Core Insights - The company achieved 12% revenue growth and 13% adjusted EBITDA growth in 2025, driven by a record 181 new club openings and 1.1 million net new members [1] - The brand successfully transitioned to a higher classic card membership price point while maintaining a unique value proposition, resulting in a 10% increase in net new members over the prior year [1] - The brand promise was redefined to focus on younger demographics, with the High School Summer Pass reaching 3.7 million teens and achieving an 8.3% conversion rate to paying members [1] Strategic Initiatives - The company optimized club formats to meet evolving member needs, with 95% of new or remodeled clubs in 2025 adopting layouts that emphasize strength equipment and recovery amenities [1] - Marketing spend was centralized by shifting franchisee contributions to the National Ad Fund to accelerate high-impact technology projects, including AI-enabled CRM and predictive churn models [1] - The brand positioned itself to capitalize on the GLP-1 trend by emphasizing strength training to combat muscle loss, supported by a successful pilot partnership with the healthcare platform Ro [1] Expansion and Growth - The company expanded its international footprint to over 200 clubs and 1 million members, with a strategic focus on converting corporate markets like Spain to franchise models for faster scaling [1]