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

Consolidated Statements of Operations

v3.25.4
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue, net:      
Total revenue, net $ 314,879 $ 320,346 $ 317,937
Operating costs and expenses:      
Selling, general and administrative expenses (Note 9) 152,001 176,854 168,863
Impairment of goodwill and other noncurrent assets 32,718 62,551 16,750
Depreciation and amortization 12,027 17,713 16,883
Marketing fund expense 40,484 26,673 22,683
Acquisition and transaction (income) expense (6,948) 8,886 (18,464)
Total operating costs and expenses 295,031 373,960 283,031
Operating income (loss) 19,848 (53,614) 34,906
Other expense (income):      
Interest income (3,212) (1,824) (1,611)
Other income (1,096) 0 0
Interest expense 49,189 46,250 38,733
Tax receivable agreement expense (benefit) (11) 998 3,193
Loss on debt extinguishment 27,327 0 0
Total other expense 72,197 45,424 40,315
Loss before income taxes (52,349) (99,038) (5,409)
Income taxes (benefit) 1,322 (342) 1,034
Net loss (53,671) (98,696) (6,443)
Less: net loss attributable to noncontrolling interests (14,988) (31,038) (2,442)
Net loss attributable to Xponential Fitness, Inc. $ (38,683) $ (67,658) $ (4,001)
Net loss per share of Class A common stock:      
Basic $ (1.47) $ (2.27) $ 1.08
Diluted $ (1.47) $ (2.27) $ (0.52)
Weighted average shares of Class A common stock outstanding:      
Basic 34,804 31,999 31,742
Diluted 34,804 31,999 39,705
Franchise revenue      
Revenue, net:      
Total revenue, net $ 192,642 $ 174,524 $ 143,247
Equipment revenue      
Revenue, net:      
Total revenue, net 35,022 54,199 56,454
Merchandise revenue      
Revenue, net:      
Total revenue, net 23,912 27,174 33,275
Franchise marketing fund revenue      
Revenue, net:      
Total revenue, net 36,468 33,986 27,292
Other service revenue      
Revenue, net:      
Total revenue, net 26,835 30,463 57,669
Product revenue      
Operating costs and expenses:      
Costs of revenue 42,411 59,477 60,331
Franchise and service revenue      
Operating costs and expenses:      
Costs of revenue $ 22,338 $ 21,806 $ 15,985