Xponential Fitness (XPOF) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $62.3M, down 21% YoY; Adjusted EBITDA was $24.3M, down 27%, while net income was $4.9M versus a $6.7M loss.

• The global network had 3,185 studios open and 775K members at September 30, 2026.

• Priorities include improving franchisee and studio economics, disciplined expansion, stronger financial performance, and an elevated member experience.

Financial highlights

• Q3 operating income rose to $19.5M from $3.6M; diluted GAAP EPS was $0.10 versus a loss per share of $0.18.

• Adjusted net income was $2.2M versus $19.3M; adjusted diluted EPS was $0.04 versus $0.34.

• Nine-month revenue was $188.9M versus $231.9M; Adjusted EBITDA was $66.7M versus $88.9M.

• Q3 franchise revenue fell 16% to $43.4M, equipment revenue fell 42% to $4.3M, and merchandise revenue fell 92% to $0.4M.

Outlook and guidance

• FY26 revenue guidance remained $250M–$260M and Adjusted EBITDA guidance $91M–$94M; EBITDA guidance narrowed from $91M–$97M.

• FY26 net new studio openings guidance was 124–130, reduced from 150; the midpoint was 37% below 2025.

• FY26 North America systemwide sales guidance remained $1.70B–$1.75B, with the midpoint 1% below 2025.

• Club Pilates’ long-term objective is more than 2,000 locations within five years, with responsible development and sustainable unit economics prioritized.