Life Time (LTH) - 2025 Q2 - Quarterly Report

PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS This section presents Life Time Group Holdings, Inc.'s unaudited condensed consolidated financial statements for the period ended June 30, 2025, including balance sheets, statements of operations, comprehensive income, stockholders' equity, and cash flows, with detailed notes providing essential context for the financial figures Condensed Consolidated Balance Sheets This section provides a snapshot of the company's financial position at specific points in time, detailing assets, liabilities, and equity | Metric | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | | :-------------------------------- | :----------------------------- | :------------------------------- | | Total assets | $7,600,207 | $7,152,537 | | Total liabilities | $4,730,964 | $4,542,187 | | Total stockholders' equity | $2,869,243 | $2,610,350 | - Total assets increased by $447.67 million from December 31, 2024, to June 30, 2025, primarily driven by increases in cash and cash equivalents, property and equipment, and operating lease right-of-use assets[10] - Total stockholders' equity increased by $258.89 million, reflecting net income and additional paid-in capital[10] Condensed Consolidated Statements of Operations This section details the company's revenues, expenses, and net income over specific periods, illustrating operational profitability and overall financial performance | Metric (in thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Total revenue | $761,469 | $667,761 | $1,467,510 | $1,264,478 | | Income from operations| $108,449 | $104,756 | $216,119 | $176,813 | | Net income | $72,102 | $52,805 | $148,244 | $77,722 | | Basic EPS | $0.33 | $0.27 | $0.69 | $0.39 | | Diluted EPS | $0.32 | $0.26 | $0.66 | $0.38 | - Net income for the three months ended June 30, 2025, increased by $19.30 million (36.5%) compared to the same period in 2024, and for the six months, it increased by $70.52 million (90.7%)[12] - Total revenue grew by $93.71 million (14.0%) for the three months and $203.03 million (16.1%) for the six months ended June 30, 2025, year-over-year[12] Condensed Consolidated Statements of Comprehensive Income This section presents the total comprehensive income, which includes net income and other comprehensive income (loss) items not recognized in the income statement | Metric (in thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net income | $72,102 | $52,805 | $148,244 | $77,722 | | Other comprehensive income (loss) | $3,393 | $(649) | $3,458 | $(2,316) | | Comprehensive income | $75,495 | $52,156 | $151,702 | $75,406 | - Other comprehensive income saw a positive shift, with a gain of $3.39 million for the three months and $3.46 million for the six months ended June 30, 2025, compared to losses in the prior year periods, primarily due to foreign currency translation adjustments and unrealized gains on derivative instruments[14] Condensed Consolidated Statements of Stockholders' Equity This section details changes in the company's equity accounts, including common stock, additional paid-in capital, and accumulated deficit, reflecting transactions with owners and retained earnings | Metric (in thousands) | June 30, 2025 | December 31, 2024 | | :-------------------- | :------------ | :---------------- | | Common Stock | $2,199 | $2,075 | | Additional Paid-In Capital | $3,148,712 | $3,041,645 | | Accumulated Deficit | $(272,329) | $(420,573) | | Total Equity | $2,869,243 | $2,610,350 | - Total stockholders' equity increased by $258.89 million from December 31, 2024, to June 30, 2025, driven by net income, share-based compensation, stock option exercises, and common stock issuances related to an asset acquisition[16][18] - Accumulated deficit decreased significantly from $(420.57) million at December 31, 2024, to $(272.33) million at June 30, 2025, primarily due to net income[16][18] Condensed Consolidated Statements of Cash Flows This section summarizes the cash inflows and outflows from operating, investing, and financing activities, providing insight into the company's liquidity and solvency | Metric (in thousands) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------- | :----------------------------- | :----------------------------- | | Net cash provided by operating activities | $379,554 | $260,830 | | Net cash used in investing activities | $(230,651) | $(154,281) | | Net cash provided by (used in) financing activities | $19,291 | $(87,102) | | Increase in cash and cash equivalents and restricted cash and cash