Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.23.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current Assets:    
Cash, cash equivalents and restricted cash $ 51,880 $ 37,370
Accounts receivable, net (Note 10) 27,714 25,555
Inventories 16,339 10,864
Prepaid expenses and other current assets 13,531 6,294
Deferred costs, current portion 6,507 4,131
Notes receivable from franchisees, net 1,113 1,520
Total current assets 117,084 85,734
Property and equipment, net 20,293 18,524
Right-of-use assets [1] 77,353 30,079
Goodwill 165,661 165,697
Intangible assets, net 122,450 137,175
Deferred costs, net of current portion 45,958 43,620
Notes receivable from franchisees, net of current portion 1,181 1,067
Other assets 1,252 795
Total assets 551,232 482,691
Current Liabilities:    
Accounts payable 24,097 16,185
Accrued expenses 13,389 12,295
Deferred revenue, current portion 37,000 31,996
Current portion of long-term debt 5,195 3,035
Other current liabilities 21,840 9,265
Total current liabilities 101,521 72,776
Deferred revenue, net of current portion 115,229 109,465
Contingent consideration from acquisitions (Note 16) 10,303 28,182
Long-term debt, net of current portion, discount and issuance costs 319,053 133,039
Lease liability 74,678 30,583
Other liabilities 7,440 8,633
Total liabilities 628,224 382,678
Commitments and contingencies (Note 16)
Stockholders' equity (deficit):    
Additional paid-in capital 502,606 505,186
Receivable from Member/shareholder (Note 10) (15,026) (16,369)
Accumulated deficit (624,210) (641,903)
Treasury stock, at cost, 74,525 shares outstanding as of September 30, 2023 and December 31, 2022 (1,697) (1,697)
Total stockholders' deficit attributable to Xponential Fitness, Inc. (138,322) (154,778)
Noncontrolling interests (68,974) (53,284)
Total stockholders' deficit (207,296) (208,062)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit 551,232 482,691
Redeemable Convertible Preferred Stock    
Current Liabilities:    
Redeemable convertible preferred stock, $0.0001 par value, 400,000 shares authorized, 114,660 and 200,000 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively 130,304 308,075
Undesignated Preferred Stock    
Stockholders' equity (deficit):    
Undesignated preferred stock, $0.0001 par value, 4,600,000 shares authorized, none issued and outstanding as of September 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
[1]

(1) Includes impact of write off of abandoned right-of-use assets of $5,122 and impairment charge of $92 related to the restructuring plan. See Note 17 for additional information.