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2025 Outlook

Full-Year 2025 Guidance

The Company is also reiterating or updating the following operational and financial guidance for full-year fiscal 2025:

• Open 10 to 12 new centers.
• Manage our net debt leverage ratio to remain at or below 2.00 times. 
• Comparable center revenue growth of 8.5% to 9.5%, increased from our previous expectations of 7% to 8%.
• Adjusted EBITDA growth driven primarily by dues revenue growth and expanded operating leverage.
• Rent to include non-cash rent expense of $35 million to $38 million.
• Interest expense, net of interest income and capitalized interest, of approximately $80 million to $84 million, reflecting the positive impact of the interest rate swap agreement. Our previous expectations were $90 million to $94 million.
• Provision for income tax rate estimate of 23%, revised down from the previous estimate of 27% to reflect the tax benefit realized on stock option exercises in the first quarter.
• Cash income tax expense of $39 million to $41 million, which compares to our previous expectation of $58 million to $62 million and reflects the tax benefit discussed above.
• Depreciation and amortization expense of $286 million to $294 million, reflecting the impact of asset acquisitions and the timing of certain capital expenditure initiatives. The previous expectations were $265 million to $273 million.