Planet Fitness, Inc., a leading franchisor and operator of fitness clubs, has released its financial results for the fourth quarter and fiscal year ending December 31, 2024. The company reported significant growth in revenue, net income, and membership, reflecting its strong market position and strategic initiatives.

Financial Highlights

For the fourth quarter of 2024, Planet Fitness reported a total revenue increase of 19.4% to $340.5 million, compared to $285.1 million in the same period last year. Net income attributable to Planet Fitness, Inc. rose to $47.1 million, or $0.56 per diluted share, up from $35.3 million, or $0.41 per diluted share, in the prior year period. Adjusted EBITDA also saw a notable increase of 14.4% to $130.8 million.

For the full fiscal year 2024, total revenue grew by 10.3% to $1.2 billion. Net income attributable to Planet Fitness, Inc. was $172.0 million, or $2.00 per diluted share, compared to $138.3 million, or $1.62 per diluted share, in the previous year. Adjusted EBITDA for the year increased by 12.0% to $487.7 million.

Business and Operational Highlights

Planet Fitness achieved a system-wide same club sales increase of 5.5% in the fourth quarter and 5.0% for the full year. The company opened 86 new clubs in the fourth quarter and 150 new clubs throughout the year, bringing the total number of clubs to 2,722 as of December 31, 2024. Net membership grew by 1 million since the end of 2023, reaching approximately 19.7 million members.

Strategic Initiatives and Corporate Developments

In 2024, Planet Fitness introduced a new economic model for opening and operating clubs and raised the new member Classic Card price for the first time in over 25 years. The company also focused on enhancing member experience, refining its product offerings, and accelerating club openings. These initiatives are aimed at strengthening the brand and delivering increased shareholder value.

Management’s Perspective

Colleen Keating, Chief Executive Officer of Planet Fitness, commented, “We had strong results in 2024 and closed out the year with 19.7 million members, posting revenue growth of more than 10% and growing Adjusted EBITDA by approximately 12%. As consumers continue to prioritize health and wellness, we are well positioned to grow our brand, strengthen our industry-leading position, and ultimately deliver increased shareholder value.”

Future Outlook

For the year ending December 31, 2025, Planet Fitness expects system-wide same club sales growth in the range of 5% to 6%, revenue growth of approximately 10%, and Adjusted EBITDA growth of around 10%. The company also anticipates opening 160 to 170 new clubs and placing new equipment in approximately 130 to 140 franchisee-owned locations.

SEC Filing: Planet Fitness, Inc. [ PLNT ] – 8-K – Feb. 25, 2025