PLANET FITNESS, INC., 10-Q filed on 8/6/2026
Quarterly Report
v3.26.1
Cover - shares
 6 Months Ended
Jun. 30, 2026
Jul. 31, 2026
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2026  
Document Transition Report false  
Entity File Number 001-37534  
Entity Registrant Name PLANET FITNESS, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 38-3942097  
Entity Address, Address Line One 4 Liberty Lane West  
Entity Address, City or Town Hampton  
Entity Address, State or Province NH  
Entity Address, Postal Zip Code 03842  
City Area Code 603  
Local Phone Number 750-0001  
Title of 12(b) Security Class A common stock, $0.0001 Par Value  
Trading Symbol PLNT  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Amendment Flag false  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q2  
Entity Central Index Key 0001637207  
Current Fiscal Year End Date --12-31  
Class A common stock    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   75,216,965
Class B common stock    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   316,128
v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 298,265 $ 345,652
Restricted cash 72,945 66,304
Short-term marketable securities 102,493 106,761
Accounts receivable, net of allowances for uncollectible amounts of $35 and $428 as of June 30, 2026 and December 31, 2025, respectively 65,618 70,431
Inventory 9,221 7,581
Restricted assets - national advertising fund 9,556 0
Prepaid expenses 24,686 24,605
Other receivables 43,513 34,094
Income tax receivable and prepayments 1,790 2,958
Total current assets 628,087 658,386
Long-term marketable securities 70,671 88,263
Investments, net of allowance for expected credit losses of $25,447 and $24,424 as of June 30, 2026 and December 31, 2025, respectively 56,500 69,700
Property and equipment, net of accumulated depreciation of $509,156 and $453,852, as of June 30, 2026 and December 31, 2025, respectively 466,465 466,747
Right-of-use assets, net 404,678 409,320
Intangible assets, net 270,370 286,409
Goodwill 712,331 712,450
Deferred income taxes 376,658 406,724
Other assets, net 19,185 5,396
Total assets 3,004,945 3,103,395
Current liabilities:    
Current maturities of long-term debt 25,750 23,875
Borrowings under Variable Funding Notes 75,000 0
Accounts payable 52,186 39,683
Accrued expenses 63,385 75,371
Equipment deposits 7,305 10,165
Deferred revenue, current 80,852 58,593
Payable pursuant to tax benefit arrangements, current 38,441 55,518
Other current liabilities 53,595 49,285
Total current liabilities 396,514 312,490
Long-term debt, net of current maturities 2,448,282 2,458,379
Lease liabilities, net of current portion 415,568 419,120
Deferred revenue, net of current portion 30,217 29,657
Deferred tax liabilities 968 1,177
Payable pursuant to tax benefit arrangements, net of current portion 322,925 360,273
Other liabilities 5,209 5,677
Total noncurrent liabilities 3,223,169 3,274,283
Commitments and contingencies (Note 12)
Stockholders’ equity (deficit):    
Additional paid in capital 630,297 623,333
Accumulated other comprehensive (loss) income (836) 1,311
Accumulated deficit (1,242,206) (1,107,429)
Total stockholders’ deficit attributable to Planet Fitness, Inc. (612,737) (482,777)
Non-controlling interests (2,001) (601)
Total stockholders’ deficit (614,738) (483,378)
Total liabilities and stockholders’ deficit 3,004,945 3,103,395
Class A common stock    
Stockholders’ equity (deficit):    
Common stock, value 8 8
Class B common stock    
Stockholders’ equity (deficit):    
Common stock, value $ 0 $ 0
v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)
shares in Thousands, $ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Accounts receivable, allowance for bad debts $ 35 $ 428
Allowance for expected credit loss 25,447 24,424
Accumulated depreciation $ 509,156 $ 453,852
Class A common stock    
Stockholders’ equity (deficit):    
Common stock, par value (in usd per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 300,000 300,000
Common stock, shares issued (in shares) 75,197 80,446
Common stock, shares outstanding (in shares) 75,197 80,446
Class B common stock    
Stockholders’ equity (deficit):    
Common stock, par value (in usd per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 100,000 100,000
Common stock, shares issued (in shares) 316 316
Common stock, shares outstanding (in shares) 316 316
v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue:        
Total revenue $ 365,223 $ 340,879 $ 702,459 $ 617,541
Operating costs and expenses:        
Cost of revenue 64,495 59,423 109,836 81,908
Club operations 81,698 77,437 169,892 159,117
Selling, general and administrative 34,406 35,511 68,556 69,818
National advertising fund expense 32,922 22,777 65,140 44,721
Depreciation and amortization 40,143 38,429 80,394 76,710
Other (gains) losses, net (12,254) 4,900 (13,841) 3,663
Total operating costs and expenses 241,410 238,477 479,977 435,937
Income from operations 123,813 102,402 222,482 181,604
Other income (expense), net:        
Interest income 5,271 5,690 10,933 11,502
Interest expense (33,401) (26,181) (66,368) (52,378)
Other income, net 446 1,942 1,061 2,225
Total other (expense), net (27,684) (18,549) (54,374) (38,651)
Income before income taxes 96,129 83,853 168,108 142,953
Provision for income taxes 28,513 24,930 47,822 41,146
Loss from equity-method investments, net of tax (212) (628) (1,086) (1,433)
Net income 67,404 58,295 119,200 100,374
Less: net income attributable to non-controlling interests 322 276 564 488
Net income attributable to Planet Fitness, Inc. $ 67,082 $ 58,019 $ 118,636 $ 99,886
Class A common stock        
Net income per share of Class A common stock:        
Basic (in usd per share) $ 0.87 $ 0.69 $ 1.52 $ 1.19
Diluted (in usd per share) $ 0.87 $ 0.69 $ 1.51 $ 1.19
Weighted-average shares of Class A common stock outstanding:        
Basic (in shares) 77,030,275 83,861,016 78,295,667 84,014,883
Diluted (in shares) 77,145,782 84,065,228 78,455,044 84,232,536
Franchise        
Revenue:        
Total revenue $ 102,856 $ 96,877 $ 205,105 $ 190,117
National advertising fund revenue        
Revenue:        
Total revenue 32,922 22,781 65,140 44,721
Corporate-owned clubs        
Revenue:        
Total revenue 143,862 138,989 284,484 272,658
Equipment        
Revenue:        
Total revenue $ 85,583 $ 82,232 $ 147,730 $ 110,045
v3.26.1
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Statement of Comprehensive Income [Abstract]        
Net income including non-controlling interests $ 67,404 $ 58,295 $ 119,200 $ 100,374
Other comprehensive (loss) income, net        
Foreign currency translation adjustments (159) 2,378 (1,463) 3,246
Unrealized (loss) gain on marketable securities, net of tax (72) (16) (684) 112
Total other comprehensive (loss) income, net (231) 2,362 (2,147) 3,358
Total comprehensive income including non-controlling interests 67,173 60,657 117,053 103,732
Less: total comprehensive income attributable to non-controlling interests 322 276 564 488
Total comprehensive income attributable to Planet Fitness, Inc. $ 66,851 $ 60,381 $ 116,489 $ 103,244
v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 119,200 $ 100,374
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 80,394 76,710
Equity-based compensation expense 6,270 6,138
Deferred tax expense 29,875 27,619
Amortization of deferred financing costs 2,919 2,639
Accretion of marketable securities discount (200) (837)
Losses from equity-method investments, net of tax 1,086 1,433
Dividends accrued on held-to-maturity investment (1,221) (1,139)
Credit loss on held-to-maturity investment 1,023 4,603
Gain on re-measurement of tax benefit arrangement liability 0 (1,294)
Gain on sale of equity-method investment (12,541) 0
Gain on insurance proceeds 0 (1,460)
Other (1,652) 210
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 5,336 4,747
Inventory (1,598) 1,799
Other assets and other current assets 2,370 (5,400)
Restricted assets - national advertising fund (9,556) (9,023)
Accounts payable and accrued expenses (894) 1,317
Other liabilities and other current liabilities 68 (427)
Income taxes 1,498 (4,753)
Payments pursuant to tax benefit arrangements (54,424) (52,740)
Equipment deposits (2,854) 6,009
Deferred revenue 22,927 13,770
Leases 5,423 7,599
Net cash provided by operating activities 193,449 177,894
Cash flows from investing activities:    
Additions to property and equipment (67,425) (58,801)
Insurance proceeds for property and equipment 0 2,053
Payment of deferred consideration for acquired clubs 0 (1,539)
Proceeds from sale of equity-method investment 24,264 0
Purchases of marketable securities (41,252) (81,958)
Maturities of marketable securities 62,509 71,954
Issuance of note receivable, related party (20,647) (2,639)
Other investing activity (37) (32)
Net cash used in investing activities (42,588) (70,962)
Cash flows from financing activities:    
Proceeds from issuance of Variable Funding Notes 75,000 0
Repayment of long-term debt (11,000) (11,250)
Payment of deferred financing and other debt-related costs (141) 0
Proceeds from issuance of Class A common stock 856 1,177
Repurchase and retirement of Class A common stock (251,254) (52,085)
Principal payments on capital lease obligations (100) (51)
Payment of share repurchase excise tax (4,152) (2,549)
Distributions paid to members of Pla-Fit Holdings (659) (1,331)
Net cash used in financing activities (191,450) (66,089)
Effects of exchange rate changes on cash and cash equivalents (157) 1,658
Net (decrease) increase in cash, cash equivalents and restricted cash (40,746) 42,501
Cash, cash equivalents and restricted cash, beginning of period 411,956 349,674
Cash, cash equivalents and restricted cash, end of period 371,210 392,175
Supplemental cash flow information:    
Cash paid for interest 62,541 50,067
Net cash paid for income taxes 16,462 18,285
Non-cash investing activities:    
Non-cash additions to property and equipment included in accounts payable and accrued expenses $ 19,668 $ 16,667
v3.26.1
Condensed Consolidated Statements of Changes in Equity (Deficit) (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Total
Class A common stock
Class B common stock
Common stock
Class A common stock
Common stock
Class B common stock
Additional paid- in capital
Accumulated other comprehensive income (loss)
Accumulated deficit
Non-controlling interests
Beginning balance (in shares) at Dec. 31, 2024       84,323 342        
Beginning balance at Dec. 31, 2024 $ (215,373)     $ 9 $ 0 $ 609,115 $ (2,348) $ (822,156) $ 7
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 100,374             99,886 488
Equity-based compensation expense 6,138         6,138      
Repurchase and retirement of Class A common stock (in shares)       (566)          
Repurchase and retirement of Class A common stock (52,483)         (1,186)   (52,483) 1,186
Exchanges of Class B common stock and other adjustments (in shares)       26 (26)        
Exchanges of Class B common stock and other adjustments 0         (63)     63
Issuance of shares under equity-based compensation plans (in shares)       124          
Issuance of shares under equity-based compensation plans 867         867      
Tax benefit arrangement liability and deferred taxes arising from exchanges of Class B common stock 169         169      
Distributions paid to members of Pla-Fit Holdings (1,331)               (1,331)
Other comprehensive income (loss) 3,358           3,358    
Ending balance (in shares) at Jun. 30, 2025       83,907 316        
Ending balance at Jun. 30, 2025 (158,281)     $ 9 $ 0 615,040 1,010 (774,753) 413
Beginning balance (in shares) at Mar. 31, 2025       83,836 342        
Beginning balance at Mar. 31, 2025 (219,864)     $ 9 $ 0 612,196 (1,352) (830,743) 26
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 58,295             58,019 276
Equity-based compensation expense 3,507         3,507      
Repurchase and retirement of Class A common stock (in shares)       (22)          
Repurchase and retirement of Class A common stock (2,029)         (1,030)   (2,029) 1,030
Exchanges of Class B common stock and other adjustments (in shares)       26 (26)        
Exchanges of Class B common stock and other adjustments 0         (63)     63
Issuance of shares under equity-based compensation plans (in shares)       67          
Issuance of shares under equity-based compensation plans 327         327      
Tax benefit arrangement liability and deferred taxes arising from exchanges of Class B common stock 103         103      
Distributions paid to members of Pla-Fit Holdings (982)               (982)
Other comprehensive income (loss) 2,362           2,362    
Ending balance (in shares) at Jun. 30, 2025       83,907 316        
Ending balance at Jun. 30, 2025 (158,281)     $ 9 $ 0 615,040 1,010 (774,753) 413
Beginning balance (in shares) at Dec. 31, 2025   80,446 316 80,446 316        
Beginning balance at Dec. 31, 2025 (483,378)     $ 8 $ 0 623,333 1,311 (1,107,429) (601)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 119,200             118,636 564
Equity-based compensation expense 6,270         6,270      
Repurchase and retirement of Class A common stock (in shares)       (5,334)          
Repurchase and retirement of Class A common stock (253,413)         1,305   (253,413) (1,305)
Issuance of shares under equity-based compensation plans (in shares)       85          
Issuance of shares under equity-based compensation plans (611)         (611)      
Distributions paid to members of Pla-Fit Holdings (659)               (659)
Other comprehensive income (loss) (2,147)           (2,147)    
Ending balance (in shares) at Jun. 30, 2026   75,197 316 75,197 316        
Ending balance at Jun. 30, 2026 (614,738)     $ 8 $ 0 630,297 (836) (1,242,206) (2,001)
Beginning balance (in shares) at Mar. 31, 2026       79,124 316        
Beginning balance at Mar. 31, 2026 (482,792)     $ 8 $ 0 625,604 (605) (1,107,227) (572)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 67,404             67,082 322
Equity-based compensation expense 3,289         3,289      
Repurchase and retirement of Class A common stock (in shares)       (3,966)          
Repurchase and retirement of Class A common stock (202,061)         1,457   (202,061) (1,457)
Issuance of shares under equity-based compensation plans (in shares)       39          
Issuance of shares under equity-based compensation plans (53)         (53)      
Distributions paid to members of Pla-Fit Holdings (294)               (294)
Other comprehensive income (loss) (231)           (231)    
Ending balance (in shares) at Jun. 30, 2026   75,197 316 75,197 316        
Ending balance at Jun. 30, 2026 $ (614,738)     $ 8 $ 0 $ 630,297 $ (836) $ (1,242,206) $ (2,001)
v3.26.1
Business organization
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Business organization Business organization
Planet Fitness, Inc. (the “Company”), through its subsidiaries, is a franchisor and operator of fitness centers, with approximately 21.5 million members and 2,930 owned and franchised locations (referred to as clubs) in all 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico, Australia and Spain as of June 30, 2026.
