Revenue up 21.9% on equipment refresh cycle; same-club sales growth slows to 3.5% from 6.2%

Filed May 7, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 9, 2025 · ~1 min read

Key Changes

• high

  Same-club sales growth decelerated sharply to 3.5% from 6.2% prior year across franchisee-owned locations, signaling softer demand at mature clubs with no explanation provided.

  MD&A: Same Club Sales verify on EDGAR →
• high

  Equipment revenue surged 123.4% to $62.1M, driven by $32.0M in replacement sales to existing franchisees—a likely one-time refresh cycle that may not recur.

  MD&A: Equipment Segment verify on EDGAR →
• medium

  Company issued $20.6M in promissory notes to franchisees during the quarter; terms and credit risk undisclosed, potentially indicating franchisee liquidity support.

  MD&A: Cash Flows verify on EDGAR →