Core Insights - Life Time Foundation has announced the "Move for a Life Time" event, a nationwide workout fundraising initiative aimed at supporting children's health, building on the success of the previous "Ride of a Life Time" events which raised over $4 million for children's health [1] Fundraising Event Details - The event is scheduled for March 7 and will take place at more than 165 Life Time athletic clubs across the U.S. and Canada, with a fundraising goal of $1.5 million [1] - Participants can engage in various workout formats, including yoga, strength training, dance, and specialty classes, with sessions lasting from 90 minutes to three hours [1] - Registration is open to both Life Time members and nonmembers, encouraging personal fundraising goals and community involvement [1] Organizational Impact - Funds raised will benefit both the Children's Miracle Network, which supports 170 children's hospitals, and the Life Time Foundation, which focuses on improving children's health through nutrition and physical activity initiatives [1] - The Life Time Foundation aims to inspire healthy lifestyles and support sustainable community practices through its programs [1] Historical Context - The "Move for a Life Time" event expands on the original vision of a single-day fundraiser initiated in 2021, which has evolved into a significant annual tradition engaging tens of thousands of participants [1]

Group 1 - ICG Enterprise Trust ("ICGT") has realized its investment in David Lloyd, achieving a 28% IRR since the initial investment in 2013 alongside TDR Capital [1] - The sale was executed in line with the last reported NAV, resulting in cash proceeds of £20 million [1] - David Lloyd, an operator of premium health clubs, represented 1.4% of ICGT's portfolio as of 31 July 2025, making it the tenth largest company exposure [1] Group 2 - As of 31 July 2025, ICGT reported Total Available Liquidity of £187 million and a gearing ratio of 5% [2] - Pro forma for the recent announcements, ICGT's Total Available Liquidity would increase to £243 million, with a reduced gearing ratio of 1% [2] - The gearing ratio is defined as net debt/NAV [2] Group 3 - ICG Enterprise Trust is a leading listed private equity investor focused on long-term compounding growth through selective investments in profitable, cash-generative private companies, primarily in Europe and the US [3] - The company invests directly in companies as well as through funds managed by ICG and other leading managers, emphasizing long-term value and sustainable growth [4] - ICGT has a strong track record of delivering returns through a flexible mandate and a selective approach that balances concentration and diversification, risk and reward [4]

Core Points - Life Time announced the return of GO90, a fundraiser workout benefiting Augie's Quest to Cure ALS and the Life Time Foundation, scheduled for October 25 [1][2] - The event features a 90-minute workout challenge and a post-event social for a $25 donation, with 100% of funds raised split equally between the two organizations [2][4] - In its 2024 debut, GO90 raised $253,000 for ALS research and children's health initiatives [2] Company Overview - Life Time operates 185 athletic country clubs across the U.S. and Canada, promoting healthy living and aging through various programs and events [5][6] - The Life Time Foundation, established in 2011, focuses on youth nutrition, physical movement programs, and environmental conservation [4][6] - Augie's Quest to Cure ALS, founded in 2005, aims to support ALS research and enhance patient care, particularly for military personnel and athletes [4][6]

Core Insights - Life Time announced the return of its 30 Strong Challenge, a 30-day wellness program designed to help members establish healthy habits as seasons change [1][2] - The inaugural year saw over 50,000 participants, leading to the addition of a new daily habit for this year's challenge [3] - The program includes eight daily habits aimed at promoting overall health and well-being [3][4] Program Details - Registration for the 30 Strong Challenge is open, with the program running from October 6 to November 4 [2] - Participants will receive a complimentary 50-minute functional training session and a Get Started Guide with tips and strategies [4] - The eight daily habits include spending time in nature, daily workouts, protein intake, hydration goals, self-care, eliminating alcohol, and ensuring adequate sleep [4] Technology and Support - Life Time's app features L•AI•C, an AI-powered health companion providing guidance on fitness, nutrition, and recovery [5] - The app also offers access to a variety of on-demand and livestream classes led by top instructors [5] Company Overview - Life Time operates 185 athletic country clubs across the U.S. and Canada, focusing on healthy living and aging [7] - The company is recognized for its exceptional workplace culture and commitment to its 49,000 team members [7]

Core Insights - The 2026 Life Time Miami Marathon & Half has sold out 18,500 spots two weeks earlier than the previous record, indicating strong demand for the event [1][3] - Registration for the Life Time Tropical 5K is now open, providing a warm-up opportunity for marathon participants [2][5] - The event showcases a USTAF-certified, Boston-qualifying course, attracting participants from 50 states and over 70 countries [3][5] Company Overview - Life Time (NYSE: LTH) operates 185 athletic country clubs across the U.S. and Canada, focusing on promoting healthy lifestyles [7] - The company has a comprehensive Life Time app and organizes nearly 30 iconic athletic events, reinforcing its position in the health and wellness industry [7] - Life Time has been recognized as a Great Place to Work®, highlighting its commitment to workplace culture for over 49,000 employees [7] Economic Impact and Community Involvement - The 2025 event generated a local economic impact of $16.1 million, demonstrating the financial benefits of the marathon to the Miami area [5] - Over 100 charities partner with the Life Time Miami Marathon, contributing to significant fundraising efforts each year [5] - The Kids Run Miami program engages over 1,000 students, promoting youth participation in fitness activities leading up to the marathon [5]

