Life Time Group Holdings, Inc.(NYSE:LTH) 
Life Time Group Holdings, Inc. provides health, fitness, and wellness experiences to a community of individual members in the United States and Canada. The company primarily engages in designing, building, and operating sports and athletic, professional fitness, family recreation, and spa centers in...
Website: http://www.lifetime.life
Founded: 1992
CEO / Founder: Bahram Akradi
Sector: Consumer Cyclical
Industry: Leisure
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue: | |||||||||||||||||||
center revenue | 767,566,000 | 726,291,000 | 760,897,000 | 735,865,000 | 685,654,000 | 646,384,000 | 674,775,000 | 645,007,000 | 580,485,000 | 546,050,000 | 568,402,000 | 542,125,000 | 497,752,000 | 462,022,000 | 479,995,000 | 445,882,000 | 381,621,000 | 352,944,000 | 372,000,000 |
other revenue | 21,134,000 | 18,805,000 | 21,752,000 | 25,604,000 | 20,387,000 | 16,899,000 | 18,459,000 | 22,754,000 | 16,232,000 | 12,784,000 | 16,775,000 | 19,606,000 | 13,099,000 | 10,633,000 | 16,386,000 | 15,385,000 | 10,633,000 | 7,584,000 | 13,040,000 |
total revenue | 788,700,000 | 745,096,000 | 782,649,000 | 761,469,000 | 706,041,000 | 663,283,000 | 693,234,000 | 667,761,000 | 596,717,000 | 558,834,000 | 585,177,000 | 561,731,000 | 510,851,000 | 472,655,000 | 496,381,000 | 461,267,000 | 392,254,000 | 360,528,000 | 385,040,000 |
yoy | 11.71% | 12.33% | 12.90% | 14.03% | 18.32% | 18.69% | 18.47% | 18.88% | 16.81% | 18.23% | 17.89% | 21.78% | 30.23% | 31.10% | 28.92% | ||||
qoq | 5.85% | -4.80% | 2.78% | 7.85% | 6.45% | -4.32% | 3.81% | 11.91% | 6.78% | -4.50% | 4.17% | 9.96% | 8.08% | -4.78% | 7.61% | 17.59% | 8.80% | -6.37% | |
operating expenses: | |||||||||||||||||||
center operations | 406,704,000 | 379,371,000 | 414,328,000 | 403,925,000 | 370,987,000 | 343,877,000 | 371,134,000 | 355,510,000 | 321,900,000 | 288,257,000 | 319,401,000 | 302,603,000 | 274,109,000 | 253,825,000 | 295,253,000 | 279,557,000 | 239,573,000 | 218,776,000 | 231,996,000 |
rent | 89,891,000 | 87,304,000 | 87,511,000 | 83,190,000 | 81,165,000 | 79,141,000 | 78,575,000 | 74,947,000 | 72,282,000 | 71,926,000 | 69,225,000 | 67,434,000 | 66,537,000 | 66,060,000 | 63,213,000 | 59,989,000 | 55,964,000 | 55,271,000 | 52,513,000 |
general, administrative and marketing | 59,631,000 | 65,250,000 | 59,840,000 | 61,674,000 | 57,847,000 | 61,211,000 | 57,737,000 | 53,246,000 | 48,853,000 | 54,126,000 | 51,668,000 | 52,840,000 | 42,497,000 | 38,326,000 | 57,139,000 | 51,950,000 | 66,561,000 | ||
depreciation and amortization | 80,693,000 | 77,344,000 | 75,094,000 | 72,988,000 | 70,919,000 | 69,613,000 | 69,451,000 | 69,714,000 | 65,903,000 | 64,330,000 | 63,618,000 | 58,252,000 | 58,197,000 | 57,203,000 | 56,400,000 | 57,173,000 | 58,107,000 | 58,119,000 | 57,977,000 |
other operating expense | 16,943,000 | 6,298,000 | 10,231,000 | 31,243,000 | 17,453,000 | 22,466,000 | 22,642,000 | 9,588,000 | 15,722,000 | 21,526,000 | 34,516,000 | 28,194,000 | 2,127,000 | -14,151,250 | -31,358,000 | -8,212,000 | -17,035,000 | ||
total operating expenses | 653,862,000 | 615,567,000 | 647,004,000 | 653,020,000 | 598,371,000 | 576,308,000 | 599,539,000 | 563,005,000 | 524,660,000 | 500,165,000 | 538,428,000 | 509,323,000 | 443,467,000 | 427,664,000 | 440,647,000 | 440,457,000 | 403,170,000 | 698,806,000 | 402,586,000 |
