Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash, cash equivalents and restricted cash $ 42,570 $ 32,739
Accounts receivable, net (Note 9) 28,864 25,884
Inventories 8,318 10,016
Prepaid expenses and other current assets 14,727 10,678
Deferred costs, current portion 5,258 4,598
Notes receivable from franchisees, net 377 232
Total current assets 100,114 84,147
Property and equipment, net 14,912 14,651
Right-of-use assets 21,060 24,036
Goodwill 135,240 135,240
Intangible assets, net 99,373 100,944
Deferred costs, net of current portion 38,656 39,923
Notes receivable from franchisees, net of current portion 97 100
Other assets 2,997 4,356
Total assets 412,449 403,397
Current Liabilities:    
Accounts payable 27,652 27,011
Accrued expenses 46,602 31,323
Deferred revenue, current portion 25,050 25,912
Current portion of long-term debt 5,497 5,397
Other current liabilities 18,103 18,244
Total current liabilities 122,904 107,887
Deferred revenue, net of current portion 102,318 105,935
Contingent consideration from acquisitions (Note 15) 8,644 17,729
Long-term debt, net of current portion, discount and issuance costs 351,562 341,742
Lease liability 22,582 23,858
Other liabilities 1,338 251
Total liabilities 609,348 597,402
Commitments and contingencies (Note 15)
Stockholders' equity (deficit):    
Additional paid-in capital 497,530 503,850
Receivable from shareholder (Note 9) (17,275) (16,891)
Accumulated deficit (703,760) (701,837)
Treasury stock, at cost, 75 shares outstanding as of March 31, 2025 and December 31, 2024 (1,697) (1,697)
Total stockholders' deficit attributable to Xponential Fitness, Inc. (225,198) (216,571)
Noncontrolling interests (88,511) (94,244)
Total stockholders' deficit (313,709) (310,815)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit 412,449 403,397
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, 2025 and December 31, 2024 116,810 116,810
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, 2025 and December 31, 2024 0 0
Class A Common Stock    
Stockholders' equity (deficit):    
Common stock 3 3
Class B Common Stock    
Stockholders' equity (deficit):    
Common stock $ 1 $ 1