Irvine, California-based franchisor of fitness brands, Xponential Fitness Inc. (XPOF), has announced its three-year operating targets ahead of an analyst and investor day. The company is aiming to achieve significant growth by focusing on key metrics.
Ambitious Targets for 2026
Xponential Fitness aims to open 500 new studios by 2026. This expansion plan will contribute to the company's goal of achieving system-wide sales of $2.33 billion and generating revenue of $405.0 million within the next three years.
Positive Outlook for 2023
Encouragingly, Xponential Fitness is confident in its ability to meet or exceed its guidance range for 2023. Based on the second-quarter earnings provided on August 3, the company expects to open between 540 and 560 new studios, with system-wide sales ranging from $1.385 billion to $1.395 billion and revenue totaling $295.0 million to $305.0 million.
Collaboration with Gympass
In an effort to expand its reach and offer its services to a wider audience, Xponential Fitness has formed a collaboration agreement with Gympass, a leading corporate well-being platform. This partnership will allow all ten of Xponential Fitness' brands to be accessible on the Gympass app starting in October. By utilizing excess inventory, Xponential Fitness intends to attract new customers and increase studio revenue through this strategic alliance.
Xponential Fitness' stock showed promising growth in premarket trading, rising by 2%. However, it has experienced a decline of 1.7% in year-to-date performance. In comparison, the S&P 500 has seen a 17% increase over the same period.
Our Latest News
Marriott International Inc. reports strong second-quarter results, exceeding expectations and raising full-year outlook. The company's net income rose to $726 m...
The European stock market closed flat on Monday, with the Stoxx Europe 600 index ending the day at 459.68. This article provides updates on top gainers and lose...
Bradda Head Lithium shares surge 18% following updated estimates for lithium resources in Arizona, triggering a $2.5 million payment. Chairman optimistic about...