$LTH

Life Time Group Holdings, Inc.

CIK:0001869198|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Total revenue	$ 865,996	$ 761,469	$ 1,654,696	$ 1,467,510
Operating expenses:
Center operations	$ 453,732	$ 403,925	$ 860,436	$ 774,912
Cost, Product and Service [Extensible Enumeration]	Center revenue	Center revenue	Center revenue	Center revenue
Rent	$ 94,339	$ 83,190	$ 184,230	$ 164,355
General, administrative and marketing	66,028	61,674	125,659	119,521
Depreciation and amortization	83,352	72,988	164,045	143,907
Other operating expense	18,840	31,243	35,783	48,696
Total operating expenses	716,291	653,020	1,370,153	1,251,391
Income from operations	149,705	108,449	284,543	216,119
Other income (expense):
Interest expense, net of interest income	(17,406)	(21,784)	(33,103)	(46,891)
Equity in (loss) earnings of affiliates	(2,703)	37	(2,577)	21
Other income	4,937	12,873	4,937	12,873
Total other expense	(15,172)	(8,874)	(30,743)	(33,997)
Income before income taxes	134,533	99,575	253,800	182,122
Provision for income taxes	33,175	27,473	64,344	33,878
Net income	$ 101,358	$ 72,102	$ 189,456	$ 148,244
Income per common share:
Basic (in usd per share)	$ 0.46	$ 0.33	$ 0.85	$ 0.69
Diluted (in usd per share)	$ 0.45	$ 0.32	$ 0.83	$ 0.66
Weighted-average common shares outstanding:
Basic (in shares)	222,626	219,286	222,242	215,642
Diluted (in shares)	227,337	225,511	227,397	224,585
Center revenue
Revenue:
Total revenue	$ 837,402	$ 735,865	$ 1,604,968	$ 1,421,519
Other revenue
Revenue:
Total revenue	$ 28,594	$ 25,604	$ 49,728	$ 45,991

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 189,456	$ 148,244
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	164,045	143,907
Deferred income taxes	11,536	19,493
Share-based compensation	25,959	28,288
Non-cash rent expense	10,629	13,063
Impairment charges associated with long-lived assets	282	1,177
(Gain) loss on disposal of property and equipment, net	(1,185)	12,623
Amortization of debt discounts and issuance costs	1,860	1,812
Changes in operating assets and liabilities	18,007	12,100
Other	(12,238)	(1,153)
Net cash provided by operating activities	408,351	379,554
Cash flows from investing activities:
Capital expenditures	(523,276)	(364,486)
Proceeds from sale-leaseback transactions	200,191	138,771
Other	1,944	(4,936)
Net cash used in investing activities	(321,141)	(230,651)
Cash flows from financing activities:
Repayments of debt	(11,419)	(11,164)
Proceeds from revolving credit facility	0	220,000
Repayments of revolving credit facility	0	(230,000)
Repayments of finance lease liabilities	(848)	(1,221)
Proceeds from financing obligations	0	10,300
Proceeds from stock option exercises	42,131	33,866
Common stock share repurchases	(73,392)	0
Proceeds from issuances of common stock in connection with the employee stock purchase plan	0	1,875
Employee tax withholding associated with net share-settled share-based awards	(17,268)	(4,334)
Other	(6)	(31)
Net cash (used in) provided by financing activities	(60,802)	19,291
Effect of exchange rates on cash and cash equivalents and restricted cash and cash equivalents	(329)	177
Increase in cash and cash equivalents and restricted cash and cash equivalents	26,079	168,371
Cash and cash equivalents and restricted cash and cash equivalents – beginning of period	232,169	27,878
Cash and cash equivalents and restricted cash and cash equivalents – end of period	$ 258,248	$ 196,249

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 223,647	$ 204,807
Restricted cash and cash equivalents	34,601	27,362
Accounts receivable, net	26,308	24,092
Center operating supplies and inventories	66,718	67,618
Prepaid expenses and other current assets	84,815	61,881
Total current assets	436,089	385,760
Property and equipment, net	3,811,994	3,633,229
Goodwill	1,235,359	1,235,359
Operating lease right-of-use assets	2,596,350	2,479,804
Intangible assets, net	180,726	180,810
Other assets	97,639	92,989
Total assets	8,358,157	8,007,951
Current liabilities:
Accounts payable	97,113	90,249
Construction accounts payable	170,536	143,545
Deferred revenue	57,994	60,309
Accrued expenses and other current liabilities	222,896	214,351
Current maturities of debt	31,774	21,848
Current maturities of operating lease liabilities	83,247	79,208
Total current liabilities	663,560	609,510
Long-term debt, net of current portion	1,465,999	1,485,939
Operating lease liabilities, net of current portion	2,682,256	2,555,513
Deferred income taxes, net	186,671	172,217
Other liabilities	57,503	58,561
Total liabilities	5,055,989	4,881,740
Commitments and contingencies (Note 10)
Stockholders’ equity:
Common stock, $0.01 par value per share; 500,000 shares authorized; 223,217 and 221,077 shares issued and outstanding, respectively	2,232	2,211
Additional paid-in capital	3,163,624	3,183,032
Retained earnings (accumulated deficit)	142,554	(46,902)
Accumulated other comprehensive loss	(6,242)	(12,130)
Total stockholders’ equity	3,302,168	3,126,211
Total liabilities and stockholders’ equity	$ 8,358,157	$ 8,007,951