The Company serves as the reporting entity for its various subsidiaries that operate three distinct lines of business:
•Licensing and selling franchises under the Planet Fitness trade name;
•Owning and operating fitness centers under the Planet Fitness trade name; and
•Selling fitness-related equipment to franchisee-owned clubs.
The Company is a holding company whose principal asset is a controlling equity interest in the membership units (“Holdings Units”) in Pla-Fit Holdings, LLC and its subsidiaries (“Pla-Fit Holdings”). As the sole managing member of Pla-Fit Holdings, the Company operates and controls all of the business and affairs of Pla-Fit Holdings, and through Pla-Fit Holdings, conducts its business. As a result, the Company consolidates Pla-Fit Holdings’ financial results and reports a non-controlling interest related to the portion of Holdings Units not owned by the Company.
v3.26.1
Summary of significant accounting policies
 6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Summary of significant accounting policies Summary of significant accounting policies
(a) Basis of presentation and consolidation
The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, these interim financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented have been reflected. All significant intercompany balances and transactions have been eliminated in consolidation.
The condensed consolidated financial statements as of and for the three and six months ended June 30, 2026 and 2025 are unaudited. The condensed consolidated balance sheet as of December 31, 2025 has been derived from the audited financial statements at that date but does not include all of the disclosures required by GAAP. These interim condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on February 25, 2026. The Company’s significant interim accounting policies include the proportional recognition of national advertising fund (“NAF”) expenses within interim periods. Operating results for the interim periods are not necessarily indicative of the results that may be expected for the full year ending December 31, 2026.
(b) Use of estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. Significant areas where estimates and judgments are relied upon by management in the preparation of the condensed consolidated financial statements include revenue recognition, valuation of equity-based compensation awards, valuation of assets and liabilities acquired in business combinations, the evaluation of the recoverability of goodwill and long-lived assets, including intangible assets, allowance for expected credit losses, the present value of lease liabilities, income taxes, including deferred tax assets and liabilities, and the liability for the Company’s tax benefit arrangements.
(c) Fair Value
ASC 820, Fair Value Measurements and Disclosures, establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows:
Level 1—Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.
Level 2—Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.
Level 3—Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
Certain of the Company’s financial instruments, including cash and cash equivalents, restricted cash, accounts receivable, accounts payable, accrued expenses and other current liabilities are carried at cost, which approximates their fair value because of their short-term nature. See Note 3 for investments that are measured at fair value on a recurring basis and Note 5 for liabilities held at carrying value on the condensed consolidated balance sheet.
(d) Reclassification
Certain amounts have been reclassified to conform to current year presentation.
(e) Recent accounting pronouncements
The FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses, in November 2024. The standard requires disaggregated disclosures in the notes to the consolidated financial statements of certain expense categories that are included in expense line items on the face of the income statement. The new standard is effective for fiscal years beginning after December 15, 2026 on a prospective basis with the option to apply it retrospectively, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of adoption on our financial disclosures.
The FASB issued ASU No. 2025-06, Targeted Improvements to the Accounting for Internal-Use Software, in September 2025. The standard modernizes the capitalization criteria for internal-use software, eliminating references to project stages and instead requiring that projects meet completion probability criteria before costs can be capitalized. The Company adopted the standard using the prospective transition method, under which the amended guidance is applied to new software costs incurred on or after January 1, 2026 for all projects, including in-process projects. The adoption did not have a material impact on the Company’s consolidated financial statements.
v3.26.1
Investments
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
Marketable securities
The following tables summarize the amortized cost, net unrealized gains and losses, fair value, and the level in the fair value hierarchy of the Company’s available-for-sale investments in marketable securities. As of June 30, 2026, the marketable securities had maturity dates that ranged from less than one month to approximately 22 months. Realized gains and losses were insignificant for the three and six months ended June 30, 2026 and 2025.
(in thousands)
Amortized CostUnrealized Losses, Net
Fair Value(1)
Level 1Level 2
June 30, 2026
Cash equivalents
Money market funds$661 $— $661 $661 $— 
Total cash equivalents661 — 661 661 — 
Short-term marketable securities
Corporate debt securities99,297 (36)99,261 — 99,261 
Commercial paper3,234 (2)3,232 — 3,232 
Total short-term marketable securities102,531 (38)102,493 — 102,493 
Long-term marketable securities
Corporate debt securities69,177 (242)68,935 — 68,935 
U.S. government agency securities1,750 (14)1,736 — 1,736 
Total long-term marketable securities70,927 (256)70,671 — 70,671 
Total cash equivalents and marketable securities$174,119 $(294)$173,825 $661 $173,164 
(in thousands)
Amortized CostUnrealized Gains, Net
Fair Value(1)
Level 1Level 2
December 31, 2025
Cash equivalents
Money market funds$407 $— $407 $407 $— 
Total cash equivalents407 — 407 407 — 
Short-term marketable securities
Corporate debt securities99,371 205 99,576 — 99,576 
Commercial paper7,185 — 7,185 — 7,185 
Total short-term marketable securities106,556 205 106,761 — 106,761 
Long-term marketable securities
Corporate debt securities88,078 185 88,263 — 88,263 
Total long-term marketable securities88,078 185 88,263 — 88,263 
Total cash equivalents and marketable securities$195,041 $390 $195,431 $407 $195,024 
(1) Fair values were determined using market prices obtained from third-party pricing sources.
For marketable securities with unrealized loss positions, the Company does not intend to sell these securities and it is more likely than not that the Company will hold these securities until maturity or a recovery of the cost basis and they are therefore all categorized as available for sale. No allowance for credit losses was recorded for these securities as of June 30, 2026.
Held-to-maturity debt security
The Company has a debt security investment that consists of redeemable preferred shares with a contractual maturity in 2026, however, due to certain subordination clauses in the preferred share agreement, repayment obligations are subordinated to other instruments that mature in 2030. The investment is classified as held-to-maturity and measured at amortized cost within investments in the condensed consolidated balance sheets. The Company reviews its held-to-maturity securities for expected credit losses under ASC Topic 326, Financial Instruments – Credit Losses, on an ongoing basis.
The Company utilizes probability-of-default and loss-given-default methodologies to estimate the allowance for expected credit losses using historical lifetime loss information for assets with similar risk characteristics, adjusted for management’s expectations. Adjustments for management’s expectations were based on the investee’s recent financial results, and forward-looking financial forecasts. Based upon its analysis, the Company recorded a credit loss expense of $0.5 million and $4.3 million during the three months ended June 30, 2026 and 2025, respectively, and $1.0 million and $4.6 million during the six months ended June 30, 2026 and 2025, respectively, on the adjustment of its allowance for credit losses within other (gains) losses, net on the condensed consolidated statements of operations.
The amortized cost of the Company’s held-to-maturity debt security investment, which includes accrued dividends, was $36.1 million and $34.9 million as of June 30, 2026 and December 31, 2025, respectively. The amortized cost, net of the allowance for expected credit losses, approximates fair value. The Company recognized dividend income of $0.6 million during each of the three months ended June 30, 2026 and 2025, and $1.2 million and $1.1 million during the six months ended June 30, 2026 and 2025, respectively, within other income, net on the condensed consolidated statements of operations.
A roll forward of the Company’s allowance for expected credit losses on its held-to-maturity investment is as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Beginning allowance for expected credit losses$24,926 $19,126 $24,424 $18,834 
Loss on adjustment of allowance for expected credit losses521 4,311 1,023 4,603 
Write-offs, net of recoveries— — — — 
Ending allowance for expected credit losses$25,447 $23,437 $25,447 $23,437 
Equity method investments
For the following investments, the Company recorded its proportionate share of the investees’ earnings, prepared in accordance with GAAP, on a one-month lag, with adjustments to eliminate unrealized profits on intra-entity sales, if any, and the amortization of basis differences, within losses from equity-method investments, net of tax on the condensed consolidated statements of operations. As of June 30, 2026, the Company determined that no impairment of its equity method investments existed.
During the three months ended June 30, 2026, the Company sold its 22.0% ownership interest in Bravo Fit Holdings Pty Ltd for $24.9 million, to a new franchisee of the Company and club operator in Australia. The investment carrying value derecognized in connection with the sale amounted to $12.3 million. The transaction resulted in a gain on the sale of the equity-method investment of $12.5 million, which was included in other (gains) losses, net on the condensed consolidated statements of operations.
Prior to the sale, the investment carrying value was $12.5 million as of December 31, 2025. The difference between the carrying amount of the Company’s investment and the underlying amount of equity in net assets of the investment was $4.5 million as of December 31, 2025. This basis difference is attributable to intangible assets, which are being amortized on a straight-line basis over a weighted-average life of 9 years, and equity method goodwill. The Company’s proportionate share of the losses in accordance with the equity method was $0.1 million during each of the three months ended June 30, 2026 and 2025, and $0.2 million and $0.4 million during the six months ended June 30, 2026 and 2025, respectively, which included the amortization of basis difference of $0.1 million during each of the three and six months ended June 30, 2026 and 2025.
As of June 30, 2026 and December 31, 2025, the Company held a 33.2% ownership interest in Planet Fitmex, LLC, a franchisee of the Company and club operator in Mexico, which is deemed to be a related party, for a total investment carrying value of $45.9 million and $46.8 million, respectively. The difference between the carrying amount of the Company’s investment and the underlying amount of equity in net assets of the investment was $14.5 million and $16.5 million as of June 30, 2026 and December 31, 2025, respectively. This basis difference is attributable to intangible assets, which are being amortized on a straight-line basis over a weighted-average life of 9 years, and equity method goodwill. The Company’s proportionate share of the losses in accordance with the equity method was $0.1 million and $0.5 million during the three months ended June 30, 2026 and 2025, respectively, and $0.9 million and $1.0 million during the six months ended June 30, 2026 and 2025, respectively, which included the amortization of basis difference of $0.2 million during each of the three months ended June 30, 2026 and 2025, and $0.3 million during each of the six months ended June 30, 2026 and 2025.
v3.26.1
Goodwill and intangible assets
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Goodwill and intangible assets Goodwill and intangible assets
Changes in the carrying amount of goodwill by reportable segment were as follows:
(in thousands)
FranchiseCorporate-owned ClubsEquipment
Amount
Goodwill at December 31, 2025
$16,938 $602,846 $92,666 $712,450 
Acquisitions
— — — — 
Sale of corporate-owned clubs— — — — 
Foreign currency translation
— (119)— (119)
Goodwill at June 30, 2026
$16,938 $602,727 $92,666 $712,331 
A summary of intangible assets is as follows:
June 30, 2026December 31, 2025
(in thousands)
Gross
carrying
amount		Accumulated
amortization		Net carrying
Amount		Gross
carrying
amount		Accumulated
amortization		Net carrying
Amount
Finite-lived intangible assets:
Customer relationships$199,043 $(187,651)$11,392 $199,043 $(186,199)$12,844 
Reacquired franchise rights274,708 (162,134)112,574 274,708 (147,547)127,161 
Total finite-lived intangible assets473,751 (349,785)123,966 473,751 (333,746)140,005 
Indefinite-lived intangible assets:
Trade and brand names146,404 — 146,404 146,404 — 146,404 
Total intangible assets$620,155 $(349,785)$270,370 $620,155 $(333,746)$286,409 
The Company determined that no impairment charges were required during any periods presented.
