Xponential Fitness’ Q3 Performance Driven by Studio Openings
Xponential Fitness reported system-wide sales of $432.2 million in Q3 2025, marking a 10% increase year-over-year, mainly fueled by growth from net new studio openings. While same-store sales declined slightly by 0.8% for the quarter, they grew by 5.4% on a two-year stacked basis. The boutique franchise experienced a slight drop in reported sales along with a smaller loss during this period.
Financial Highlights: Q3 2025 vs Q3 2024
“Over my first 90 days, I’ve gained a much clearer picture of our strengths and opportunities ahead. This time has only reinforced my confidence in both the power of our brands and the commitment of our franchisees,” said Mike Nuzzo, the recently appointed CEO of Xponential Fitness, Inc. “That said, it is clear that there is significant potential for improvement across our operations, and I’m excited to work with the team to unlock and realize that value for all stakeholders.”
On August 7, Xponential Fitness announced that Mike Nuzzo, previously CEO of Eyemart Express, replaced Mark King, the former President of Adidas America, as CEO.
Third Quarter Results Ended September 30, 2025
Liquidity and Capital Resources
- Cash, cash equivalents, and restricted cash totaled approximately $41.5 million as of September 30, 2025.
- Total long-term debt stood at $376.4 million.
- Net cash provided by operating activities was $17.6 million for the nine-month period ending September 30, 2025.
Xponential Fitness shows promising growth driven by new studios despite slight same-store sales decline, under fresh leadership focused on operational improvements.