CycleBar, Club Pilates Owner Xponential Fitness Files for IPO

Xponential Fitness is going public.

The brands: A holding company of boutique fitness brands—including Club Pilates, Pure Barre, CycleBar, Row House, StretchLab, AKT, YogaSix, STRIDE, and Rumble—Xponential has been acquiring studio concepts since 2015.

By the numbers: According to an SEC filing, Xponential generated sales of $442M in 2020, down from $560M in 2019.

  • The fitness chain has sold 3,371 franchise licenses, with 1,765 studios in operation.
  • The franchisor said no permanent studio closures resulted from the pandemic.
  • Losses totaled $37M and $14M in 2019 and 2020, respectively. In Q1 2021, net losses reached $5M.

On the Pod: In his appearance on the Fitt Insider podcast, Xponential Fitness CEO Anthony Geisler said he was bullish on the future of boutique fitness.

During a pandemic, Geisler noted the company earned $400M+ in revenue, opened 250 new locations, and acquired boxing brand Rumble.

Going forward, Xponential could pursue additional acquisitions — with Geisler acknowledging that the holding company wants to add a strength-focused workout concept.

Eyeing an omnichannel future, the company plans to leverage its multi-studio membership XPASS and its GO digital platform to drive engagement. Xponential’s chief executive also said launching connected fitness equipment isn’t out of the question.