Amortization expense related to the finite-lived intangible assets totaled $8.0 million and $9.2 million during the three months ended June 30, 2026 and 2025, respectively, and $16.1 million and $18.4 million during the six months ended June 30, 2026 and 2025, respectively. The anticipated amortization expense related to intangible assets to be recognized in future periods as of June 30, 2026 is as follows:
(in thousands)
Amount
Remainder of 2026$16,040 
202727,956 
202827,300 
202923,675 
203017,920 
Thereafter11,075 
Total$123,966 
v3.26.1
Long-term debt
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Long-term debt Long-term debt
Long-term debt consists of the following: 
(in thousands)
June 30, 2026December 31, 2025
2019-1 Class A-2 notes$514,250 $517,000 
2022-1 Class A-2-II notes454,813 457,188 
2024-1 Class A-2-I notes417,563 419,688 
2024-1 Class A-2-II notes368,437 370,312 
2025-1 Class A-2-I notes399,000 400,000 
2025-1 Class A-2-II notes349,125 350,000 
Total long-term debt, excluding deferred financing costs2,503,188 2,514,188 
Deferred financing costs, net of accumulated amortization(29,156)(31,934)
Total long-term debt, net2,474,032 2,482,254 
Current portion of long-term debt25,750 23,875 
Long-term debt, net of current maturities$2,448,282 $2,458,379 
During the three months ended June 30, 2026, the Company drew the full $75.0 million available under its Series 2025-1 Class A-1 Notes (the “2025 Variable Funding Notes”), which bear interest at a variable rate, which was 5.5% as of June 30, 2026. The Series 2022-1 Class A-1 Notes (the “2022 Variable Funding Notes,” and together with the 2025 Variable Funding Notes, the “Variable Funding Notes”) remained undrawn as of June 30, 2026, with $75.0 million of borrowing capacity available. Although the 2025 Variable Funding Notes have a contractual maturity beyond one year, the Company may prepay outstanding borrowings at any time and classifies such borrowings as a current liability to the extent the Company expects to repay them within twelve months using cash on hand.
Future principal payments of long-term debt and expected payments of Variable Funding Notes as of June 30, 2026 are as follows:
(in thousands)
Amount
Remainder of 2026$87,875 
202725,750 
202825,750 
2029923,438 
2030397,000 
Thereafter1,118,375 
Total$2,578,188 
The carrying value and estimated fair value of long-term debt were as follows:
June 30, 2026December 31, 2025
(in thousands)
Carrying value
Estimated fair value(1)
Carrying value
Estimated fair value(1)
Long-term debt$2,503,188 $2,456,060 $2,514,188 $2,486,700 
Variable Funding Notes$75,000 $75,000 $— $— 
(1) The estimated fair value of the Company’s fixed rate long-term debt is estimated primarily based on current bid prices for the long-term debt. Judgment is required to develop these estimates. The estimated fair value of the Company’s Variable Funding Notes approximates their carrying value due to the floating interest rate on the borrowings and their expected near-term repayment. As such, the fair value of long-term debt and Variable Funding Notes is classified within Level 2, as defined under GAAP.
v3.26.1
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases Leases
The right-of-use assets and lease liabilities for operating and finance leases, including their classification in the condensed consolidated balance sheets, were as follows:
(in thousands)

Leases
Balance Sheet ClassificationJune 30, 2026December 31, 2025
Assets
OperatingRight of use asset, net$404,678 $409,320 
FinanceProperty and equipment, net 852 964 
Total lease assets$405,530 $410,284 
Liabilities
Current:
OperatingOther current liabilities$48,685 $44,397 
FinanceOther current liabilities198 203 
Noncurrent:
OperatingLease liabilities, net of current portion415,568 419,120 
FinanceOther liabilities677 773 
Total lease liabilities$465,128 $464,493 
Weighted-average remaining lease term - operating leases7.6 years7.8 years
Weighted-average discount rate - operating leases5.9%5.9%
The components of lease cost were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Operating lease cost$20,161 $19,663 $39,922 $38,886 
Variable lease cost7,618 7,478 14,916 14,449 
Total lease cost$27,779 $27,141 $54,838 $53,335 
The Company’s costs related to short-term leases, those with a duration between one and twelve months, were immaterial.
Supplemental disclosures of cash flow information related to leases were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Cash paid for lease liabilities$21,974 $16,843 $39,132 $31,257 
Operating lease ROU assets obtained in exchange for operating lease liabilities$19,159 $13,399 $21,554 $46,509 
Maturities of lease liabilities as of June 30, 2026 were as follows:
(in thousands)
Amount
Remainder of 2026$50,677 
202785,998 
202886,399 
202982,813 
203073,486 
Thereafter226,262 
Total lease payments$605,635 
Less: imputed interest(140,507)
Present value of lease liabilities$465,128 
As of June 30, 2026, future operating lease payments exclude approximately $51.6 million of legally binding minimum lease payments for leases signed but not yet commenced.
Leases Leases
The right-of-use assets and lease liabilities for operating and finance leases, including their classification in the condensed consolidated balance sheets, were as follows:
(in thousands)

Leases
Balance Sheet ClassificationJune 30, 2026December 31, 2025
Assets
OperatingRight of use asset, net$404,678 $409,320 
FinanceProperty and equipment, net 852 964 
Total lease assets$405,530 $410,284 
Liabilities
Current:
OperatingOther current liabilities$48,685 $44,397 
FinanceOther current liabilities198 203 
Noncurrent:
OperatingLease liabilities, net of current portion415,568 419,120 
FinanceOther liabilities677 773 
Total lease liabilities$465,128 $464,493 
Weighted-average remaining lease term - operating leases7.6 years7.8 years
Weighted-average discount rate - operating leases5.9%5.9%
The components of lease cost were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Operating lease cost$20,161 $19,663 $39,922 $38,886 
Variable lease cost7,618 7,478 14,916 14,449 
Total lease cost$27,779 $27,141 $54,838 $53,335 
The Company’s costs related to short-term leases, those with a duration between one and twelve months, were immaterial.
Supplemental disclosures of cash flow information related to leases were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Cash paid for lease liabilities$21,974 $16,843 $39,132 $31,257 
Operating lease ROU assets obtained in exchange for operating lease liabilities$19,159 $13,399 $21,554 $46,509 
Maturities of lease liabilities as of June 30, 2026 were as follows:
(in thousands)
Amount
Remainder of 2026$50,677 
202785,998 
202886,399 
202982,813 
203073,486 
Thereafter226,262 
Total lease payments$605,635 
Less: imputed interest(140,507)
Present value of lease liabilities$465,128 
As of June 30, 2026, future operating lease payments exclude approximately $51.6 million of legally binding minimum lease payments for leases signed but not yet commenced.
v3.26.1
Revenue from contract with customers
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue from contract with customers Revenue from contracts with customers
Contract liabilities consist primarily of deferred revenue resulting from franchise fees and area development agreement (“ADA”) fees paid by franchisees, as well as transfer fees, which are generally recognized on a straight-line basis over the term of the underlying franchise agreement, and NAF revenue collected in advance of satisfaction of the Company’s performance obligation. Also included are corporate-owned club enrollment fees, annual fees and monthly fees as well as deferred equipment rebates relating to the Company’s equipment business. The Company classifies these contract liabilities as deferred revenue in its condensed consolidated balance sheets.
The following table reflects the change in contract liabilities between December 31, 2025 and June 30, 2026:
(in thousands)
Amount
Balance at December 31, 2025
$88,250 
Revenue recognized that was included in the contract liability at the beginning of the year(50,079)
Net increase, excluding amounts recognized as revenue during the period
72,898 
Balance at June 30, 2026
$111,069 
The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations from contract liabilities that are unsatisfied, or partially unsatisfied, as of June 30, 2026. The Company has elected to exclude short-term contracts, sales and usage-based royalties and any other variable consideration recognized on an “as invoiced” basis.
(in thousands)
Amount
Remainder of 2026$67,861 
202715,744 
20283,772 
20293,339 
20302,955 
Thereafter17,398 
Total$111,069 
Equipment deposits received in advance of delivery as of June 30, 2026 were $7.3 million and are expected to be recognized as revenue within the next 12 months.
v3.26.1
Related party transactions
 6 Months Ended
Jun. 30, 2026
Related Party Transactions [Abstract]  
Related party transactions Related party transactions
Activity with franchisees considered to be related parties is summarized below:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Franchise revenue
$3,092 $2,162 $6,388 $4,388 
Equipment revenue
2,441 731 3,030 841 
Total revenue from related parties$5,533 $2,893 $9,418 $5,229 
The Company had $3.0 million and $5.4 million of accounts receivable attributable to related parties as of June 30, 2026 and December 31, 2025, respectively.
Additionally, the Company had deferred ADA and franchise agreement revenue from related parties of $0.5 million and $0.8 million as of June 30, 2026 and December 31, 2025, respectively.
As of June 30, 2026 and December 31, 2025, the Company had $1.0 million and $83.9 million, respectively, payable to related parties pursuant to tax benefit arrangements. See Note 11 for further discussion of these arrangements.
In November 2024, the Company issued a promissory note to a franchisee and its affiliates under which the Company agreed to advance up to $10.0 million. Amounts borrowed under the promissory note accrue interest at the Secured Overnight Financing Rate (“SOFR”) plus 4% and must be repaid no later than December 31, 2026. As of June 30, 2026 and December 31, 2025, $6.8 million and $5.1 million, respectively, was issued and outstanding on the promissory note, which is included in other receivables on the condensed consolidated balance sheets. Interest accrued on the outstanding promissory note was $0.1 million during the three months ended June 30, 2026 and 2025, respectively, and $0.2 million and $0.1 million during the six months ended June 30, 2026 and 2025, respectively, which is included in interest income on the condensed consolidated statements of operations.
In January 2026, the Company issued a promissory note to a franchisee and its affiliates under which the Company agreed to advance up to $20.0 million. Amounts borrowed under the promissory note accrue interest at SOFR plus 5.5% and were originally to be repaid no later than June 30, 2026. As of June 30, 2026, $19.4 million was issued and outstanding on the promissory note, which is included in other receivables on the condensed consolidated balance sheets. Interest accrued on the outstanding promissory note was $0.4 million and $0.7 million during the three and six months ended June 30, 2026, respectively, which is included in interest income on the condensed consolidated statements of operations. In August 2026, subsequent to the balance sheet date, the Company amended the promissory note to extend the maturity date to March 2029 and to require quarterly principal payments of $1.0 million beginning on December 31, 2026, with the remaining unpaid principal balance due at maturity.
The Company provides administrative services to the NAF and typically charges the NAF a fee for providing these services. The services provided, which include accounting, information technology, data processing, product development, legal and administrative support, and other operating expenses, amounted to $1.8 million and $1.5 million during the three months ended June 30, 2026 and 2025, respectively, and $3.6 million and $3.2 million during the six months ended June 30, 2026 and 2025, respectively.
A member of the Company’s board of directors, who is also a franchisee, holds an approximate 10.5% ownership of a company that sells amenity tracking compliance software to Planet Fitness clubs to which the Company made payments for the use in corporate-owned clubs of $0.1 million during each of the three months ended June 30, 2026 and 2025, and $0.2 million during each of the six months ended June 30, 2026 and 2025.
v3.26.1
Stockholders' equity
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Stockholders' equity Stockholders’ equity
Pursuant to the exchange agreement between the Company and the owners of Holdings Units other than the Company (the “Continuing LLC Owners”), the Continuing LLC Owners (or certain permitted transferees thereof) have the right, from time to time and subject to the terms of the exchange agreement, to exchange their Holdings Units, along with a corresponding number of shares of Class B common stock, for shares of Class A common stock (or cash at the option of the Company) on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends, reclassifications and similar transactions. In connection with any exchange of Holdings Units for shares of Class A common stock by a Continuing LLC Owner, the number of Holdings Units held by the Company is correspondingly increased as it acquires the exchanged Holdings Units, and a corresponding number of shares of Class B common stock are canceled.
As of June 30, 2026:
•Holders of Class A common stock owned 75,197,081 shares of Class A common stock, representing 99.6% of the voting power in the Company and, through the Company, 75,197,081 Holdings Units representing 99.6% of the economic interest in Pla-Fit Holdings; and
•the Continuing LLC Owners collectively owned 316,128 Holdings Units, representing 0.4% of the economic interest in Pla-Fit Holdings, and 316,128 shares of Class B common stock, representing 0.4% of the voting power in the Company.
Share repurchase program
2024 share repurchase program
On June 13, 2024, the Company’s board of directors conditionally approved a share repurchase program of up to $500.0 million (the “2024 Share Repurchase Program”), which became effective on September 16, 2024. During the three and six months ended June 30, 2025, the Company repurchased and retired 21,519 and 565,745 shares of Class A common stock for a total cost of $2.1 million and $52.1 million, respectively. A share repurchase excise tax of $0.4 million was also incurred.
On December 12, 2025, the Company entered into a $350.0 million accelerated share repurchase agreement (the “2025 ASR Agreement”) with Citibank, N.A. (the “Bank”). Pursuant to the terms of the 2025 ASR Agreement, on December 16, 2025, the Company paid the Bank $350.0 million in cash and received 2,548,234 shares of the Company’s Class A common stock, which were retired, and the Company recorded an increase to accumulated deficit of $280.0 million, representing 80% of the total 2025 ASR Agreement value based on the closing price of the Company’s Class A common stock on the commencement date of the transaction. Final settlement of the 2025 ASR Agreement occurred on January 12, 2026. At final settlement, the Bank delivered an additional 754,644 shares of the Company’s Class A common stock, which were retired by the Company. The final number of shares repurchased was determined based on the volume-weighted average stock price of the Company’s Class A common stock of $108.76 during the term of the transaction, less a discount and subject to adjustments pursuant to the terms and conditions of the 2025 ASR Agreement. The 2025 ASR Agreement had been evaluated as an unsettled forward contract indexed to our Class A common stock, with $70.0 million classified as an increase to accumulated deficit at the original date of payment.
2025 share repurchase program
On December 15, 2025, the Company’s board of directors conditionally approved a share repurchase program of up to $500.0 million (the “2025 Share Repurchase Program”), which became effective on January 12, 2026.