equivalents | $168,371 | $19,392 | - Net cash provided by operating activities increased by $118.72 million (45.5%) year-over-year, reflecting improved business performance[20] - Net cash used in investing activities increased by $76.37 million (49.5%) due to higher capital expenditures[20] - Financing activities shifted from a net cash outflow of $87.10 million in 2024 to a net cash inflow of $19.29 million in 2025, primarily due to lower debt repayments and higher proceeds from stock option exercises[20] Notes to Unaudited Condensed Consolidated Financial Statements This section provides detailed explanations and additional information about the figures presented in the financial statements, clarifying accounting policies, significant transactions, and other relevant disclosures 1. Nature of Business and Basis of Presentation This section describes the company's core operations and the accounting principles used in preparing the financial statements - Life Time Group Holdings, Inc. operates 184 athletic country clubs across 31 states and one Canadian province as of June 30, 2025, providing premium health, fitness, and wellness experiences[21] - The financial statements are unaudited and prepared in accordance with GAAP for interim reporting, reflecting normal recurring adjustments[22] 2. Summary of Significant Accounting Policies This section outlines the key accounting policies and methods applied in the preparation of the financial statements, ensuring consistency and comparability - The company operates as one reportable segment, focusing on premium health, fitness, and wellness experiences[24] - New FASB guidance on income tax disclosures (effective Dec 31, 2025) and expense caption disclosures (effective Dec 31, 2027) are being evaluated for impact[26][27] Fair Value Measurements (June 30, 2025) | Category | Level 1 (in thousands) | Level 2 (in thousands) | Level 3 (in thousands) | Total (in thousands) | | :------- | :--------------------- | :--------------------- | :--------------------- | :------------------- | | Assets | — | $21,551 | — | $21,551 | | Liabilities | $14,608 | $4,862 | — | $19,470 | - The company received $12.9 million in net cash proceeds from employee retention credits under the CARES Act during the three and six months ended June 30, 2025, recognized as Other Income[35] 3. Supplemental Balance Sheet and Cash Flow Information This section provides additional detail on specific balance sheet accounts and cash flow components, offering further insights into financial movements Prepaid Expenses and Other Current Assets (in thousands) | Item | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :---------------- | | Property held for sale | $2,471 | $1,866 | | Construction contract receivables | $12,784 | $8,513 | | Interest rate swap assets | $4,771 | — | | Prepaid insurance | $6,465 | $2,351 | | Prepaid commissions | $7,030 | $6,476 | | Prepaid rent | $4,884 | $3,927 | | Prepaid software licenses and maintenance | $12,262 | $5,199 | | Prepaid payroll | — | $11,883 | | Other | $14,281 | $12,611 | | Total | $64,948 | $52,826 | Accrued Expenses and Other Current Liabilities (in thousands) | Item | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :---------------- | | Real estate taxes | $36,060 | $34,779 | | Accrued interest | $19,701 | $10,170 | | Payroll liabilities | $44,205 | $44,347 | | Self-insurance accruals | $31,914 | $29,437 | | Corporate accruals | $40,788 | $35,653 | | Other | $24,992 | $25,058 | | Total | $197,660 | $179,444 | - Net cash paid for interest (including cash settlements associated with interest rate swaps) decreased from $69.98 million in the six months ended June 30, 2024, to $36.72 million in the same period of 2025[38] 4. Property and Equipment This section provides details on the company's tangible assets, including acquisitions and their impact on the balance sheet - In April 2025, the company acquired existing health club and racquet facilities for $59.7 million, paid with $19.3 million in cash and $39.7 million in common stock, allocating the entire purchase price to property and equipment[40] 5. Revenue This section breaks down the company's revenue streams, highlighting key drivers of sales and changes in contract liabilities Revenue by Major Stream (in thousands) | Revenue Stream | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Membership dues and enrollment fees | $527,309 | $462,696 | $1,028,962 | $888,107 | | In-center revenue| $208,556 | $182,311 | $392,557 | $337,385 | | Total center revenue | $735,865 | $645,007 | $1,421,519 | $1,225,492 | | Other revenue | $25,604 | $22,754 | $45,991 | $38,986 | | Total revenue| $761,469 | $667,761 | $1,467,510 | $1,264,478 | - Total revenue increased by 14.0% for the three months and 16.1% for the six months ended June 30, 2025, compared to the prior year, driven by growth in membership dues and in-center revenue[41] - Contract liabilities (deferred revenue) were $61.0 million at June 30, 2025, up from $58.4 million at December 31, 2024, representing payments received in advance for services not yet rendered[41][43] 6. Derivative Instruments and Hedging Activities This section describes the company's use of financial instruments to manage risk, particularly interest rate swaps, and their accounting treatment - During Q2 2025, the company entered into interest rate swap agreements with an initial aggregate notional amount of $997.5 million, effectively converting variable interest payments on its Term Loan Facility to a fixed rate of 3.409% plus an applicable margin[49][55] - These interest rate swaps are designated as cash flow hedges, with unrealized gains or losses recognized in accumulated other comprehensive loss (AOCL) and realized gains or losses reclassified to interest expense[51] Impact of Interest Rate Swaps on AOCL (Six Months Ended June 30, 2025, in thousands) | Item | Amount | | :------------------------------------------------ | :----- | | AOCL balance at December 31, 2024 | $(12,797) | | Other comprehensive income before reclassifications | $4,974 | | Amounts reclassified from AOCL to earnings | $(1,516) | | AOCL balance at June 30, 2025 | $(9,339) | 7. Debt This section provides a detailed breakdown of the company's debt obligations, including term loans, senior secured notes, and revolving credit facilities, along with associated interest rates Debt Composition (in thousands) | Debt Type | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :---------------- | | Term Loan Facility | $995,000 | $1,000,000 | | Revolving Credit Facility | — | $10,000 | | 6.000% Senior Secured Notes | $500,000 | $500,000 | | Mortgage Notes | $35,713 | $41,865 | | Other debt | $3,436 | $3,448 | | Fair value adjustment | $207 | $284 | | Total debt | $1,534,356| $1,555,597 | - The effective fixed interest rate on the Term Loan Facility was 5.659% at June 30, 2025, following an issuer credit rating upgrade that reduced the applicable margin by 0.25% to 2.25%[55] - As of June 30, 2025, there were no outstanding borrowings under the $650.0 million Revolving Credit Facility, with $618.5 million available after accounting for $31.5 million in outstanding letters of credit[56] 8. Leases This section details the company's leasing activities, including sale-leaseback transactions and their impact on assets and liabilities - During the six months ended June 30, 2025, the company completed a sale-leaseback transaction for three properties, generating $149.1 million in net cash proceeds but recognizing a $12.5 million loss due to the sales price exceeding the fair value[61] - This transaction resulted in the recognition of $77.1 million in right-of-use assets and $76.1 million in lease liabilities[62] 9. Stockholders' Equity This section provides information on share-based compensation expenses, equity awards granted, and the accounting treatment of various equity-related transactions Share-Based Compensation Expense (in thousands) | Period | Equity-Classified Awards | Liability-Classified Awards | Total | | :------------------------------- | :----------------------- | :-------------------------- | :---- | | Three Months Ended June 30, 2025 | $11,900 | $4,500 | $16,400 | | Six Months Ended June 30, 2025 | $22,200 | $6,100 | $28,300 | | Three Months Ended June 30, 2024 | $10,100 | $1,000 | $11,100 | | Six Months Ended June 30, 2024 | $18,000 | $700 | $18,700 | - During the six months ended June 30, 2025, the company granted approximately 1.2 million restricted stock units and 0.3 million performance stock units under the 2021 Incentive Award Plan[65][66] - The 2025 short-term incentive program awards, expected to be settled in fully-vested shares, are accounted for as liability-classified share-based payment awards[67] 10. Income Per Share This section presents the basic and diluted earnings per share, along with the weighted-average common shares outstanding, providing insight into profitability on a per-share basis Income Per Common Share | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Basic EPS | $0.33 | $0.27 | $0.69 | $0.39 | | Diluted EPS | $0.32 | $0.26 | $0.66 | $0.38 | | Weighted-average common shares outstanding – basic | 219,286 | 198,903 | 215,642 | 198,200 | | Weighted-average common shares outstanding – diluted | 225,511 | 206,044 | 224,585 | 204,851 | - Diluted EPS increased by $0.06 (23.1%) for the three months and $0.28 (73.7%) for the six months ended June 30, 2025, compared to the prior year periods[71] 11. Commitments and Contingencies This section discloses potential future obligations and uncertain events, such as legal proceedings, that could impact the company's financial position - The company is appealing a July 2024 judgment dismissing its claims against Zurich American Insurance Company regarding COVID-19 related business interruption and Builders' Risk policies[72] - Management believes the outcome of current legal actions and claims will not have a material adverse impact on the company's consolidated financial position, results of operations, or cash flows[73][75] 12. Subsequent Events This section reports significant events that occurred after the balance sheet date but before the financial statements were issued, which may require disclosure - No material subsequent events requiring recognition or disclosure were identified between June 30, 2025, and the financial statements' issuance date[76] ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS This section provides management's perspective on the company's financial condition and results of operations, highlighting key business strategies, macroeconomic impacts, and a detailed comparison of financial performance for the three and six months ended June 30, 2025, versus 2024, also defining and reconciling non-GAAP financial measures and discussing liquidity and capital resources Forward-Looking Statements This section cautions readers about statements that are not historical facts, indicating they involve risks and uncertainties that could cause actual results to differ materially - The discussion includes forward-looking statements regarding plans, strategies, financial outlook, growth opportunities, and economic trends, which are subject to risks and uncertainties[77][78] - Investors are cautioned not to place undue reliance on forward-looking statements, as actual results may differ materially due to various factors, including those discussed in the company's Annual Report on Form 10-K[78] Overview This section provides a general summary of the company's business, its market position, strategic initiatives, and key operational highlights - Life Time, the 'Healthy Way of Life Company,' serves over 1.6 million individual members across 184 athletic country clubs in 31 states and one Canadian province as of June 30, 2025[80] - Average revenue per center membership increased to $1,733 for the six months ended June 30, 2025, from $1,541 in the prior year, with total club visits exceeding 62 million[82] - The company is expanding its portfolio with an asset-light model, targeting 10-12 new locations per year, and 12-14 new club openings in 2026, focusing on affluent markets[84] - Strategic initiatives include pickleball, Dynamic Personal Training, ARORA community for older members, MIORA health offerings, and digital platform investments, including AI-driven personal companion L.AI.C[85] - The OBBB Act, enacted July 4, 2025, reinstates full expensing for qualified business property and modifies interest deduction limitations, with the company currently assessing its impact[89] Non-GAAP Financial Measures This section defines and explains non-GAAP financial measures used by management to assess performance, providing reconciliations to their most directly comparable GAAP measures - Adjusted net income is defined as net income excluding share-based compensation, (gain) loss on sale-leaseback, capital transaction costs, legal settlements, asset impairment, severance, and other non-indicative items, less tax effects[91] - Adjusted EBITDA is defined as net income before interest, taxes, depreciation, and amortization, excluding share-based compensation, (gain) loss on sale-leaseback, capital transaction costs, legal settlements, asset impairment, severance, and other non-indicative items[92] - Free cash flow is defined as net cash provided by operating activities less capital expenditures (net of reimbursements), plus net proceeds from sale-leaseback transactions and land sales[94] Non-GAAP Measurements and Key Performance Indicators This section presents key operational and financial metrics, including both GAAP and non-GAAP measures, to evaluate the company's performance and growth Key Performance Indicators | Metric | June 30, 2025 | June 30, 2024 | | :-------------------------------- | :------------ | :------------ | | Total memberships | 898,850 | 878,767 | | Average Center revenue per center membership (6 months) | $1,733 | $1,541 | | Comparable center revenue (6 months) | 12.0% | 11.6% | | Net new center openings (6 months) | 5 | 4 | | Total centers (end of period) | 184 | 175 | | Total center square footage (end of period) | 18,000,000 | 17,200,000 | GAAP and Non-GAAP Financial Measures (Six Months Ended June 30, in thousands) | Metric | 2025 | 2024 | | :-------------------------------- | :------------ | :------------ | | Net income | $148,244 | $77,722 | | Net income margin | 10.1% | 6.1% | | Adjusted net income | $172,374 | $83,376 | | Adjusted net income margin | 11.7% | 6.6% | | Adjusted EBITDA | $402,565 | $319,523 | | Adjusted EBITDA margin | 27.4% | 25.3% | | Net cash provided by operating activities | $379,554 | $260,830 | | Free cash flow | $153,839 | $108,722 | - Adjusted EBITDA increased by $83.04 million (26.0%) for the six months ended June 30, 2025, compared to the prior year, with Adjusted EBITDA margin improving from 25.3% to 27.4%[99] Factors Affecting the Comparability of our Results of Operations This section discusses various internal and external factors, such as real estate strategy, macroeconomic conditions, and accounting policy changes, that influence the comparability of financial results across periods - The company's asset-light real estate strategy, with approximately 69% of centers leased, leads to increased rent expense and impacts comparability of results[106] - Macroeconomic factors like tariffs, inflation, interest rates, taxes, and labor costs continue to be monitored for their potential impact on business operations[107] - No material changes to critical accounting policies were reported compared to the previous Annual Report on Form 10-K[110] Results of Operations This section provides a detailed analysis of the company's financial performance, comparing revenues and expenses for the current and prior periods, and explaining significant variances Revenue and Operating Expenses (Three Months Ended June 30, in thousands) | Metric | 2025 | 2024 | % of Total Revenue 2025 | % of Total Revenue 2024 | | :-------------------------------- | :------------ | :------------ | :---------------------- | :---------------------- | | Total revenue | $761,469 | $667,761 | 100.0% | 100.0% | | Center operations | $403,925 | $355,510 | 53.0% | 53.2% | | Rent | $83,190 | $74,947 | 10.9% | 11.2% | | General, administrative and marketing | $61,674 | $53,246 | 8.1% | 8.0% | | Depreciation and amortization | $72,988 | $69,714 | 9.6% | 10.4% | | Other operating expense | $31,243 | $9,588 | 4.1% | 1.5% | | Income from operations | $108,449 | $104,756 | 14.3% | 15.7% | | Net income | $72,102 | $52,805 | 9.5% | 7.9% | - Total revenue increased by $93.7 million (14.0%) for the three months and $203.0 million (16.1%) for the six months ended June 30, 2025, driven by higher membership dues and in-center revenue, particularly Dynamic Personal Training[112][114][125][127] - Interest expense, net, decreased by $15.9 million for the three months and $28.2 million for the six months ended June 30, 2025, primarily due to lower outstanding borrowings and the impact of interest rate swaps[120][133] - Other operating expense increased significantly due to a $12.5 million net loss on a sale-leaseback transaction in 2025, contrasting with gains in the prior year[119][132] - Other income increased by $12.9 million for both periods due to employee retention credits under the CARES Act[121][134] Liquidity and Capital Resources This section assesses the company's ability to meet its short-term and long-term financial obligations, detailing cash flows, available credit, and capital expenditure plans - Principal liquidity needs include new center acquisition/development, lease requirements, debt service, and investments in business/technology[137] - As of June 30, 2025, the company had $175.5 million in cash and cash equivalents and $618.5 million available under its Revolving Credit Facility, totaling $794.0 million in liquidity[140] - Net cash provided by operating activities increased by $118.7 million for the six months ended June 30, 2025, driven by improved business performance[142] Capital Expenditures by Type (Six Months Ended June 30, in thousands) | Type of Expenditure | 2025 | 2024 | | :-------------------------------- | :------------ | :------------ | | Growth capital expenditures | $260,460 | $213,469 | | Maintenance capital expenditures | $65,352 | $48,436 | | Modernization and technology capital expenditures | $38,674 | $39,202 | | Total capital expenditures | $364,486 | $301,107 | - Net cash provided by financing activities increased by $106.4 million for the six months ended June 30, 2025, primarily due to lower debt repayments and higher proceeds from stock option exercises[148] ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK This section outlines the company's exposure to market risks, specifically interest rate risk and foreign currency exchange risk, detailing how the company manages its variable rate debt through interest rate swaps and assesses the potential impact of interest rate changes on its financial performance - The company is exposed to interest rate risk on its variable rate debt, primarily the Revolving Credit Facility and Term Loan Facility[150][152][153] - Interest rate swaps effectively convert the Term Loan Facility's variable rate to a fixed rate of 3.409% plus an applicable margin, which was 2.25% at June 30, 2025[153] - A one percentage point change in interest rates would result in an approximately $6.5 million change in annual interest expense if the Revolving Credit Facility were fully drawn[154] - Foreign currency exchange risk is not considered material due to limited operations outside the United States (three centers in Canada)[155] ITEM 4. CONTROLS AND PROCEDURES Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective at a reasonable assurance level as of June 30, 2025, with no material changes in internal control over financial reporting identified during the quarter - Disclosure controls and procedures were evaluated and deemed effective at a reasonable assurance level as of June 30, 2025[156] - No material changes in internal control over financial reporting occurred during the quarter[157] PART II. OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS The company is involved in ongoing litigation, including an appeal against Zurich American Insurance Company regarding business interruption and Builders' Risk policies, though management believes the outcome will not materially impact the company's financial position - The company is appealing a judgment dismissing its claims against Zurich American Insurance Company related to COVID-19 business interruption and Builders' Risk policies[72][158] - Management assesses that the outcome of current legal actions and claims will not have a material adverse impact on the consolidated financial position, results of operations, or cash flows[73][75] ITEM 1A. RISK FACTORS There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2024 - No material changes to previously disclosed risk factors were identified in this quarterly report[159] ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS In April 2025, the company issued 1,355,516 shares of common stock as part of the acquisition of existing health club and racquet facilities, relying on a Section 4(2) exemption from registration - The company issued 1,355,516 shares of common stock in April 2025 for an asset acquisition, utilizing a Section 4(2) exemption from registration[160] ITEM 3. DEFAULTS UPON SENIOR SECURITIES There were no defaults upon senior securities reported during the period - No defaults upon senior securities were reported[161] ITEM 4. MINE SAFETY DISCLOSURES No mine safety disclosures were applicable or reported - No mine safety disclosures were applicable[162] ITEM 5. OTHER INFORMATION Executive Vice President and Chief Administrative Officer, Eric Buss, and Executive Vice President and Chief Digital Officer, Ritadhwaja Jebens (RJ) Singh, adopted Rule 10b5-1 trading plans in June 2025 for exercising stock options and selling shares - Eric Buss adopted a Rule 10b5-1 trading plan on June 13, 2025, for exercising vested stock options and selling up to 1,170,345 shares, terminating by December 1, 2025[163] - RJ Singh adopted a Rule 10b5-1 trading plan on June 13, 2025, for exercising vested stock options (up to 67,751 shares) and selling net shares from vesting restricted and performance stock units, terminating by September 11, 2026[164] ITEM 6. EXHIBITS This section lists all exhibits filed with the Form 10-Q, including certifications from the CEO and CFO, and Inline XBRL documents - The exhibits include certifications from the CEO and CFO (pursuant to Sections 302 and 906 of Sarbanes-Oxley Act) and various Inline XBRL documents[167] SIGNATURES - The report was signed on August 5, 2025, by Erik Weaver, Executive Vice President & Chief Financial Officer, on behalf of Life Time Group Holdings, Inc[171]