Planet Fitness How Its Black Card Strategy Is Becoming a Powerful Revenue Engine — And What Happens After the 2026 Price Hike?

Planet Fitness delivered a quarter marked by solid operational execution, meaningful membership stability, and continued progress against its strategic priorities, while also navigating persistent churn dynamics and the normalization of rate-driven revenue growth. The company ended the period with approximately 20.7 million members, in line with internal expectations, and system-wide same-club sales growth of 6.9%, driven primarily by rate increases and balanced by modest net membership gains. Member engagement trends were favorable, supported by higher utilization rates and strong participation in the High School Summer Pass program. Franchisees continued investing in new formats and strength-focused equipment, contributing to equipment segment outperformance. However, attrition remained elevated on a year-over-year basis, although trending toward historical norms by late Q3. Rate-related uplift is also expected to diminish as pricing anniversaries cycle through the membership base.