Xponential Fitness, the leading franchisor of boutique health, wellness, and fitness brands, continues to solidify its position as a dominant force within the health and wellness industry. In its most recent earnings report for the full year 2023, the company posted impressive financial results, underscoring its ability to capitalize on the growing demand for specialized fitness, health, and wellness experiences.
Highlighting the company’s remarkable growth trajectory, Xponential reported a 30% increase in revenue for the full year 2023. This substantial increase was complemented by a 27% rise in fourth-quarter revenue.
Anthony Geisler, Xponential’s founder, and CEO, expressed confidence in the company’s ability to sustain its momentum, stating, “In 2023, we experienced substantial growth on both the top and bottom lines as members continued to demonstrate that they prioritize their health and wellness routines.” Geisler further emphasized the company’s streamlined operations and strong positioning, enabling it to leverage its capabilities effectively.
One of the key drivers behind Xponential’s success has been its unwavering commitment to supporting its franchisees in expanding the family of brands’ footprint across North America. In 2023, the company sold an impressive 805 franchise licenses and opened 557 new studios, averaging an astonishing one and a half new studio openings per day. This rapid expansion has translated into significant growth in the company’s system-wide sales, which increased by 36% to $1.40 billion in North America alone.
The company’s focus on providing diverse and engaging fitness and wellness experiences has resonated with consumers, as evidenced by the 21% year-over-year growth in its North American membership base, which reached 717,000 members by the end of 2023. Moreover, visitation rates soared by 31%, resulting in an impressive 51.5 million studio visits throughout the year.