Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.24.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current Assets:    
Cash, cash equivalents and restricted cash $ 37,094 $ 37,370
Accounts receivable, net (Note 10) 32,751 25,555
Inventories 14,724 10,864
Prepaid expenses and other current assets 5,856 6,294
Deferred costs, current portion 6,620 4,131
Notes receivable from franchisees, net 203 1,520
Total current assets 97,248 85,734
Property and equipment, net 19,502 18,524
Right-of-use assets [1] 71,413 30,079
Goodwill 171,601 165,697
Intangible assets, net 120,149 137,175
Deferred costs, net of current portion 46,541 43,620
Notes receivable from franchisees, net of current portion 802 1,067
Other assets 1,442 795
Total assets 528,698 482,691
Current Liabilities:    
Accounts payable 19,119 16,185
Accrued expenses 14,088 12,295
Deferred revenue, current portion 34,674 31,996
Current portion of long-term debt 4,760 3,035
Other current liabilities 19,666 9,265
Total current liabilities 92,307 72,776
Deferred revenue, net of current portion 117,305 109,465
Contingent consideration from acquisitions (Note 17) 8,666 28,182
Long-term debt, net of current portion, discount and issuance costs 319,261 133,039
Lease liability 70,141 30,583
Other liabilities 9,152 8,633
Total liabilities 616,832 382,678
Commitments and contingencies (Note 17)
Stockholders' equity (deficit):    
Additional paid-in capital 521,998 505,186
Receivable from shareholder (Note 10) (15,426) (16,369)
Accumulated deficit (630,127) (641,903)
Treasury stock, at cost, 75 shares outstanding as of December 31, 2023 and 2022 (1,697) (1,697)
Total stockholders' deficit attributable to Xponential Fitness, Inc. (125,247) (154,778)
Noncontrolling interests (77,547) (53,284)
Total stockholders' deficit (202,794) (208,062)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit 528,698 482,691
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 December 31, 2023 and 2022, respectively 114,660 308,075
Undesignated Preferred Stock    
Stockholders' equity (deficit):    
Undesignated preferred stock, $0.0001 par value, 4,600 shares authorized, none issued and outstanding as of December 31, 2023 and 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] For December 31, 2023, includes impact of write off of abandoned right-of-use assets and impairment charge related to the restructuring plan. See Note 18 for additional information.