PLNT Planet Fitness (PLNT) Q4 FY25 earnings call
Planet Fitness delivered a strong Q4 FY25, driven by robust member growth, successful strategic initiatives, and record club openings. The company reiterated its 3-year growth algorithm, anticipating FY26 to be the lowest growth year due to equipment replacement cycles and a corporate club sale. Management remains confident in its model and ability to drive future growth despite short-term weather and attrition headwinds.
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PLNT operating KPIs by quarter
| KPI | This call Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Paid subscription members | ~20.8MWe ended the year with approximately 20.8 million members and a global footprint of nearly 2,900 clubs, reinforcing the quality of our member experience and our compelling value proposition.Source: earnings call transcript | — | 21.5MWe finished the quarter with 21.5 million members, up 3.6% to last year.Source: earnings call transcript | — |
| New stores opened | 104Thanks to an incredible push by our total system, particularly in the last several weeks of the year, we opened 104 clubs during the fourth quarter, an all-time quarterly high for a total of 181 openings in 2025.Source: earnings call transcript | 15During the first quarter, we grew net new members by more than 700,000, achieved system-wide same club sales growth of 3.5%, increased adjusted EBITDA 19.5% over Q1 2025 and opened 15 new clubs.Source: earnings call transcript | 23System-wide same club sales increased by 1.7%, and and adjusted EBITDA increased 3.5% over Q2 2025, and we opened 23 new clubs.Source: earnings call transcript | +53.3% |
| New club placements | 96We completed 96 new club placements this quarter compared to 77 last year.Source: earnings call transcript | 14We completed 14 new club placements this quarter compared to 10 last year.Source: earnings call transcript | 21We completed 21 new club placements this quarter compared to 19 last year.Source: earnings call transcript | +50% |
| Black Card penetration rate | 66.5%Black Card penetration was 66.5% at the end of the quarter, an all-time high and an increase of 260 basis points from the prior year.Source: earnings call transcript | 67%Black Card penetration was 67% at the end of the quarter, an increase of 240 basis points from the prior year.Source: earnings call transcript | ~68%Black Card penetration was approximately 68% at the end of the quarter, an increase of 210 basis points from the prior year.Source: earnings call transcript | — |
| Average royalty rate | 6.7%For the fourth quarter, the average royalty rate was 6.7%, flat to the prior year.Source: earnings call transcript | 6.7%For the first quarter, the average royalty rate was 6.7%, an increase of 10 basis points from prior year.Source: earnings call transcript | 6.7%For the second quarter, the average royalty rate was 6.7%, which is flat compared to prior year.Source: earnings call transcript | 0 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
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