Planet Fitness Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
View on SEC.govAbout 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.
Sep 30, 2024 · Filed Nov 7, 2024
PLNT$61.34+0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Balance Sheets (Unaudited) as of
Condensed Consolidated Balance Sheets (Unaudited)
| (in thousands, except per share amounts) | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $298,783 | $275,842 |
| Restricted cash | 67,766 | 46,279 |
| Short-term marketable securities | 108,629 | 74,901 |
| Accounts receivable, net of allowances for uncollectible amounts of $0 and $0 as of September 30, 2024 and December 31, 2023, respectively | 48,958 | 41,890 |
| Inventory | 4,858 | 4,677 |
| Restricted assets - national advertising fund | 363 | — |
| Prepaid expenses | 14,432 | 13,842 |
| Other receivables | 7,882 | 11,072 |
| Income tax receivable and prepayments | 4,773 | 3,314 |
| Total current assets | 556,444 | 471,817 |
| Long-term marketable securities | 55,535 | 50,886 |
| Investments, net of allowance for expected credit losses of $18,538 and $17,689 as of September 30, 2024 and December 31, 2023, respectively | 75,078 | 77,507 |
| Property and equipment, net of accumulated depreciation of $347,586 and $322,958, as of September 30, 2024 and December 31, 2023, respectively | 421,633 | 390,405 |
| Right-of-use assets, net | 400,246 | 381,010 |
| Intangible assets, net | 334,236 | 372,507 |
| Goodwill | 719,127 | 717,502 |
| Deferred income taxes | 481,456 | 504,188 |
| Other assets, net | 4,426 | 3,871 |
| Total assets | $3,048,181 | $2,969,693 |
| Liabilities and stockholders’ deficit | ||
| Current liabilities: | ||
| Current maturities of long-term debt | $22,500 | $20,750 |
| Accounts payable | 31,844 | 23,788 |
| Accrued expenses | 66,530 | 66,299 |
| Equipment deposits | 10,345 | 4,506 |
| Deferred revenue, current | 67,517 | 59,591 |
| Payable pursuant to tax benefit arrangements, current | 48,553 | 41,294 |
| Other current liabilities | 39,001 | 35,101 |
| Total current liabilities | 286,290 | 251,329 |
| Long-term debt, net of current maturities | 2,152,276 | 1,962,874 |
| Lease liabilities, net of current portion | 408,588 | 381,589 |
| Deferred revenue, net of current portion | 33,578 | 32,047 |
| Deferred tax liabilities | 1,566 | 1,644 |
| Payable pursuant to tax benefit arrangements, net of current portion | 428,858 | 454,368 |
| Other liabilities | 4,139 | 4,833 |
| Total noncurrent liabilities | 3,029,005 | 2,837,355 |
| Commitments and contingencies (Note 13) | ||
| Stockholders’ equity (deficit): | ||
| Class A common stock, $0.0001 par value, 300,000 shares authorized, 84,104 and 86,760 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 9 | 9 |
| Class B common stock, $0.0001 par value, 100,000 shares authorized, 488 and 1,397 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | — | — |
| Accumulated other comprehensive (loss) income | 220 | 172 |
| Additional paid in capital | 602,948 | 575,631 |
| Accumulated deficit | (869,309) | (691,461) |
| Total stockholders’ deficit attributable to Planet Fitness, Inc. | (266,132) | (115,649) |
| Non-controlling interests | (982) | (3,342) |
| Total stockholders’ deficit | (267,114) | (118,991) |
| Total liabilities and stockholders’ deficit | $3,048,181 | $2,969,693 |
See accompanying notes to condensed consolidated financial statements
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.