Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.24.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash, cash equivalents and restricted cash $ 37,774 $ 37,094
Accounts receivable, net (Note 10) 29,552 32,751
Inventories 10,608 14,724
Prepaid expenses and other current assets 8,341 5,856
Deferred costs, current portion 9,022 6,620
Notes receivable from franchisees, net 279 203
Total current assets 95,576 97,248
Property and equipment, net 18,840 19,502
Right-of-use assets [1] 34,160 71,413
Goodwill 163,036 171,601
Intangible assets, net 117,753 120,149
Deferred costs, net of current portion 41,616 46,541
Notes receivable from franchisees, net of current portion 103 802
Other assets 1,093 1,442
Total assets 472,177 528,698
Current liabilities:    
Accounts payable 21,297 19,119
Accrued expenses 21,467 14,088
Deferred revenue, current portion 28,560 34,674
Current portion of long-term debt 5,397 4,760
Other current liabilities 17,423 19,666
Total current liabilities 94,144 92,307
Deferred revenue, net of current portion 108,799 117,305
Contingent consideration from acquisitions (Note 16) 15,494 8,666
Long-term debt, net of current portion, discount and issuance costs 342,038 319,261
Lease liability 33,501 70,141
Other liabilities 1,537 9,152
Total liabilities 595,513 616,832
Commitments and contingencies (Note 16)
Stockholders' equity (deficit):    
Additional paid-in capital 516,582 521,998
Receivable from shareholder (Note 10) (16,508) (15,426)
Accumulated deficit (654,095) (630,127)
Treasury stock, at cost, 75 shares outstanding as of September 30, 2024 and December 31, 2023 (1,697) (1,697)
Total stockholders' deficit attributable to Xponential Fitness, Inc. (155,713) (125,247)
Noncontrolling interests (84,433) (77,547)
Total stockholders' deficit (240,146) (202,794)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit 472,177 528,698
Redeemable Convertible Preferred Stock    
Current liabilities:    
Redeemable convertible preferred stock, $0.0001 par value, 400 shares authorized, 115 shares issued and outstanding as of September 30, 2024 and December 31, 2023 116,810 114,660
Undesignated Preferred Stock    
Stockholders' equity (deficit):    
Undesignated preferred stock, $0.0001 par value, 4,600 shares authorized, none issued and outstanding as of September 30, 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
[1] As of September 30, 2024, includes impact of impairment charges of $4,323 related to the restructuring plan. See Note 17 for additional information.