During the three and six months ended June 30, 2026, the Company repurchased and retired 3,965,298 and 4,579,023 shares of Class A common stock for a total cost of $200.0 million and $250.0 million, respectively, in addition to the above-mentioned 2025 ASR Agreement amounts. A share repurchase excise tax of $3.2 million was also incurred. As of June 30, 2026, there is $250.0 million remaining under the 2025 Share Repurchase Program.
The timing of purchases and amount of stock repurchased are subject to the Company’s discretion and dependent upon market and business conditions, the Company’s general working capital needs, stock price, applicable legal requirements and other factors. The ability to repurchase shares at any particular time is also subject to the terms of the indenture governing the Company’s securitized senior notes. Purchases may be effected through one or more open market transactions, privately negotiated transactions, transactions structured through investment banking institutions, or a combination of the foregoing.
Preferred stock
The Company had 50,000,000 shares of preferred stock authorized and none issued or outstanding as of June 30, 2026 and December 31, 2025.
v3.26.1
Earnings per share
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Earnings per share Earnings per share
Basic earnings per share of Class A common stock is computed by dividing net income attributable to Planet Fitness, Inc. by the weighted-average number of shares of Class A common stock outstanding. Diluted earnings per share of Class A common stock is computed by dividing net income attributable to Planet Fitness, Inc. by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities.
Shares of the Company’s Class B common stock do not share in the earnings attributable to Planet Fitness, Inc. and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class B common stock under the two-class method has not been presented. Shares of the Company’s Class B common stock are, however,
considered potentially dilutive shares of Class A common stock because shares of Class B common stock, together with the related Holdings Units, are exchangeable into shares of Class A common stock on a one-for-one basis.
The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands, except share and per share amounts)
2026202520262025
Numerator
Net income$67,404 $58,295 $119,200 $100,374 
Less: net income attributable to non-controlling interests322 276 564 488 
Net income attributable to Planet Fitness, Inc.$67,082 $58,019 $118,636 $99,886 
Denominator
Weighted-average shares of Class A common stock outstanding - basic77,030,275 83,861,016 78,295,667 84,014,883 
Effect of dilutive securities:
Stock options21,742 40,219 25,746 40,478 
Restricted stock units56,090 110,414 80,622 117,345 
Performance stock units37,675 53,579 53,009 59,830 
Weighted-average shares of Class A common stock outstanding - diluted77,145,782 84,065,228 78,455,044 84,232,536 
Earnings per share of Class A common stock - basic$0.87 $0.69 $1.52 $1.19 
Earnings per share of Class A common stock - diluted$0.87 $0.69 $1.51 $1.19 
The number of weighted-average common stock equivalents excluded from the computation of diluted net income per share because the effect would have been anti-dilutive were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Class B common stock
316,128 332,799 316,128 337,295 
Restricted stock units91,300 248 1,956 165 
Performance stock units78,019 248 5,753 165 
Total
485,447 333,295 323,837 337,625 
v3.26.1
Income taxes
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Income taxes Income taxes
The Company is the sole managing member of Pla-Fit Holdings, which is treated as a partnership for U.S. federal and certain state and local income taxes. As a partnership, Pla-Fit Holdings is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by Pla-Fit Holdings is passed through to and included in the taxable income or loss of its members, including the Company, on a pro-rata basis.
Planet Fitness, Inc. is subject to U.S. federal income taxes, in addition to state and local income taxes with respect to the allocable share of any taxable income of Pla-Fit Holdings. The Company’s effective tax rate was 29.7% for each of the three months ended June 30, 2026 and 2025, respectively, and 28.4% and 28.8% for the six months ended June 30, 2026 and 2025, respectively, which differed from the U.S. federal statutory rate of 21% primarily due to state and local taxes, non-deductible compensation, and a remeasurement of deferred tax assets in the prior year. The Company is also subject to taxes in foreign jurisdictions.
Net deferred tax assets of $375.7 million and $405.5 million as of June 30, 2026 and December 31, 2025, respectively, relate primarily to the tax effects of temporary differences in the book basis as compared to the tax basis of the investment in Pla-Fit Holdings as a result of the secondary offerings, other exchanges, recapitalization transactions and the IPO.
As of June 30, 2026 and December 31, 2025, the total liability related to uncertain tax positions was $0.6 million and $0.5 million, respectively. The Company recognizes accrued interest and penalties, if applicable, related to unrecognized tax benefits in income tax expense. Interest and penalties for the three and six months ended June 30, 2026 and 2025 were not material.
Tax benefit arrangements
The Company’s acquisition of Holdings Units in connection with the initial public offering (“IPO”) and future and certain past exchanges of Holdings Units for shares of the Company’s Class A common stock (or cash at the option of the Company) are expected to produce and have produced favorable tax attributes. In connection with the IPO, the Company entered into two tax receivable agreements, pursuant to which, the Company is required to make payments to certain holders of equity interests or their successors-in-interest (“TRA Holders”). Under the first of those arrangements, the Company generally is required to pay certain existing and previous equity owners of Pla-Fit Holdings, LLC 85% of the applicable tax savings, if any, in U.S. federal and state income tax that the Company is deemed to realize as a result of certain tax attributes of their Holdings Units sold to the Company (or exchanged in a taxable sale) and that are created as a result of (i) the sales of their Holdings Units for shares of Class A common stock and (ii) tax benefits attributable to payments made under the tax receivable agreement (including imputed interest). Under the second tax receivable agreement, the Company generally is required to pay 85% of the amount of tax savings, if any, that the Company is deemed to realize as a result of the tax attributes of certain equity interests previously held by affiliates of TSG Consumer Partners, LLC that resulted from their purchase of interests in Pla-Fit Holdings in 2012, and certain other tax benefits. Under both agreements, the Company generally retains the remaining 15% benefit of the applicable tax savings.
Certain existing holders of Holdings Units exercised their exchange rights and exchanged Holdings Units for newly issued shares of Class A common stock in prior periods, resulting in an increase in the tax basis of the net assets of Pla-Fit Holdings. As a result of these exchanges and other activity, the Company recognized deferred tax assets and tax benefit arrangement liabilities, each recorded with offsets to additional paid-in-capital within stockholders’ deficit, as summarized below. There were no Holdings Units exchanged during the three and six months ended June 30, 2026.
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Holdings units exchanged— 25,713 — 25,713 
Net deferred tax assets$— $835 $— $901 
Tax benefit arrangement liabilities(1)
$— $732 $— $732 
(1) Represents approximately 85% of the tax benefit generated by TRA Holders who exchanged shares and participate in the tax benefit arrangements.
The Company had a liability of $361.4 million and $415.8 million as of June 30, 2026 and December 31, 2025, respectively, related to its projected obligations under the tax benefit arrangements.
Projected future payments under the tax benefit arrangements were as follows:
(in thousands)
Amount
Remainder of 2026$1,093 
202741,498 
202842,612 
202944,442 
203047,103 
Thereafter184,618 
Total$361,366 
v3.26.1
Commitments and contingencies
 6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and contingencies Commitments and contingencies
From time to time, and in the ordinary course of business, the Company is subject to various claims, charges, and litigation, such as employment-related claims and slip and fall cases.
The Company is not currently aware of any other legal proceedings or claims that the Company believes will have, individually or in the aggregate, a material adverse effect on the Company’s financial position or result of operations.
v3.26.1
Segments
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segments Segments
The Company has three reportable segments: (i) Franchise; (ii) Corporate-owned clubs; and (iii) Equipment.
The Company’s operations are organized and managed by type of products and services and segment information is reported accordingly. The Company’s chief operating decision maker (the “CODM”) is its Chief Executive Officer. The CODM reviews financial performance and allocates resources by reportable segment. There have been no operating segments aggregated to arrive at the Company’s reportable segments. Revenues for all operating segments include only transactions with unaffiliated customers and include no intersegment revenues. The accounting policies of the reportable segments are the same as those described in Note 2.
The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, Canada, Panama, Mexico and Australia. The Company records all revenues and expenses of the NAFs within the franchise segment. The Corporate-owned clubs segment includes operations with respect to all Corporate-owned clubs throughout the United States, Canada, and Spain. The Equipment segment includes the sale of equipment to franchisee-owned clubs.
The CODM evaluates the performance of the Company’s reportable segments based on revenue and Segment Adjusted EBITDA. Segment Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, and amortization, adjusted for the impact of certain non-cash and other items that the CODM does not consider in her evaluation of ongoing performance of the segment’s core operations. The CODM utilizes Segment Adjusted EBITDA when making decisions about allocating resources to the segments as well to assess the performance for each segment by comparing the results of each segment and in the compensation of certain employees. No asset information has been provided for these reportable segments as the CODM does not regularly review asset information by reportable segment.
The following tables summarize total revenue and total Segment Adjusted EBITDA for the Company’s reportable segments.
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Revenue
Franchise$135,778 $119,658 $270,245 $234,838 
Corporate-owned clubs143,862 138,989 284,484 272,658 
Equipment85,583 82,232 147,730 110,045 
Total revenue$365,223 $340,879 $702,459 $617,541 
Adjusted EBITDA
Franchise$91,737 $86,502 $186,458 $171,367 
Corporate-owned clubs57,481 56,598 103,966 102,447 
Equipment24,326 26,435 43,793 33,877 
Segment Adjusted EBITDA$173,544 $169,535 $334,217 $307,691 
The following tables summarize the significant expense categories and amounts for each of the Company’s reportable segments and align with the segment level information that is regularly provided to the CODM:
Franchise SegmentThree Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Selling, general and administrative
$9,135 $8,772 $17,550 $15,985 
National advertising fund expense32,922 22,777 65,140 44,721 
Cost of revenue2,325 2,231 3,877 3,263 
Other segment income, net⁽¹⁾(341)(624)(2,780)(498)
Total$44,041 $33,156 $83,787 $63,471 
(1) Other segment income, net for the franchise segment includes other (gains) losses, net, and other income (expense), net.
Corporate-owned Clubs SegmentThree Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Club compensation and payroll(1)
$26,152 $24,739 $52,097 $48,693 
Rent & occupancy(1)
32,412 31,703 65,122 62,735 
Marketing(1)
10,915 9,481 29,097 24,771 
Operational and other(1)
12,219 11,513 23,575 22,918 
Selling, general and administrative2,904 3,258 7,018 7,600 
Other segment expenses, net⁽²⁾1,779 1,697 3,609 3,494 
Total$86,381 $82,391 $180,518 $170,211 
(1) Club compensation and payroll, rent and occupancy, marketing, and operational and other are included within club operations expense in the condensed consolidated statements of operations. Operational and other primarily consists of repairs and maintenance expense, transaction fees, club supplies, personal property tax expense and other expenses incurred in the operation of each corporate-owned club.
(2) Other segment expenses, net for the corporate-owned clubs segment includes cost of revenue, other (gains) losses, net, and other income (expense), net.
Equipment SegmentThree Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Cost of revenue
$60,600 $55,425 $102,724 $75,304 
Other segment expenses, net⁽¹⁾657 372 1,213 864 
Total$61,257 $55,797 $103,937 $76,168 
(1) Other segment expenses, net for the equipment segment includes selling, general, and administrative expenses, other (gains) losses, net, and other income (expense), net.
Capital expenditures for the corporate-owned clubs segment were $35.8 million and $30.8 million during the three months ended June 30, 2026 and 2025, respectively, and $56.8 million and $49.9 million during the six months ended June 30, 2026 and 2025, respectively. The CODM does not review capital expenditures related to the franchise or equipment segments.
The following table reconciles total Segment Adjusted EBITDA to consolidated income before taxes:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Segment Adjusted EBITDA$173,544 $169,535 $334,217 $307,691 
Depreciation and amortization(40,143)(38,429)(80,394)(76,710)
Interest income5,271 5,690 10,933 11,502 
Interest expense(33,401)(26,181)(66,368)(52,378)
Losses from equity-method investments, net of tax212 628 1,086 1,433 
Corporate and other unallocated expenses, net(1)
(9,354)(27,390)(31,366)(48,585)
Income before income taxes$96,129 $83,853 $168,108 $142,953 
(1) Corporate and other unallocated expenses, net includes corporate overhead costs, such as payroll and related benefit costs and professional services that are not directly attributable to any individual segment and thus are unallocated and certain other gains and charges that the CODM does not consider in her evaluation of the Company’s reportable segments.
