PLANET FITNESS, INC., 10-Q filed on 5/9/2025
Quarterly Report
v3.25.1
Cover - shares
 3 Months Ended
Mar. 31, 2025
May 02, 2025
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2025  
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, $0.0001 Par Value  
Trading Symbol PLNT  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Amendment Flag false  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
Entity Central Index Key 0001637207  
Current Fiscal Year End Date --12-31  
Class A common stock    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   83,851,176
Class B common stock    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   341,841
v3.25.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 343,910 $ 293,150
Restricted cash 56,581 56,524
Short-term marketable securities 109,718 114,163
Accounts receivable, net of allowances for uncollectible amounts of $30 as of March 31, 2025 and December 31, 2024 38,643 77,145
Inventory 1,974 6,146
Restricted assets - national advertising fund 16,670 0
Prepaid expenses 16,547 21,499
Other receivables 18,816 16,776
Income tax receivable 734 2,616
Total current assets 603,593 588,019
Long-term marketable securities 76,091 65,668
Investments, net of allowance for expected credit losses of $19,126 and $18,834 as of March 31, 2025 and December 31, 2024, respectively 75,257 75,650
Property and equipment, net of accumulated depreciation of $397,755 and $370,118, as of March 31, 2025 and December 31, 2024, respectively 419,313 423,991
Right-of-use assets, net 416,237 395,174
Intangible assets, net 314,139 323,318
Goodwill 720,834 720,633
Deferred income taxes 459,035 470,197
Other assets, net 7,423 7,058
Total assets 3,091,922 3,069,708
Current liabilities:    
Current maturities of long-term debt 22,500 22,500
Accounts payable 25,757 32,887
Accrued expenses 61,538 67,895
Equipment deposits 2,489 1,851
Deferred revenue, current 80,755 62,111
Payable pursuant to tax benefit arrangements, current 55,556 55,556
Other current liabilities 38,858 39,695
Total current liabilities 287,453 282,495
Long-term debt, net of current maturities 2,143,718 2,148,029
Lease liabilities, net of current portion 433,151 405,324
Deferred revenue, net of current portion 31,163 31,990
Deferred tax liabilities 1,323 1,386
Payable pursuant to tax benefit arrangements, net of current portion 411,276 411,360
Other liabilities 3,702 4,497
Total noncurrent liabilities 3,024,333 3,002,586
Commitments and contingencies (Note 12)
Stockholders’ equity (deficit):    
Accumulated other comprehensive (loss) income (1,352) (2,348)
Additional paid in capital 612,196 609,115
Accumulated deficit (830,743) (822,156)
Total stockholders’ deficit attributable to Planet Fitness, Inc. (219,890) (215,380)
Non-controlling interests 26 7
Total stockholders’ deficit (219,864) (215,373)
Total liabilities and stockholders’ deficit 3,091,922 3,069,708
Class A common stock    
Stockholders’ equity (deficit):    
Common stock, value 9 9
Class B common stock    
Stockholders’ equity (deficit):    
Common stock, value $ 0 $ 0
v3.25.1
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)
shares in Thousands, $ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Accounts receivable, allowance for bad debts $ 30 $ 30
Allowance for expected credit loss 19,126 18,834
Accumulated depreciation $ 397,755 $ 370,118
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) 83,836 84,323
Common stock, shares outstanding (in shares) 83,836 84,323
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) 342 342
Common stock, shares outstanding (in shares) 342 342
v3.25.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenue:    
Total revenue $ 276,662 $ 248,017
Operating costs and expenses:    
Cost of revenue 22,485 18,993
Club operations 81,680 74,353
Selling, general and administrative 34,307 29,193
National advertising fund expense 21,944 19,792
Depreciation and amortization 38,281 39,380
Other (gains) losses, net (1,237) 484
Total operating costs and expenses 197,460 182,195
Income from operations 79,202 65,822
