Xponential Fitness (XPOF) Investor presentation summary

Market position and business overview

• Operates as a leading global franchisor in the $37B+ boutique fitness industry, with five brands across Pilates, barre, stretching, functional training, and yoga.

• Over 3,000 global studios open as of December 31, 2025, with 5,300+ licenses sold and 770K+ members.

• Asset-light, franchise-based model with high recurring revenue and strong free cash flow conversion.

• 66% of the U.S. population lives within 10 miles of a studio; potential for 6,300 U.S. studios identified.

• International expansion ongoing, with contracts in 29 countries and significant white space for growth.

Strategic pillars and growth drivers

• Focused on being the franchisor of choice, delivering world-class member experiences, leveraging data, fostering innovation, and expanding internationally.

• Platform synergies benefit franchisees, customers, and the franchisor, supporting attractive returns and multi-brand opportunities.

• Technology and analytics investments drive member engagement, personalization, and operational efficiency.

• Strategic partnerships with aggregators and health platforms expand reach and revenue streams.

Financial performance and outlook

• 2025 revenue at $315M (-2% vs. 2024), LTM Adjusted EBITDA at $112M (-4% vs. 2024), and system-wide sales at $1.7B (+13% vs. 2024).

• 78% of 2025 revenue is recurring, with high-margin royalty and international streams.

• Free cash flow conversion remains strong due to low capex requirements (~3% of revenue).

• 2026 guidance: $260–$270M revenue, $100–$110M Adjusted EBITDA, and $1.72–$1.8B North America system-wide sales.

• Q4 2025 saw flat revenue, a 26% drop in Adjusted EBITDA, and a 5% increase in total members.