← Xponential Fitness, Inc.

Annual Trend FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Depreciation and amortization $6.4m $7.7m $10.2m $15.3m $16.9m $17.7m $12.0m
Amortization and write off of debt issuance costs $526k $3.1m $5.7m $126k $463k $238k $168k
Amortization and write off of discount on long-term debt — $0 $2.7m $613k $2.9m $4.1m $7.7m
Impairment of goodwill and other noncurrent assets — — $781k $3.7m $16.7m $62.6m $32.7m
Gain on divestitures — — — — $0 — ($5.0m)
Loss on extinguishment of debt — $0 ($3.7m) $0 $0 $0 $27.3m
Operating lease liabilities — $0 $0 ($2.5m) ($9.0m) ($3.4m) ($3.8m)
Net loss ($37.1m) ($13.6m) ($51.4m) $2.9m ($1.7m) ($98.7m) ($53.7m)
Change in contingent consideration from acquisitions $7.9m ($11.0m) $25.6m $2.4m ($18.9m) $8.4m ($6.9m)
Non-cash lease expense — — — $2.7m $13.3m $7.1m $4.1m
Change in tax receivable agreement liability — — — — $3.2m $998k ($11k)
Bad debt expense $1.5m $2.8m $410k ($712k) $2.2m $3.1m $2.8m
Equity-based compensation $2.1m $1.8m $9.7m $29.0m $18.0m $15.5m $12.9m
Non-cash interest $2.8m $1.3m $583k ($1.1m) ($1.3m) ($1.3m) ($2.0m)
Gain on disposal of assets and lease terminations — — — — ($2.1m) ($12.8m) ($6.9m)
Accounts receivable ($6.6m) $3.0m ($6.6m) ($12.7m) ($7.7m) ($3.9m) $4.5m
Inventories ($296k) ($1.4m) ($768k) ($3.9m) ($3.5m) $5.6m $7.8m
Prepaid expenses and other current assets ($1.6m) ($2.9m) ($4.2m) ($1.0m) $438k $601k ($11.9m)
Deferred costs ($18.5m) ($1.2m) ($7.1m) ($2.0m) ($5.4m) $8.9m $11.3m
Notes receivable, net ($579k) $210k $137k $33k ($3k) $5k $3k
Accounts payable $6.5m $1.7m ($3.0m) $469k $1.4m $8.6m ($141k)
Accrued expenses $936k $1.9m $3.6m ($5.0m) $2.0m $12.9m $19.8m
Related party payable ($68k) ($28k) ($1k) $0 $0 — —
Other current liabilities $401k ($955k) $1.4m $2.2m $2.9m $4.2m ($370k)
Deferred revenue $35.1m $7.0m $30.0m $18.2m $7.3m ($19.5m) ($31.7m)
Other assets ($50k) ($196k) $1k ($240k) ($648k) ($3.5m) $834k
Other liabilities $1.4m $113k ($85k) $3.3m $1.7m ($4.7m) $6.8m
Purchases of property and equipment ($7.2m) ($1.9m) ($3.6m) ($9.0m) ($7.4m) ($4.7m) ($3.6m)
Proceeds from sale of assets $2.0m $58k $433k $65k $60k $346k $0
Purchase of studios ($532k) ($1.1m) ($450k) $0 ($164k) $0 $0
Purchase of intangible assets ($281k) ($1.0m) ($1.2m) ($7.2m) ($1.8m) ($1.8m) ($1.6m)
Notes receivable issued ($3.0m) ($619k) ($2.3m) ($1.8m) ($581k) $0 ($173k)
Notes receivable payments received — $0 $820k $3.2m $776k $533k $178k
Proceeds from disposition of brands — — — — $0 $0 $6.7m
Acquisition of business ($750k) ($1.1m) ($44.3m) $0 ($3.5m) ($8.5m) $0
Payments of costs related to IPO — $0 ($3.1m) $0 $0 — —
Payments to purchase 750,000 LLC units/Class B Shares — $0 ($9.0m) $0 $0 — —
Proceeds from issuance of redeemable convertible preferred stock, net of offering costs — $0 $198.4m $0 $0 — —
Payment to purchase all of the shares of LCAT from LCAT shareholders — $0 ($144.5m) $0 $0 — —
Payment of H&W Cash Merger Consideration — $0 ($11.7m) $0 $0 — —
Payments to acquire the Preferred Units and LLC Units — $0 ($20.5m) $0 $0 — —
Exchange of LLC units for Class B shares — $0 $2k $0 $0 — —
Payment of promissory note liability — — — $0 $0 ($3.5m) ($3.4m)
Payments of contingent consideration ($1.7m) ($3.2m) ($12.2m) ($2.2m) ($1.4m) $0 ($500k)
Payments for taxes related to net share settlement of restricted share units — $0 $0 ($1.9m) ($8.1m) ($83k) ($3.0m)
Payments for tax receivable agreement — — $0 $0 ($1.2m) ($2.3m) $0
Payments for redemption of preferred stock — — $0 $0 ($130.8m) $0 $0
Payments for distributions to Pre-IPO LLC Members — — $0 $0 ($12.9m) ($8.9m) ($477k)