Other income (expense), net:    
Interest income 5,812 5,461
Interest expense (26,197) (21,433)
Other income, net 283 647
Total other expense, net (20,102) (15,325)
Income before income taxes 59,100 50,497
Provision for income taxes 16,216 14,324
Losses from equity-method investments, net of tax (805) (1,200)
Net income 42,079 34,973
Less net income attributable to non-controlling interests 212 664
Net income attributable to Planet Fitness, Inc. $ 41,867 $ 34,309
Class A common stock    
Net income per share of Class A common stock:    
Basic (in usd per share) $ 0.50 $ 0.39
Diluted (in usd per share) $ 0.50 $ 0.39
Weighted-average shares of Class A common stock outstanding:    
Basic (in shares) 84,170,460 86,909,383
Diluted (in shares) 84,401,899 87,222,081
Franchise    
Revenue:    
Total revenue $ 93,240 $ 84,234
National advertising fund revenue    
Revenue:    
Total revenue 21,940 19,786
Corporate-owned clubs    
Revenue:    
Total revenue 133,669 122,378
Equipment    
Revenue:    
Total revenue $ 27,813 $ 21,619
v3.25.1
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Statement of Comprehensive Income [Abstract]    
Net income including non-controlling interests $ 42,079 $ 34,973
Other comprehensive income (loss), net:    
Foreign currency translation adjustments 868 (212)
Unrealized gain (loss) on marketable securities, net of tax 128 (395)
Total other comprehensive income (loss), net 996 (607)
Total comprehensive income including non-controlling interests 43,075 34,366
Less: total comprehensive income attributable to non-controlling interests 212 664
Total comprehensive income attributable to Planet Fitness, Inc. $ 42,863 $ 33,702
v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 42,079 $ 34,973
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 38,281 39,380
Equity-based compensation expense 2,631 975
Deferred tax expense 10,961 11,367
Amortization of deferred financing costs 1,314 1,346
Accretion of marketable securities discount (488) (871)
Losses from equity-method investments, net of tax 805 1,200
Dividends accrued on held-to-maturity investment (561) (528)
Credit loss on held-to-maturity investment 292 475
Gain on re-measurement of tax benefit arrangement liability (84) (362)
Loss on disposal of property and equipment 56 867
Gain on insurance proceeds (1,461) 0
Other (316) (41)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 38,490 18,084
Inventory 4,172 (287)
Other assets and other current assets 868 (6,444)
Restricted assets - national advertising fund (16,670) (17,945)
Accounts payable and accrued expenses (13,934) (18,530)
Other liabilities and other current liabilities (918) (548)
Income taxes 4,967 1,943
Equipment deposits 637 3,088
Deferred revenue 17,805 19,519
Leases 5,001 2,071
Net cash provided by operating activities 133,927 89,732
Cash flows from investing activities:    
Additions to property and equipment (23,055) (26,311)
Insurance proceeds for property and equipment 2,053 0
Payment of deferred consideration for acquired clubs (1,479) 0
Purchases of marketable securities (42,334) (34,922)
Maturities of marketable securities 36,749 22,589
Other investing activities (33) 0
Net cash used in investing activities (28,099) (38,644)
Cash flows from financing activities:    
Repayment of long-term debt and variable funding notes (5,625) (5,188)
Proceeds from issuance of Class A common stock 655 450
Repurchase and retirement of Class A common stock (50,009) (20,005)
Principal payments on capital lease obligations (31) (36)
Distributions paid to members of Pla-Fit Holdings (349) (218)
Net cash used in financing activities (55,359) (24,997)
Effects of exchange rate changes on cash and cash equivalents 348 (315)
Net increase in cash, cash equivalents and restricted cash 50,817 25,776
Cash, cash equivalents and restricted cash, beginning of period 349,674 322,121
Cash, cash equivalents and restricted cash, end of period 400,491 347,897
Supplemental cash flow information:    
Cash paid for interest 25,065 20,165
Net cash paid for income taxes 289 1,013
Non-cash investing activities:    
