Consumer Discretionary › Services-Membership Sports And Recreation Clubs
PLNT Stock Price Correlated With Planet Fitness Financials
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Income Statement
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Balance Sheet
PLNT Income Statement
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PLNT Cash Flow
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PLNT Balance Sheet
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COMPANY PROFILE
Business organization Planet Fitness, Inc. (the “Company”), through its subsidiaries, is a franchisor and operator of fitness centers, with approximately 15.2 million members and 2,254 owned and franchised locations (referred to as stores) in all 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia as of December 31, 2021.
The Company serves as the reporting entity for its various subsidiaries that operate three distinct lines of business:
• Licensing and selling franchises under the Planet Fitness trade name;
• Owning and operating fitness centers under the Planet Fitness trade name; and
• Selling fitness-related equipment to franchisee-owned stores.
In 2012 investment funds affiliated with TSG Consumer Partners, LLC (“TSG”), purchased interests in Pla-Fit Holdings.
The Company was formed as a Delaware corporation on March 16, 2015 for the purpose of facilitating an initial public offering (the “IPO”) and related transactions in order to carry on the business of Pla-Fit Holdings, LLC and its subsidiaries (“Pla-Fit Holdings”). As of August 5, 2015, in connection with the recapitalization transactions, the Company became the sole managing member and holder of 100% of the voting power of Pla-Fit Holdings. Pla-Fit Holdings owns 100% of Planet Intermediate, LLC which has no operations but is the 100% owner of Planet Fitness Holdings, LLC, a franchisor and operator of fitness centers. With respect to the Company, Pla-Fit Holdings and Planet Intermediate, LLC, each entity owns nothing other than the respective entity below it in the corporate structure and each entity has no other material operations.
The Company is a holding company whose principal asset is a controlling equity interest in Pla-Fit Holdings. As the sole managing member of Pla-Fit Holdings, the Company operates and controls all of the business and affairs of Pla-Fit Holdings, and through Pla-Fit Holdings, conducts its business. As a result, the Company consolidates Pla-Fit Holdings’ financial results and reports a non-controlling interest related to the portion of Holdings Units not owned by the Company.
During the years ended December 31, 2021, 2020 and 2019, certain Continuing LLC Owners have exercised their exchange rights and exchanged 622,979, 4,839,866 and 885,810 Holdings Units, respectively, for 622,979, 4,839,866 and 885,810 newly-issued shares of Class A common stock, respectively. Simultaneously, and in connection with these exchanges, 622,979, 4,839,866 and 885,810 shares of Class B common stock were surrendered by the Continuing LLC Owners that exercised their exchange rights and canceled during the years ended December 31, 2021, 2020 and 2019, respectively. Additionally, in connection with these exchanges, Planet Fitness, Inc. received 622,979, 4,839,866 and 885,810 Holdings Units during the years ended December 31, 2021, 2020 and 2019, respectively, increasing its total ownership interest in Pla-Fit Holdings.
As of December 31, 2021, the Company held 100% of the voting interest, and approximately 96.5% of the economic interest in Pla-Fit Holdings and the Continuing LLC Owners held the remaining 3.5% economic interest in Pla-Fit Holdings. As future exchanges of Holdings Units occur, the economic interest in Pla-Fit Holdings held by Planet Fitness, Inc. will increase.
The Company serves as the reporting entity for its various subsidiaries that operate three distinct lines of business:
• Licensing and selling franchises under the Planet Fitness trade name;
• Owning and operating fitness centers under the Planet Fitness trade name; and
• Selling fitness-related equipment to franchisee-owned stores.
In 2012 investment funds affiliated with TSG Consumer Partners, LLC (“TSG”), purchased interests in Pla-Fit Holdings.
The Company was formed as a Delaware corporation on March 16, 2015 for the purpose of facilitating an initial public offering (the “IPO”) and related transactions in order to carry on the business of Pla-Fit Holdings, LLC and its subsidiaries (“Pla-Fit Holdings”). As of August 5, 2015, in connection with the recapitalization transactions, the Company became the sole managing member and holder of 100% of the voting power of Pla-Fit Holdings. Pla-Fit Holdings owns 100% of Planet Intermediate, LLC which has no operations but is the 100% owner of Planet Fitness Holdings, LLC, a franchisor and operator of fitness centers. With respect to the Company, Pla-Fit Holdings and Planet Intermediate, LLC, each entity owns nothing other than the respective entity below it in the corporate structure and each entity has no other material operations.
The Company is a holding company whose principal asset is a controlling equity interest in Pla-Fit Holdings. As the sole managing member of Pla-Fit Holdings, the Company operates and controls all of the business and affairs of Pla-Fit Holdings, and through Pla-Fit Holdings, conducts its business. As a result, the Company consolidates Pla-Fit Holdings’ financial results and reports a non-controlling interest related to the portion of Holdings Units not owned by the Company.
During the years ended December 31, 2021, 2020 and 2019, certain Continuing LLC Owners have exercised their exchange rights and exchanged 622,979, 4,839,866 and 885,810 Holdings Units, respectively, for 622,979, 4,839,866 and 885,810 newly-issued shares of Class A common stock, respectively. Simultaneously, and in connection with these exchanges, 622,979, 4,839,866 and 885,810 shares of Class B common stock were surrendered by the Continuing LLC Owners that exercised their exchange rights and canceled during the years ended December 31, 2021, 2020 and 2019, respectively. Additionally, in connection with these exchanges, Planet Fitness, Inc. received 622,979, 4,839,866 and 885,810 Holdings Units during the years ended December 31, 2021, 2020 and 2019, respectively, increasing its total ownership interest in Pla-Fit Holdings.
As of December 31, 2021, the Company held 100% of the voting interest, and approximately 96.5% of the economic interest in Pla-Fit Holdings and the Continuing LLC Owners held the remaining 3.5% economic interest in Pla-Fit Holdings. As future exchanges of Holdings Units occur, the economic interest in Pla-Fit Holdings held by Planet Fitness, Inc. will increase.
Free historical financial statements for Planet Fitness Inc. See how revenue, income, cash flow, and balance sheet financials have changed over 34 quarters since 2016. Compare with PLNT stock chart to see long term trends.
Data imported from Planet Fitness Inc SEC filings. Check original filings before making any investment decision.