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27 Jul 2021
Xponential Fitness completes IPO, with share price slightly below estimates
BY
Tom Walker
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Xponential's portfolio of brands includes CycleBar
photo: CycleBar/Xponential Fitness
Xponential Fitness has completed its initial public offering (IPO), becoming the second major franchised operator – after F45 Training – to go public this month. The global boutique fitness giant listed on the New York Stock Exchange (NYSE) on 23 July, with an opening share price of US$11.20 – below its estimated US$14 to US$16 range.
Since then, the shares have increased in price slightly and are currently (27 July) trading at around US$12.
"It's a monumental day as we become a public company listed on the NYSE," Xponential said in a statement.
"We're so thankful for our Xponential family, who is made up of dedicated staff members, owners and studio teams."
Xponential has grown rapidly in recent years. In March 2021 the group acquired boxing studio operator Rumble, adding it to its portfolio of franchised fitness brands.
As well as Rumble, the portfolio now includes Pure Barre, Club Pilates, CycleBar, YogaSix, StretchLab, Row House, AKT, and STRIDE.
The group opened 394 new locations in 2019 and another 240 during the pandemic-hit 2020.
It recently launched five of its brands in the emerging Saudi Arabian market, including Club Pilates, Pure Barre, AKT, YogaSix, and CycleBar.
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