Irvine fitness franchising company Xponential Fitness Inc. (NYSE: XPOF) capped its second quarter with more studio openings and franchise licensing deals as the company continues its rapid expansion.
Xponential, which has a portfolio of nine fitness brands, counts more than 1,850 studios in North America. The company saw the opening of 59 locations in the second quarter with 197 franchise licenses sold during the same period.
The company reported systemwide sales of $171.6 million, which was up 179% from the year-ago period.
Xponential widened its loss in the quarter with a net loss of $8 million, compared to a net loss of $4.8 million in the year-ago period.
The company reported adjusted earnings before interest, taxes, depreciation and amortization of $8.3 million in the quarter. That compares to EBITDA of negative $3.1 million a year ago.
Xponential, which went public in July, said it expects to open 215 to 235 studios this year with systemwide sales of $690 million to $700 million.
Shares of Xponential were up about 1% in after-hours trading Tuesday to $11.95 for a market cap of $552.4 million.