Financial Data and Key Metrics Changes - Total revenue increased by 14% to $761 million, driven by a 14% increase in membership dues and enrollment fees, and a 14.4% increase in in-center revenue [4] - Net income for the quarter was $72.1 million, an increase of 36.5%, including approximately $9 million of tax-effective losses on sale leaseback [5] - Adjusted net income, excluding gains and losses on sale leasebacks, was $84.1 million, up 60.5% year over year [6] - Adjusted EBITDA rose to $211 million, an increase of 21.6%, with an adjusted EBITDA margin improvement of 170 basis points to 27.7% [6] - Free cash flow was $112 million for the second quarter, marking the fifth consecutive quarter of positive free cash flow [6] Business Line Data and Key Metrics Changes - Memberships increased to over 849,000, with total memberships reaching approximately 899,000, including on-hold memberships [5] - Average monthly dues grew by 10.6% year over year to $219, while average revenue per center membership increased by 11.8% to $888 [5] Market Data and Key Metrics Changes - Lifetime Digital accounts reached 2.3 million, up 216% year over year [9] - The nutritional supplement line revenue grew by 31% compared to the prior year quarter [10] Company Strategy and Development Direction - The company is accelerating the development of new club openings, targeting 12 to 14 openings in 2026, with an average size of nearly 100,000 square feet [9] - The focus is on growth, with plans to capitalize on high-margin expansion opportunities and maintain positive free cash flow [10] - The company aims to strengthen its balance sheet and has achieved a BB credit rating, allowing for lower interest costs and increased earnings [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong performance and record retention levels, with visits per membership up 5.7% year over year [7] - The company is cautious about macroeconomic conditions but believes it can thrive in both strong and challenging environments [20] - Management indicated that membership growth is expected to follow normal seasonality, with no signs of weakness observed [32] Other Important Information - The company closed on a sale leaseback of three properties, generating net proceeds of approximately $149 million [7] - The sale leaseback market remains open and attractive, with expectations to close another $100 million in transactions in the second half of the year [8] Q&A Session Summary Question: How did new membership sign-ups track through the quarter? - Management noted that membership sign-ups were slightly slower in the first half of the quarter but finished strong, making up for the initial slowdown [17] Question: Any further commentary on monetizing membership? - Management stated that revenue per membership increased nearly 12%, indicating effective monetization strategies [22] Question: Clarification on unit guidance and timing shifts? - Management explained that the unit guidance was narrowed due to construction timelines and a focus on financial stability, with a target of 12 to 14 openings in the next year [28] Question: Expectations for membership in the back half of the year? - Management expects typical seasonality in Q3, with no signs of weakness, and noted that the first part of the current quarter is following strong trends [32][33] Question: How does the waitlist affect member growth? - Management clarified that waitlists are a tool for managing member experience and should not be considered a KPI [50][51] Question: Insights on average revenue per membership growth? - Management indicated that there are no signs of fatigue among demographics, and they are not seeing weakness in any part of the business [58] Question: Trends in in-center revenue and initiatives? - Management highlighted growth in the nutritional supplement line and the success of new initiatives like Lacey, the AI-powered health companion [66][68]

Core Insights - Life Time Group Holdings, Inc. reported strong financial results for the fiscal first quarter ended March 31, 2025, with total revenue reaching $706.0 million, an increase of 18.3% compared to the prior year quarter [3][6][7] - The company experienced significant growth in net income, which increased by 205.6% to $76.1 million, and adjusted net income rose by 188.9% to $88.1 million [3][6][13] - Life Time's balance sheet remains robust, with a net debt leverage ratio improved to 2.0 times, down from 3.6 times a year earlier, and total available liquidity of $678.2 million [14][6] Financial Performance - Total revenue for the first quarter of 2025 was $706.0 million, up from $596.7 million in the same quarter of 2024, driven by increased membership dues and in-center revenue [3][6][7] - Net income surged to $76.1 million from $24.9 million year-over-year, while adjusted EBITDA increased by 31.2% to $191.6 million [3][6][13] - Average center revenue per center membership rose by 13.3% to $844, reflecting higher member engagement and utilization [3][7] Membership and Engagement - Center memberships increased by 3.0% year-over-year, totaling 826,374 as of March 31, 2025, with total subscriptions, including on-hold memberships, rising by 3.1% to 879,751 [3][7][32] - The company reported higher visits per membership, indicating strong member engagement and satisfaction [7][2] Capital Expenditures and Growth Initiatives - Capital expenditures for the first quarter totaled $142.5 million, a decrease of 9.1% from the previous year, with growth capital expenditures at $93.5 million [10][13] - Life Time opened one new center during the quarter, bringing the total to 180 centers, and plans to remodel three recently acquired properties [13][6] 2025 Outlook - The company raised its full-year 2025 guidance, projecting revenue between $2,940 million and $2,980 million, representing a 12.9% increase from the previous year [15][17] - Adjusted EBITDA is expected to grow significantly, driven primarily by dues revenue growth and expanded operating leverage [17][15]