Planet Fitness, Inc. (PLNT) SEC Filings & Earnings Calls

Same club sales deceleration

“Same club sales growth: System-wide clubs 1.7 % 8.2 %”

Interest expense increase

“Interest expense was $33.4 million for the three months ended June 30, 2026, compared to $26.2 million for the three months ended June 30, 2025, an increase of $7.2 million, or 27.6%.” · word for word

Equipment segment margin pressure

“Equipment Segment Adjusted EBITDA was $24.3 million for the three months ended June 30, 2026, compared to $26.4 million for the three months ended June 30, 2025, a decrease of $2.1 million, or 8.0%.” · word for word

Equipment segment margin pressure due to replacement equipment discounts.

“Equipment Segment Adjusted EBITDA decreased $2.1 million or 8.0% to $24.3 million from $26.4 million in the prior year period. This decrease was primarily attributable to the timing of replacement equipment discounts.” · word for word

Membership growth headwinds in peak season; pricing power constrained

“CEO: '2026 is off to a slower than expected start from a net member growth perspective as we faced internal and external headwinds during our peak sign-up period' and 'pausing the planned national Black Card price increase'”

Same club sales deceleration

“Same club sales growth: System-wide clubs 3.5% (vs 6.1% in prior year period)”

Interest expense increase

“Interest expense was $33.0 million for the three months ended March 31, 2026, compared to $26.2 million for the three months ended March 31, 2025, an increase of $6.8 million, or 25.8%.” · word for word

Franchisee Concentration Risk

“Through his ownership interest in BL Technologies Investments, LLC, Gov. Craig Benson entered into an area development agreement... In 2025, the Company received royalty revenue, national advertising fund revenue, and other franchise-related fees under Gov. Benson’s franchise agreements, which totaled approximately $5.0 million.” · word for word

Tax Receivable Agreement Liability

“we expect that the reduction in tax payments for us associated with all past and future exchanges and sales of Holdings Units as described above would aggregate to approximately $488.5 million over the remaining term of the tax receivable agreements... we would be required to pay the other parties to the tax receivable agreements 85% of such amount, or $415.” · word for word

CFO transition risk; interim CFO may lack long-term stability.

“CFO departure and interim appointment; search for permanent CFO ongoing.”

Competition from weight loss medications

“The increased prevalence of weight loss medications may negatively impact consumer demand for health and fitness centers, particularly if consumers perceive such medications as a substitute for exercise-based fitness programs.” · word for word

Cybersecurity and data breach risk

“The occurrence of cyber incidents, or a deficiency in cybersecurity, could negatively impact our business by causing a disruption to our operations, a compromise or corruption of confidential information, and/or damage to our employee and business relationships and reputation, all of which could harm our brand and our business.” · word for word

Franchisee dependence and execution risk

“Our financial results are affected by the operating and financial results of, our relationships with and actions taken by our franchisees. Financial forecasting may differ materially from actual results.” · word for word

Refinancing risk is managed; no material adverse change indicated.

“Refinancing is proactive; no default or covenant breach mentioned.”

Execution risk on club expansion and same-store sales growth targets

“Targets depend on real estate availability, franchisee performance, and consumer demand.”

International expansion losses

“This increase was partially offset by $1.5 million of lower Adjusted EBITDA from the ten clubs open and operating in Spain, of which nine clubs have been opened since July 1, 2024.” · word for word

Interest rate exposure

“Interest expense was $26.3 million for the three months ended September 30, 2025, compared to $26.6 million for the three months ended September 30, 2024, a decrease of $0.3 million, or 1.0%.” · word for word

Tariff exposure limited but monitored; guidance excludes tariff impact beyond existing regulations

“The Company continues to believe that between its tariff mitigation plans and the current tariff levels, its exposure is limited.” · word for word