Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenue, net:      
Total revenue, net $ 318,660 $ 244,954 $ 155,079
Operating costs and expenses:      
Selling, general and administrative expenses (Note 10) 166,828 125,452 94,017
Impairment of goodwill and other assets 16,667 3,656 781
Depreciation and amortization 16,883 15,315 10,172
Marketing fund expense 22,683 17,290 13,044
Acquisition and transaction expenses (income) (17,964) 2,438 26,618
Total operating costs and expenses 278,987 229,818 185,898
Operating income (loss) 39,673 15,136 (30,819)
Other (income) expense:      
Interest income (1,611) (1,805) (1,164)
Interest expense 38,733 13,017 24,709
Other expense 3,193 523 0
Gain on debt extinguishment 0 0 (3,707)
Total other expense 40,315 11,735 19,838
Income (loss) before income taxes (642) 3,401 (50,657)
Income taxes 1,071 526 783
Net income (loss) (1,713) 2,875 (51,440)
Less: Net income (loss) attributable to noncontrolling interests (810) 945 (32,611)
Net income (loss) attributable to Xponential Fitness, Inc. $ (903) $ 1,930 $ (18,829)
Net income (loss) per share of Class A common stock:      
Basic $ 1.18 $ (0.87) $ (2.85)
Diluted $ (0.44) $ (0.87) $ (2.85)
Weighted average shares of Class A common stock outstanding:      
Basic 31,742 25,295 22,403
Diluted 39,705 25,295 22,403
Franchise revenue      
Revenue, net:      
Total revenue, net $ 143,615 $ 115,286 $ 74,459
Equipment revenue      
Revenue, net:      
Total revenue, net 56,454 43,461 22,583
Merchandise revenue      
Revenue, net:      
Total revenue, net 34,146 27,073 20,140
Franchise marketing fund revenue      
Revenue, net:      
Total revenue, net 27,292 20,384 13,623
Other service revenue      
Revenue, net:      
Total revenue, net 57,153 38,750 24,274
Product revenue      
Operating costs and expenses:      
Costs of revenue 57,979 47,220 28,550
Franchise and service revenue      
Operating costs and expenses:      
Costs of revenue $ 15,911 $ 18,447 $ 12,716