income from operations | 134,838,000 | 129,529,000 | 135,645,000 | 108,449,000 | 107,670,000 | 86,975,000 | 93,695,000 | 104,756,000 | 72,057,000 | 58,669,000 | 46,749,000 | 52,408,000 | 67,384,000 | 44,991,000 | 55,734,000 | 20,810,000 | -10,916,000 | -338,278,000 | -17,546,000 |
yoy | 25.23% | 48.93% | 44.77% | 3.53% | 49.42% | 48.25% | 100.42% | 99.89% | 6.93% | 30.40% | -16.12% | 151.84% | -717.30% | -113.30% | -417.65% | ||||
qoq | 4.10% | -4.51% | 25.08% | 0.72% | 23.79% | -7.17% | -10.56% | 45.38% | 22.82% | 25.50% | -10.80% | -22.22% | 49.77% | -19.28% | 167.82% | -290.64% | -96.77% | 1827.95% | |
operating margin % | 17.10% | 17.38% | 17.33% | 14.24% | 15.25% | 13.11% | 13.52% | 15.69% | 12.08% | 10.50% | 7.99% | 9.33% | 13.19% | 9.52% | 11.23% | 4.51% | -2.78% | -93.83% | -4.56% |
other income: | |||||||||||||||||||
interest expense, net of interest income | -15,697,000 | -16,932,000 | -18,440,000 | -21,784,000 | -25,107,000 | -37,012,000 | -36,011,000 | -37,669,000 | -37,403,000 | -34,548,000 | -33,075,000 | -31,979,000 | -31,195,000 | -28,805,000 | -27,696,000 | -27,093,000 | -29,943,000 | -48,372,000 | -39,849,000 |
equity in earnings of affiliates | 126,000 | 62,000 | 149,000 | 37,000 | -16,000 | -217,000 | -116,000 | -464,000 | 177,000 | ||||||||||
total other expense | -15,571,000 | -8,874,000 | -25,123,000 | -37,229,000 | -36,127,000 | -38,133,000 | -37,226,000 | -34,458,000 | -33,019,000 | -31,891,000 | -31,052,000 | -28,634,000 | -27,601,000 | -27,085,000 | -29,917,000 | -47,969,000 | -39,877,000 | ||
income before income taxes | 119,267,000 | 172,033,000 | 139,348,000 | 99,575,000 | 82,547,000 | 49,746,000 | 57,568,000 | 66,623,000 | 34,831,000 | 24,211,000 | 13,730,000 | 20,517,000 | 36,332,000 | 16,357,000 | 28,133,000 | -6,275,000 | -40,833,000 | -386,247,000 | -57,423,000 |
provision for income taxes | 31,169,000 | 49,033,000 | 36,921,000 | 27,473,000 | 6,405,000 | 12,583,000 | 16,213,000 | 13,818,000 | 9,914,000 | 527,000 | 5,815,000 | 3,513,000 | 8,872,000 | -864,000 | 3,401,000 | ||||
net income | 88,098,000 | 123,000,000 | 102,427,000 | 72,102,000 | 76,142,000 | 37,163,000 | 41,355,000 | 52,805,000 | 24,917,000 | 23,684,000 | 7,915,000 | 17,004,000 | 27,460,000 | 13,726,000 | 24,732,000 | -2,285,000 | -37,966,000 | -304,770,000 | -45,442,000 |
yoy | 15.70% | 230.97% | 147.68% | 36.54% | 205.58% | 56.91% | 422.49% | 210.54% | -9.26% | 72.55% | -68.00% | -844.16% | -172.33% | -104.50% | -154.43% | ||||
qoq | -28.38% | 20.09% | 42.06% | -5.31% | 104.89% | -10.14% | -21.68% | 111.92% | 5.21% | 199.23% | -53.45% | -38.08% | 100.06% | -44.50% | -1182.36% | -93.98% | -87.54% | 570.68% | |
net income margin % | 11.17% | 16.51% | 13.09% | 9.47% | 10.78% | 5.60% | 5.97% | 7.91% | 4.18% | 4.24% | 1.35% | 3.03% | 5.38% | 2.90% | 4.98% | -0.50% | -9.68% | -84.53% | -11.80% |
income per common share: | |||||||||||||||||||
basic | 400 | 560 | 470 | 330 | 360 | 170 | 200 | 270 | 130 | 120 | 40 | 90 | 140 | -20 | 130 | ||||
diluted | 390 | 550 | 450 | 320 | 340 | 170 | 190 | 260 | 120 | 110 | 40 | 80 | 140 | -20 | 120 | ||||
weighted-average common shares outstanding: | |||||||||||||||||||
basic | 221,853,000 | 218,031,000 | 220,063,000 | 219,286,000 | 211,958,000 | 201,640,000 | 202,945,000 | 198,903,000 | 197,498,000 | 195,671,000 | 196,146,000 | 195,476,000 | 194,572,000 | 193,918,000 | |||||
