Planet Fitness Announces Key Year-End Metrics

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Jan 09, 2023, 16:01 ET

Company to participate in fireside chat at the ICR 2023 conference on Tuesday, January 10, 2023

HAMPTON, N.H., Jan. 9, 2023 /PRNewswire/ -- Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announced today that as of December 31, 2022, it had approximately 17.0 million members, an increase of 1.8 million members since the end of 2021. Additionally, in 2022, it placed equipment in 154 new franchised locations and opened 158 new Planet Fitness stores including 14 corporate-owned locations, bringing system-wide total stores to 2,410.

"We continued to grow the Planet Fitness footprint and brand presence, resulting in the largest fourth quarter membership growth on record, driving strong momentum heading into 2023. We are thrilled to have welcomed so many new members to Planet Fitness, exceeding our member growth expectations for the year, which we believe reinforces consumers' commitment to health and wellness and that the high-quality, affordable fitness experience Planet Fitness provides continues to resonate," said Chris Rondeau, CEO of Planet Fitness.

The Company plans to release its full fiscal year 2022 results and a 2023 outlook on February 23, 2023.

Live Webcast

Management's fireside chat presentation is scheduled for January 10, 2023, at 10:30 am Eastern Time.

A live webcast of the presentation will be available at http://investor.planetfitness.com.

About Planet Fitness

Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of December 31, 2022, Planet Fitness had approximately 17.0 million members and 2,410 stores in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia. The Company's mission is to enhance people's lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone^®. Approximately 90 percent of Planet Fitness stores are owned and operated by independent business men and women.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the federal securities laws, which involve risks and uncertainties. Forward-looking statements include the Company's statements with respect to expected future performance presented under the headings "Additional Key Points to be Shared During the Event" and "Long-Term Growth Targets," those attributed to the Company's Chief Executive Officer and Chief Financial Officer in this press release, including with respect to the Company's growth opportunities, ability to create long-term value for our shareholders, long-term store and member growth, and other statements, estimates and projections that do not relate solely to historical facts. Forward-looking statements can be identified by words such as "believe," "expect," "goal," plan," "will," "prospects," "future," "strategy," "projected" and similar references to future periods, although not all forward-looking statements include these identifying words. Forward-looking statements are not assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of the business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Important factors that could cause our actual results to differ materially include risks and uncertainties associated with the duration and impact of COVID-19, which has resulted and may in the future result in store closures and a decrease in our net membership base and may give rise to or heighten one or more of the other risks and uncertainties described herein, competition in the fitness industry, the Company's and franchisees' ability to attract and retain members, the Company's and franchisees' ability to identify and secure suitable sites for new franchise stores, changes in consumer demand, changes in equipment costs, the Company's ability to expand into new markets domestically and internationally, operating costs for the Company and franchisees generally, availability and cost of capital for franchisees, acquisition activity, developments and changes in laws and regulations, our substantial increased indebtedness as a result of our refinancing and securitization transactions and our ability to incur additional indebtedness or refinance that indebtedness in the future, our future financial performance and our ability to pay principal and interest on our indebtedness, our corporate structure and tax receivable agreements, failures, interruptions or security breaches of the Company's information systems or technology, our ability to successfully integrate and realize the anticipated benefits from the Sunshine Acquisition, general economic conditions and the other factors described in the Company's annual report on Form 10-K for the year ended December 31, 2021, and the Company's other filings with the SEC. In light of the significant risks and uncertainties inherent in forward-looking statements, investors should not place undue reliance on forward-looking statements, which reflect the Company's views only as of the date of this press release. Except as required by law, neither the Company nor any of its affiliates or representatives undertake any obligation to provide additional information or to correct or update any information set forth in this release, whether as a result of new information, future developments or otherwise.

SOURCE Planet Fitness, Inc.