Planet Fitness Inc-A 2025年度报告

DearFellowShareholders, In2025,wecelebratedthe10-yearanniversaryofPlanetFitness'initialpublicoffering,markingadecadeofremarkablegrowth inwhich wenearly tripledournumberofclubs and thesizeofourmembership.Duringthattime,PlanetFitnessapproximately20.8millionmembersand2,896clubsglobally. and differentiated conceptcontinues tomake fitness more accessible by removing the barriers ofaffordability and extends beyond our clubs into our communities.This year alsomarked the 10-year anniversary of our partnershipJudgementFree Zonefitness centers,communitygrants,trainings,fitnessactivations,andmore. Togetherwithourfranchisees and our passionate teammembers inboth our clubs andat ourClub Support Center,wearefueledbyourpurposeto createamoreconnectedand JudgementFree"planet,wherefitnessandwellbeingare within reach for all. 2025Results members,an increase of1.1million members.This reinforces the strength ofour brand, valueproposition,andthehigh-qualityexperiencewedelivertoourmembers. Our system-wide sales increased10%over2024 to $5.3billion;wegenerateds1.3billion in revenue,up12%over2024;adjustedEBITDAgrew13%to$551.6million;andadjusted earningsperdiluted share grew19%to $3.07. aroundtheworld Ourhighlyfranchisedasset-light modelcontinues togenerate strongand predictable cash flow.During 2024and2025, we returned nearly s800 million to shareholders through share repurchases, while also funding strategicinvestments for future growth. PlanetFitnessmemberscompletedmorethan650millionworkoutsinourclubs,anincreaseof8%over2024 At the end of2025,approximately7.4%of allAmericans over the age of14years belonged toPlanetFitness.Theseresultsreflectasimpletruth:PlanetFitness is an importantpartofmanypeople'shealthandwellness routines. ExpandingourLeadership We have a clear strategy to expand ourleadership position: strengthen the Planet Fitness brand, deepen memberimperatives: 1.Redefining ourbrandstrategy;2.Enhancingourmemberexperience;3.Refining ourproductandoptimizing ourformat;and4.Acceleratingnewclubgrowth. Redefining ourBrand Promise fitnesslevels. benefits ofbelongingtoPlanetFitness,thedepthofouroffering,supportive environment,and affordability. resonated with members and prospects alike-highlighting the increase in our strength equipment in our clubs andreinforcing our mission to foster a welcoming and Judgement Freecommunity where everyonebelongs. EnhancingourMemberExperience We believe that delivering a high-value outstanding experience is the best way to enhance loyalty and increasePlanet Fitness members.This reflects the strength of ourmember experience and the lasting connection manymembersfeeltoward ourbrand. connecting with our members, whether they're working out in our clubs or can't make it into the gym on a given day. tobrandstheylovethroughpartnershipswithlike-mindedbrands.In2o25alone,weareproudtohavehelpedourmemberssaveapproximatelys9milliononpurchasesmadethroughourPFPerksprogram We're also focusing on the first 100 days of membership, as we believe that early engagement with our members, bothdigitallyand in ourclubs, builds strongerrelationships and higher lifetime value. We continue to refine our club format to better reflect evolving member needs and preferences. We realigned ourand stretching.These enhancements providemembers with the right balance of cardio and strength equipment somembers can achieve their workout, their way. Theresponsefrombothmembersandfranchiseeshasbeenextremelypositive.In2025,95percentofourfranchisees AcceleratingNewClubGrowth enhancefranchiseereturns. globally,with broad demographic appeal.We continue to expand in existing markets including Canada, Mexico,Australia,andSpain,and intendto strategically enteronetotwonewmarketseachyear. GrowingDemandintheGoldenAgeofFitness We believe we are in a rare moment when a number of important growthfactors are coming together.Demand for when itcomestoaging well,preventingdisease,protectingmentalhealth,and livinglonger,healthierlives.Asaresultdemandforaccessibleandaffordablefitnessisgrowing. At the same time, our member base is getting younger. Gen Zis ourfastest-growing demographic, and many in thisgeneration are only nowaging intomembership. PlanetFitness is uniquelypositionedto serve this growing demand.Our welcoming environmentand high-value,low-prospectivemembers. ProgramslikeourHighSchoolSummerPassreflectthisopportunity.In2o25,wehadanall-timehighofmoretharthan 19 million workouts, up from 13 million. goodandachievetheirhealthandwellnessgoals.Ourinclusive,welcomingatmospheremakesusthenaturalpartnerweightloss. ShiftingRealEstateLandscape Overthepastseveral years,shoppingcenterretail spacehashadlowvacancyratesandescalatingrents,whichmadewaveof retail closures andbankruptcies openedupspaceto themarketandcreated newopportunitiesforsecond-generationlocationsthatfitourmodelwell. hasbeguntomoderate Even though competition for these locations remains strong, these trends create a more favorable environmenttheseopportuni