Increases 2024 revenue and Adjusted EBITDA outlook

Initiated new $500 million share repurchase program upon $280 million share repurchase completion

Appointed Jay Stasz as Chief Financial Officer, effective November 15, 2024

HAMPTON, N.H., Nov. 7, 2024 /PRNewswire/ -- Today, Planet Fitness, Inc. (NYSE: PLNT) reported financial results for its third quarter ended September 30, 2024.

"We delivered solid results in the quarter, including more than 5 percent revenue growth, approximately 3 percent net income growth and approximately 10 percent Adjusted EBITDA growth, and are raising our outlook for certain key financial targets," said Colleen Keating, Chief Executive Officer. "During the quarter, I had the opportunity to address franchisees, club employees, and our team members at our franchisee conference. This was an important opportunity to reinforce our strategic priorities of redefining our brand, enhancing member experience, refining our product, and accelerating club openings, which we expect will drive our next phase of growth. The enthusiasm the franchisees showed was highly encouraging. We also achieved a significant milestone by raising the price of our Classic Card membership to $15 for new members, marking the first increase in over 25 years, underscoring the tremendous value that we continue to offer our members. I am energized by our purpose of enhancing people's lives and creating a healthier world and believe it sets us, our franchisees, and our shareholders up for long-term success."