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Get filing alertsPlanet Fitness cuts 2026 guidance on weak membership growth, pauses Black Card price hike
Filed May 7, 2026 · Period ending May 7, 2026 · ~1 min read
Key Changes
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high
Full-year guidance slashed: same-club sales growth cut from 4-5% to ~1%, revenue growth from 9% to 7%, Adjusted EBITDA growth from 10% to 6%, and Adjusted net income now expected to decline 2% vs. prior forecast of 4-5% increase.
Exhibit 99.1 view on EDGAR → -
high
Company paused planned national Black Card price increase pending broader pricing review, citing lower-than-expected membership sign-ups during Q1 peak season.
Exhibit 99.1 view on EDGAR → -
high
Q1 2026 revenue rose 21.9% to $337.2 million with net income of $51.6 million ($0.65 per share) vs. $41.9 million ($0.50 per share) prior year; membership reached 21.5 million.
Exhibit 99.1 view on EDGAR → -
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Equipment segment revenue surged 123.4% to $62.1 million, driven by $32.0 million in higher sales to existing franchisee clubs and $2.3 million to new clubs.
Exhibit 99.1 view on EDGAR → -
medium
Repurchased 613,725 Class A shares for $50.0 million in Q1; updated full-year guidance reflects expected diluted shares outstanding of ~79.0 million vs. 80.0 million previously.
Exhibit 99.1 view on EDGAR →
Summary
Management cut same-club sales growth expectations from 4-5% to approximately 1% and now projects Adjusted net income will decline 2% for the year versus the prior forecast of 4-5% growth. The company also paused a planned national price increase for its premium Black Card tier pending a broader pricing review, a decision that directly impacts revenue projections.
For retail holders, the guidance cut signals execution challenges in a competitive fitness market where Planet Fitness is struggling to capture demand despite its low-cost positioning. The decision to pause pricing suggests management is prioritizing membership volume over near-term revenue optimization, but the Q1 shortfall raises questions about whether the company can reverse the trend. The equipment segment's 123% revenue surge to $62.1 million provides some offset, driven by franchisee club upgrades, though this is a smaller part of the business. Investors should watch whether Q2 membership trends stabilize and whether the pricing review leads to a differentiated strategy or further delays.
Section-by-Section Diff
Event · Exhibit 99.1
Planet Fitness reported Q1 2026 results with revenue up 21.9% but lowered full-year guidance due to slower membership growth and paused Black Card price increase.
Added in current filing · view on EDGAR → · paraphrased
Total revenue increased from the prior year period by 21.9% to $337.2 million. ... System-wide same club sales increased 3.5%. ... Ended first quarter with total membership of approximately 21.5 million ... Net income attributable to Planet Fitness, Inc. was $51.6 million, or $0.65 per diluted share, compared to $41.9 million, or $0.50 per diluted share, in the prior year period. ... Adjusted EBITDA increased $22.9 million to $139.9 million from $117.0 million in the prior year period.
Planet Fitness reported strong Q1 2026 financial results with revenue growing 21.9% to $337.2 million and net income rising to $51.6 million ($0.65 per diluted share) from $41.9 million ($0.50 per diluted share) in Q1 2025. System-wide same club sales increased 3.5%, and the company ended the quarter with approximately 21.5 million members. Adjusted EBITDA grew $22.9 million to $139.9 million.
Added in current filing · view on EDGAR →
Additionally we are pausing the planned national Black Card price increase pending a broader pricing review
The CEO announced that Planet Fitness is pausing a planned national price increase for its Black Card membership tier pending a broader pricing review. This decision, combined with slower membership growth, contributed to the lowered 2026 guidance. The company stated it is sharpening its marketing to prioritize capturing demand and driving net member growth.
Added in current filing · view on EDGAR →
Equipment segment revenue increased $34.3 million or 123.4% to $62.1 million from $27.8 million in the prior year period. This increase was primarily attributable to $32.0 million of higher revenue from equipment sales to existing franchisee-owned clubs and $2.3 million of higher revenue from equipment sales to new franchisee-owned clubs.
Planet Fitness's equipment segment revenue more than doubled in Q1 2026, increasing 123.4% to $62.1 million from $27.8 million in the prior year. The growth was driven by $32.0 million in higher equipment sales to existing franchisee-owned clubs and $2.3 million from sales to new clubs. Equipment Segment Adjusted EBITDA increased $12.0 million to $19.5 million.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 1, 2026 · How we verify