Planet Fitness Stock Earnings Reports

Planet Fitness reported Q1 results with solid financials but softer-than-expected member growth. Highlights: system-wide same-club sales +3.5%; +700k net new members in Q1; opened 15 clubs; revenue $337M (+22%); adjusted EBITDA $140M (+20%); cash and equivalents $652M; repurchased $50M of stock in Q1. Management identified four primary drivers of the membership shortfall: marketing that skewed toward fitness-minded consumers (losing some appeal to beginners/casuals), localized competitive pressure (notably South Central and Southeast U.S.), severe winter weather disruptions, and macroeconomic pressure. Actions: refocus marketing to emphasize the brand’s “no gymtimidation” appeal for beginners, selected a new creative agency, accelerate data-driven/AI marketing and CRM tools (dynamic content optimization, predictive churn pilots, next-best-action), continue testing pricing locally and have paused the national Black Card price increase, and maintain unit-growth plans (180–190 new clubs) with openings skewed to H2. Guidance was revised downward: same-club sales ~+1%, revenue ~+7%, adjusted EBITDA ~+6%, adjusted net income -~2% (adjusted EPS +~4% on share count assumptions). Management emphasized this is a strategic reset to prioritize sustainable member growth and that the company will continue to invest in the initiatives presented at Investor Day, while withdrawing the prior multi-year algorithm. Overall, Planet Fitness maintains confidence in its long-term positioning but expects the Q1 membership shortfall and paused price increase to weigh on 2026 results.