Overview
- Planet Fitness shares tumbled after the first-quarter report, leaving the stock down about 58% year to date.
- The company reported revenue of $337 million, up 22% from a year ago, and net income of $52 million, up 23%.
- Costs surged, with cost of revenue up 101% because of higher marketing spend and operational pressures.
- New member sign-ups dropped 36% year over year, and the company chose not to raise its premium Black Card price.
- Management cut its 2026 outlook to 7% revenue growth and now expects about a 2% net income decline, while still planning 180 to 190 new clubs and 150 to 160 franchisee equipment purchases.