Xponential Fitness raises FY23 revenue guidance to $305M-$310M, consensus $304M

Xponential is increasing its full year 2023 guidance for revenue and tightening the top end ranges for new studio openings, system-wide sales and Adjusted EBITDA as follows: New studio openings in the range of 550 to 560, or an increase of 9% at the midpoint as compared to full year 2022; this compares to previous guidance of 540 to 560; North America system-wide sales in the range of $1.390B to $1.395B, or an increase of 35% at the midpoint as compared to full year 2022; this compares to previous guidance of $1.385B to $1.395B; Revenue in the range of $305.0M to $310.0M, or an increase of 26% at the midpoint as compared to full year 2022; this compares to previous guidance of $295.0M to $305.0M; and Adjusted EBITDA in the range of $104.5M to $106.5M, or an increase of 42% at the midpoint as compared to full year 2022; this compares to previous guidance of $102.5M to $106.5M.