Xponential Fitness, Inc. Class A (XPOF)

In the past six months, the SEC concluded its investigation into Xponential Fitness without enforcement action. The company reported an expansion in its Q3 2025 Adjusted EBITDA margin to 42% and North America quarterly run-rate AUV increased by 2% year-over-year to $668,000. The full-year 2025 guidance projected total revenue between $315 million and $325 million. The company's share price experienced a significant decline, trading at $8.21 per share as of January 6, 2026. Mike Nuzzo was appointed as Chief Executive Officer in August 2025 and Gavin M. O'Connor as Chief Legal Counsel and Administrative Officer in November 2025.

The fitness industry experiences demand seasonality, with a surge in new memberships in January and March/April. Demand often dips during the summer and holiday months. Recent data suggests a potential shift, with strong attendance in the fall, and September and March rivaling January as the busiest times of the year.

Xponential Fitness, Inc. is a global franchisor in the boutique health and wellness sector, operating as a pure-play franchisor. Revenue is generated through royalty fees, initial franchise fees, and the sale of equipment and branded merchandise. The company focuses on a diversified portfolio of five to six core brands, including Club Pilates, Pure Barre, StretchLab, YogaSix, and BFT, following strategic divestitures.

Xponential Fitness has a significant global presence, with franchises in 49 U.S. states and 30 to 31 additional countries, totaling over 3,000 studios worldwide. Recent international expansions include deals in Qatar, Hong Kong, Malaysia, Scotland, Spain, Mexico and Japan.

In the past year, Xponential Fitness's brand reputation has been influenced by several key events. The company reported a net loss of US$98.7 million for the full year and restated its 2023 financial position. The resignation of CEO Anthony Geisler negatively impacted the company's reputation. The SEC concluded its investigation into Xponential Fitness without any enforcement action. Earlier reports from June and December 2023 by Fuzzy Panda Research and Bloomberg, respectively, had alleged that Xponential misled franchisees and misstated financial metrics, leading to securities fraud class action lawsuits filed in February 2024 and derivative lawsuits in March and May 2024.

Xponential Fitness, Inc. is a publicly traded company on the NYSE (XPOF). Mark Grabowski holds a controlling interest of 81.72% of the company's shares. Institutional investors collectively hold a substantial portion of the company's shares. Major institutional shareholders include BlackRock, Inc., The Vanguard Group Inc., MSD Partners, L.P., D. E. Shaw & Co., Inc., Ameriprise Financial Inc, Nomura Holdings Inc, Marshall Wace, Llp, and Voss Capital, LLC. Anthony Geisler holds 16.69% of the shares.