Non-cash additions to property and equipment included in accounts payable and accrued expenses $ 10,645 $ 11,400
v3.25.1
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
Accumulated other comprehensive (loss) income
Additional paid- in capital
Accumulated deficit
Non-controlling interests
Beginning balance (in shares) at Dec. 31, 2023       86,760 1,397        
Beginning balance at Dec. 31, 2023 $ (118,991)     $ 9 $ 0 $ 172 $ 575,631 $ (691,461) $ (3,342)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 34,973             34,309 664
Equity-based compensation expense 975           975    
Repurchase and retirement of Class A common stock (in shares)       (314)          
Repurchase and retirement of Class A common stock (20,169)           774 (20,169) (774)
Exchanges of Class B common stock and other adjustments (in shares)       326 (326)        
Exchanges of Class B common stock and other adjustments 0           (854)   854
Issuance of shares under equity-based compensation plans (in shares)       60          
Issuance of shares under equity-based compensation plans 381           381    
Tax benefit arrangement liability and deferred taxes arising from exchanges of Class B common stock and other adjustments 4,425           4,425    
Distributions paid to members of Pla-Fit Holdings (218)               (218)
Other comprehensive income (loss) (607)         (607)      
Ending balance (in shares) at Mar. 31, 2024       86,832 1,071        
Ending balance at Mar. 31, 2024 (99,231)     $ 9 $ 0 (435) 581,332 (677,321) (2,816)
Beginning balance (in shares) at Dec. 31, 2024   84,323 342 84,323 342        
Beginning balance at Dec. 31, 2024 (215,373)     $ 9 $ 0 (2,348) 609,115 (822,156) 7
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 42,079             41,867 212
Equity-based compensation expense 2,631           2,631    
Repurchase and retirement of Class A common stock (in shares)       (544)          
Repurchase and retirement of Class A common stock (50,454)           (156) (50,454) 156
Issuance of shares under equity-based compensation plans (in shares)       57          
Issuance of shares under equity-based compensation plans 540           540    
Tax benefit arrangement liability and deferred taxes arising from exchanges of Class B common stock and other adjustments 66           66    
Distributions paid to members of Pla-Fit Holdings (349)               (349)
Other comprehensive income (loss) 996         996      
Ending balance (in shares) at Mar. 31, 2025   83,836 342 83,836 342        
Ending balance at Mar. 31, 2025 $ (219,864)     $ 9 $ 0 $ (1,352) $ 612,196 $ (830,743) $ 26
v3.25.1
Business organization
 3 Months Ended
Mar. 31, 2025
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 20.6 million members and 2,741 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 March 31, 2025.
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.
In 2012 investment funds affiliated with TSG Consumer Partners, LLC (“TSG”), purchased interests in Pla-Fit Holdings.
The Company was formed as a Delaware corporation on March 16, 2015 for the purpose of facilitating an initial public offering (the “IPO”) and related transactions in order to carry on the business of Pla-Fit Holdings, LLC and its subsidiaries (“Pla-Fit Holdings”). As of August 5, 2015, in connection with the recapitalization transactions, the Company became the sole managing member and holder of 100% of the voting power of Pla-Fit Holdings. Pla-Fit Holdings owns 100% of Planet Intermediate, LLC, which has no operations but is the 100% owner of Planet Fitness Holdings, LLC, a franchisor and operator of fitness centers. With respect to the Company, Pla-Fit Holdings and Planet Intermediate, LLC, each entity owns nothing other than the respective entity below it in the corporate structure and each entity has no other material operations.
The Company is a holding company whose principal asset is a controlling equity interest in the membership units (“Holdings Units”) in 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.