diluted | 227,454,000 | 225,495,000 | 226,007,000 | 225,511,000 | 223,619,000 | 211,164,000 | 214,633,000 | 206,044,000 | 202,756,000 | 204,005,000 | 204,298,000 | 204,821,000 | 202,855,000 | 198,381,000 | |||||
other income | 59,374,000 | 21,994,000 | 12,873,000 | ||||||||||||||||
total other income | 42,504,000 | 3,703,000 | |||||||||||||||||
equity in earnings of affiliate | 71,750 | 56,000 | 88,000 | 143,000 | 32,250 | 95,000 | 8,000 | 26,000 | 403,000 | -28,000 | |||||||||
benefit from income taxes | -3,990,000 | -2,867,000 | -14,716,750 | -11,981,000 | |||||||||||||||
loss per common share – basic and diluted | -10 | -200 | |||||||||||||||||
weighted-average common shares outstanding – basic and diluted | 193,570,000 | 193,692,000 | 192,465,000 | 155,470,000 | |||||||||||||||
general, administrative, and marketing | 31,724,000 | 45,304,000 | |||||||||||||||||
other operating | 12,993,000 | 14,796,000 | |||||||||||||||||
loss per common share—basic and diluted | -500 | -360 | |||||||||||||||||
weighted-average common shares outstanding—basic and diluted | 145,196,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||
current assets: | |||||||||||||||||||
cash and cash equivalents | 119,951,000 | 204,807,000 | 218,897,000 | 175,509,000 | 59,001,000 | 10,879,000 | 120,947,000 | 34,527,000 | 18,598,000 | 29,966,000 | 25,441,000 | 30,858,000 | 35,337,000 | 25,509,000 | 107,069,000 | 61,289,000 | 41,096,000 | 31,637,000 | 44,827,000 |
restricted cash and cash equivalents | 30,232,000 | 27,362,000 | 22,541,000 | 20,740,000 | 18,470,000 | 16,999,000 | 16,106,000 | 14,831,000 | 18,126,000 | ||||||||||
accounts receivable | 25,476,000 | 24,092,000 | 24,370,000 | 25,933,000 | 24,672,000 | 25,087,000 | 26,230,000 | 25,204,000 | 22,854,000 | 23,903,000 | 19,190,000 | 18,146,000 | 16,777,000 | 13,381,000 | 12,281,000 | 10,530,000 | 9,716,000 | 6,464,000 | 8,326,000 |
center operating supplies and inventories | 67,028,000 | 67,618,000 | 70,666,000 | 66,164,000 | 62,484,000 | 60,266,000 | 59,237,000 | 54,539,000 | 53,140,000 | 52,803,000 | 48,557,000 | 48,148,000 | 46,233,000 | 45,655,000 | 44,084,000 | 43,734,000 | 41,966,000 | 41,007,000 | 40,113,000 |
prepaid expenses and other current assets | 80,315,000 | 61,881,000 | 53,630,000 | 64,948,000 | 57,991,000 | 52,826,000 | 41,374,000 | 58,825,000 | 71,000,000 | 57,751,000 | 48,369,000 | 49,595,000 | 58,526,000 | 45,743,000 | 44,829,000 | 56,282,000 | 47,818,000 | 48,883,000 | 35,214,000 |
total current assets | 323,002,000 | 385,760,000 | 410,266,000 | 368,023,000 | 223,808,000 | 170,975,000 | 269,192,000 | 196,079,000 | 191,470,000 | 174,524,000 | 153,272,000 | 153,416,000 | 156,873,000 | 131,036,000 | 208,263,000 | 174,407,000 | 143,061,000 | 131,524,000 | 131,946,000 |
property and equipment | 3,799,840,000 | 3,633,229,000 | 3,456,519,000 | 3,323,067,000 | 3,257,203,000 | 3,193,671,000 | 3,095,145,000 | 3,146,740,000 | 3,234,238,000 | 3,171,616,000 | 3,074,634,000 | 3,030,480,000 | 2,961,992,000 | 2,901,242,000 | 2,772,385,000 | 2,794,332,000 | 2,789,418,000 | 2,791,464,000 | 2,699,104,000 |
goodwill | 1,235,359,000 | 1,235,359,000 | 1,235,359,000 | 1,235,359,000 | 1,235,359,000 | 1,235,359,000 | 1,235,359,000 | 1,235,359,000 | 1,235,359,000 | 1,235,359,000 | 1,235,359,000 | 1,235,029,000 | 1,235,029,000 | 1,233,176,000 | 1,233,176,000 | 1,233,176,000 | 1,233,176,000 | 1,233,176,000 | 1,233,176,000 |
