Financial PerformanceQ2 revenue and adjusted EBITDA missed consensus by -8.5% and -24%, respectively, and XPOF unexpectedly lowered full-year operating targets citing retail softness, business disruptions, and general conservatism.
Financial VisibilityThe magnitude of the annual guidance adjustment (adjusted EBITDA lowered -12%) and potential to further refine annual growth targets restrict near-term financial visibility.
Studio ClosuresThe studio closure rate remained higher than desirable, with -49 studios closed during Q3, though this is expected to trend lower in the future.