As COVID restrictions are lifted, gym operators are seeing memberships rebound while at-home fitness brands try to pinpoint demand.
The latest: Xponential Fitness reported Q4 and full-year-year 2021 earnings on March 3, 2022.
A holding company of 10 boutique fitness brands, including Club Pilates, Pure Barre, CycleBar, Row House, StretchLab, AKT, YogaSix, Rumble, STRIDE, and BFT, Xponential is ramping up.
- The boutique studio operator increased revenue 45% YoY, to $155M, for FY2021.
- Paying members grew 70% and gym visits were up 50% in Q4 compared to Q4 2020.
- Revenue and adjusted EBITDA surpassed pre-COVID totals, up 20% and 66%, respectively, in 2021 vs. 2019.
All-access. Of note, Xponential launched XPASS nationwide. This ClassPass-like offering unlocks access to its 2,000 US locations across 10 studio concepts, plus its digital platform, through one subscription.
“Overall, in 2021, we were able to demonstrate the resilience of our business, and the momentum experienced in the fourth quarter places Xponential in a strong position in 2022.”
2022 outlook. The company plans to open more than 500 studios this year with a revenue target north of $200M.