Shares of Xponential Fitness Inc. (NYSE: XPOF) rose 7.9% in late trading after reporting second-quarter results.
The chain of fitness studios said second-quarter revenue climbed 30% to $77.3 million, topping the $72 million expected on average by analysts. It also raised the 2023 sales forecast to $295 million to $305 million, up $5 million from its prior forecast. Analysts on average expect $300 million.
The company, which saw its shares fall 37% to $15.72 each on June 27 after a report from a short trader, also announced a $50 million share buyback program. Â After the release, the shares climbed to $22.25.
“The company continues to execute on our strategic growth drivers,” Chief Executive Anthony Geisler said in a statement.
