Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.25.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash, cash equivalents and restricted cash $ 32,739 $ 37,094
Accounts receivable, net (Note 11) 31,693 31,609
Inventories 10,016 15,588
Prepaid expenses and other current assets 4,869 5,593
Deferred costs, current portion 4,598 6,893
Notes receivable from franchisees, net 232 203
Total current assets 84,147 96,980
Property and equipment, net 14,651 19,502
Right-of-use assets [1] 24,036 73,501
Goodwill 135,240 170,701
Intangible assets, net 100,944 120,065
Deferred costs, net of current portion 39,923 46,541
Notes receivable from franchisees, net of current portion 100 802
Other assets 4,356 1,442
Total assets 403,397 529,534
Current liabilities:    
Accounts payable 27,011 18,620
Accrued expenses 31,323 19,875
Deferred revenue, current portion 25,912 34,807
Current portion of long-term debt 5,397 4,760
Other current liabilities 18,244 24,172
Total current liabilities 107,887 102,234
Deferred revenue, net of current portion 105,935 117,305
Contingent consideration from acquisitions (Note 18) 17,729 8,666
Long-term debt, net of current portion, discount and issuance costs 341,742 319,261
Lease liability 23,858 71,975
Other liabilities 251 4,965
Total liabilities 597,402 624,406
Commitments and contingencies (Note 18)
Stockholders' equity (deficit):    
Additional paid-in capital 503,850 521,307
Receivable from shareholder (Note 11) (16,891) (15,440)
Accumulated deficit (701,837) (634,179)
Treasury stock, at cost, 75 shares outstanding as of December 31, 2024 and December 31, 2023 (1,697) (1,697)
Total stockholders' deficit attributable to Xponential Fitness, Inc. (216,571) (130,004)
Noncontrolling interests (94,244) (79,528)
Total stockholders' deficit (310,815) (209,532)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit 403,397 529,534
Redeemable Convertible Preferred Stock    
Current liabilities:    
Redeemable convertible preferred stock, $0.0001 par value, 400 shares authorized,115 shares issued and outstanding as of December 31, 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 December 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 $ 1 $ 2
[1] As of December 31, 2024, includes impact of impairment charges of $7,012 related to the restructuring plan. See Note 19 for additional information.