As of March 31, 2025, the Company held 100.0% of the voting interest and approximately 99.6% of the economic interest in Pla-Fit Holdings and the owners of Holdings Units other than the Company (the “Continuing LLC Owners”) held the remaining 0.4% economic interest in Pla-Fit Holdings. As future exchanges of Holdings Units occur, the economic interest in Pla-Fit Holdings held by Planet Fitness, Inc. will increase.
v3.25.1
Summary of significant accounting policies
 3 Months Ended
Mar. 31, 2025
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 months ended March 31, 2025 and 2024 are unaudited. The condensed consolidated balance sheet as of December 31, 2024 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, 2024 filed with the SEC on February 25, 2025. The Company’s significant interim accounting policies include the proportional recognition of national advertising fund 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, 2025.
(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 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. 2023-09, Improvements to Income Tax Disclosures, in December 2023. The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions and applies to all entities subject to income taxes. The new standard is effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of adoption on our financial disclosures.
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.
v3.25.1
Investments
 3 Months Ended
Mar. 31, 2025
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 March 31, 2025, the marketable securities had maturity dates that range from less than one month to approximately 24 months. Realized gains and losses were insignificant for the three months ended March 31, 2025 and 2024.
Amortized CostUnrealized Gains (Losses), Net
Fair Value(1)
Level 1Level 2
March 31, 2025
Cash equivalents
Money market funds$1,153 $— $1,153 $1,153 $— 
Commercial paper1,998 — 1,998 — 1,998 
Total cash equivalents3,151 — 3,151 1,153 1,998 
Short-term marketable securities
Commercial paper6,428 4 6,432 — 6,432 
Corporate debt securities102,392 150 102,542 — 102,542 
U.S. government agency securities744 — 744 — 744 
Total short-term marketable securities109,564 154 109,718 — 109,718 
Long-term marketable securities
Corporate debt securities72,481 110 72,591 — 72,591 
U.S. government agency securities3,500 — 3,500 — 3,500 
Total long-term marketable securities75,981 110 76,091 — 76,091 
Total cash equivalents and marketable securities$188,696 $264 $188,960 $1,153 $187,807 
Amortized CostUnrealized Gains (Losses), Net
Fair Value(1)
Level 1Level 2
December 31, 2024
Cash equivalents
Money market funds$236 $— $236 $236 $— 
Commercial paper3,996 — 3,996 — 3,996 
U.S. treasury securities2,650 — 2,650 — 2,650 
Total cash equivalents6,882 — 6,882 236 6,646 
Short-term marketable securities
Commercial paper9,082 10 9,092 — 9,092 
Corporate debt securities98,915 181 99,096 — 99,096 
U.S. treasury securities1,999 — 1,999 — 1,999 
U.S. government agency securities3,971 5 3,976 — 3,976 
Total short-term marketable securities113,967 196 114,163 — 114,163 
Long-term marketable securities
Corporate debt securities62,728 (55)62,673 — 62,673 
U.S. government agency securities3,000 (5)2,995 — 2,995 
Total long-term marketable securities65,728 (60)65,668 — 65,668 
Total cash equivalents and marketable securities$186,577 $136 $186,713 $236 $186,477 
(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 March 31, 2025.
Held-to-maturity debt security
The Company has a debt security investment that consists of redeemable preferred shares with an original contractual maturity in 2026. 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 (“PD”) and loss-given-default (“LGD”) 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, current financial position, and forward-looking financial forecasts. Based upon its analysis, the Company recorded a credit loss expense of $292 and $475 for the three months ended March 31, 2025 and 2024, 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 $33,084 and $32,523 as of March 31, 2025 and December 31, 2024, respectively. The amortized cost, net of the allowance for expected credit losses, approximates fair value. The Company recognized dividend income of $561 and $528 during the three months ended March 31, 2025 and 2024, respectively, within other income (expense), 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 March 31,
20252024
Beginning allowance for expected credit losses$18,834 $17,689 
Loss on adjustment of allowance for expected credit losses292 475 
Write-offs, net of recoveries— — 
Ending allowance for expected credit losses$19,126 $18,164 
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 March 31, 2025, the Company determined that no impairment of its equity method investments existed.
