,794 16,185
Accrued expenses 15,130 12,295
Deferred revenue, current portion 34,555 31,996
Current portion of long-term debt 4,260 3,035
Other current liabilities 19,706 9,265
Total current liabilities 100,445 72,776
Deferred revenue, net of current portion 112,816 109,465
Contingent consideration from acquisitions (Note 16) 12,513 28,182
Long-term debt, net of current portion, discount and issuance costs 257,490 133,039
Lease liability 77,598 30,583
Other liabilities 7,017 8,633
Total liabilities 567,879 382,678
Commitments and contingencies (Note 16)
Stockholders' equity (deficit):    
Additional paid-in capital 485,832 505,186
Receivable from Member/shareholder (Note 10) (21,798) (16,369)
Accumulated deficit (620,828) (641,903)
Treasury stock, at cost, 75 shares outstanding as of June 30, 2023 and December 31, 2022 (1,697) (1,697)
Total stockholders' deficit attributable to Xponential Fitness, Inc. (158,486) (154,778)
Noncontrolling interests (45,986) (53,284)
Total stockholders' deficit (204,472) (208,062)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit 545,145 482,691
Redeemable Convertible Preferred Stock    
Current Liabilities:    
Redeemable convertible preferred stock, $0.0001 par value, 400 shares authorized, 115 and 200 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively 181,738 308,075
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, 2023 and December 31, 2022 0 0
Class A Common Stock    
Stockholders' equity (deficit):    
Common stock 3 3
Class B Common Stock    
Stockholders' equity (deficit):    
Common stock $ 2 $ 2