Record-Breaking Growth in Club Pilates
Club Pilates openings in 2023 and 2024 have shown record year 1 revenue ramps, exceeding the previous 3 vintages at month 12 by an average of 27%.
Successful Divestitures
The company successfully divested CycleBar, Rumble, and Lindora, resulting in a more streamlined brand portfolio and expected SG&A savings of about $6 million annually.
Strong System-Wide Sales Growth
North America system-wide sales were $432.2 million, up 10% year-over-year, driven primarily by growth from net new studio openings.
Improved Adjusted EBITDA
Adjusted EBITDA was $33.5 million in Q3, up 9% or $2.7 million compared to the prior year, with an adjusted EBITDA margin increase from 38% to 42%.