Lindora operates 31 clinics offering the latest
innovations in weight loss medications, hormone replacement therapy
and IV hydration
Xponential Fitness, Inc. (NYSE: XPOF) (”Xponential” or “the
Company”), the largest global franchisor of health and wellness
brands, today announced that it has agreed to acquire Lindora, a
leading metabolic health brand. Under the terms of the transaction,
the 31 existing Lindora clinics will become Xponential franchise
locations. Xponential will acquire all of the intellectual property
of Lindora and plans to franchise the brand nationally and
globally. Given the strong cashflow of the existing Lindora
locations, the acquisition is anticipated to be immediately
accretive on both an AUV1 and an Adjusted EBITDA2 basis.
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“This acquisition further solidifies Xponential’s leadership in
identifying and incorporating the latest innovations in health and
wellness,” said Anthony Geisler, CEO of Xponential. “We have long
admired Lindora’s integrated approach to metabolic health,
effectively combining behavioral approaches with the most recent
medical breakthroughs, from weight loss medications to hormone
replacement therapy and IV hydration. Lindora complements our
existing brands and will help us deliver on consumers’ increasing
demand for a holistic approach to health. Lindora is led by a
veteran team, and we are looking forward to partnering with them to
address some of the most critical and widespread health challenges
facing the U.S. and beyond.”
Founded in 1971 in Southern California, Lindora is a leading
provider of medically guided wellness and metabolic health
solutions. For over 50 years, Lindora has helped tens of thousands
of people live healthier lives through its suite of services that
support metabolic health, including weight management programs that
incorporate nutrition, lifestyle, and the latest innovations in
weight loss medications; IV hydration; hormone replacement therapy;
and other services. The global weight loss and weight management
industry had a market size of over $224 billion in 2021 and is
expected to surpass $400 billion by 2030.3
“We are thrilled to join the Xponential family of brands,” said
Colleen Lewis, CEO of Lindora. “Xponential’s proven model growing
and scaling brands makes them the ideal partner as Lindora enters
its next phase of growth. This partnership will allow Lindora to
become one of the first national brands in medical metabolic
management, and we are energized to share what has been effective
in delivering outstanding outcomes for our valued clients with
people on a global scale.”
The transaction is expected to close in early 2024.
About Xponential Fitness, Inc.
Xponential Fitness, Inc. (NYSE: XPOF) is the largest global
franchisor of health and wellness brands. Through its mission to
make boutique fitness accessible to everyone, the Company operates
a diversified platform of ten brands spanning across verticals
including Pilates, indoor cycling, barre, stretching, rowing,
dancing, boxing, running, functional training and yoga. In
partnership with its franchisees, Xponential offers energetic,
accessible, and personalized workout experiences led by highly
qualified instructors in studio locations across 49 U.S. states and
Canada, and through master franchise or international expansion
agreements in 21 additional countries. Xponential’s portfolio of
brands includes Club Pilates, the largest Pilates brand in the
United States; CycleBar, the largest indoor cycling brand in the
United States; StretchLab, the largest assisted stretching brand in
the United States offering one-on-one and group stretching
services; Row House, the largest franchised indoor rowing brand in
the United States; AKT, a dance-based cardio workout combining
toning, interval and circuit training; YogaSix, the largest yoga
brand in the United States; Pure Barre, a total body workout that
uses the ballet barre to perform small isometric movements, and the
largest Barre brand in the United States; STRIDE Fitness, a
treadmill-based cardio and strength training concept; Rumble, a
boxing-inspired full-body workout; and BFT, a functional training
and strength-based program. For more information, please visit the
Company’s website at xponential.com.
About Lindora
Founded in 1971, Lindora is southern California’s leading weight
management and wellness practice, delivering a medically guided
approach to lasting weight loss and metabolic health. The
nationally recognized brand has taught hundreds of thousands of
people how to lose weight and learn healthier habits. Lindora
currently operates 30 locations in Southern California and one
location in Washington.
