Business Context and Reporting Period
Xponential Fitness, Inc. (XPOF) filed a Form 8-K on March 13, 2025, to announce financial results for the quarter and fiscal year ended December 31, 2024. The company operates as an emerging growth company and is incorporated in Delaware.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are contained within the press release furnished as Exhibit 99.1, which is referenced but not included in the provided text.
Material Changes and Restatement
A material change involves the restatement of the Company's financial statements for the fiscal year ended December 31, 2023. The Board of Directors, upon recommendation by the Audit Committee, determined that the previously issued 2023 Annual Report (Form 10-K) and the related audit report should no longer be relied upon. The company expects to file corrected numbers in its upcoming 2024 Annual Report, planned for filing on March 14, 2025.
Guidance, Outlook, and Risks
The filing does not contain specific guidance, outlook, or management commentary beyond the announcement of the results and the restatement. The primary risk disclosed is the non-reliance on previously issued financial statements for the 2023 fiscal year due to the required restatement.
Investor Verification Checklist
- Review the press release (Exhibit 99.1) for specific Q4 and full-year 2024 financial results.
- Monitor the upcoming Form 10-K for the year ended December 31, 2024, expected March 14, 2025, for corrected 2023 financial data.
- Verify the nature of the accounting adjustments necessitating the 2023 restatement once disclosed in the corrected filing.
- Confirm the impact of the restatement on prior period comparability for the 2024 results.