operating lease right-of-use assets | 2,472,648,000 | 2,479,804,000 | 2,449,274,000 | 2,416,320,000 | 2,347,941,000 | 2,313,311,000 | 2,335,206,000 | 2,297,649,000 | 2,183,544,000 | 2,202,601,000 | 2,187,804,000 | 2,161,837,000 | 2,135,203,000 | 2,116,761,000 | 2,148,828,000 | 2,060,368,000 | 1,935,352,000 | 1,864,528,000 | 1,864,246,000 |
intangible assets | 180,532,000 | 180,810,000 | 181,088,000 | 171,241,000 | 171,520,000 | 171,643,000 | 171,917,000 | 172,196,000 | 172,364,000 | 172,127,000 | 172,422,000 | 173,056,000 | 173,063,000 | 173,404,000 | 173,492,000 | 173,425,000 | 173,766,000 | 174,241,000 | 173,604,000 |
other assets | 94,489,000 | 92,989,000 | 94,369,000 | 86,197,000 | 77,253,000 | 67,578,000 | 72,840,000 | 76,230,000 | 76,662,000 | 75,914,000 | 73,572,000 | 74,218,000 | 73,142,000 | 69,744,000 | 65,403,000 | 63,536,000 | 58,667,000 | 61,742,000 | 55,425,000 |
total assets | 8,105,870,000 | 8,007,951,000 | 7,826,875,000 | 7,600,207,000 | 7,313,084,000 | 7,152,537,000 | 7,179,659,000 | 7,124,253,000 | 7,093,637,000 | 7,032,141,000 | 6,897,063,000 | 6,828,036,000 | 6,735,302,000 | 6,625,363,000 | 6,601,547,000 | 6,499,244,000 | 6,333,440,000 | 6,256,675,000 | 6,157,501,000 |
liabilities and stockholders’ equity | |||||||||||||||||||
current liabilities: | |||||||||||||||||||
accounts payable | 92,193,000 | 90,249,000 | 91,758,000 | 90,380,000 | 84,148,000 | 87,810,000 | 70,592,000 | 78,172,000 | 69,063,000 | 81,252,000 | 76,138,000 | 83,721,000 | 65,058,000 | 73,973,000 | 72,951,000 | 75,286,000 | 75,592,000 | 71,308,000 | 71,962,000 |
construction accounts payable | 124,844,000 | 143,545,000 | 134,485,000 | 121,509,000 | 95,310,000 | 101,551,000 | 61,562,000 | 53,070,000 | 81,656,000 | 108,730,000 | 107,955,000 | 120,404,000 | 105,737,000 | 125,031,000 | 118,671,000 | 108,578,000 | 86,038,000 | 83,311,000 | 51,946,000 |
deferred revenue | 63,250,000 | 60,309,000 | 55,782,000 | 60,861,000 | 63,005,000 | 58,252,000 | 48,836,000 | 51,864,000 | 53,217,000 | 49,299,000 | 39,357,000 | 41,303,000 | 42,448,000 | 36,859,000 | 32,296,000 | 41,190,000 | 40,565,000 | 33,871,000 | 28,190,000 |
accrued expenses and other current liabilities | 226,100,000 | 214,351,000 | 229,153,000 | 197,660,000 | 184,270,000 | 179,444,000 | 196,290,000 | 183,625,000 | 161,550,000 | 185,305,000 | 179,382,000 | 170,289,000 | 144,788,000 | 154,427,000 | 167,457,000 | 164,253,000 | 141,175,000 | 147,920,000 | 183,703,000 |
current maturities of debt | 20,705,000 | 21,848,000 | 22,965,000 | 22,873,000 | 22,732,000 | 22,584,000 | 12,439,000 | 12,755,000 | 23,261,000 | 73,848,000 | 64,033,000 | 64,814,000 | 65,585,000 | 15,224,000 | 15,046,000 | 21,727,000 | 23,793,000 | 23,527,000 | 31,841,000 |
current maturities of operating lease liabilities | 81,585,000 | 79,208,000 | 79,252,000 | 75,375,000 | 73,136,000 | 70,462,000 | 67,016,000 | 62,090,000 | 60,772,000 | 58,764,000 | 56,320,000 | 54,793,000 | 52,786,000 | 51,892,000 | 50,746,000 | 48,249,000 | 46,679,000 | 46,315,000 | 44,137,000 |
total current liabilities | 608,677,000 | 609,510,000 | 613,395,000 | 568,658,000 | 522,601,000 | 520,103,000 | 456,735,000 | 441,576,000 | 449,519,000 | 557,198,000 | 523,185,000 | 535,324,000 | 476,402,000 | 457,406,000 | 457,167,000 | 459,283,000 | 413,842,000 | 406,252,000 | 411,779,000 |
