Xponential Fitness Inc
For the period ended Mar 31, 2024. Filed May 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 6, 2024
XPOF$4.59-3.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(4,356) | $(14,979) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Depreciation and amortization | 4,436 | 4,197 |
| Amortization and write off of debt issuance costs | 72 | 283 |
| Amortization and write off of discount on long-term debt | 1,325 | 609 |
| Change in contingent consideration from acquisitions | 4,087 | 15,742 |
| Non-cash lease expense | 2,205 | 1,212 |
| Bad debt expense (recovery) | (8) | (21) |
| Equity-based compensation | 3,942 | 6,056 |
| Non-cash interest | (318) | (478) |
| Gain on disposal of assets | (2,905) | — |
| Changes in assets and liabilities, net of effect of acquisition: | ||
| Accounts receivable | 524 | 3,230 |
| Inventories | (546) | (2,098) |
| Prepaid expenses and other current assets | 195 | (3,083) |
| Operating lease liabilities | (1,657) | (1,228) |
| Deferred costs | 283 | 138 |
| Notes receivable, net | 1 | 2 |
| Accounts payable | 4,782 | 2,794 |
| Accrued expenses | (2,320) | 433 |
| Other current liabilities | 2,389 | (1,800) |
| Deferred revenue | (6,003) | 624 |
| Other assets | 92 | (68) |
| Other liabilities | (3,525) | (214) |
| Net cash provided by operating activities | 2,695 | 11,351 |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (855) | (2,127) |
| Proceeds from sale of assets | 346 | — |
| Purchase of intangible assets | (509) | (470) |
| Notes receivable payments received | 314 | 212 |
| Acquisition of business | (8,500) | — |
| Net cash used in investing activities | (9,204) | (2,385) |
| Cash flows from financing activities: | ||
| Borrowings from long-term debt | 38,701 | 126,100 |
| Payments on long-term debt | (39,891) | (1,065) |
| Debt issuance costs | (269) | (115) |
| Payment of preferred stock dividend | (1,872) | (1,320) |
| Payments for taxes related to net share settlement of restricted share units | — | (7,935) |
| Payments for redemption of preferred stock | — | (130,766) |
| Payments for distributions to Pre-IPO LLC Members | (36) | — |
| Loan to shareholder (Note 10) | — | (3,100) |
| Net cash used in financing activities | (3,367) | (18,201) |
| Decrease in cash, cash equivalents and restricted cash | (9,876) | (9,235) |
| Cash, cash equivalents and restricted cash, beginning of period | 37,094 | 37,370 |
| Cash, cash equivalents and restricted cash, end of period | $27,218 | $28,135 |
Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Supplemental cash flow information: | ||
| Interest paid | $9,857 | $7,036 |
| Income taxes paid, net | 60 | 550 |
| Noncash investing and financing activity: | ||
| Capital expenditures accrued | $2,116 | $1,169 |
| Adjustment of convertible preferred stock to redemption value | 8,106 | 62,660 |
| Liability-classified restricted stock units vested | — | 2,250 |
| Deemed contribution from redemption of convertible preferred stock | — | 12,679 |
| Accrued tax withholding related to convertible preferred stock dividend | 104 | 749 |
| Contingent consideration upon acquisition | 446 | — |
| Debt issuance costs paid-in-kind - long-term debt | 4,059 | — |
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