The following table summarizes geographic information about the Company’s revenue, based on customer location:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
United States$352,579 $333,536 $679,940 $603,446 
Rest of world12,644 7,343 22,519 14,095 
Total revenue$365,223 $340,879 $702,459 $617,541 

The following table summarizes geographic information about the Company’s long-lived assets, net, excluding goodwill and other intangible assets:
(in thousands)
June 30, 2026December 31, 2025
United States$900,600 $913,906 
Rest of world70,285 65,609 
Total long-lived assets, net$970,885 $979,515 
v3.26.1
Corporate-owned and franchisee-owned clubs
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Corporate-owned and franchisee-owned clubs Corporate-owned and franchisee-owned clubs
The following table shows changes in corporate-owned and franchisee-owned clubs:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Franchisee-owned clubs:
Clubs operated at beginning of period
2,617 2,461 2,604 2,445 
New clubs opened or acquired
21 20 36 36 
Clubs debranded, sold, closed or consolidated(1)
(2)(2)(4)(2)
Clubs operated at end of period
2,636 2,479 2,636 2,479 
Corporate-owned clubs:
Clubs operated at beginning of period
292 280 292 277 
New clubs opened or acquired
2 3 2 6 
Clubs operated at end of period
294 283 294 283 
Total clubs:
Clubs operated at beginning of period
2,909 2,741 2,896 2,722 
New clubs opened or acquired
23 23 38 42 
Clubs debranded, sold, closed or consolidated(1)
(2)(2)(4)(2)
Clubs operated at end of period
2,930 2,762 2,930 2,762 
(1) The term “debranded” refers to a franchisee-owned club whose right to use the Planet Fitness brand and marks has been terminated in accordance with the franchise agreement. We retain the right to prevent debranded clubs from continuing to operate as fitness centers. The term “consolidated” refers to the combination of a franchisee’s club with another club located in close proximity with our prior approval. This often coincides with an enlargement, re-equipment and/or refurbishment of the remaining club.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2026
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.26.1
Summary of significant accounting policies (Policies)
 6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Basis of presentation and consolidation Basis of presentation and consolidation
The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, these interim financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented have been reflected. All significant intercompany balances and transactions have been eliminated in consolidation.
The condensed consolidated financial statements as of and for the three and six months ended June 30, 2026 and 2025 are unaudited. The condensed consolidated balance sheet as of December 31, 2025 has been derived from the audited financial statements at that date but does not include all of the disclosures required by GAAP. These interim condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on February 25, 2026. The Company’s significant interim accounting policies include the proportional recognition of national advertising fund (“NAF”) expenses within interim periods. Operating results for the interim periods are not necessarily indicative of the results that may be expected for the full year ending December 31, 2026.
Consolidation Basis of presentation and consolidation
The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, these interim financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented have been reflected. All significant intercompany balances and transactions have been eliminated in consolidation.
The condensed consolidated financial statements as of and for the three and six months ended June 30, 2026 and 2025 are unaudited. The condensed consolidated balance sheet as of December 31, 2025 has been derived from the audited financial statements at that date but does not include all of the disclosures required by GAAP. These interim condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on February 25, 2026. The Company’s significant interim accounting policies include the proportional recognition of national advertising fund (“NAF”) expenses within interim periods. Operating results for the interim periods are not necessarily indicative of the results that may be expected for the full year ending December 31, 2026.
Use of estimates Use of estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. Significant areas where estimates and judgments are relied upon by management in the preparation of the condensed consolidated financial statements include revenue recognition, valuation of equity-based compensation awards, valuation of assets and liabilities acquired in business combinations, the evaluation of the recoverability of goodwill and long-lived assets, including intangible assets, allowance for expected credit losses, the present value of lease liabilities, income taxes, including deferred tax assets and liabilities, and the liability for the Company’s tax benefit arrangements.
Fair value Fair Value
ASC 820, Fair Value Measurements and Disclosures, establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows:
Level 1—Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.
Level 2—Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.
Level 3—Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
Reclassification Reclassification
Certain amounts have been reclassified to conform to current year presentation.
Recent accounting pronouncements Recent accounting pronouncements
The FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses, in November 2024. The standard requires disaggregated disclosures in the notes to the consolidated financial statements of certain expense categories that are included in expense line items on the face of the income statement. The new standard is effective for fiscal years beginning after December 15, 2026 on a prospective basis with the option to apply it retrospectively, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of adoption on our financial disclosures.
The FASB issued ASU No. 2025-06, Targeted Improvements to the Accounting for Internal-Use Software, in September 2025. The standard modernizes the capitalization criteria for internal-use software, eliminating references to project stages and instead requiring that projects meet completion probability criteria before costs can be capitalized. The Company adopted the standard using the prospective transition method, under which the amended guidance is applied to new software costs incurred on or after January 1, 2026 for all projects, including in-process projects. The adoption did not have a material impact on the Company’s consolidated financial statements.
Held-to-maturity debt security
Held-to-maturity debt security
The Company has a debt security investment that consists of redeemable preferred shares with a contractual maturity in 2026, however, due to certain subordination clauses in the preferred share agreement, repayment obligations are subordinated to other instruments that mature in 2030. The investment is classified as held-to-maturity and measured at amortized cost within investments in the condensed consolidated balance sheets. The Company reviews its held-to-maturity securities for expected credit losses under ASC Topic 326, Financial Instruments – Credit Losses, on an ongoing basis.
The Company utilizes probability-of-default and loss-given-default methodologies to estimate the allowance for expected credit losses using historical lifetime loss information for assets with similar risk characteristics, adjusted for management’s expectations. Adjustments for management’s expectations were based on the investee’s recent financial results, and forward-looking financial forecasts.
v3.26.1
Investments (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost, Gross Unrealized Gains (Losses), and Fair Value of Cash Equivalents and Marketable Securities
The following tables summarize the amortized cost, net unrealized gains and losses, fair value, and the level in the fair value hierarchy of the Company’s available-for-sale investments in marketable securities. As of June 30, 2026, the marketable securities had maturity dates that ranged from less than one month to approximately 22 months. Realized gains and losses were insignificant for the three and six months ended June 30, 2026 and 2025.
(in thousands)
Amortized CostUnrealized Losses, Net
Fair Value(1)
Level 1Level 2
June 30, 2026
Cash equivalents
Money market funds$661 $— $661 $661 $— 
Total cash equivalents661 — 661 661 — 
Short-term marketable securities
Corporate debt securities99,297 (36)99,261 — 99,261 
Commercial paper3,234 (2)3,232 — 3,232 
Total short-term marketable securities102,531 (38)102,493 — 102,493 
Long-term marketable securities
Corporate debt securities69,177 (242)68,935 — 68,935 
U.S. government agency securities1,750 (14)1,736 — 1,736 
Total long-term marketable securities70,927 (256)70,671 — 70,671 
Total cash equivalents and marketable securities$174,119 $(294)$173,825 $661 $173,164 
(in thousands)
Amortized CostUnrealized Gains, Net
Fair Value(1)
Level 1Level 2
December 31, 2025
Cash equivalents
Money market funds$407 $— $407 $407 $— 
Total cash equivalents407 — 407 407 — 
Short-term marketable securities
Corporate debt securities99,371 205 99,576 — 99,576 
Commercial paper7,185 — 7,185 — 7,185 
Total short-term marketable securities106,556 205 106,761 — 106,761 
Long-term marketable securities
Corporate debt securities88,078 185 88,263 — 88,263 
Total long-term marketable securities88,078 185 88,263 — 88,263 
Total cash equivalents and marketable securities$195,041 $390 $195,431 $407 $195,024 
(1) Fair values were determined using market prices obtained from third-party pricing sources.
Schedule of Roll forward of Allowance for Expected Credit Losses on Held-to-maturity Investments
A roll forward of the Company’s allowance for expected credit losses on its held-to-maturity investment is as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Beginning allowance for expected credit losses$24,926 $19,126 $24,424 $18,834 
Loss on adjustment of allowance for expected credit losses521 4,311 1,023 4,603 
Write-offs, net of recoveries— — — — 
Ending allowance for expected credit losses$25,447 $23,437 $25,447 $23,437 
v3.26.1
Goodwill and intangible assets (Tables)
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Schedule of Changes in the Carrying Amount of Goodwill
Changes in the carrying amount of goodwill by reportable segment were as follows:
(in thousands)
FranchiseCorporate-owned ClubsEquipment
Amount
Goodwill at December 31, 2025
$16,938 $602,846 $92,666 $712,450 
Acquisitions
— — — — 
Sale of corporate-owned clubs— — — — 
Foreign currency translation
— (119)— (119)
Goodwill at June 30, 2026
$16,938 $602,727 $92,666 $712,331 
Schedule of Intangible Assets
A summary of intangible assets is as follows:
June 30, 2026December 31, 2025
(in thousands)
Gross
carrying
amount		Accumulated
amortization		Net carrying
Amount		Gross
carrying
amount		Accumulated
amortization		Net carrying
Amount
Finite-lived intangible assets:
Customer relationships$199,043 $(187,651)$11,392 $199,043 $(186,199)$12,844 
Reacquired franchise rights274,708 (162,134)112,574 274,708 (147,547)127,161 
Total finite-lived intangible assets473,751 (349,785)123,966 473,751 (333,746)140,005 
Indefinite-lived intangible assets:
Trade and brand names146,404 — 146,404 146,404 — 146,404 
Total intangible assets$620,155 $(349,785)$270,370 $620,155 $(333,746)$286,409 
Schedule of Amortization Expense The anticipated amortization expense related to intangible assets to be recognized in future periods as of June 30, 2026 is as follows:
(in thousands)
Amount
Remainder of 2026$16,040 
202727,956 
202827,300 
202923,675 
203017,920 
Thereafter11,075 
Total$123,966 
v3.26.1
Long-term debt (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt consists of the following: 
(in thousands)
June 30, 2026December 31, 2025
2019-1 Class A-2 notes$514,250 $517,000 
2022-1 Class A-2-II notes454,813 457,188 
2024-1 Class A-2-I notes417,563 419,688 
2024-1 Class A-2-II notes368,437 370,312 
2025-1 Class A-2-I notes399,000 400,000 
2025-1 Class A-2-II notes349,125 350,000 
Total long-term debt, excluding deferred financing costs2,503,188 2,514,188 
Deferred financing costs, net of accumulated amortization(29,156)(31,934)
Total long-term debt, net2,474,032 2,482,254 
Current portion of long-term debt25,750 23,875 
Long-term debt, net of current maturities$2,448,282 $2,458,379 
Schedule of Future Principal Payments of Long-term Debt
Future principal payments of long-term debt and expected payments of Variable Funding Notes as of June 30, 2026 are as follows:
(in thousands)
Amount
Remainder of 2026$87,875 
202725,750 
202825,750 
2029923,438 
2030397,000 
Thereafter1,118,375 
Total$2,578,188 
Schedule of Carrying Value and Estimated Fair Value of Long-Term Debt
The carrying value and estimated fair value of long-term debt were as follows:
June 30, 2026December 31, 2025
(in thousands)
Carrying value
Estimated fair value(1)
Carrying value
Estimated fair value(1)
Long-term debt$2,503,188 $2,456,060 $2,514,188 $2,486,700 
Variable Funding Notes$75,000 $75,000 $— $— 
(1) The estimated fair value of the Company’s fixed rate long-term debt is estimated primarily based on current bid prices for the long-term debt. Judgment is required to develop these estimates. The estimated fair value of the Company’s Variable Funding Notes approximates their carrying value due to the floating interest rate on the borrowings and their expected near-term repayment. As such, the fair value of long-term debt and Variable Funding Notes is classified within Level 2, as defined under GAAP.
v3.26.1
Leases (Tables)
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Schedule of Balance Sheet Classification of Lease Assets and Liabilities
The right-of-use assets and lease liabilities for operating and finance leases, including their classification in the condensed consolidated balance sheets, were as follows:
(in thousands)

Leases
Balance Sheet ClassificationJune 30, 2026December 31, 2025
Assets
OperatingRight of use asset, net$404,678 $409,320 
FinanceProperty and equipment, net 852 964 
Total lease assets$405,530 $410,284 
Liabilities
Current:
OperatingOther current liabilities$48,685 $44,397 
FinanceOther current liabilities198 203 
Noncurrent:
OperatingLease liabilities, net of current portion415,568 419,120 
FinanceOther liabilities677 773 
Total lease liabilities$465,128 $464,493 
Weighted-average remaining lease term - operating leases7.6 years7.8 years
Weighted-average discount rate - operating leases5.9%5.9%
Schedule of Components of Lease Cost
The components of lease cost were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Operating lease cost$20,161 $19,663 $39,922 $38,886 
Variable lease cost7,618 7,478 14,916 14,449 
Total lease cost$27,779 $27,141 $54,838 $53,335 
Supplemental disclosures of cash flow information related to leases were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Cash paid for lease liabilities$21,974 $16,843 $39,132 $31,257 
Operating lease ROU assets obtained in exchange for operating lease liabilities$19,159 $13,399 $21,554 $46,509 
Schedule of Supplemental Disclosures of Cash Flow Information Related to Leases
The components of lease cost were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Operating lease cost$20,161 $19,663 $39,922 $38,886 
Variable lease cost7,618 7,478 14,916 14,449 
Total lease cost$27,779 $27,141 $54,838 $53,335 
Supplemental disclosures of cash flow information related to leases were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Cash paid for lease liabilities$21,974 $16,843 $39,132 $31,257 
Operating lease ROU assets obtained in exchange for operating lease liabilities$19,159 $13,399 $21,554 $46,509 
Schedule of Maturities of Lease Liabilities
Maturities of lease liabilities as of June 30, 2026 were as follows:
(in thousands)
Amount
Remainder of 2026$50,677 
202785,998 
202886,399 
202982,813 
203073,486 
Thereafter226,262 
Total lease payments$605,635 
Less: imputed interest(140,507)
Present value of lease liabilities$465,128 
Schedule of Maturities of Lease Liabilities
Maturities of lease liabilities as of June 30, 2026 were as follows:
(in thousands)
Amount
Remainder of 2026$50,677 
202785,998 
202886,399 
202982,813 
203073,486 
Thereafter226,262 
Total lease payments$605,635 
Less: imputed interest(140,507)
Present value of lease liabilities$465,128 
v3.26.1
Revenue from contract with customers (Tables)
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Liabilities
The following table reflects the change in contract liabilities between December 31, 2025 and June 30, 2026:
(in thousands)
Amount
Balance at December 31, 2025
$88,250 
Revenue recognized that was included in the contract liability at the beginning of the year(50,079)
Net increase, excluding amounts recognized as revenue during the period
72,898 
Balance at June 30, 2026
$111,069 
Schedule of Remaining Performance Obligations
The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations from contract liabilities that are unsatisfied, or partially unsatisfied, as of June 30, 2026. The Company has elected to exclude short-term contracts, sales and usage-based royalties and any other variable consideration recognized on an “as invoiced” basis.
