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Planet Fitness’s $337 Million Quarter: Can Profit Growth Outrun Member Softness?

Planet Fitness Incorporated reported first quarter results reflecting mixed operational and financial performance amid a challenging market environment. The company added over 700,000 net new members during the quarter, which was below internal expectations and the prior year’s quarterly membership gains. System-wide same club sales grew 3.5%, driven primarily by rate increases, with approximately 90% of the comp increase attributed to pricing rather than volume growth. Adjusted EBITDA rose 19.5% year-over-year to $140 million, corresponding to a margin of 41.5% compared to 42.3% in the prior year period. The company opened 15 new clubs in the quarter, fewer than the 19 openings in Q1 2025. Planet Fitness cited several factors for the softer-than-expected membership growth, including a marketing strategy shift that targeted a more fitness-minded consumer at the expense of its core demographic of fitness beginners and casual gym goers.