As of March 31, 2025 and December 31, 2024, the Company held a 22.0% ownership interest in Bravo Fit Holdings Pty Ltd, a franchisee of the Company and club operator in Australia, which is deemed to be a related party, for a total investment carrying value of $12,821 and $12,961, 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 $5,635 and $5,374 as of March 31, 2025 and December 31, 2024, 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 $283 and $308 for the three months ended March 31, 2025 and 2024, respectively, which included the amortization of basis difference of $66 for each period.
As of March 31, 2025 and December 31, 2024, 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 $48,478 and $49,000, 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 $20,349 and $21,702 as of March 31, 2025 and December 31, 2024, 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 $522 and $892 for the three months ended March 31, 2025 and 2024, respectively, which included the amortization of basis differences of $174 and $163, respectively.
v3.25.1
Goodwill and intangible assets
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and intangible assets Goodwill and intangible assets
Changes in the carrying amount of goodwill by reportable segment were as follows:
FranchiseCorporate-owned ClubsEquipment
Amount
Goodwill at December 31, 2024
$16,938 $611,029 $92,666 $720,633 
Acquisitions
— 70 — 70 
Foreign currency translation
— 131 — 131 
Goodwill at March 31, 2025
$16,938 $611,230 $92,666 $720,834 
In December 2024, the Company’s operating entity in Spain completed an immaterial acquisition of three clubs. The acquisition resulted in the addition of $1,619 in the carrying value of goodwill. During the three months ended March 31, 2025, the Company recorded an addition of $70 to the carrying value of goodwill as a result of an update to the preliminary allocation of the purchase consideration.
A summary of intangible assets is as follows:
March 31, 2025December 31, 2024
Gross
carrying
amount		Accumulated
amortization
Net carrying
amount
Gross
carrying
amount		Accumulated
amortization
Net carrying
amount
Finite-lived intangible assets:
Customer relationships$199,043 $(183,834)$15,209 $199,043 $(183,046)$15,997 
Reacquired franchise rights274,708 (122,378)152,330 274,708 (113,987)160,721 
Total finite-lived intangible assets473,751 (306,212)167,539 473,751 (297,033)176,718 
Indefinite-lived intangible assets:
Trade and brand names146,600 — 146,600 146,600 — 146,600 
Total intangible assets$620,351 $(306,212)$314,139 $620,351 $(297,033)$323,318 
The Company determined that no impairment charges were required during any periods presented.
Amortization expense related to the finite-lived intangible assets totaled $9,189 and $12,768 for the three months ended March 31, 2025 and 2024, respectively. The anticipated amortization expense related to intangible assets to be recognized in future periods as of March 31, 2025 is as follows:
 Amount
Remainder of 2025$27,534 
202632,079 
202727,956 
202827,300 
202923,675 
Thereafter28,995 
Total$167,539 
v3.25.1
Long-term debt
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Long-term debt Long-term debt
Long-term debt consists of the following: 
 March 31, 2025December 31, 2024
2019-1 Class A-2 notes$521,125 $522,500 
2022-1 Class A-2-I notes412,250 413,312 
2022-1 Class A-2-II notes460,750 461,938 
2024-1 Class A-2-I notes
422,875 423,938 
2024-1 Class A-2-II notes
373,125 374,062 
Total debt, excluding deferred financing costs2,190,125 2,195,750 
Deferred financing costs, net of accumulated amortization(23,907)(25,221)
Total debt, net2,166,218 2,170,529 
Current portion of long-term debt22,500 22,500 
Long-term debt, net of current portion$2,143,718 $2,148,029 
Future principal payments of long-term debt as of March 31, 2025 are as follows: 
 Amount
Remainder of 2025$16,875 
2026427,312 
202718,250 
202818,250 
2029915,938 
Thereafter793,500 
Total$2,190,125 
The carrying value and estimated fair value of long-term debt were as follows:
March 31, 2025December 31, 2024
Carrying value
Estimated fair value(1)
Carrying value
Estimated fair value(1)
Long-term debt
$2,190,125 $2,112,478 $2,195,750 $2,082,034 
(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. As such, the fair value of long-term debt is classified within Level 2, as defined under GAAP.