(in thousands)
Amount
Remainder of 2026$67,861 
202715,744 
20283,772 
20293,339 
20302,955 
Thereafter17,398 
Total$111,069 
v3.26.1
Related party transactions (Tables)
 6 Months Ended
Jun. 30, 2026
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
Activity with franchisees considered to be related parties is summarized below:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Franchise revenue
$3,092 $2,162 $6,388 $4,388 
Equipment revenue
2,441 731 3,030 841 
Total revenue from related parties$5,533 $2,893 $9,418 $5,229 
v3.26.1
Earnings per share (Tables)
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Schedule of Reconciliation of Numerators and Denominators Used to Compute Basic and Diluted Earnings per Share
The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands, except share and per share amounts)
2026202520262025
Numerator
Net income$67,404 $58,295 $119,200 $100,374 
Less: net income attributable to non-controlling interests322 276 564 488 
Net income attributable to Planet Fitness, Inc.$67,082 $58,019 $118,636 $99,886 
Denominator
Weighted-average shares of Class A common stock outstanding - basic77,030,275 83,861,016 78,295,667 84,014,883 
Effect of dilutive securities:
Stock options21,742 40,219 25,746 40,478 
Restricted stock units56,090 110,414 80,622 117,345 
Performance stock units37,675 53,579 53,009 59,830 
Weighted-average shares of Class A common stock outstanding - diluted77,145,782 84,065,228 78,455,044 84,232,536 
Earnings per share of Class A common stock - basic$0.87 $0.69 $1.52 $1.19 
Earnings per share of Class A common stock - diluted$0.87 $0.69 $1.51 $1.19 
Schedule of Common Stock Equivalents Excluded from Computation of Diluted Net Income per Share
The number of weighted-average common stock equivalents excluded from the computation of diluted net income per share because the effect would have been anti-dilutive were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Class B common stock
316,128 332,799 316,128 337,295 
Restricted stock units91,300 248 1,956 165 
Performance stock units78,019 248 5,753 165 
Total
485,447 333,295 323,837 337,625 
v3.26.1
Income taxes (Tables)
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Schedule of Deferred Tax Assets and Tax Benefit Arrangement Liabilities As a result of these exchanges and other activity, the Company recognized deferred tax assets and tax benefit arrangement liabilities, each recorded with offsets to additional paid-in-capital within stockholders’ deficit, as summarized below. There were no Holdings Units exchanged during the three and six months ended June 30, 2026.
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Holdings units exchanged— 25,713 — 25,713 
Net deferred tax assets$— $835 $— $901 
Tax benefit arrangement liabilities(1)
$— $732 $— $732 
(1) Represents approximately 85% of the tax benefit generated by TRA Holders who exchanged shares and participate in the tax benefit arrangements.
Schedule of Future Payments Under Tax Benefit Arrangements
Projected future payments under the tax benefit arrangements were as follows:
(in thousands)
Amount
Remainder of 2026$1,093 
202741,498 
202842,612 
202944,442 
203047,103 
Thereafter184,618 
Total$361,366 
v3.26.1
Segments (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Financial Information for the Company's Reportable Segments
The following tables summarize total revenue and total Segment Adjusted EBITDA for the Company’s reportable segments.
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Revenue
Franchise$135,778 $119,658 $270,245 $234,838 
Corporate-owned clubs143,862 138,989 284,484 272,658 
Equipment85,583 82,232 147,730 110,045 
Total revenue$365,223 $340,879 $702,459 $617,541 
Adjusted EBITDA
Franchise$91,737 $86,502 $186,458 $171,367 
Corporate-owned clubs57,481 56,598 103,966 102,447 
Equipment24,326 26,435 43,793 33,877 
Segment Adjusted EBITDA$173,544 $169,535 $334,217 $307,691 
Schedule of Significant Expense Categories
The following tables summarize the significant expense categories and amounts for each of the Company’s reportable segments and align with the segment level information that is regularly provided to the CODM:
Franchise SegmentThree Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Selling, general and administrative
$9,135 $8,772 $17,550 $15,985 
National advertising fund expense32,922 22,777 65,140 44,721 
Cost of revenue2,325 2,231 3,877 3,263 
Other segment income, net⁽¹⁾(341)(624)(2,780)(498)
Total$44,041 $33,156 $83,787 $63,471 
(1) Other segment income, net for the franchise segment includes other (gains) losses, net, and other income (expense), net.
Corporate-owned Clubs SegmentThree Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Club compensation and payroll(1)
$26,152 $24,739 $52,097 $48,693 
Rent & occupancy(1)
32,412 31,703 65,122 62,735 
Marketing(1)
10,915 9,481 29,097 24,771 
Operational and other(1)
12,219 11,513 23,575 22,918 
Selling, general and administrative2,904 3,258 7,018 7,600 
Other segment expenses, net⁽²⁾1,779 1,697 3,609 3,494 
Total$86,381 $82,391 $180,518 $170,211 
(1) Club compensation and payroll, rent and occupancy, marketing, and operational and other are included within club operations expense in the condensed consolidated statements of operations. Operational and other primarily consists of repairs and maintenance expense, transaction fees, club supplies, personal property tax expense and other expenses incurred in the operation of each corporate-owned club.
(2) Other segment expenses, net for the corporate-owned clubs segment includes cost of revenue, other (gains) losses, net, and other income (expense), net.
Equipment SegmentThree Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Cost of revenue
$60,600 $55,425 $102,724 $75,304 
Other segment expenses, net⁽¹⁾657 372 1,213 864 
Total$61,257 $55,797 $103,937 $76,168 
(1) Other segment expenses, net for the equipment segment includes selling, general, and administrative expenses, other (gains) losses, net, and other income (expense), net.
Schedule of Reconciliation of Total Segment Adjusted EBITDA to Income Before Taxes
The following table reconciles total Segment Adjusted EBITDA to consolidated income before taxes:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Segment Adjusted EBITDA$173,544 $169,535 $334,217 $307,691 
Depreciation and amortization(40,143)(38,429)(80,394)(76,710)
Interest income5,271 5,690 10,933 11,502 
Interest expense(33,401)(26,181)(66,368)(52,378)
Losses from equity-method investments, net of tax212 628 1,086 1,433 
Corporate and other unallocated expenses, net(1)
(9,354)(27,390)(31,366)(48,585)
Income before income taxes$96,129 $83,853 $168,108 $142,953 
(1) Corporate and other unallocated expenses, net includes corporate overhead costs, such as payroll and related benefit costs and professional services that are not directly attributable to any individual segment and thus are unallocated and certain other gains and charges that the CODM does not consider in her evaluation of the Company’s reportable segments.
Schedule of Geographical Revenue & Long- Lived Assets
The following table summarizes geographic information about the Company’s revenue, based on customer location:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
United States$352,579 $333,536 $679,940 $603,446 
Rest of world12,644 7,343 22,519 14,095 
Total revenue$365,223 $340,879 $702,459 $617,541 

The following table summarizes geographic information about the Company’s long-lived assets, net, excluding goodwill and other intangible assets:
(in thousands)
June 30, 2026December 31, 2025
United States$900,600 $913,906 
Rest of world70,285 65,609 
Total long-lived assets, net$970,885 $979,515 
v3.26.1
Corporate-owned and franchisee-owned clubs (Tables)
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Changes in Corporate-Owned and Franchisee-Owned Stores
The following table shows changes in corporate-owned and franchisee-owned clubs:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Franchisee-owned clubs:
Clubs operated at beginning of period
2,617 2,461 2,604 2,445 
New clubs opened or acquired
21 20 36 36 
Clubs debranded, sold, closed or consolidated(1)
(2)(2)(4)(2)
Clubs operated at end of period
2,636 2,479 2,636 2,479 
Corporate-owned clubs:
Clubs operated at beginning of period
292 280 292 277 
New clubs opened or acquired
2 3 2 6 
Clubs operated at end of period
294 283 294 283 
Total clubs:
Clubs operated at beginning of period
2,909 2,741 2,896 2,722 
New clubs opened or acquired
23 23 38 42 
Clubs debranded, sold, closed or consolidated(1)
(2)(2)(4)(2)
Clubs operated at end of period
2,930 2,762 2,930 2,762 
(1) The term “debranded” refers to a franchisee-owned club whose right to use the Planet Fitness brand and marks has been terminated in accordance with the franchise agreement. We retain the right to prevent debranded clubs from continuing to operate as fitness centers. The term “consolidated” refers to the combination of a franchisee’s club with another club located in close proximity with our prior approval. This often coincides with an enlargement, re-equipment and/or refurbishment of the remaining club.
v3.26.1
Business organization (Details)
member in Millions
 6 Months Ended
Jun. 30, 2026
segment
member
store
state
Mar. 31, 2026
store
Dec. 31, 2025
store
Jun. 30, 2025
store
Mar. 31, 2025
store
Dec. 31, 2024
store
Organization, Consolidation and Presentation of Financial Statements [Abstract]            
Number of members | member 21.5          
Clubs operated at beginning of period | store 2,930 2,909 2,896 2,762 2,741 2,722
Number of states in which entity operates | state 50          
Number of reportable segments | segment 3          
v3.26.1
Investments - Narrative (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Schedule of Equity Method Investments [Line Items]          
Allowance for credit losses $ 0   $ 0    
Credit loss on held-to-maturity investment 521,000 $ 4,311,000 1,023,000 $ 4,603,000  
Amortized cost of held-to-maturity debt security investments 36,100,000   36,100,000   $ 34,900,000
Dividends accrued on held-to-maturity investment 600,000 600,000 1,200,000 1,100,000  
Proceeds from sale of equity-method investment     24,264,000 0  
Gain on sale of equity-method investment     12,541,000 0  
Loss from equity-method investments, net of tax $ (212,000) (628,000) $ (1,086,000) (1,433,000)  
Bravo Fit Holdings Pty Ltd          
Schedule of Equity Method Investments [Line Items]          
Ownership (in percentage) 22.00%   22.00%   22.00%
Proceeds from sale of equity-method investment $ 24,900,000   $ 24,900,000    
Total investment 12,300,000   12,300,000   $ 12,500,000
Gain on sale of equity-method investment     $ 12,500,000    
Underlying equity in net assets         $ 4,500,000
Weighted average useful life     9 years    
Loss from equity-method investments, net of tax 100,000 100,000 $ (200,000) (400,000)  
Basis difference amortization $ 100,000 100,000 $ 100,000 100,000  
Planet Fitmex, LLC          
Schedule of Equity Method Investments [Line Items]          
Ownership (in percentage) 33.20%   33.20%   33.20%
Total investment $ 45,900,000   $ 45,900,000   $ 46,800,000
Underlying equity in net assets 14,500,000   $ 14,500,000   $ 16,500,000
Weighted average useful life     9 years    
Loss from equity-method investments, net of tax 100,000 (500,000) $ (900,000) (1,000,000.0)  
Basis difference amortization $ 200,000 $ 200,000 $ 300,000 $ 300,000  
Minimum          
Schedule of Equity Method Investments [Line Items]          
Maturity dates 1 month   1 month    
Maximum          
Schedule of Equity Method Investments [Line Items]          
Maturity dates 22 months   22 months    
v3.26.1
Investments - Schedule of Amortized Cost, Gross Unrealized Gains (Losses), and Fair Value of Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Schedule of Equity Method Investments [Line Items]    
Amortized Cost $ 174,119 $ 195,041
Unrealized Losses, Net (294) 390
Fair Value 173,825 195,431
Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 661 407
Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 173,164 195,024
Balance Sheet Location [Axis]: us-gaap:CashAndCashEquivalentsAtCarryingValue    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 661 407
Unrealized Losses, Net 0 0
Fair Value 661 407
Balance Sheet Location [Axis]: us-gaap:CashAndCashEquivalentsAtCarryingValue | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 661 407
Balance Sheet Location [Axis]: us-gaap:CashAndCashEquivalentsAtCarryingValue | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Balance Sheet Location [Axis]: us-gaap:CashAndCashEquivalentsAtCarryingValue | Money market funds    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 661 407
Unrealized Losses, Net 0 0
Fair Value 661 407
Balance Sheet Location [Axis]: us-gaap:CashAndCashEquivalentsAtCarryingValue | Money market funds | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 661 407
Balance Sheet Location [Axis]: us-gaap:CashAndCashEquivalentsAtCarryingValue | Money market funds | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesCurrent    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 102,531 106,556
Unrealized Losses, Net (38) 205
Fair Value 102,493 106,761
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesCurrent | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesCurrent | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 102,493 106,761
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesCurrent | Corporate debt securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 99,297 99,371
Unrealized Losses, Net (36) 205
Fair Value 99,261 99,576
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesCurrent | Corporate debt securities | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesCurrent | Corporate debt securities | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 99,261 99,576
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesCurrent | Commercial paper    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 3,234 7,185
Unrealized Losses, Net (2) 0
Fair Value 3,232 7,185
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesCurrent | Commercial paper | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesCurrent | Commercial paper | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 3,232 7,185
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesNoncurrent    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 70,927 88,078
