Life Time Group Holdings Inc
Q4 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: −6.15%.
Did LTH Beat Earnings? Q4 2025 Results
Life Time Group Holdings capped fiscal 2025 with a strong fourth quarter, posting earnings per share of $0.34 against a consensus estimate of $0.27, a beat of 25.93%, while revenue of $745.10 million edged past the $741.36 million estimate and grew 12.3% year-over-year. The headline profit figure was materially lifted by one-time items, including a partial COVID-19 insurance settlement and employee retention credits, but even stripping those out, adjusted net income rose 28.4% to $77.40 million and adjusted EBITDA climbed 14.5% to $202.60 million, reflecting durable momentum in membership dues and Dynamic Personal Training revenue. For the full year, adjusted EBITDA reached $825.20 million, up 21.9%, with margin expanding to 27.5%. The company's net debt leverage ratio improved to 1.6x from 2.3x a year ago, and the board authorized a $500 million share repurchase program, a combination that analysts have interpreted as management signaling confidence in the business while continuing to fund an accelerated club opening slate. Looking ahead, Life Time guided fiscal 2026 revenue of $3.30 to $3.33 billion and adjusted EBITDA of $910 to $925 million, with 12 to 14 new clubs planned.
- Increased membership dues and average dues per membership
- Strong in-center revenue growth, particularly Dynamic Personal Training
- Membership growth in new and ramping centers
- Higher member utilization of in-center offerings
- Average center revenue per center membership grew 10.8% to $882 in Q4
- Comparable center revenue growth of 9.9% in Q4 and 11.1% for the full year
- Net debt leverage ratio improved to 1.6x from 2.3x
“I am proud of how our team delivered throughout 2025. With higher member engagement, increased dues per membership, and robust in‑center revenue growth, we delivered another year of record financial performance. We enter 2026 with strong fundamentals and a clear plan to expand the number of our large‑format athletic country clubs. We expect to add nearly as much new square footage in 2026 as we opened in the past two years combined. We remain focused on growing revenue and adjusted EBITDA by further increasing member engagement, optimizing our membership mix, and growing revenue per center membership.”
Life Time Group Holdings CEO, on the earnings call
Forward Guidance & Outlook
For fiscal 2026, Life Time guides total revenue of $3,300–$3,330 million (approximately 10.7% growth at midpoint), net income of $330–$336 million, adjusted net income of $369–$378 million, and adjusted EBITDA of $910–$925 million. The company expects to open 12–14 new clubs, most of which will be large-format ground-up construction, with approximately 1.2 million square feet of total new space — nearly double the square footage of each of the 2024 and 2025 club classes. The majority of 2026 openings are expected in the back half of the year, including six to seven in Q4. Comparable center revenue growth is expected at 6.3%–7.3%. Interest expense, net of interest income, is guided at approximately $56–$60 million. The company expects to complete at least $300 million of sale-leaseback transactions and maintain its net debt to adjusted EBITDA leverage ratio at or below 2.0x. Year-end weighted-average diluted shares outstanding are expected at approximately 229–231 million. The 2026 guidance excludes any impact from the $500 million share buyback program.
LTH YoY Financials
LTH Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.