Planet Fitness Reports 17.3 Percent Q2 2017 Growth, Opens New Hampton HQ

Planet Fitness, Hampton, New Hampshire, reported a 17.3 percent increase in second-quarter revenue to $107.3 million, according to financials released Aug. 9. The company also kicked off its third quarter by opening its new world headquarters in Hampton, replacing its former offices in nearby Newington.

The company's system-wide same-store sales grew 9 percent during the quarter, while net income stayed steady at $18 million. Additionally, adjusted EBITDA increased 30.3 percent to $47.9 million.

The company saw across-the-board revenue growth in its equipment segment (15.8 percent), franchise segment (28.2 percent) and corporate-owned store segment (7.2 percent).

"We had a great second quarter driven by our relentless commitment to reaching more and more casual and first time gym users with our welcoming, non-intimidating fitness offering," CEO Chris Rondeau said in a media release. "Through our franchisees' new store openings along with over $100 million spent annually on national and local advertising programs, we continue to build on our leadership position by capturing additional market share as well as bringing new consumers into the fitness industry."

Also in the release, Rondeau praised the company's franchise segment and its "asset-light" business model.

"I am confident that our compelling concept and powerful brand recognition combined with unmatched system-wide leadership and resources will allow us to capitalize on opportunities that drive long-term value for our shareholders," he said.

On July 27, Planet Fitness executives and staff held a ribbon-cutting ceremony for the company's new 70,000-square-foot headquarters located on Liberty Lane West in Hampton. The facility features a 4,000-square-foot private fitness center and a cafeteria for its 200 employees. Club Industry first reported on the company's move from Newington to Hampton in November 2016.

Planet Fitness opened 37 new clubs during the quarter, bumping its total location count to 1,403.

Planet Fitness ranked No. 7 on Club Industry's Top 100 Health Clubs of 2017. The company reported $378.20 million in 2016 earnings, a 14 percent increase from 2015.