Unrealized Losses, Net (256) 185
Fair Value 70,671 88,263
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesNoncurrent | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesNoncurrent | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 70,671 88,263
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesNoncurrent | Corporate debt securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 69,177 88,078
Unrealized Losses, Net 242 185
Fair Value 68,935 88,263
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesNoncurrent | Corporate debt securities | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesNoncurrent | Corporate debt securities | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 68,935 $ 88,263
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesNoncurrent | U.S. government agency securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 1,750  
Unrealized Losses, Net (14)  
Fair Value 1,736  
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesNoncurrent | U.S. government agency securities | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0  
Balance Sheet Location [Axis]: us-gaap:MarketableSecuritiesNoncurrent | U.S. government agency securities | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value $ 1,736  
v3.26.1
Investments - Schedule of Roll forward of Allowance for Expected Credit Losses on Held-to-maturity Investments (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward]        
Beginning allowance for expected credit losses $ 24,926 $ 19,126 $ 24,424 $ 18,834
Loss on adjustment of allowance for expected credit losses 521 4,311 1,023 4,603
Write-offs, net of recoveries 0 0 0 0
Ending allowance for expected credit losses $ 25,447 $ 23,437 $ 25,447 $ 23,437
v3.26.1
Goodwill and intangible assets - Schedule of Changes in the Carrying Amount of Goodwill (Details)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
USD ($)
Goodwill [Roll Forward]  
Goodwill at December 31, 2025 $ 712,450
Acquisitions 0
Sale of corporate-owned clubs 0
Foreign currency translation (119)
Goodwill at June 30, 2026 712,331
Franchise  
Goodwill [Roll Forward]  
Goodwill at December 31, 2025 16,938
Acquisitions 0
Sale of corporate-owned clubs 0
Foreign currency translation 0
Goodwill at June 30, 2026 16,938
Corporate-owned Clubs  
Goodwill [Roll Forward]  
Goodwill at December 31, 2025 602,846
Acquisitions 0
Sale of corporate-owned clubs 0
Foreign currency translation (119)
Goodwill at June 30, 2026 602,727
Equipment  
Goodwill [Roll Forward]  
Goodwill at December 31, 2025 92,666
Acquisitions 0
Sale of corporate-owned clubs 0
Foreign currency translation 0
Goodwill at June 30, 2026 $ 92,666
v3.26.1
Goodwill and intangible assets - Additional Information (Details) - USD ($)
 3 Months Ended 6 Months Ended 9 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Sep. 30, 2025
Intangible Asset, Goodwill and Other [Abstract]          
Acquisitions     $ 0    
Impairment charges     0   $ 0
Amortization of intangible assets $ 8,000,000.0 $ 9,200,000 $ 16,100,000 $ 18,400,000  
v3.26.1
Goodwill and intangible assets - Schedule of Intangible Assets (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Finite-lived intangible assets:    
Gross carrying amount $ 473,751 $ 473,751
Accumulated amortization (349,785) (333,746)
Total 123,966 140,005
Indefinite-lived intangible assets:    
Total intangible assets 620,155 620,155
Net carrying Amount 270,370 286,409
Trade and brand names    
Indefinite-lived intangible assets:    
Indefinite-lived intangible assets 146,404 146,404
Customer relationships    
Finite-lived intangible assets:    
Gross carrying amount 199,043 199,043
Accumulated amortization (187,651) (186,199)
Total 11,392 12,844
Reacquired franchise rights    
Finite-lived intangible assets:    
Gross carrying amount 274,708 274,708
Accumulated amortization (162,134) (147,547)
Total $ 112,574 $ 127,161
v3.26.1
Goodwill and intangible assets - Schedule of Amortization Expense (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Intangible Asset, Goodwill and Other [Abstract]    
Remainder of 2026 $ 16,040  
2027 27,956  
2028 27,300  
2029 23,675  
2030 17,920  
Thereafter 11,075  
Total $ 123,966 $ 140,005
v3.26.1
Long-term debt - Schedule of Long-term Debt (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Debt Instrument [Line Items]        
Total long-term debt, excluding deferred financing costs $ 2,503,188 $ 2,503,188   $ 2,514,188
Deferred financing costs, net of accumulated amortization (29,156) (29,156)   (31,934)
Total long-term debt, net 2,474,032 2,474,032   2,482,254
Current portion of long-term debt 25,750 25,750   23,875
Long-term debt, net of current maturities 2,448,282 2,448,282   2,458,379
Proceeds from issuance of Variable Funding Notes   75,000 $ 0  
2025 Variable Funding Notes        
Debt Instrument [Line Items]        
Proceeds from issuance of Variable Funding Notes 75,000      
Senior Notes | 2019-1 Class A-2 notes        
Debt Instrument [Line Items]        
Total long-term debt, excluding deferred financing costs 514,250 514,250   517,000
Senior Notes | 2022-1 Class A-2-II notes        
Debt Instrument [Line Items]        
Total long-term debt, excluding deferred financing costs 454,813 454,813   457,188
Senior Notes | 2024-1 Class A-2-I notes        
Debt Instrument [Line Items]        
Total long-term debt, excluding deferred financing costs 417,563 417,563   419,688
Senior Notes | 2024-1 Class A-2-II notes        
Debt Instrument [Line Items]        
Total long-term debt, excluding deferred financing costs 368,437 368,437   370,312
Senior Notes | 2025-1 Class A-2-I notes        
Debt Instrument [Line Items]        
Total long-term debt, excluding deferred financing costs 399,000 399,000   400,000
Senior Notes | 2025-1 Class A-2-II notes        
Debt Instrument [Line Items]        
Total long-term debt, excluding deferred financing costs $ 349,125 $ 349,125   $ 350,000
v3.26.1
Long-term debt - Schedule of Future Principal Payments of Long-term Debt (Details)
$ in Thousands
Jun. 30, 2026
USD ($)
Debt Disclosure [Abstract]  
Remainder of 2026 $ 87,875
2027 25,750
2028 25,750
2029 923,438
2030 397,000
Thereafter 1,118,375
Total $ 2,578,188
v3.26.1
Long-term debt - Schedule of Carrying Value and Estimated Fair Value of Long-term Debt (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Carrying value | Long-term debt    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 2,503,188 $ 2,514,188
Carrying value | Variable Funding Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 75,000 0
Estimated fair value | Long-term debt    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 2,456,060 2,486,700
Estimated fair value | Variable Funding Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 75,000 $ 0
v3.26.1
Long-term debt - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2026
Jun. 30, 2025
Debt Instrument [Line Items]      
Proceeds from issuance of secured debt   $ 75,000 $ 0
2025 Variable Funding Notes      
Debt Instrument [Line Items]      
Proceeds from issuance of secured debt $ 75,000    
Variable rate 5.50% 5.50%  
2022 Variable Funding Notes      
Debt Instrument [Line Items]      
Borrowing capacity available $ 75,000 $ 75,000  
v3.26.1
Leases - Schedule of Balance Sheet Classification of Lease Assets and Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets    
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Property and equipment, net of accumulated depreciation of $509,156 and $453,852, as of June 30, 2026 and December 31, 2025, respectively Property and equipment, net of accumulated depreciation of $509,156 and $453,852, as of June 30, 2026 and December 31, 2025, respectively
Operating $ 404,678 $ 409,320
Finance 852 964
Total lease assets $ 405,530 $ 410,284
Liabilities    
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Other current liabilities Other current liabilities
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other current liabilities Other current liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Other liabilities Other liabilities
Current operating lease liabilities $ 48,685 $ 44,397
Current finance lease liabilities 198 203
Noncurrent operating lease liabilities 415,568 419,120
Noncurrent finance lease liabilities 677 773
Total lease liabilities $ 465,128 $ 464,493
Weighted-average remaining lease term - operating leases 7 years 7 months 6 days 7 years 9 months 18 days
Weighted-average discount rate - operating leases 5.90% 5.90%
v3.26.1
Leases - Schedule of Components of Lease Cost (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Leases [Abstract]        
Operating lease cost $ 20,161 $ 19,663 $ 39,922 $ 38,886
Variable lease cost 7,618 7,478 14,916 14,449
Total lease cost $ 27,779 $ 27,141 $ 54,838 $ 53,335
v3.26.1
Leases - Schedule of Supplemental Disclosures of Cash Flow Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Leases [Abstract]        
Cash paid for lease liabilities $ 21,974 $ 16,843 $ 39,132 $ 31,257
Operating lease ROU assets obtained in exchange for operating lease liabilities $ 19,159 $ 13,399 $ 21,554 $ 46,509
v3.26.1
Leases - Schedule of Maturities of Lease Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Leases [Abstract]    
Remainder of 2026 $ 50,677  
2027 85,998  
2028 86,399  
2029 82,813  
2030 73,486  
Thereafter 226,262  
Total lease payments 605,635  
Less: imputed interest (140,507)  
Present value of lease liabilities $ 465,128 $ 464,493
v3.26.1
Leases - Additional Information (Details)
$ in Millions
Jun. 30, 2026
USD ($)
Leases [Abstract]  
Lease payments for leases signed but not yet commenced $ 51.6
v3.26.1
Revenue from contract with customers - Schedule of Contract Liabilities (Details)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
USD ($)
Amount  
Beginning Balance $ 88,250
Revenue recognized that was included in the contract liability at the beginning of the year (50,079)
Net increase, excluding amounts recognized as revenue during the period 72,898
Ending Balance $ 111,069
v3.26.1
Revenue from contract with customers - Schedule of Remaining Performance Obligation (Details)
$ in Thousands
Jun. 30, 2026
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 111,069
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 67,861
Remaining performance obligation, expected timing of satisfaction 3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 15,744
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 3,772
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 3,339
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 2,955
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2031-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 17,398
Remaining performance obligation, expected timing of satisfaction
v3.26.1
Revenue from contract with customers - Additional Information (Details)
$ in Millions
 6 Months Ended
Jun. 30, 2026
USD ($)
Revenue from Contract with Customer [Abstract]  
Equipment deposits $ 7.3
Deferred revenue expected recognition period (in months) 12 months
v3.26.1
Related party transactions - Schedule of Related Party Transactions (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Related Party Transaction [Line Items]        
Total revenue from related parties $ 365,223 $ 340,879 $ 702,459 $ 617,541
Related party        
Related Party Transaction [Line Items]        
Total revenue from related parties 5,533 2,893 9,418 5,229
Related party | Franchise revenue        
Related Party Transaction [Line Items]        
Total revenue from related parties 3,092 2,162 6,388 4,388
Related party | Equipment revenue        
Related Party Transaction [Line Items]        
Total revenue from related parties $ 2,441 $ 731 $ 3,030 $ 841
v3.26.1
Related party transactions - Additional Information (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Aug. 06, 2026
USD ($)
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Jan. 31, 2026
USD ($)
Dec. 31, 2025
USD ($)
Nov. 30, 2024
USD ($)
Related Party Transaction [Line Items]                
Accounts receivable   $ 65,618   $ 65,618     $ 70,431  
Deferred revenue   111,069   111,069     88,250  
Accounts payable   52,186   52,186     39,683  
Total revenue   365,223 $ 340,879 702,459 $ 617,541      
Related party                
Related Party Transaction [Line Items]                
Accounts receivable   3,000   3,000     5,400  
Total revenue   5,533 2,893 9,418 5,229      
Related party | Administrative Service                
Related Party Transaction [Line Items]                
Total revenue   1,800 1,500 3,600 3,200      
Related party | Deferred ADA and franchise agreement revenue                
Related Party Transaction [Line Items]                
Deferred revenue   500   500     800  
Related party | Tax benefit arrangements                
Related Party Transaction [Line Items]                
Accounts payable   1,000   1,000     83,900  
Related party | Amenity tracking compliance software | Chief Executive Officer                
Related Party Transaction [Line Items]                
Purchases from related party   $ 100 100 $ 200 200      
Related party | Amenity tracking compliance software | Amenity Tracking Compliance Software Company | Chief Executive Officer                
Related Party Transaction [Line Items]                
Ownership (in percentage)   10.50%   10.50%        
Franchisee | November 2024 Promissory Note                
Related Party Transaction [Line Items]                
Promissory note (up to)               $ 10,000
Interest rate(in percentage)               0.04
Promissory note issued and outstanding   $ 6,800   $ 6,800     $ 5,100  
Interest receivable accrued   100 $ 100 200 $ 100      
Franchisee | January 2026 Promissory Note                
Related Party Transaction [Line Items]                
Promissory note (up to)           $ 20,000    
Interest rate(in percentage)           0.055    
Promissory note issued and outstanding   19,400   19,400        
Interest receivable accrued   $ 400   $ 700        
Franchisee | January 2026 Promissory Note | Subsequent Event                
Related Party Transaction [Line Items]                
Quarterly principal payments $ 1,000              
v3.26.1
Stockholders' equity (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jan. 12, 2026
Dec. 16, 2025
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Mar. 31, 2026
Dec. 31, 2025
Dec. 15, 2025
Dec. 12, 2025
Mar. 31, 2025
Dec. 31, 2024
Jun. 13, 2024
