Planet Fitness Earnings Call Transcripts
Fiscal Year 2026
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Strategic focus is on redefining the brand, optimizing club layouts, and expanding both domestically and internationally. Marketing and pricing strategies are being adjusted to boost member growth and retention, while operational changes aim to improve franchisee economics and support long-term expansion.
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Q1 saw 700,000+ net new members, 22% revenue growth, and 19.5% higher adjusted EBITDA, but member growth lagged expectations due to marketing missteps and external headwinds. 2026 guidance was cut, with a pause on Black Card price hikes to prioritize member growth.
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The meeting confirmed a quorum and approved all proposals, including director elections, auditor ratification, and executive compensation. No questions were raised during the Q&A, and final voting results will be published in a Form 8-K.
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Momentum in 2025 was driven by leadership additions, strategic marketing, and club format optimization, resulting in 20.8 million members and 181 new openings. Franchisee sentiment remains strong, international expansion is progressing, and pricing strategies are supported by robust member growth and engagement.
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 strong growth with 20.6M members, 6.1% same club sales growth, and 11.5% revenue increase. Black Card penetration hit 65%, and guidance for 2025 was reiterated despite macro and tariff concerns. Cash position and share repurchases remained robust.
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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 a 7.2% rise in adjusted EBITDA. Guidance for 2024 was reiterated, with 140–150 new stores expected and continued focus on member experience, pricing initiatives, and international expansion.