Planet Fitness(US:PLNT)2025-11-07 21:09Membership and Club Growth - As of September 30, 2025, Planet Fitness had approximately 20.7 million members and 2,795 clubs across various countries, with 2,514 being franchised and 281 corporate-owned[115] - The company had contractual commitments to open more than 800 new clubs as of September 30, 2025[115] - The number of new franchisee-owned clubs opened in the three months ended September 30, 2025, was 29, compared to 12 in the same period of 2024[123] Financial Performance - Total revenue for the three months ended September 30, 2025, was $330.3 million, a 13.1% increase from $292.2 million in the same period of 2024[120] - Net income for the three months ended September 30, 2025, was $59,183,000, compared to $42,395,000 for the same period in 2024, representing a year-over-year increase of 39.7%[132] - Total revenue for the nine months ended September 30, 2025, was $947.9 million, an increase of $106.7 million, or 12.7%, compared to $841.2 million for the same period in 2024[158] Revenue Segmentation - Corporate-owned clubs segment revenue for the three months ended September 30, 2025, was $137.8 million, a 7.5% increase from $128.1 million in 2024[120] - Franchise segment revenue increased to $113.7 million, up $11.3 million, or 11.0%, from $102.4 million in the prior year[138] - Equipment segment revenue for the three months ended September 30, 2025, was $78.8 million, up 27.8% from $61.7 million in the same period of 2024[120] Adjusted Metrics - Adjusted EBITDA for the three months ended September 30, 2025, was $140.8 million, up 14.4% from $123.1 million in the same period of 2024[120] - Adjusted net income for the nine months ended September 30, 2025, reached $189,558,000, compared to $164,169,000 in 2024, indicating a year-over-year increase of 15.4%[134] - Adjusted net income per share, diluted, for the three months ended September 30, 2025, was $0.80, compared to $0.64 in 2024, marking a 25% increase[134] Tax and Interest Expenses - The company reported a provision for income taxes of $27,974,000 for the three months ended September 30, 2025, compared to $16,523,000 in 2024, which is an increase of 69.5%[134] - Total interest expense for the nine months ended September 30, 2025, was $78,720,000, compared to $72,569,000 in 2024, reflecting an increase of 8.4%[132] - Interest expense rose to $78.7 million, an increase of $6.2 million, or 8.5%, compared to $72.6 million for the same period in 2024[172] Cash Flow and Capital Expenditures - Net cash provided by operating activities for the nine months ended September 30, 2025, was $309.4 million, an increase from $294.7 million in 2024, driven by $159.6 million of net income and $177.8 million in adjustments[182][183] - Total capital expenditures for the nine months ended September 30, 2025, were $113.6 million, slightly up from $113.0 million in 2024, with new corporate-owned clubs accounting for $47.2 million[185] - Net cash used in financing activities increased to $169.6 million in 2025 from $101.5 million in 2024, an increase of $68.0 million, mainly due to a decrease in net cash provided by long-term debt[186] Compliance and Risk - As of September 30, 2025, the company was in compliance with its debt covenants, with no material changes to the terms of any debt obligations[189] - There were no significant changes to the company's market risk during the three months ended September 30, 2025[192]