Life Time Group Holdings Inc

Latest Results (05.04.2026):

Life Time Group Holdings Inc. reported results for the fourth quarter of fiscal 2025 (and full-year 2025) showing continued revenue and margin expansion: Q4 total revenue was $745.1 million (up 12.3% year-over-year) and full-year revenue was $2,995.3 million (up 14.3%). The company delivered materially higher GAAP net income and EPS in Q4 and for the year, supported by stronger membership revenue, higher per‑member revenue and significant cash generation, while announcing a $500 million share repurchase program.

Revenue and Memberships — Q4 2025

Total revenue for the fourth quarter of 2025 was $745.1M (+12.3% vs. Q4 2024). Center memberships totaled 822,380 (up 1.3% year‑over‑year) and average center revenue per membership in Q4 was $882 (+10.8% YoY). Comparable center revenue grew 9.9% in Q4 (11.1% for the full year).

Profitability & EPS — Q4 2025

GAAP net income for Q4 2025 was $123.0M (up 230.6% YoY), diluted EPS $0.54 (Q4 2024: $0.17). For full‑year 2025, net income was $373.7M (up 139.2%), diluted EPS $1.66.

Adjusted Performance Metrics

Adjusted net income for Q4 was $77.4M (+28.4% YoY) and adjusted EBITDA was $202.6M (+14.5% YoY). For the full year, adjusted net income was $325.5M (+62.3%) and adjusted EBITDA was $825.2M (+21.9%). Adjusted diluted EPS was $0.34 in Q4 and $1.44 for the year.

Cash Flow, CapEx and Free Cash Flow

Net cash provided by operating activities was $239.9M in Q4 (+47.0% YoY) and $870.5M for the year (+51.4%). Total capital expenditures in Q4 were $304.5M (growth capex of $240.1M); full‑year capex was $891.5M. Free cash flow for 2025 was positive $206.5M (including $227.4M of sale‑leaseback proceeds).

Balance Sheet & Liquidity

Life Time ended 2025 with $204.8M of cash and $618.2M of undrawn revolving availability (total available liquidity $823.0M). Net debt leverage declined to 1.6x on trailing‑12‑month adjusted EBITDA (vs. 2.3x at 12/31/2024).

Share Repurchase Program

The board authorized a share repurchase program of up to $500 million (subject to market conditions and other constraints). The company noted the 2026 guidance does not assume any impact from the buyback.

Operational Activity — Centers

Life Time opened four centers in Q4 and 10 centers in 2025, ending the year with 189 centers and ~18.3 million square feet. The company expects to open 12–14 new clubs in 2026, with a much larger weighted average club square footage ( ~1.2M sq ft for the 2026 class).

2026 Guidance & Key Expectations

For fiscal 2026 Life Time guided to total revenue $3,300–$3,330M (midpoint ≈ +10.7% YoY) and adjusted EBITDA $910–$925M (~+11.2% YoY). Other expectations: open 12–14 new clubs (mostly large‑format), comparable center revenue growth 6.3–7.3%, complete ≥$300M of sale‑leasebacks, year‑end diluted shares ~229–231M, manage net debt/Adjusted EBITDA ≤2.0x, and a ~28% effective tax rate.

Items Affecting GAAP Results

Q4 and full‑year GAAP net income included several non‑recurring items (legal settlements / partial satisfaction payments, employee retention credits and gains on sale‑leaseback transactions) that materially contributed to the year‑over‑year GAAP improvement; Life Time also presents adjusted metrics that exclude these impacts.