long-term debt | 1,482,099,000 | 1,485,939,000 | 1,489,908,000 | 1,493,038,000 | 1,498,106,000 | 1,513,157,000 | 1,639,752,000 | 1,830,241,000 | 1,987,180,000 | 1,859,027,000 | 1,815,965,000 | 1,792,373,000 | 1,824,913,000 | 1,805,698,000 | 1,775,248,000 | 1,807,418,000 | 1,804,082,000 | 1,775,719,000 | 2,331,500,000 |
operating lease liabilities, net of current portion | 2,558,596,000 | 2,555,513,000 | 2,532,962,000 | 2,494,655,000 | 2,418,758,000 | 2,381,094,000 | 2,401,711,000 | 2,374,522,000 | 2,254,736,000 | 2,268,863,000 | 2,248,026,000 | 2,216,647,000 | 2,189,470,000 | 2,162,424,000 | 2,206,753,000 | 2,094,104,000 | 1,971,743,000 | 1,909,883,000 | 1,902,784,000 |
deferred income taxes | 182,122,000 | 172,217,000 | 146,055,000 | 105,363,000 | 86,431,000 | 85,255,000 | 77,657,000 | 68,440,000 | 61,962,000 | 56,066,000 | 57,377,000 | 47,347,000 | 47,731,000 | 41,393,000 | 43,941,000 | 46,143,000 | 51,391,000 | 55,213,000 | 131,655,000 |
other liabilities | 55,105,000 | 58,561,000 | 59,203,000 | 69,250,000 | 52,717,000 | 42,578,000 | 42,004,000 | 41,977,000 | 37,381,000 | 36,875,000 | 35,621,000 | 35,633,000 | 34,749,000 | 34,181,000 | 13,265,000 | 13,639,000 | 15,382,000 | 18,216,000 | 25,027,000 |
total liabilities | 4,886,599,000 | 4,881,740,000 | 4,841,523,000 | 4,730,964,000 | 4,578,613,000 | 4,542,187,000 | 4,617,859,000 | 4,756,756,000 | 4,790,778,000 | 4,778,029,000 | 4,680,174,000 | 4,627,324,000 | 4,573,265,000 | 4,501,102,000 | 4,496,374,000 | 4,420,587,000 | 4,256,440,000 | 4,165,283,000 | 4,802,745,000 |
commitments and contingencies | |||||||||||||||||||
stockholders’ equity: | |||||||||||||||||||
common stock, 0.01 par value per share... | 2,225,000 | 2,211,000 | 2,203,000 | 2,199,000 | 2,179,000 | 2,075,000 | 2,066,000 | 1,990,000 | 1,988,000 | 1,967,000 | 1,962,000 | 1,960,000 | 1,950,000 | 1,943,000 | 1,940,000 | 1,938,000 | 1,931,000 | 1,931,000 | 1,452,000 |
additional paid-in capital | 3,184,562,000 | 3,183,032,000 | 3,164,932,000 | 3,148,712,000 | 3,089,455,000 | 3,041,645,000 | 3,025,445,000 | 2,873,839,000 | 2,861,359,000 | 2,835,883,000 | 2,824,949,000 | 2,814,424,000 | 2,794,657,000 | 2,784,416,000 | 2,780,190,000 | 2,772,393,000 | 2,765,503,000 | 2,743,560,000 | 1,548,904,000 |
retained earnings | 41,196,000 | ||||||||||||||||||
accumulated other comprehensive loss | -8,712,000 | -12,130,000 | -11,881,000 | -9,339,000 | -12,732,000 | -12,797,000 | -7,975,000 | -9,241,000 | -8,592,000 | -6,925,000 | -9,525,000 | -7,260,000 | -9,154,000 | -9,222,000 | -10,355,000 | -4,340,000 | -1,385,000 | -3,016,000 | -2,907,000 |
total stockholders’ equity | 3,219,271,000 | 3,126,211,000 | 2,985,352,000 | 2,869,243,000 | 2,734,471,000 | 2,610,350,000 | 2,561,800,000 | 2,367,497,000 | 2,302,859,000 | 2,254,112,000 | 2,216,889,000 | 2,200,712,000 | 2,162,037,000 | 2,124,261,000 | 2,105,173,000 | 2,078,657,000 | 2,077,000,000 | 2,091,392,000 | 1,201,136,000 |
total liabilities and stockholders’ equity | 8,105,870,000 | 8,007,951,000 | 7,826,875,000 | 7,600,207,000 | 7,313,084,000 | 7,152,537,000 | 7,179,659,000 | 7,124,253,000 | 7,093,637,000 | 7,032,141,000 | 6,897,063,000 | 6,828,036,000 | 6,735,302,000 | 6,625,363,000 | 6,601,547,000 | 6,499,244,000 | 6,333,440,000 | 6,256,675,000 | |
