Smartfit (SMFT3) investor relations material

Executive summary

• Achieved 22% year-over-year net revenue growth in Q2 2026, reaching R$2.18 billion, driven by strong expansion in the club network and robust performance across all business segments.

• Added 352 clubs in the last 12 months, totaling 2,170 clubs across 16 countries, reinforcing leadership in Latin America.

• Member base reached 5.6 million, up 8% year-over-year, with TotalPass B2B platform growing 70% to 2.2 million members.

• TotalPass and digital platforms now represent a larger share of gross profit and revenue, supporting ecosystem diversification.

• Continued strong network expansion, diversified revenue streams, and maintained leadership in the high-value, low-price fitness segment in Latin America.

Financial highlights

• Net revenue reached R$2,177 million in Q2 2026, up 22% year-over-year and 4% sequentially.

• EBITDA hit R$712 million (+24% year-over-year), with a margin of 32.7% (+0.5 p.p. YoY).

• Recurring net income was R$204 million (+8% YoY), with a recurring net margin of 9.4%.

• Cash gross profit was R$1,131 million (+24% YoY), with a record margin of 51.9% (+1.1 p.p. YoY).

• CAPEX totaled R$625 million (+37% YoY), mainly for expansion (R$463 million) and maintenance (R$152 million).

Outlook and guidance

• On track to open 330–350 clubs in 2026, with 80% expected to be owned; expansion concentrated in the second half of the year.

• Expansion pipeline remains robust, with 134 clubs under construction and over 200 signed agreements for future openings.

• Confident in sustaining growth pace and capital structure to fund expansion; no change to annual guidance or long-term growth expectations.

• Ongoing investments in branding, new contracts, and digital platforms to support growth in TotalPass and other business lines.