Xponential Fitness CEO ‘reiterated confidence’ in hitting high end of FY23 view

In a regulatory filing, Xponential Fitness noted that on September 25, Xponential Fitness Chief Executive Officer Anthony Geisler and Chief Financial Officer John Meloun participated in a fireside chat with analyst Randal Konik of Jefferies. “Among the matters, Mr. Geisler reiterated confidence in the company achieving the high end of its previously announced guidance for fiscal year 2023 consisting of revenue of $305M and adjusted EBITDA of $106.5M. The following was also noted: AUVs increased again in the third quarter of 2023. Same store sales are tracking at mid-teens YoY, or about 15%. System-wide sales are up approximately 30% in the third quarter of 2023 compared to the same period last year. August and September performance was strong. The company’s consumers remain healthy despite current macro-related headwinds, with foot traffic, utilization, and class demand remaining strong. The weekly data points the company tracks generally continue to suggest no trends of trade down in membership levels among new or existing members. Class demand has been very high and the company is generally not seeing increased cancellation trends,” the filing stated.