Forward-Looking Statements
This press release contains forward-looking statements that are
based on current expectations, estimates, forecasts and projections
of future performance based on management’s judgment, beliefs,
current trends, and anticipated financial performance. These
forward-looking statements include, without limitation, statements
relating to Xponential’s acquisition of the Lindora brand,
Xponential’s plan to franchise the Lindora system as part of its
franchise system network, the expected business and financial
benefits resulting from the acquisition and such franchising plans,
and current and future revenues in the weight loss and weight
management industry. Forward-looking statements involve risks and
uncertainties that may cause actual results to differ materially
from those contained in the forward-looking statements. These
factors include, but are not limited to, the impact pandemics on
our business and franchisees; difficulties and challenges in
opening studios by franchisees; the ability of franchisees to
generate sufficient revenues; risks relating to expansion into
international market; changes in the laws and regulations
generally; and loss or reputation and brand awareness; and other
risks as described in the filings of Xponential with the Securities
and Exchange Commission, including the Quarterly Report on Form
10-Q. Other unknown or unpredictable factors or underlying
assumptions subsequently proving to be incorrect could cause actual
results to differ materially from those in the forward-looking
statements. Although we believe that the expectations reflected in
the forward-looking statements are reasonable, we cannot guarantee
future results, level of activity, performance, or achievements.
You should not place undue reliance on these forward-looking
statements. All information provided in this press release is as of
today’s date, unless otherwise stated, and Xponential undertakes no
duty to update such information, except as required under
applicable law.
Footnotes
1 AUV is calculated by dividing sales during the applicable
period for all studios being measured by the number of studios
being measured. Quarterly run-rate AUV consists of average
quarterly sales activity for all North America traditional studio
locations that are at least 6 months old at the beginning of the
respective quarter, and that have non-zero sales in the period,
multiplied by four. Monthly run-rate AUV is calculated as the
monthly AUV multiplied by twelve, for studios that are at least 6
months old at the beginning of the respective month, operate in
traditional locations and have nonzero sales. AUV growth is
primarily driven by changes in same store sales and is also
influenced by new studio openings. Management reviews AUV to assess
studio economics.
2 We define Adjusted EBITDA as EBITDA (net income/loss before
interest, taxes, depreciation and amortization), adjusted for the
impact of certain non-cash and other items that we do not consider
in our evaluation of ongoing operating performance. These items
include equity-based compensation and related employer payroll
taxes, acquisition and transaction expenses (including change in
contingent consideration), litigation expenses (consisting of legal
and related fees for specific proceedings that arise outside of the
ordinary course of our business), employee retention credit (a tax
credit for retaining employees throughout the COVID-19 pandemic),
fees for financial transactions, such as secondary public offering
expenses for which we do not receive proceeds (including bonuses
paid to executives related to completion of such transactions),
expense related to the remeasurement of our TRA obligation, write
down of goodwill and brand assets, and restructuring and related
charges that we do not believe reflect our underlying business
performance and affect comparability. EBITDA and Adjusted EBITDA
are also frequently used by analysts, investors and other
interested parties to evaluate companies in our industry. We
believe that Adjusted EBITDA, viewed in addition to, and not in
lieu of, our reported GAAP results, provides useful information to
investors regarding our performance and overall results of
operations because it eliminates the impact of other items that we
believe reduce the comparability of our underlying core business
performance from period to period and is therefore useful to our
investors in comparing the core performance of our business from
period to period.
3 Facts and Factors (Feb. 2023). Weight Loss and Weight
Management Market Size, Share, Growth Analysis Report By Diet
(Meal, Supplement, and Beverage), By Service (Fitness Centers,
Consulting Services, Slimming Centers, and Online Programs), and By
Region – Global and Regional Industry Insights, Overview,
Comprehensive Analysis, Trends, Statistical Research, Market
Intelligence, Historical Data and Forecast 2022 -2030. (Report No.
FAF-2223).
https://www.fnfresearch.com/weight-loss-and-weight-management-market.
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version on businesswire.com: https://www.businesswire.com/news/home/20231203858060/en/
Media FGS Global Xponential@fgsglobal.com (212) 687-8080
Investor Relations ADDO investor@xponential.com (310)
829-5440
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