Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.23.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current Assets:    
Cash, cash equivalents and restricted cash $ 28,135 $ 37,370
Accounts receivable, net (Note 10) 22,408 25,555
Inventories 12,962 10,864
Prepaid expenses and other current assets 9,918 6,294
Deferred costs, current portion 4,083 4,131
Notes receivable from franchisees, net 1,501 1,520
Total current assets 79,007 85,734
Property and equipment, net 19,171 18,524
Right-of-use assets 40,487 30,079
Goodwill 165,697 165,697
Intangible assets, net 134,691 137,175
Deferred costs, net of current portion 43,530 43,620
Notes receivable from franchisees, net of current portion 851 1,067
Other assets 862 795
Total assets 484,296 482,691
Current Liabilities:    
Accounts payable 18,741 16,185
Accrued expenses 14,328 12,295
Deferred revenue, current portion 31,276 31,996
Current portion of long-term debt 4,260 3,035
Other current liabilities 8,553 9,265
Total current liabilities 77,158 72,776
Deferred revenue, net of current portion 110,809 109,465
Contingent consideration from acquisitions (Note 16) 43,665 28,182
Long-term debt, net of current portion, discount and issuance costs 257,626 133,039
Lease liability 39,888 30,583
Other liabilities 6,611 8,633
Total liabilities 535,757 382,678
Commitments and contingencies (Note 16)
Stockholders' equity (deficit):    
Additional paid-in capital 438,038 505,186
Receivable from Member/shareholder (Note 10) (19,956) (16,369)
Accumulated deficit (639,207) (641,903)
Treasury stock, at cost, 75 shares outstanding as of March 31, 2023 and December 31, 2022 (1,697) (1,697)
Total stockholders' deficit attributable to Xponential Fitness, Inc. (222,817) (154,778)
Noncontrolling interests (55,934) (53,284)
Total stockholders' deficit (278,751) (208,062)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit 484,296 482,691
Redeemable Convertible Preferred Stock    
Current Liabilities:    
Redeemable convertible preferred stock, $0.0001 par value, 400 shares authorized, 115 and 200 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively 227,290 308,075
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, 2023 and December 31, 2022 0 0
Class A Common Stock    
Stockholders' equity (deficit):    
Common stock 3 3
Class B Common Stock    
Stockholders' equity (deficit):    
Common stock $ 2 $ 2