Xponential Fitness, Inc.
For the period ended Dec 31, 2025. Filed Mar 4, 2026.
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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.
FY2025 · Filed Mar 4, 2026
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
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net loss | $(53,671) | $(98,696) | $(6,443) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 12,027 | 17,713 | 16,883 |
| Amortization and write off of debt issuance costs | 168 | 238 | 463 |
| Amortization and write off of discount on long-term debt | 7,744 | 4,122 | 2,949 |
| Change in contingent consideration from acquisitions | (6,948) | 8,358 | (18,933) |
| Non-cash lease expense | 4,072 | 7,139 | 13,311 |
| Change in tax receivable agreement liability | (11) | 998 | 3,193 |
| Bad debt expense | 2,844 | 3,102 | 2,450 |
| Equity-based compensation | 12,908 | 15,466 | 17,997 |
| Non-cash interest | (2,038) | (1,320) | (1,252) |
| Gain on disposal of assets and lease terminations | (6,945) | (12,791) | (2,120) |
| Gain on divestitures | (4,988) | — | — |
| Impairment of goodwill and other noncurrent assets | 32,718 | 62,551 | 16,750 |
| Loss on extinguishment of debt | 27,327 | — | — |
| Changes in assets and liabilities, net of effect of acquisition: | |||
| Accounts receivable | 4,517 | (3,919) | (7,350) |
| Inventories | 7,793 | 5,574 | (3,960) |
| Prepaid expenses and other current assets | (11,872) | 601 | 307 |
| Operating lease liabilities | (3,824) | (3,356) | (9,325) |
| Deferred costs | 11,276 | 8,912 | (5,712) |
| Notes receivable, net | 3 | 5 | (3) |
| Accounts payable | (141) | 8,616 | 889 |
| Accrued expenses | 19,827 | 12,903 | 4,867 |
| Other current liabilities | (370) | 2,140 | 4,190 |
| Deferred revenue | (31,696) | (19,538) | 7,020 |
| Other assets | 834 | (3,518) | (648) |
| Other liabilities | 6,764 | (3,623) | (2,810) |
| Net cash provided by operating activities | 28,318 | 11,677 | 32,713 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (3,581) | (4,713) | (7,430) |
| Proceeds from sale of assets | — | 346 | 60 |
| Purchase of studios | — | — | (164) |
| Purchase of intangible assets | (1,604) | (1,815) | (1,783) |
| Notes receivable issued | (173) | — | (581) |
| Notes receivable payments received | 178 | 533 | 776 |
| Proceeds from disposition of brands | 6,708 | — | — |
| Acquisition of business | — | (8,500) | (2,567) |
| Net cash provided by (used in) investing activities | 1,528 | (14,149) | (11,689) |
| Cash flows from financing activities: | |||
| Borrowings from long-term debt, net of original discount issue | 516,178 | 62,951 | 189,150 |
| Payments on long-term debt | (392,063) | (43,876) | (4,203) |
| Debt issuance costs | (1,658) | (318) | (411) |
| Payment of preferred stock dividend | (5,694) | (5,772) | (7,092) |
| Payment of promissory note liability | (3,392) | (3,467) | — |
| Payments of contingent consideration | (500) | — | (1,412) |
| Payments for taxes related to net share settlement of restricted share units | (3,030) | (83) | (8,111) |
| Proceeds from issuance of common stock in connection with stock-based compensation plans | 193 | 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 | (477) | (8,916) | (12,241) |
| Repurchase of Class A common stock | — | — | (50,378) |
| Payment received from shareholder (Note 9) | 2,435 | 14 | 9,211 |
| Payments for excise tax on share repurchases | — | (359) | — |
| Payments for redemption of preferred shares | (128,465) | — | — |
| Loan to shareholder (Note 9) | (249) | — | (4,400) |
| Proceeds from disgorgement of stockholders short-swing profits (Note 9) | — | — | 516 |
| Net cash used in financing activities | (16,722) | (1,883) | (21,300) |
| Increase (decrease) in cash, cash equivalents and restricted cash | 13,124 | (4,355) | (276) |
| Cash, cash equivalents and restricted cash, beginning of period | 32,739 | 37,094 | 37,370 |
| Cash, cash equivalents and restricted cash, end of period | $45,863 | $32,739 | $37,094 |
Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Supplemental cash flow information: | |||
| Interest paid | $37,515 | $41,289 | $34,786 |
| Income taxes paid, net | 206 | 563 | 1,567 |
| Non-cash investing and financing activities: | |||
| Capital expenditures accrued at period end | $344 | $799 | 1,023 |
| Adjustment of convertible preferred stock to redemption value | — | — | (49,970) |
| Fair value of promissory note entered into in connection with acquisition (Note 3) | — | — | 6,463 |
| Liability-classified restricted stock units vested | — | — | 2,250 |
| Deemed contribution (dividend) from redemption of convertible preferred stock | (11,655) | — | 12,679 |
| Accrued tax withholding related to convertible preferred stock dividend | — | — | 112 |
| 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 | — |
| Fair value of promissory note entered into in connection with divestiture (Note 3) | 4,316 | — | — |
| Original issue discount | 18,822 | — | — |
| Non-cash proceeds from sale of asset | — | 275 | — |
| 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.