Planet Fitness Earnings Call Transcripts
Fiscal Year 2026
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Momentum in 2025 drove record member growth, 181 new club openings, and strong comps. Strategic marketing, digital initiatives, and pricing actions supported expansion, while franchisee sentiment and international performance remain robust.
Fiscal Year 2025
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Membership reached 20.8 million with 181 new clubs opened in 2025, driving 12% revenue and 13% adjusted EBITDA growth. 2026 guidance calls for 4%-5% same-club sales growth, 180-190 new clubs, and 9%-10% EPS growth, with continued investment in technology and marketing.
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Management outlined a strategy focused on modernizing the member experience, expanding club formats, and leveraging data-driven marketing to accelerate growth. Financial guidance calls for low double-digit revenue growth and mid-teens EBITDA, with continued domestic and international expansion and a capital-light franchise model.
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Q3 delivered strong revenue and membership growth, prompting an upward revision of 2025 guidance. Strategic investments in marketing, club expansion, and digital initiatives are driving momentum, while attrition rates are moderating and franchisee economics remain robust.
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Q2 delivered double-digit revenue and adjusted EBITDA growth, with strong same club sales and record Black Card penetration. Guidance for 2025 is reiterated, with a focus on new club growth, margin expansion, and continued investment in member experience and franchisee economics.
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Q1 2025 saw 11.5% revenue growth, 6.1% same club sales growth, and record Black Card penetration at 65%. Guidance for 2025 is reiterated, with 160-170 new clubs and 5%-6% same club sales growth expected. Tariff and macro risks are being managed.
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Management outlined strategic imperatives focused on brand, member experience, and growth, supported by franchisee buy-in and operational improvements. 2024 is a foundational investment year, with club expansion, pricing initiatives, and international growth, while maintaining an asset-light model and steady share repurchases.
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Strategic focus is on accelerated growth, member experience, and format optimization, with strong 2024 results including 19.7 million members and 150 new club openings. Price increases have been well received, franchisee economics are improving, and international expansion is gaining momentum.
Fiscal Year 2024
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Q4 2024 saw 19.4% revenue growth, 5.5% same club sales growth, and 14.4% adjusted EBITDA growth, with 86 new clubs opened and membership up by 1 million. 2025 guidance targets 160-170 new clubs, 5%-6% same club sales growth, and ~10% revenue and EBITDA growth.
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Q3 saw 4.3% same-club sales growth, 5.3% revenue growth, and 10% higher Adjusted EBITDA, with membership at 19.6 million. 2024 guidance was raised for revenue, EBITDA, and EPS, driven by a Classic Card price increase, strong franchisee investment in strength equipment, and robust Black Card penetration.
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Q2 2024 saw 5.1% revenue growth, 4.2% same-store sales growth, and 7.2% adjusted EBITDA growth year-over-year, with 18 new stores opened. The company raised Classic Card prices, continued international expansion, and reiterated its 2024 outlook for robust growth and capital returns.