Class of Stock [Line Items]                          
Repurchase and retirement of common stock     $ 202,061,000 $ 2,029,000 $ 253,413,000 $ 52,483,000              
Preferred stock authorized (in shares)     50,000,000   50,000,000     50,000,000          
Preferred stock issued (in shares)     0   0     0          
Preferred stock outstanding (in shares)     0   0     0          
2024 Share Repurchase Program                          
Class of Stock [Line Items]                          
Authorized stock repurchase program amount                         $ 500,000,000.0
Share repurchase excise tax           $ 400,000              
2025 Accelerated Share Repurchase Agreement                          
Class of Stock [Line Items]                          
Authorized stock repurchase program amount                   $ 350,000,000.0      
Accelerated cash paid   $ 350,000,000.0                      
2025 Share Repurchase Program                          
Class of Stock [Line Items]                          
Authorized stock repurchase program amount                 $ 500,000,000.0        
Share repurchase excise tax         $ 3,200,000                
Remaining authorized amount     $ 250,000,000.0   $ 250,000,000.0                
Investor | Pla-Fit Holdings, LLC | Secondary Offering and Exchange                          
Class of Stock [Line Items]                          
Percentage of economic interest(in percentage)         99.60%                
Continuing LLC Owners | Secondary Offering and Exchange                          
Class of Stock [Line Items]                          
Number of units held by owners (in shares)     316,128   316,128                
Continuing LLC Owners | Pla-Fit Holdings, LLC | Secondary Offering and Exchange                          
Class of Stock [Line Items]                          
Percentage of economic interest(in percentage)         0.40%                
Class B common stock                          
Class of Stock [Line Items]                          
Shares exchanged for Class A common stock (in shares)         1                
Common stock, shares outstanding (in shares)     316,000   316,000     316,000          
Class B common stock | Common stock                          
Class of Stock [Line Items]                          
Common stock, shares outstanding (in shares)     316,000 316,000 316,000 316,000 316,000 316,000     342,000 342,000  
Class B common stock | Continuing LLC Owners | Secondary Offering and Exchange                          
Class of Stock [Line Items]                          
Number of units held by owners (in shares)     316,128   316,128                
Class B common stock | Continuing LLC Owners | Continuing LLC Owners | Pla-Fit Holdings, LLC | Secondary Offering and Exchange                          
Class of Stock [Line Items]                          
Economic interest(in percentage)     0.40%   0.40%                
Holdings units                          
Class of Stock [Line Items]                          
Shares exchanged for Class A common stock (in shares)         1                
Class A common stock                          
Class of Stock [Line Items]                          
Common stock, shares outstanding (in shares)     75,197,000   75,197,000     80,446,000          
Class A common stock | 2024 Share Repurchase Program                          
Class of Stock [Line Items]                          
Repurchase and retirement of common stock (in shares)       21,519   565,745              
Repurchase and retirement of common stock       $ 2,100,000   $ 52,100,000              
Class A common stock | 2025 Accelerated Share Repurchase Agreement                          
Class of Stock [Line Items]                          
Repurchase and retirement of common stock (in shares) 754,644 2,548,234                      
Repurchase and retirement of common stock   $ 280,000,000.0                      
Percent of total ASR agreement value   80.00%                      
Weighted average cost per share (in usd per share) $ 108.76                        
Increase to accumulated deficit   $ 70,000,000.0                      
Class A common stock | 2025 Share Repurchase Program                          
Class of Stock [Line Items]                          
Repurchase and retirement of common stock (in shares)     3,965,298   4,579,023                
Repurchase and retirement of common stock     $ 200,000,000.0   $ 250,000,000.0                
Class A common stock | Common stock                          
Class of Stock [Line Items]                          
Common stock, shares outstanding (in shares)     75,197,000 83,907,000 75,197,000 83,907,000 79,124,000 80,446,000     83,836,000 84,323,000  
Repurchase and retirement of common stock (in shares)     3,966,000 22,000 5,334,000 566,000              
Class A common stock | Common Stockholders | Investor | Common stock                          
Class of Stock [Line Items]                          
Common stock, shares outstanding (in shares)     75,197,081   75,197,081                
Class A common stock | Common Stockholders | Investor | Common stock | Planet Fitness, Inc.                          
Class of Stock [Line Items]                          
Economic interest(in percentage)     99.60%   99.60%                
Class A common stock | Continuing LLC Owners | Investor                          
Class of Stock [Line Items]                          
Common stock, shares outstanding (in shares)     75,197,081   75,197,081                
v3.26.1
Earnings per share - Additional Information (Details)
 6 Months Ended
Jun. 30, 2026
shares
Holdings units  
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]  
Shares exchanged for Class A common stock (in shares) 1
Class B common stock  
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]  
Shares exchanged for Class A common stock (in shares) 1
v3.26.1
Earnings per share - Schedule of Reconciliation of Numerators and Denominators Used to Compute Basic and Diluted Earnings per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Numerator        
Net income $ 67,404 $ 58,295 $ 119,200 $ 100,374
Less: net income attributable to non-controlling interests 322 276 564 488
Net income attributable to Planet Fitness, Inc. $ 67,082 $ 58,019 $ 118,636 $ 99,886
Stock options        
Effect of dilutive securities:        
Weighted-average shares outstanding adjustment (shares) 21,742 40,219 25,746 40,478
Restricted stock units        
Effect of dilutive securities:        
Weighted-average shares outstanding adjustment (shares) 56,090 110,414 80,622 117,345
Performance stock units        
Effect of dilutive securities:        
Weighted-average shares outstanding adjustment (shares) 37,675 53,579 53,009 59,830
Class A common stock        
Denominator        
Weighted-average shares of Class A common stock outstanding - basic (in shares) 77,030,275 83,861,016 78,295,667 84,014,883
Effect of dilutive securities:        
Weighted-average shares of Class A common stock outstanding - diluted (in shares) 77,145,782 84,065,228 78,455,044 84,232,536
Earnings per share of Class A common stock - basic (in usd per share) $ 0.87 $ 0.69 $ 1.52 $ 1.19
Earnings per share of Class A common stock - diluted (in usd per share) $ 0.87 $ 0.69 $ 1.51 $ 1.19
v3.26.1
Earnings per share - Schedule of Common Stock Equivalents Excluded From The Computation Of Diluted Net Income per Share (Details) - shares
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total 485,447 333,295 323,837 337,625
Class B common stock        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total 316,128 332,799 316,128 337,295
Restricted stock units        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total 91,300 248 1,956 165
Performance stock units        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total 78,019 248 5,753 165
v3.26.1
Income taxes - Additional information (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2025
Jun. 30, 2026
USD ($)
agreement
Jun. 30, 2025
Dec. 31, 2025
USD ($)
Tax Credit Carryforward [Line Items]          
Effective income tax rate(in percentage) 29.70% 29.70% 28.40% 28.80%  
Net deferred tax assets $ 375,700   $ 375,700   $ 405,500
Total liability related to uncertain tax positions 600   600   500
Tax benefit obligation $ 361,366   $ 361,366   $ 415,800
TRA Holders          
Tax Credit Carryforward [Line Items]          
Number of tax receivable agreements | agreement     2    
Applicable tax savings (in percentage) 85.00%   85.00%    
Percentage of remaining tax savings(in percentage)     15.00%    
v3.26.1
Income taxes - Schedule of Deferred Tax Assets and Tax Benefit Arrangement Liabilities (Details) - Continuing LLC Owners - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Tax Disclosure [Line Items]        
Net deferred tax assets $ 0 $ 835 $ 0 $ 901
Tax benefit arrangement liabilities $ 0 $ 732 $ 0 $ 732
Class A common stock        
Income Tax Disclosure [Line Items]        
Holding units exchanged (in shares) 0 25,713 0 25,713
v3.26.1
Income taxes - Schedule of Future Payments Under Tax Benefit Arrangements (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Income Tax Disclosure [Abstract]    
Remainder of 2026 $ 1,093  
2027 41,498  
2028 42,612  
2029 44,442  
2030 47,103  
Thereafter 184,618  
Total $ 361,366 $ 415,800
v3.26.1
Segments - Additional Information (Details)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
segment
Jun. 30, 2025
USD ($)
Segment Reporting [Line Items]        
Number of reportable segments | segment     3  
Corporate-owned clubs        
Segment Reporting [Line Items]        
Capital expenditures | $ $ 35.8 $ 30.8 $ 56.8 $ 49.9
v3.26.1
Segments - Schedule of Financial Information for the Company's Reportable Segments (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting [Line Items]        
Total revenue $ 365,223 $ 340,879 $ 702,459 $ 617,541
Segment Adjusted EBITDA 173,544 169,535 334,217 307,691
Franchise        
Segment Reporting [Line Items]        
Total revenue 135,778 119,658 270,245 234,838
Segment Adjusted EBITDA 91,737 86,502 186,458 171,367
Corporate-owned clubs        
Segment Reporting [Line Items]        
Total revenue 143,862 138,989 284,484 272,658
Segment Adjusted EBITDA 57,481 56,598 103,966 102,447
Equipment        
Segment Reporting [Line Items]        
Total revenue 85,583 82,232 147,730 110,045
Segment Adjusted EBITDA $ 24,326 $ 26,435 $ 43,793 $ 33,877
v3.26.1
Segments- Schedule of Significant Expense Categories (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting [Line Items]        
Selling, general and administrative $ 34,406 $ 35,511 $ 68,556 $ 69,818
National advertising fund expense 32,922 22,777 65,140 44,721
Cost of revenue 64,495 59,423 109,836 81,908
Total operating costs and expenses 241,410 238,477 479,977 435,937
Franchise        
Segment Reporting [Line Items]        
Selling, general and administrative 9,135 8,772 17,550 15,985
National advertising fund expense 32,922 22,777 65,140 44,721
Cost of revenue 2,325 2,231 3,877 3,263
Other segment (income) expenses, net (341) (624) (2,780) (498)
Total operating costs and expenses 44,041 33,156 83,787 63,471
Corporate-owned clubs        
Segment Reporting [Line Items]        
Selling, general and administrative 2,904 3,258 7,018 7,600
Other segment expenses, net 1,779 1,697 3,609 3,494
Total operating costs and expenses 86,381 82,391 180,518 170,211
Club compensation and payroll 26,152 24,739 52,097 48,693
Rent & occupancy 32,412 31,703 65,122 62,735
Marketing 10,915 9,481 29,097 24,771
Operational and other 12,219 11,513 23,575 22,918
Total 35,800 30,800 56,800 49,900
Equipment        
Segment Reporting [Line Items]        
Cost of revenue 60,600 55,425 102,724 75,304
Other segment expenses, net 657 372 1,213 864
Total $ 61,257 $ 55,797 $ 103,937 $ 76,168
v3.26.1
Segments - Schedule of Reconciliation of Total Segment Adjusted EBITDA to Income Before Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting [Line Items]        
Segment Adjusted EBITDA $ 173,544 $ 169,535 $ 334,217 $ 307,691
Depreciation and amortization (40,143) (38,429) (80,394) (76,710)
Interest income 5,271 5,690 10,933 11,502
Interest expense (33,401) (26,181) (66,368) (52,378)
Losses from equity-method investments, net of tax 212 628 1,086 1,433
Income before income taxes 96,129 83,853 168,108 142,953
Operating Segments        
Segment Reporting [Line Items]        
Segment Adjusted EBITDA 173,544 169,535 334,217 307,691
Corporate and Other        
Segment Reporting [Line Items]        
Depreciation and amortization (40,143) (38,429) (80,394) (76,710)
Interest income 5,271 5,690 10,933 11,502
Interest expense (33,401) (26,181) (66,368) (52,378)
Losses from equity-method investments, net of tax 212 628 1,086 1,433
Corporate and other unallocated expenses, net $ (9,354) $ (27,390) $ (31,366) $ (48,585)
v3.26.1
Segments - Schedule of Geographical Revenue & Long- Lived Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]          
Total revenue $ 365,223 $ 340,879 $ 702,459 $ 617,541  
Total long-lived assets, net 970,885   970,885   $ 979,515
United States          
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]          
Total revenue 352,579 333,536 679,940 603,446  
Total long-lived assets, net 900,600   900,600   913,906
Rest of world          
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]          
Total revenue 12,644 $ 7,343 22,519 $ 14,095  
Total long-lived assets, net $ 70,285   $ 70,285   $ 65,609
v3.26.1
Corporate-owned and franchisee-owned clubs - Schedule of Changes in Corporate-owned and Franchisee-owned Clubs (Details) - store
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Number Of Stores [Roll Forward]        
Clubs operated at beginning of period 2,909 2,741 2,896 2,722
New clubs opened or acquired 23 23 38 42
Clubs debranded, sold, closed or consolidated (2) (2) (4) (2)
Clubs operated at end of period 2,930 2,762 2,930 2,762
Franchisee-owned clubs:        
Number Of Stores [Roll Forward]        
Clubs operated at beginning of period 2,617 2,461 2,604 2,445
New clubs opened or acquired 21 20 36 36
Clubs debranded, sold, closed or consolidated (2) (2) (4) (2)
Clubs operated at end of period 2,636 2,479 2,636 2,479
Corporate-owned clubs:        
Number Of Stores [Roll Forward]        
Clubs operated at beginning of period 292 280 292 277
New clubs opened or acquired 2 3 2 6
Clubs operated at end of period 294 283 294 283