Irvine-based Xponential Fitness Inc. (NYSE: XPOF) reported second-quarter total revenue of $60 million, a 66% jump from a year ago beating analysts’ average estimate of $50 million.
Company officials attributed the global growth to “increasing equipment installations and royalties generated from strong North American system-wide sales” that grew 45% to $250 million.
“For the remainder of the year, we expect the strong growth in the business to continue,” Chief Executive Anthony Geisler said in a statement.
The company boosted its 2022 revenue forecast to $211 million to $221 million, up from a prior prediction of $201 million to $211 million; analysts expect $213.8 million, or about a 38% growth.
The fitness franchisor expects to open 500 to 520 new studios this year across its portfolio.
Shares of Xponential rose 1.3% in after-hours trading to $16.29 with a market cap of $795 million. Brands under the Xponential umbrella include Rumble, StretchLab, Club Pilates and CycleBar.
