Xponential Fitness, Inc.
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 14, 2025
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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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (As Corrected) · (As Corrected) | |||
| Cash flows from operating activities: | |||
| Net income (loss) | $(98,696) | $(6,443) | $1,101 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 17,713 | 16,883 | 15,315 |
| Amortization and write off of debt issuance costs | 238 | 463 | 126 |
| Amortization and write off of discount on long-term debt | 4,122 | 2,949 | 613 |
| Change in contingent consideration from acquisitions | 8,358 | (18,933) | 2,440 |
| Non-cash lease expense | 7,139 | 13,311 | 2,655 |
| Bad debt expense (recovery) | 3,102 | 2,450 | (712) |
| Equity-based compensation | 15,466 | 17,997 | 29,044 |
| Non-cash interest | (1,320) | (1,252) | (1,069) |
| Gain on disposal of assets | (12,791) | (2,120) | (78) |
| Impairment of goodwill and other assets | 62,551 | 16,750 | 3,656 |
| Changes in assets and liabilities, net of effect of acquisition: | |||
| Accounts receivable | (3,919) | (7,350) | (12,183) |
| Inventories | 5,574 | (3,960) | (4,365) |
| Prepaid expenses and other current assets | 601 | 307 | (629) |
| Operating lease liabilities | (3,356) | (9,325) | (2,460) |
| Deferred costs | 8,912 | (5,712) | (2,024) |
| Notes receivable, net | 5 | (3) | 33 |
| Accounts payable | 8,616 | 889 | 469 |
| Accrued expenses | 12,903 | 4,867 | (3,778) |
| Other current liabilities | 4,230 | 7,082 | 2,226 |
| Deferred revenue | (19,538) | 7,020 | 18,623 |
| Other assets | (3,518) | (648) | (240) |
| Other liabilities | (4,715) | (2,509) | 3,301 |
| Net cash provided by operating activities | 11,677 | 32,713 | 52,064 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (4,713) | (7,430) | (8,955) |
| Proceeds from sale of assets | 346 | 60 | 65 |
| Purchase of studios | — | (164) | — |
| Purchase of intangible assets | (1,815) | (1,783) | (7,177) |
| Notes receivable issued | — | (581) | (1,782) |
| Notes receivable payments received | 533 | 776 | 3,236 |
| Acquisition of businesses | (8,500) | (2,567) | — |
| Net cash used in investing activities | (14,149) | (11,689) | (14,613) |
| Cash flows from financing activities: | |||
| Borrowings from long-term debt | 62,951 | 189,150 | 7,425 |
| Payments on long-term debt | (43,876) | (4,203) | (2,978) |
| Debt issuance costs | (318) | (411) | (55) |
| Payment of preferred stock dividend and deemed cash dividend | (5,772) | (7,092) | (16,250) |
| Payment of promissory note liability | (3,467) | — | — |
| Payments of contingent consideration | — | (1,412) | (2,190) |
| Payments for taxes related to net share settlement of restricted share units | (83) | (8,111) | (1,909) |
| Proceeds from issuance of common stock in connection with stock-based compensation plans | 210 | — | — |
| Payments for tax receivable agreement | (2,267) | (1,163) | — |
| Payments for redemption of preferred stock | — | (130,766) | — |
| Payments for distributions to Pre-IPO LLC Members | (8,916) | (12,241) | (394) |
| Repurchase of Class A common stock | — | (50,378) | — |
| Payment received from shareholder (Note 11) | 14 | 9,211 | — |
| Payments for excise tax on share repurchases | (359) | — | — |
| Loan to shareholder (Note 11) | — | (4,400) | (5,050) |
| Proceeds from disgorgement of stockholders short-swing profits (Note 11) | — | 516 | — |
| Net cash used in financing activities | (1,883) | (21,300) | (21,401) |
| Increase (decrease) in cash, cash equivalents and restricted cash | (4,355) | (276) | 16,050 |
| Cash, cash equivalents and restricted cash, beginning of period | 37,094 | 37,370 | 21,320 |
| Cash, cash equivalents and restricted cash, end of period | $32,739 | $37,094 | $37,370 |
Consolidated Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Supplemental cash flow information: | |||
| Interest paid | $41,289 | $34,786 | $11,631 |
| Income taxes paid, net | 563 | 1,567 | 2,785 |
| Non-cash investing and financing activities: | |||
| Capital expenditures accrued at period end | $799 | $1,023 | $1,407 |
| Contingent consideration converted to equity (Note 11) | — | — | 29,070 |
| Collateralization of note from shareholder with treasury shares (Note 11) | — | — | 1,697 |
| Adjustment of convertible preferred stock to redemption value | — | (49,970) | 31,185 |
| Fair value of promissory note entered into in connection with acquisition | — | 6,463 | — |
| 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 | — | 112 | — |
| Intangible asset acquired in exchange for deferred revenue | — | — | 4,800 |
| Receivable from shareholder arising from the Rumble studios acquisition | — | 1,450 | — |
| Excise tax liability accrued | — | 360 | — |
| Preferred stock dividend accrued | — | 448 | — |
| Contingent consideration upon acquisition | 446 | — | — |
| Debt issuance costs paid-in-kind - long-term debt | 4,059 | — | — |
| Non-cash proceeds from sale of asset | 275 | — | — |
| Receivable from holders of the preferred stock | — | — | 1,162 |
| Preferred stock dividend paid-in-kind | 2,150 | — | — |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.