Xponential Fitness Slashes 2026 Outlook as Q2 Revenue Drops 13%
XPOF sits 50% above its 52-week low of $3.83 on elevated volume (1.8× avg).
Summary
Xponential Fitness reported a 13% year-over-year revenue decline in Q2, driven by a sharp drop in equipment and merchandise sales. Adjusted net income and EBITDA also fell significantly. The company slashed its full-year 2026 guidance: revenue is now expected between $250 million and $260 million, down 19% at the midpoint, and net new studio openings are cut 25% to about 150. This follows a Q1 that already showed a 21% revenue decline and 6% same-store sales drop, indicating accelerating operational deterioration. The merchandise model shift from in-house wholesale to outsourced retail is adding execution risk. With the stock at $5.74 and a market cap near $283 million, the lowered outlook materially resets expectations for a company already under pressure from activist investor Voss Capital, whose stake was recently diluted to 16.2%.
At the time of this announcement, XPOF was trading at $5.74 on NYSE in the Trade & Services sector, with a market capitalization of approximately $282.8M. The 52-week trading range was $3.83 to $10.42. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.