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

Consolidated Balance Sheets

v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash, cash equivalents and restricted cash $ 45,863 $ 32,739
Accounts receivable, net 18,449 25,884
Inventories 2,222 10,016
Prepaid expenses and other current assets 24,151 10,678
Deferred costs, current portion 3,671 4,598
Notes receivable, net 290 232
Total current assets 94,646 84,147
Property and equipment, net 10,891 14,651
Right-of-use assets 13,736 24,036
Goodwill 127,789 135,240
Intangible assets, net 66,507 100,944
Deferred costs, net of current portion 24,860 39,923
Notes receivable from franchisees, net of current portion 0 100
Other assets 7,205 4,356
Total assets 345,634 403,397
Current liabilities:    
Accounts payable 26,282 27,011
Accrued expenses 51,202 31,323
Deferred revenue, current portion 19,324 25,912
Current portion of long-term debt 5,250 5,397
Other current liabilities 13,917 18,244
Total current liabilities 115,975 107,887
Deferred revenue, net of current portion 69,567 105,935
Contingent consideration from acquisitions (Note 16) 10,309 17,729
Long-term debt, net of current portion, discount and issuance costs 500,500 341,742
Lease liabilities, net of current portion 14,243 23,858
Other liabilities 6,993 251
Total liabilities 717,587 597,402
Commitments and contingencies (Note 16)
Stockholders' equity (deficit):    
Additional paid-in capital 489,732 503,850
Receivable from shareholder (Note 9) (16,603) (16,891)
Accumulated deficit (740,520) (701,837)
Treasury stock, at cost, 75 shares outstanding as of December 31, 2025 and December 31, 2024 (1,697) (1,697)
Total stockholders' deficit attributable to Xponential Fitness, Inc. (269,084) (216,571)
Noncontrolling interests (102,869) (94,244)
Total stockholders' deficit (371,953) (310,815)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit 345,634 403,397
Redeemable Convertible Preferred Stock    
Current liabilities:    
Redeemable convertible preferred stock, $0.0001 par value, 400 shares authorized, none and 115 shares issued and outstanding as of December 31, 2025 and December 31, 2024 0 116,810
Undesignated Preferred Stock    
Stockholders' equity (deficit):    
Undesignated preferred stock, $0.0001 par value, 4,600 shares authorized, none issued and outstanding as of December 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