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Planet Fitness (PLNT) investor relations material
Planet Fitness Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue rose 13.3% to $340.9M, with system-wide same club sales up 8.2% and 23 new clubs opened, reaching 2,762 locations and 20.8M members globally.
Net income attributable to shareholders was $58.0M ($0.69 per diluted share), up from $48.6M, and adjusted net income was $72.6M ($0.86 per diluted share).
Black Card penetration reached 65.8%, up 340 bps year-over-year, with pilots for new amenities and a potential price increase under evaluation.
High School Summer Pass program and Gen Z engagement outpaced last year, supporting future growth.
Sale of eight California corporate clubs to a franchisee supports asset-light strategy and is expected to close in Q3 2025.
Financial highlights
Adjusted EBITDA grew 15.8% to $147.6M, with margin improving to 43.3%.
Franchise segment revenue increased 11% to $119.7M, corporate-owned clubs revenue rose 10.8% to $139.0M, and equipment segment revenue grew 21.5% to $82.2M.
System-wide sales reached $1.4B, up from $1.2B year-over-year.
Cash, equivalents, and marketable securities totaled $582.5M at quarter-end.
Net cash from operating activities for H1 2025 was $177.9M, up from $167.9M.
Outlook and guidance
2025 guidance reiterates revenue and adjusted EBITDA growth of ~10%, adjusted net income up 8–9%, and adjusted EPS up 11–12%.
Same club sales growth guidance narrowed to ~6% for 2025, reflecting elevated attrition from online cancellation rollout.
Expect 160–170 new club openings and 130–140 new equipment placements in 2025.
CapEx projected to rise ~20% year-over-year; net interest expense expected at ~$86M.
Management expects continued growth with 850 new clubs contractually committed.
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Frequently asked questions
Fitness for All
Planet Fitness is an American chain of gyms, focusing on creating a welcoming environment Established in 1992 in Dover, New Hampshire, the gym has strategically positioned itself as a "Judgement Free Zone," aiming to make first-time and casual gym-goers feel comfortable. The gyms are primarily found in the USA, but Planet Fitness now has locations outside of its home country.
A Clear Vision From the Start
When Michael and Marc Grondahl acquired a struggling gym in 1992, they sought to redefine the concept of fitness centers. The brothers recognized that intimidating atmospheres often deterred average individuals from joining or regularly attending gyms. As a result, they envisioned a place where everyone felt welcomed, regardless of their fitness level. Over the years, this vision, combined with affordable memberships, allowed the company to expand rapidly. By the 2000s, the brand had franchised, and its presence spread far beyond New Hampshire, establishing it as a major player in the fitness industry. Other publicly traded companies operating in the same sector include names like Peloton, Nautilus, and Lululemon.
Creating a Judgement-Free Workout Environment
What sets Planet Fitness apart is the design of its gyms. Instead of rows of heavy free weights and specialist equipment, the gyms focus on an abundance of cardio machines and strength training machines, catering to a different type of gym goes than traditional establishments might. While some locations offer group fitness classes, the essence of Planet Fitness is to allow members to undertake their own routines without feeling watched or judged.
Expansion
Today, Planet Fitness boasts over 2,000 clubs across the United States and has even ventured into international territories, including Canada and the Dominican Republic. They've continued to prioritize affordability with their memberships, with some levels even offering benefits like access to any location and bringing a guest for free. Furthermore, the brand introduced the Planet Fitness app, providing members with workout guides, tracking tools, and even the ability to check how crowded a branch is before heading in.
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