The downward revision to full-year guidance across revenue, EBITDA, and system-wide sales signals worsening core franchise health and a lack of near-term catalysts. Traders should watch for further deterioration in same-store sales trends and any liquidity stress given the $10M line-of-credit draw and negative operating cash flow.
Price Chart
Executive Summary
Xponential Fitness reported Q2 2026 revenue of $66.0M (-13% YoY) and a GAAP net loss of $4.8M, swinging from a $1.3M profit in Q2 2025. Same-store sales declined 6.8% (vs +2.4% a year ago). The company revised its full-year 2026 guidance downward across all key metrics: revenue cut to $250-260M (from $260-270M), Adjusted EBITDA to $91-97M (from $100-110M), and system-wide sales to $1.70-1.75B. The deteriorating core operating trends and lowered outlook are clearly bearish for the stock.
Key Financial Metrics
Key Facts
- Revenue of $66.0M decreased 13% YoY.
- North America same-store sales decreased 6.8%, compared to growth of 2.4% in Q2 2025.
- GAAP net loss of $4.8M vs net income of $1.3M in Q2 2025.
- Adjusted EBITDA fell 22% to $21.9M from $28.1M.
- Full-year 2026 guidance revised down: revenue to $250-260M (from $260-270M), Adjusted EBITDA to $91-97M (from $100-110M), system-wide sales to $1.70-1.75B (from $1.72-1.80B).
- Net cash used in operating activities was $25.7M for the quarter, vs $8.3M provided in the prior year period.
- Borrowed $10M on line of credit during the quarter.
Financial Impact
Revenue decline of 13% YoY and a $7M swing from net income to net loss; full-year guidance lowered by ~$10M at the midpoint for both revenue and Adjusted EBITDA.
Risk Factors
- Continued same-store sales decline could further pressure franchise revenue and system-wide sales.
- High debt load ($522.4M) combined with negative operating cash flow raises liquidity concerns.
- Execution risk on management's turnaround plan amid declining studio-level economics.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-338374 |
| Document: d328551d8k.htm | 0001193125-26-338374 |
| Document: 0001193125-26-338374-index-headers.html | 0001193125-26-338374 |
| Document: 0001193125-26-338374-index.html | 0001193125-26-338374 |
| Document: 0001193125-26-338374.txt | 0001193125-26-338374 |
| 8-K Data (Synthetic) | 0001193125-26-338374 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 6, 2026 8w ago | 8-K | $5.03 $4.91 | ▲ +2.39% | ▲ +1.99% | $4.70 (+6.56%) |
May 18, 2026 19w ago | 8-K | $4.57 $6.79 | ▲ +48.58% | ▲ +47.00% | $4.70 (+2.84%) |
May 14, 2026 20w ago | 8-K | $5.11 $6.47 | ▼ −26.61% | ▼ −27.47% | $4.70 (+8.02%) |
May 7, 2026 21w ago | 8-K | $5.60 $5.34 | ▲ +4.64% | ▲ +4.67% | $4.70 (+16.07%) |
Apr 8, 2026 25w ago | 3 | $7.35 $6.52 | ▼ −11.29% | ▼ −19.84% | $4.70 (−36.05%) |
US Market Status
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