Life Time Group Holdings Inc

Latest Results (27.12.2024):

Revenue Growth

In the third quarter of 2024, Life Time Group Holdings Inc. reported a total revenue of $693.2 million, marking an 18.5% increase compared to the same quarter in the previous year. This growth was primarily driven by a rise in membership dues and in-center revenue, attributed to higher average dues, membership growth in new and ramping centers, and increased member utilization of in-center offerings.

Net Income Surge

Life Time Group Holdings Inc. achieved a net income of $41.4 million in the third quarter of 2024, representing a significant increase of 422.5% over the prior year quarter. This substantial growth in net income was largely due to improved business performance and a decrease in tax-effected one-time net losses from sale-leaseback transactions.

Adjusted EBITDA Improvement

The company reported an adjusted EBITDA of $180.3 million for the third quarter of 2024, which is a 26.1% increase from the previous year. This improvement reflects the company's enhanced revenue flow and structural business improvements that have positively impacted its margins.

Membership and Subscription Growth

As of September 30, 2024, Life Time Group Holdings Inc. saw an increase in center memberships by 42,171, or 5.4%, compared to the same date in 2023. Total subscriptions, including center memberships and digital on-hold memberships, rose by 5.6% to 876,509, indicating strong growth in the company's membership base.

Liquidity and Debt Management

Life Time Group Holdings Inc. reported a total available liquidity of $529.7 million as of September 30, 2024. The company successfully reduced its net debt leverage ratio to 2.4 times, down from 3.7 times a year earlier, and completed an equity offering of 6.0 million primary shares, resulting in net proceeds of $124.4 million, which were used to pay down debt.