Planet Fitness Flexes Financial Muscle with Strong 2025 Growth

HAMPTON, NH – February 24, 2026 – Planet Fitness, Inc. (NYSE: PLNT) today announced robust financial results for its fourth quarter and full fiscal year 2025, demonstrating significant momentum with double-digit revenue growth and a substantial increase in its membership base. The company's performance underscores the enduring appeal of its affordable, non-intimidating fitness model in a shifting consumer landscape.

For the full year ended December 31, 2025, the fitness giant reported a total revenue increase of 12.1% to $1.3 billion. This impressive top-line growth was fueled by a 6.7% increase in system-wide same-club sales and the addition of 1.1 million net new members. The company ended the year with approximately 20.8 million members globally and expanded its footprint by opening 181 new clubs, bringing its total to 2,896.

Net income attributable to Planet Fitness, Inc. for 2025 climbed to $219.1 million, or $2.62 per diluted share, a significant jump from $172.0 million, or $2.00 per diluted share, in the prior year. Adjusted EBITDA also saw a healthy increase, growing by $63.9 million to $551.6 million.

"We're pleased with our strong performance in 2025 that was the result of our unwavering focus on our four strategic imperatives," said Colleen Keating, Chief Executive Officer. "Adding approximately 1.1 million net new members in 2025—the first full-year of our 50 percent price increase for new Classic Card members—highlights the incredible demand for our brand."

A Resilient Model Defies Expectations

One of the most telling indicators of Planet Fitness's brand strength was its ability to successfully implement a 50% price increase for its entry-level Classic Card membership without stifling growth. The addition of over a million new members in the same year points to strong pricing power and the perceived value of its 'Judgement Free Zone®' offering. This move suggests the company has successfully navigated the line between affordability and profitability.

Further bolstering its financial health is the continued success of its premium Black Card membership. By the end of 2025, Black Card penetration reached a record high of 66.5% of its total member base. These higher-tier memberships, which offer additional perks like access to any club and the ability to bring a guest, are a key driver of average revenue per member and overall profitability.

The company’s strategy appears to be resonating in a market where consumers are increasingly seeking value without sacrificing quality. The combination of low-cost entry points and accessible premium options has allowed Planet Fitness to capture a wide segment of the market, from first-time gym-goers to more seasoned fitness enthusiasts looking for a convenient and affordable option.

Wall Street's Cool Reception to a Hot Report

Despite posting quarterly results that surpassed Wall Street expectations, Planet Fitness saw its stock dip in pre-market trading. For the fourth quarter, the company reported revenue of $376.3 million and adjusted earnings per share of $0.83, beating consensus estimates that hovered around $375 million in revenue and $0.81 per share.

The market's cautious reaction appears to be focused on the company's forward-looking guidance for 2026. While still projecting robust growth, the outlook suggests a slight deceleration compared to the stellar performance of 2025. Planet Fitness anticipates revenue to increase by approximately 9% and system-wide same-club sales to grow in the 4% to 5% range. This compares to the 12.1% revenue growth and 6.7% same-club sales growth achieved in 2025.

Company executives have indicated that 2026 will be a slightly lower growth year due to factors including an extended equipment re-equipment cycle for franchisees and the impact of selling several corporate-owned clubs. However, the outlook for adjusted EBITDA growth of approximately 10% and adjusted earnings per share growth of 9% to 10% signals confidence in underlying operational efficiency and profitability.

This dynamic highlights the high bar for success on Wall Street, where even strong performance can be overshadowed by concerns about the rate of future growth. For now, investors seem to be weighing the company's proven track record against a more moderate, albeit still healthy, forward-looking forecast.

The Franchise Engine and Global Ambitions

The backbone of Planet Fitness's rapid expansion remains its powerful and healthy franchise system. Approximately 90% of its clubs are owned and operated by independent franchisees, who were responsible for opening 158 of the 181 new locations in 2025. This asset-light model allows the company to scale quickly while leveraging the local expertise of its partners.

Franchisee profitability remains strong, with analysts noting that internal rates of return (IRRs) for new club openings are running solidly in the mid-20% range. This financial success encourages existing franchisees to continue investing and expanding their portfolios, fueling the company's overall growth trajectory. In 2025, new equipment placements in franchisee-owned clubs also increased, signaling a commitment to maintaining a high-quality member experience across the system.

Looking ahead, international expansion is a key pillar of the company's long-term strategy. With a growing presence in countries like Canada, Mexico, and Australia, Planet Fitness is actively seeking to enter one to two new international markets each year. Recent agreements, such as a deal with Impulso Gym to develop clubs in Mexico, demonstrate a focus on tapping underpenetrated markets where the demand for affordable fitness is high.

Tapping into a New Generation of Fitness

Planet Fitness has also proven adept at connecting with younger demographics, building a pipeline of future members. The company's High School Summer Pass program was a standout success in 2025, enrolling over 3.7 million teenagers who completed more than 19 million workouts during the summer.

More importantly, the program served as a powerful conversion tool, with 8.3% of non-member participants converting to paying members after the program ended. This initiative not only promotes physical and mental wellness among teens but also effectively introduces the Planet Fitness brand to Gen Z, building loyalty from an early age.

This strategic marketing aligns with broader consumer trends in the post-pandemic era, where there is a renewed focus on health and wellness, coupled with a continued demand for affordability. As the self-proclaimed "Walmart of the gym space," Planet Fitness is uniquely positioned to meet these needs on a massive scale. The company's 2026 outlook, which includes plans to open another 180 to 190 new locations, shows it has no intention of slowing down its mission to make fitness accessible to all.