Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current Assets:    
Cash, cash equivalents and restricted cash $ 27,218 $ 37,094
Accounts receivable, net (Note 10) 32,242 32,751
Inventories 15,270 14,724
Prepaid expenses and other current assets 5,661 5,856
Deferred costs, current portion 7,332 6,620
Notes receivable from franchisees, net 65 203
Total current assets 87,788 97,248
Property and equipment, net 19,436 19,502
Right-of-use assets 55,623 71,413
Goodwill 173,947 171,601
Intangible assets, net 124,105 120,149
Deferred costs, net of current portion 45,546 46,541
Notes receivable from franchisees, net of current portion 647 802
Other assets 1,350 1,442
Total assets 508,442 528,698
Current Liabilities:    
Accounts payable 24,995 19,119
Accrued expenses 12,734 14,088
Deferred revenue, current portion 30,110 34,674
Current portion of long-term debt 5,147 4,760
Other current liabilities 19,409 19,666
Total current liabilities 92,395 92,307
Deferred revenue, net of current portion 115,866 117,305
Contingent consideration from acquisitions (Note 16) 12,971 8,666
Long-term debt, net of current portion, discount and issuance costs 318,812 319,261
Lease liability 54,258 70,141
Other liabilities 5,625 9,152
Total liabilities 599,927 616,832
Commitments and contingencies (Note 16)
Stockholders' equity (deficit):    
Additional paid-in capital 506,017 521,998
Receivable from shareholder (Note 10) (15,775) (15,426)
Accumulated deficit (632,994) (630,127)
Treasury stock, at cost, 75 shares outstanding as of March 31, 2024 and December 31, 2023 (1,697) (1,697)
Total stockholders' deficit attributable to Xponential Fitness, Inc. (144,444) (125,247)
Noncontrolling interests (69,807) (77,547)
Total stockholders' deficit (214,251) (202,794)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit 508,442 528,698
Redeemable Convertible Preferred Stock    
Current Liabilities:    
Redeemable convertible preferred stock, $0.0001 par value, 400 shares authorized, 115 shares issued and outstanding as of March 31, 2024 and December 31, 2023 122,766 114,660
Undesignated Preferred Stock    
Stockholders' equity (deficit):    
Undesignated preferred stock, $0.0001 par value, 4,600 shares authorized, none issued and outstanding as of March 31, 2024 and December 31, 2023 0 0
Class A Common Stock    
Stockholders' equity (deficit):    
Common stock 3 3
Class B Common Stock    
Stockholders' equity (deficit):    
Common stock $ 2 $ 2