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Planet Fitness (PLNT) investor relations material
Planet Fitness Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Ended 2025 with 20.8 million members and nearly 2,900 clubs globally, reflecting strong brand value and member experience.
Achieved 1.1 million net new members and opened 181 new clubs, including 158 franchisee-owned and 23 corporate-owned locations, the highest Q4 openings in company history.
Strategic focus on brand promise, member experience, product refinement, and accelerated club growth drove results.
High School Summer Pass program saw record participation and conversion, supporting youth engagement.
Continued investment in technology, AI-driven CRM, and marketing efficiency to enhance retention and acquisition.
Financial highlights
Same-club sales grew 6.7% year-over-year; revenue increased 12.1% to $1.32B; adjusted EBITDA up 13% to $551.6M; adjusted diluted EPS up 19%.
Q4 2025 revenue was $376.3M, up 10.5% year-over-year; system-wide same-club sales up 5.7%.
Adjusted EBITDA for Q4 was $146.3M (38.9% margin); full-year adjusted EBITDA margin rose to 41.7%.
Net income for Q4 was $60.7M; adjusted net income $69M; adjusted EPS $0.83.
Equipment segment revenue rose 15.3% in Q4, with replacement equipment accounting for 60% of segment revenue.
Outlook and guidance
2026 guidance: system-wide same-club sales growth of 4%-5%, 180-190 new club openings, and 9% total revenue growth.
Adjusted EBITDA expected to grow ~10%; adjusted net income growth of 4%-5%; adjusted diluted EPS up 9%-10%.
CapEx projected to rise 10%-15%; D&A up ~10%; net interest expense expected at $114M.
Black Card price increase planned post-peak join season, with 75% of comp growth from rate and 25% from volume.
Three-year growth algorithm reiterated, with 2026 as the lowest growth year due to equipment cycle and club sales.
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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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