Reports Q3 revenue $29.3M, consensus $25.19M. "During the third quarter, we delivered total revenue of $29.3 million and Adjusted EBITDA of $6.1 million. In addition, we had 84 Net Initial Studio Openings for the quarter, bringing our global Total Studio count to 2,042. I am pleased with the performance of our studios, which generated same store sales growth of 16% as well as record system-wide sales of $130.6 million, representing year-over-year growth of 31%," said Ben Coates, interim CEO of F45. He continued, "Last quarter, we announced several key organizational changes and a cost reduction plan designed to position the Company more closely with macroeconomic conditions and current business trends. I am pleased to share that these changes were implemented during the third quarter and are beginning to demonstrate positive results."
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