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Wednesday, Jun 29, 2022

Xponential Gets Physical, Online

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Irvine-based Xponential Fitness Inc., the world’s largest franchiser of boutique fitness brands, is strengthening its virtual muscles.

Xponential (NYSE: XPOF) last month launched its newest digital platform, dubbed Xponential+, or XPLUS. The fitness franchiser has created an online space where users can log in and find both live and on-demand workout classes from a computer, phone, or tablet.

It replaces the previous digital offering known as GO, which offered services for each brand separately rather than full access to the entire brand portfolio.

Over 3,000 different workouts are available, and users can stream more than 60 classes every week.

Classes are available from Club Pilates, Pure Barre, CycleBar, StretchLab, YogaSix, Row House, AKT, Stride, and Rumble. Online workouts for BFT, Xponential’s newest brand acquired last October, will be added to the platform later this year.

XPLUS launched across 175 countries at $29.99 per month. It will operate separately from Xponential’s mobile app where customers can book classes, find studio locations, and utilize the XPASS membership program.

“Consolidating all of our brands’ digital offerings into one app will provide our customers with unprecedented optionality and a way to cross-train with the leaders in their favorite fitness formats,” President Garret Marshall said in a statement.

Online Moves

This digital offering’s debut is a step towards making Xponential the most accessible fitness provider, the company said. Having opened 555 new studios from April 2020 to last December, the franchiser’s growth strategy features physical and online moves.

The franchiser operates nearly 2,000 studios total in North America. Xponential forecasts it will open 500 to 520 new studio openings this year.

It also expects the October acquisition of Melbourne-based BFT to add another 1,000 studio opportunities in Australia.

The company signed an agreement with Irvine-based Fitness International LLC last November to open Xponential brand studios inside more than 500 LA Fitness and City Sports Club locations.

Xponential announced last month a collaboration with Vancouver’s Lululemon Athletica Inc. (Nasdaq: LULU) to provide workouts from four of its brands for the activewear retailer’s own digital home gym titled Mirror. The classes will premiere on the latest edition of the Mirror program launching this fall.

The company expects these shared brand workouts to strengthen its own omni channel offering of on-demand and live classes, according to officials.

The fitness franchiser on March 3 reported 2021 revenue rose 45% to $155.1 million. Adjusted EBITDA rose almost threefold to $27.3 million. Shares have more than doubled since going public last July and reached an all-time high of $26 late last March.

The company forecasts 2022 sales will climb to $201 million to $211 million, which implies a midpoint growth of 33%. Since that March 7 forecast, shares have climbed to around $21 and a $1 billion market cap.

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