Planet Fitness Inc

For the period ended Mar 31, 2024. Filed May 9, 2024.

About this filing

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 9, 2024

PLNT$61.34+0.4%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Balance Sheets(Unaudited) as of

Condensed Consolidated Balance Sheets (Unaudited)

(in thousands, except per share amounts)	March 31, 2024	December 31, 2023
Assets
Current assets:
Cash and cash equivalents	$301,707	$275,842
Restricted cash	46,190	46,279
Short-term marketable securities	93,362	74,901
Accounts receivable, net of allowances for uncollectible amounts of $0 and $0 as of March 31, 2024 and December 31, 2023, respectively	23,837	41,890
Inventory	4,959	4,677
Restricted assets - national advertising fund	17,945	—
Prepaid expenses	18,945	13,842
Other receivables	12,513	11,072
Income tax receivable	1,324	3,314
Total current assets	520,782	471,817
Long-term marketable securities	45,165	50,886
Investments, net of allowance for expected credit losses of $18,164 and $17,689 as of March 31, 2024 and December 31, 2023, respectively	76,360	77,507
Property and equipment, net of accumulated depreciation of $349,068 and $322,958, as of March 31, 2024 and December 31, 2023, respectively	382,019	390,405
Right-of-use assets, net	385,796	381,010
Intangible assets, net	359,750	372,507
Goodwill	719,074	717,502
Deferred income taxes	499,839	504,188
Other assets, net	3,993	3,871
Total assets	$2,992,778	$2,969,693
Liabilities and stockholders’ deficit
Current liabilities:
Current maturities of long-term debt	$20,750	$20,750
Accounts payable	20,560	23,788
Accrued expenses	43,709	66,299
Equipment deposits	7,594	4,506
Deferred revenue, current	77,263	59,591
Payable pursuant to tax benefit arrangements, current	41,294	41,294
Other current liabilities	35,331	35,101
Total current liabilities	246,501	251,329
Long-term debt, net of current maturities	1,959,032	1,962,874
Lease liabilities, net of current portion	390,399	381,589
Deferred revenue, net of current portion	33,820	32,047
Deferred tax liabilities	1,666	1,644
Payable pursuant to tax benefit arrangements, net of current portion	456,700	454,368
Other liabilities	3,891	4,833
Total noncurrent liabilities	2,845,508	2,837,355
Commitments and contingencies (Note 13)
Stockholders’ equity (deficit):
Class A common stock, $0.0001 par value, 300,000 shares authorized, 86,832 and 86,760 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	9	9
Class B common stock, $0.0001 par value, 100,000 shares authorized, 1,071 and 1,397 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	—	—
Accumulated other comprehensive (loss) income	(435)	172
Additional paid in capital	581,332	575,631
Accumulated deficit	(677,321)	(691,461)
Total stockholders’ deficit attributable to Planet Fitness, Inc.	(96,415)	(115,649)
Non-controlling interests	(2,816)	(3,342)
Total stockholders’ deficit	(99,231)	(118,991)
Total liabilities and stockholders’ deficit	$2,992,778	$2,969,693

See accompanying notes to condensed consolidated financial statements

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.