Life Time Group (LTH) Investor presentation summary

Business overview and market position

• Operates a premier lifestyle and leisure brand with over 1.5 million members, offering health, fitness, and wellness experiences across 180 athletic country clubs as of March 31, 2025.

• Addresses a $6.3 trillion global health and wellness market, with significant presence in North America.

• Maintains a diversified portfolio in high-end markets, leveraging premium real estate and flexible, asset-light models.

• Largest pickleball provider in the nation, with 790+ dedicated courts and over 1.7 million participations in Q1 2025.

• Offers a wide range of in-center services, including personal training, spa, café, aquatics, and youth programs.

Financial performance and growth

• Achieved a 16.0% revenue CAGR and 16.1% adjusted EBITDA CAGR from 2001 to 2024.

• Total revenue reached $2.96 billion and adjusted EBITDA $800 million (27% margin) for 2025E.

• Over 70% of center revenue is recurring from subscriptions, supporting predictable cash flow.

• Revenue per membership and member visits have grown steadily, with a 59% increase in revenue per membership since 2019.

• Net debt leverage ratio improved to 2.0x as of Q1 2025, reflecting strengthened balance sheet.

Strategic initiatives and expansion

• Targets 10–12 new locations per year, with $25–30 million net invested capital per site.

• Pursues brand expansion through digital platforms, e-commerce, and performance/longevity services.

• Flexible real estate strategy includes sale-leasebacks and partnerships with mall owners, developers, and city governments.

• Historical average cash-on-cash return of 34% for centers opened between 2015–2021.

• Significant whitespace opportunities remain in North America for further growth.