income tax receivable | 20,162,000 | 14,729,000 | 1,190,000 | 4,918,000 | 5,298,000 | 8,153,000 | 7,752,000 | 10,101,000 | 11,715,000 | 6,669,000 | 748,000 | 2,572,000 | 2,465,000 | 3,533,000 | 3,466,000 | ||||
accumulated deficit | -46,902,000 | -169,902,000 | -272,329,000 | -344,431,000 | -420,573,000 | -457,736,000 | -499,091,000 | -551,896,000 | -576,813,000 | -600,497,000 | -608,412,000 | -625,416,000 | -652,876,000 | -666,602,000 | -691,334,000 | -689,049,000 | -651,083,000 | ||
stockholder note receivable | |||||||||||||||||||
liabilities, mezzanine equity and stockholders’ equity | |||||||||||||||||||
current liabilities | |||||||||||||||||||
mezzanine equity: | |||||||||||||||||||
series a convertible participating preferred stock, 0.01 par value per share... | 153,620,000 | ||||||||||||||||||
retained deficit | -346,313,000 | ||||||||||||||||||
total liabilities, mezzanine equity and stockholders’ equity | 6,157,501,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||||
net income | 88,098,000 | 123,000,000 | 102,427,000 | 72,102,000 | 76,142,000 | 37,163,000 | 41,355,000 | 52,805,000 | 24,917,000 | 23,684,000 | 7,915,000 | 17,004,000 | 27,460,000 | |||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||
depreciation and amortization | 80,693,000 | 77,344,000 | 75,094,000 | 72,988,000 | 70,919,000 | 69,613,000 | 69,451,000 | 69,714,000 | 65,903,000 | 64,330,000 | 63,618,000 | 58,252,000 | 58,197,000 | 57,203,000 | 56,400,000 | 57,173,000 | 58,107,000 | 58,119,000 |
deferred income taxes | 8,429,000 | 26,574,000 | 41,425,000 | 18,316,000 | 1,177,000 | 7,764,000 | 9,188,000 | 6,509,000 | 5,996,000 | -1,417,000 | 10,130,000 | -469,000 | 6,333,000 | -2,603,000 | -1,948,000 | -5,124,000 | -3,885,000 | -76,474,000 |
share-based compensation | 10,548,000 | 6,571,000 | 16,891,000 | 16,379,000 | 11,909,000 | 20,584,000 | 11,752,000 | 11,072,000 | 7,626,000 | 13,115,000 | 14,858,000 | 16,549,000 | 5,622,000 | 4,077,000 | 5,803,000 | 5,973,000 | 21,438,000 | 327,380,000 |
non-cash rent expense | 2,354,000 | 3,621,000 | 15,813,000 | 9,660,000 | 3,403,000 | 8,558,000 | 11,531,000 | 7,692,000 | 5,958,000 | 10,644,000 | 9,270,000 | 8,602,000 | 9,028,000 | 11,230,000 | 11,669,000 | 9,626,000 | 6,009,000 | 11,056,000 |
impairment charges associated with long-lived assets | 18,000 | 8,059,000 | 116,000 | 211,000 | 966,000 | 8,077,000 | 1,521,000 | 7,846,000 | 5,340,000 | 1,909,000 | 227,000 | -379,000 | ||||||
loss on disposal of property and equipment | 827,000 | -17,118,000 | -7,670,000 | 12,495,000 | 128,000 | -246,000 | 4,519,000 | -11,312,000 | 245,000 | 347,000 | 12,838,000 | -1,476,000 | -48,755,000 | -21,146,000 | -28,597,000 | -769,000 | ||
amortization of debt discounts and issuance costs | 930,000 | 930,000 | 917,000 | 906,000 | 906,000 | 1,111,000 | 1,885,000 | 2,003,000 | 2,003,000 | 1,959,000 | 1,943,000 | 1,953,000 | 1,966,000 | 1,975,000 | 1,980,000 | 1,973,000 | 1,945,000 | |
changes in operating assets and liabilities | 5,526,000 | 10,911,000 | 6,476,000 | -5,826,000 | 17,926,000 | 593,000 | -3,848,000 | 29,462,000 | -23,820,000 | 10,872,000 | -11,141,000 | 30,384,000 | -23,650,000 | -10,683,000 | -3,854,000 | 23,547,000 | -5,638,000 | -30,897,000 |
other | 1,370,000 | -33,000 | -377,000 | -1,533,000 | 380,000 | -405,000 | 282,000 | 1,058,000 | 1,579,000 | 678,000 | -116,000 | 791,000 | -3,915,000 | 291,000 | -1,185,000 | 1,753,000 | -2,578,000 | -45,000 |
