Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.23.2
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue, net:        
Total revenue, net $ 77,340 $ 59,560 $ 148,030 $ 109,922
Operating costs and expenses:        
Selling, general and administrative expenses 44,448 29,322 79,333 63,241
Depreciation and amortization 4,288 3,579 8,485 7,071
Marketing fund expense 5,466 4,081 10,472 8,436
Acquisition and transaction income (31,252) (31,627) (15,510) (22,083)
Total operating costs and expenses 40,887 23,418 118,784 88,554
Operating income 36,453 36,142 29,246 21,368
Other (income) expense:        
Interest income (529) (418) (1,165) (807)
Interest expense 8,627 2,866 16,604 5,727
Other expense 698 0 1,252 0
Total other expense 8,796 2,448 16,691 4,920
Income before income taxes 27,657 33,694 12,555 16,448
Income taxes 133 2,217 10 150
Net income 27,524 31,477 12,545 16,298
Less: net income attributable to noncontrolling interests 9,145 14,643 4,149 6,983
Net income attributable to Xponential Fitness, Inc. $ 18,379 $ 16,834 $ 8,396 $ 9,315
Net income per share of Class A common stock:        
Basic $ 1.44 $ 3.28 $ 0.16 $ 1.86
Diluted $ 0.09 $ 0.50 $ 0.08 $ 0.26
Weighted average shares of Class A common stock outstanding:        
Basic 33,045 25,414 31,906 24,083
Diluted 41,593 63,183 50,059 62,696
Franchise revenue        
Revenue, net:        
Total revenue, net $ 35,133 $ 27,622 $ 68,099 $ 53,122
Equipment revenue        
Revenue, net:        
Total revenue, net 14,428 12,381 27,522 20,160
Merchandise revenue        
Revenue, net:        
Total revenue, net 8,401 6,753 15,565 12,836
Franchise marketing fund revenue        
Revenue, net:        
Total revenue, net 6,617 4,937 12,828 9,372
Other service revenue        
Revenue, net:        
Total revenue, net 12,761 7,867 24,016 14,432
Product revenue        
Operating costs and expenses:        
Costs of revenue 14,223 13,519 28,258 23,111
Franchise and service revenue        
Operating costs and expenses:        
Costs of revenue $ 3,714 $ 4,544 $ 7,746 $ 8,778