v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 119,200 $ 100,374
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 80,394 76,710
Equity-based compensation expense 6,270 6,138
Deferred tax expense 29,875 27,619
Amortization of deferred financing costs 2,919 2,639
Accretion of marketable securities discount (200) (837)
Losses from equity-method investments, net of tax 1,086 1,433
Dividends accrued on held-to-maturity investment (1,221) (1,139)
Credit loss on held-to-maturity investment 1,023 4,603
Gain on re-measurement of tax benefit arrangement liability 0 (1,294)
Gain on sale of equity-method investment (12,541) 0
Gain on insurance proceeds 0 (1,460)
Other (1,652) 210
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 5,336 4,747
Inventory (1,598) 1,799
Other assets and other current assets 2,370 (5,400)
Restricted assets - national advertising fund (9,556) (9,023)
Accounts payable and accrued expenses (894) 1,317
Other liabilities and other current liabilities 68 (427)
Income taxes 1,498 (4,753)
Payments pursuant to tax benefit arrangements (54,424) (52,740)
Equipment deposits (2,854) 6,009
Deferred revenue 22,927 13,770
Leases 5,423 7,599
Net cash provided by operating activities 193,449 177,894
Cash flows from investing activities:    
Additions to property and equipment (67,425) (58,801)
Insurance proceeds for property and equipment 0 2,053
Payment of deferred consideration for acquired clubs 0 (1,539)
Proceeds from sale of equity-method investment 24,264 0
Purchases of marketable securities (41,252) (81,958)
Maturities of marketable securities 62,509 71,954
Issuance of note receivable, related party (20,647) (2,639)
Other investing activity (37) (32)
Net cash used in investing activities (42,588) (70,962)
Cash flows from financing activities:    
Proceeds from issuance of Variable Funding Notes 75,000 0
Repayment of long-term debt (11,000) (11,250)
Payment of deferred financing and other debt-related costs (141) 0
Proceeds from issuance of Class A common stock 856 1,177
Repurchase and retirement of Class A common stock (251,254) (52,085)
Principal payments on capital lease obligations (100) (51)
Payment of share repurchase excise tax (4,152) (2,549)
Distributions paid to members of Pla-Fit Holdings (659) (1,331)
Net cash used in financing activities (191,450) (66,089)
Effects of exchange rate changes on cash and cash equivalents (157) 1,658
Net (decrease) increase in cash, cash equivalents and restricted cash (40,746) 42,501
Cash, cash equivalents and restricted cash, beginning of period 411,956 349,674
Cash, cash equivalents and restricted cash, end of period 371,210 392,175
Supplemental cash flow information:    
Cash paid for interest 62,541 50,067
Net cash paid for income taxes 16,462 18,285
Non-cash investing activities:    
Non-cash additions to property and equipment included in accounts payable and accrued expenses $ 19,668 $ 16,667