net cash from operating activities | 198,793,000 | 239,859,000 | 251,112,000 | 195,698,000 | 183,856,000 | 163,141,000 | 151,146,000 | 170,423,000 | 90,407,000 | 132,058,000 | 114,655,000 | 141,943,000 | 74,348,000 | 75,649,000 | 44,995,000 | 71,263,000 | 9,062,000 | -4,707,000 |
cash flows from investing activities: | ||||||||||||||||||
capital expenditures | -260,016,000 | -304,503,000 | -222,494,000 | -222,004,000 | -142,482,000 | -136,322,000 | -87,106,000 | -144,306,000 | -156,801,000 | -168,106,000 | -188,720,000 | -166,262,000 | -170,814,000 | -181,232,000 | -157,306,000 | -141,886,000 | -110,754,000 | -127,168,000 |
free cash flows | -61,223,000 | -64,644,000 | 28,618,000 | -26,306,000 | 41,374,000 | 26,819,000 | 64,040,000 | 26,117,000 | -66,394,000 | -36,048,000 | -74,065,000 | -24,319,000 | -96,466,000 | -105,583,000 | -112,311,000 | -70,623,000 | -101,692,000 | -131,875,000 |
net cash from investing activities | -260,112,000 | -249,652,000 | -205,432,000 | -89,008,000 | -141,643,000 | -130,641,000 | -7,822,000 | 4,307,000 | -158,588,000 | -170,611,000 | -144,051,000 | -122,647,000 | -136,851,000 | -206,062,000 | 40,222,000 | -51,419,000 | -26,283,000 | -131,729,000 |
cash flows from financing activities: | ||||||||||||||||||
repayments of debt | -5,686,000 | -5,788,000 | -3,128,000 | -5,605,000 | -5,559,000 | -3,154,000 | -340,965,000 | -13,530,000 | -54,117,000 | -3,824,000 | -3,772,000 | -3,729,000 | -3,701,000 | -3,651,000 | -10,454,000 | -5,794,000 | -5,745,000 | -575,840,000 |
proceeds from revolving credit facility | 0 | 0 | 95,000,000 | 125,000,000 | 180,000,000 | 375,000,000 | 225,000,000 | 445,000,000 | 390,000,000 | 366,000,000 | 275,000,000 | 345,000,000 | 95,000,000 | 290,000,000 | ||||
repayments of revolving credit facility | 0 | 0 | -95,000,000 | -135,000,000 | -380,000,000 | -230,000,000 | -380,000,000 | -315,000,000 | -345,000,000 | -341,000,000 | -340,000,000 | -280,000,000 | -75,000,000 | -320,000,000 | ||||
repayments of finance lease liabilities | -417,000 | -402,000 | -383,000 | -379,000 | -842,000 | -300,000 | -223,000 | -210,000 | -193,000 | -260,000 | -263,000 | -264,000 | -244,000 | -361,000 | -346,000 | -339,000 | -358,000 | -381,000 |
proceeds from stock option exercises | 7,328,000 | 4,871,000 | 3,750,000 | 5,986,000 | 27,880,000 | 6,385,000 | 18,058,000 | 1,006,000 | 484,000 | 873,000 | 1,621,000 | 9,820,000 | 3,456,000 | 565,000 | 1,996,000 | |||
common stock share repurchases | -10,702,000 | |||||||||||||||||
employee tax withholding associated with net share-settled share-based awards | -11,017,000 | |||||||||||||||||
net cash from financing activities | -20,498,000 | 462,000 | -365,000 | 11,911,000 | 7,380,000 | -141,637,000 | -55,646,000 | -162,077,000 | 74,975,000 | 43,047,000 | 24,085,000 | -23,905,000 | 72,325,000 | 48,506,000 | -38,847,000 | 520,000 | 26,619,000 | 123,270,000 |
effect of exchange rates on cash and cash equivalents and restricted cash and cash equivalents | -169,000 | -126,000 | 17,000 | -19,000 | -36,000 | |||||||||||||
increase in cash and cash equivalents and restricted cash and cash equivalents | -81,986,000 | -9,269,000 | 45,189,000 | 118,778,000 | 49,593,000 | -109,175,000 | 87,695,000 | 12,634,000 | 6,758,000 | |||||||||