Payment received from shareholder (Note 9) — — $0 $0 $8.1m $14k $2.4m
Payments for excise tax on share repurchases — — — $0 $0 ($359k) $0
Payments for redemption of preferred shares — — — — $0 $0 ($128.5m)
Loan to shareholder (Note 9) — $0 $0 ($5.0m) ($4.4m) $0 ($249k)
Proceeds from disgorgement of stockholders short-swing profits (Note 9) — — $0 $0 $516k $0 $0
Capital expenditures accrued at period end $1.2m $196k $595k $1.4m $1.0m $799k $344k
Contingent consideration converted to Member contribution (Note 10) — $5.6m $0 $0 — — —
Contingent consideration converted to equity (Note 11) — $0 $0 $29.1m $0 $0 —
Parent contribution of Rumble assets — $0 $20.5m $0 $0 — —
Original contingent consideration related to Rumble — $0 $23.1m $0 $0 — —
Rumble note receivable from shareholder — $0 $10.6m $0 $0 — —
Collateralization of note from shareholder with treasury shares (Note 11) — $0 $0 $1.7m $0 $0 —
Adjustment of convertible preferred stock to redemption value — $0 $78.5m $31.2m ($50.0m) $0 $0
Fair value of promissory note entered into in connection with acquisition (Note 3) — — $0 $0 $6.5m $0 $0
Liability-classified restricted stock units vested — — $0 $0 $2.2m $0 $0
Accrued tax withholding related to convertible preferred stock dividend — — $0 $0 $112k $0 $0
Deferred offering costs reclassified into equity — $0 $4.4m $0 $0 — —
Accrued deemed dividend — $0 $3.2m $0 $0 — —
Intangible asset acquired in exchange for deferred revenue — $0 $0 $4.8m $0 $0 —
Receivable from shareholder arising from the Rumble studios acquisition — — $0 $0 $1.4m $0 $0
Excise tax liability accrued — — $0 $0 $360k $0 $0
Preferred stock dividend accrued — — $0 $0 $448k $0 $0
Contingent consideration upon acquisition — — — $0 $0 $446k $0
Original issue discount — — — — $0 $0 $18.8m
Non-cash proceeds from sale of asset — — — $0 $0 $275k $0
Net cash provided by operating activities $1.5m ($728k) $14.5m $51.7m $35.4m $11.7m $28.3m
Fair value of promissory note entered into in connection with divestiture (Note 3) — — — — $0 $0 $4.3m
Net cash provided by (used in) investing activities ($9.8m) ($4.6m) ($50.6m) ($14.6m) ($12.6m) ($14.1m) $1.5m
Borrowings from long-term debt, net of original discount issue $12.0m $188.7m $256.0m $7.4m $189.2m $63.0m $516.2m
Debt issuance costs ($205k) ($5.2m) ($996k) ($55k) ($411k) ($318k) ($1.7m)
Debt issuance costs paid-in-kind - long-term debt — — — $0 $0 $4.1m $0
Payments on long-term debt ($1.6m) ($149.2m) ($310.6m) ($3.0m) ($4.2m) ($43.9m) ($392.1m)
Proceeds from the issuance of Class A common stock, net of underwriting costs — $0 $122.0m $0 $0 — —
Proceeds from issuance of common stock in connection with stock-based compensation plans — — — $0 $0 $210k $193k
Repurchase of Class A common stock — — $0 $0 ($50.4m) $0 $0
Adjustment of redeemable noncontrolling interest — $0 $174.4m $0 $0 — —
Payment of preferred stock dividend — — — — ($7.1m) ($5.8m) ($5.7m)
Payment of preferred stock dividend and deemed cash dividend — — ($9.0m) ($16.2m) ($7.1m) ($5.8m) —
Deemed contribution (dividend) from redemption of convertible preferred stock — — $0 $0 $12.7m $0 ($11.7m)
Preferred stock dividend paid-in-kind — — — $0 $0 ($2.1m) $0
Net cash used in financing activities $6.4m $7.3m $46.2m ($21.0m) ($23.1m) ($1.9m) ($16.7m)
Increase (decrease) in cash, cash equivalents and restricted cash ($1.9m) $2.0m $10.0m $16.1m ($276k) ($4.4m) $13.1m
Cash, cash equivalents and restricted cash, beginning of period $9.3m $11.3m $21.3m $37.4m $37.1m $32.7m $45.9m
Interest paid $12.9m $17.0m $16.1m $11.6m $34.8m $41.3m $37.5m
Income taxes paid, net $174k $228k $1.4m $2.8m $1.6m $563k $206k

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.