North American System-Wide Sales Increase
North American system-wide sales reached $474 million, up 12% year-over-year.
Membership Growth
Total members reached 863,000 at the end of the quarter, representing an 8% year-over-year increase.
Franchise Revenue Growth
Franchise revenue for the quarter was $45.4 million, up 5% year-over-year.
Adjusted EBITDA Improvement
Adjusted EBITDA was $28.1 million in the second quarter, a 14% increase compared to $24.7 million in the prior year period.
Significant Marketing Investments
Over $20 million to be spent on marketing in Q3 and Q4 to support brand awareness and growth, particularly for Club Pilates.
Fit Commerce Partnership
A new retail partnership with Fit Commerce aims to improve retail margins and includes a $50 million minimum guaranteed royalty over 5 years.