cash and cash equivalents and restricted cash and cash equivalents – beginning of period | 232,169,000 | 0 | 0 | 0 | 27,878,000 | 0 | 0 | 0 | 29,966,000 | |||||||||
cash and cash equivalents and restricted cash and cash equivalents – end of period | 150,183,000 | -9,269,000 | 45,189,000 | 118,778,000 | 77,471,000 | -109,175,000 | 87,695,000 | 12,634,000 | 36,724,000 | |||||||||
loss on debt extinguishment | 0 | |||||||||||||||||
acquisitions, net of cash acquired | -390,000 | |||||||||||||||||
proceeds from sale-leaseback transactions | 54,741,000 | 33,912,000 | -293,000 | 65,043,000 | 0 | 43,791,000 | 45,364,000 | 32,676,000 | -21,601,000 | 199,205,000 | 94,580,000 | 79,666,000 | 0 | |||||
proceeds from the sale of land | 0 | 9,249,000 | ||||||||||||||||
proceeds from borrowings | 0 | 0 | 36,375,000 | 7,916,000 | 11,427,000 | 0 | 5,459,000 | 3,198,000 | 0 | |||||||||
purchase of u.s. government obligations for the satisfaction and discharge of debt | ||||||||||||||||||
proceeds from financing obligations | 0 | 0 | 0 | 0 | 0 | |||||||||||||
payments of debt discounts and issuance costs | 0 | -20,452,000 | -500,000 | 0 | ||||||||||||||
proceeds from the issuance of common stock, net of issuance costs | -393,000 | |||||||||||||||||
proceeds from issuances of common stock in connection with the employee stock purchase plan | 2,415,000 | 0 | 1,356,000 | 0 | 2,029,000 | 0 | ||||||||||||
effect of exchange rate on cash and cash equivalents and restricted cash and cash equivalents | ||||||||||||||||||
write-off of debt discounts and issuance costs | ||||||||||||||||||
effect of exchange rate on cash and cash equivalents | ||||||||||||||||||
increase in cash and cash equivalents | 4,525,000 | -5,417,000 | -4,479,000 | 9,828,000 | 45,780,000 | 20,193,000 | 9,459,000 | -13,190,000 | ||||||||||
cash and cash equivalents – beginning of period | 0 | 0 | 0 | 25,509,000 | 0 | 0 | 0 | 31,637,000 | ||||||||||
cash and cash equivalents – end of period | 4,525,000 | -5,417,000 | -4,479,000 | 35,337,000 | -81,560,000 | 45,780,000 | 20,193,000 | 41,096,000 | ||||||||||
effect of exchange rates on cash and cash equivalents | -106,000 | 130,000 | 6,000 | -590,000 | -171,000 | 61,000 | ||||||||||||
gain on disposal of property and equipment | -6,693,000 | |||||||||||||||||
net loss | 13,726,000 | 24,732,000 | -2,285,000 | -37,966,000 | ||||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | ||||||||||||||||||
proceeds from the sale of land held for sale | ||||||||||||||||||
increase in debt discounts and issuance costs | 0 | -2,435,000 | ||||||||||||||||
decrease in cash and cash equivalents | ||||||||||||||||||
write-off of discounts and debt issuance costs | 10,243,000 | |||||||||||||||||
proceeds from senior secured credit facility | 230,000,000 | 25,000,000 | ||||||||||||||||
repayments of senior secured credit facility | -200,000,000 | |||||||||||||||||
amortization of debt issuance costs | ||||||||||||||||||
repayments on senior secured credit facility | ||||||||||||||||||
purchases of stock options | ||||||||||||||||||
amortization of discounts and debt issuance costs | ||||||||||||||||||
deposit associated with a pending sale-leaseback transaction | ||||||||||||||||||
proceeds from the issuance of common stock | ||||||||||||||||||
cash and cash equivalents—beginning of period | ||||||||||||||||||
cash and cash equivalents—end of period |