v3.25.1
Leases
 3 Months Ended
Mar. 31, 2025
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:
LeasesBalance Sheet ClassificationMarch 31, 2025December 31, 2024
Assets
OperatingRight of use asset, net$416,237 $395,174 
FinanceProperty and equipment, net 128 85 
Total lease assets$416,365 $395,259 
Liabilities
Current:
OperatingOther current liabilities$35,291 $37,031 
FinanceOther current liabilities62 70 
Noncurrent:
OperatingLease liabilities, net of current portion433,151 405,324 
FinanceOther liabilities69 20 
Total lease liabilities$468,573 $442,445 
Weighted-average remaining lease term - operating leases7.7 years7.7 years
Weighted-average discount rate - operating leases5.7%5.6%
The components of lease cost were as follows:
Three Months Ended March 31,
20252024
Operating lease cost$19,205 $17,475 
Variable lease cost6,990 6,203 
Total lease cost$26,195 $23,678 
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 March 31,
20252024
Cash paid for lease liabilities, net
$14,071 $15,303 
Operating lease ROU assets obtained in exchange for operating lease liabilities
$33,098 $16,064 
Maturities of lease liabilities as of March 31, 2025 were as follows:
Amount
Remainder of 2025$39,524 
202682,795 
202783,172 
202881,803 
202974,198 
Thereafter233,583 
Total lease payments$595,075 
Less: imputed interest(126,502)
Present value of lease liabilities$468,573 
As of March 31, 2025, future operating lease payments exclude approximately $36,565 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:
LeasesBalance Sheet ClassificationMarch 31, 2025December 31, 2024
Assets
OperatingRight of use asset, net$416,237 $395,174 
FinanceProperty and equipment, net 128 85 
Total lease assets$416,365 $395,259 
Liabilities
Current:
OperatingOther current liabilities$35,291 $37,031 
FinanceOther current liabilities62 70 
Noncurrent:
OperatingLease liabilities, net of current portion433,151 405,324 
FinanceOther liabilities69 20 
Total lease liabilities$468,573 $442,445 
Weighted-average remaining lease term - operating leases7.7 years7.7 years
Weighted-average discount rate - operating leases5.7%5.6%
The components of lease cost were as follows:
Three Months Ended March 31,
20252024
Operating lease cost$19,205 $17,475 
Variable lease cost6,990 6,203 
Total lease cost$26,195 $23,678 
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 March 31,
20252024
Cash paid for lease liabilities, net
$14,071 $15,303 
Operating lease ROU assets obtained in exchange for operating lease liabilities
$33,098 $16,064 
Maturities of lease liabilities as of March 31, 2025 were as follows:
Amount
Remainder of 2025$39,524 
202682,795 
202783,172 
202881,803 
202974,198 
Thereafter233,583 
Total lease payments$595,075 
Less: imputed interest(126,502)
Present value of lease liabilities$468,573 
As of March 31, 2025, future operating lease payments exclude approximately $36,565 of legally binding minimum lease payments for leases signed but not yet commenced.
v3.25.1
Revenue from contract with customers
 3 Months Ended
Mar. 31, 2025
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 national advertising fund (“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 its 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, 2024 and March 31, 2025:
Amount
Balance at December 31, 2024
$94,101 
Revenue recognized that was included in the contract liability at the beginning of the year(37,624)
Increase, excluding amounts recognized as revenue during the period55,441 
Balance at March 31, 2025
$111,918 
The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied, or partially unsatisfied, as of March 31, 2025. 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.
Contract liabilities to be recognized in:Amount
Remainder of 2025$76,388 
20267,988 
20273,705 
20283,355 
20292,924 
Thereafter17,558 
Total$111,918 
Equipment deposits received in advance of delivery as of March 31, 2025 were $2,489 and are expected to be recognized as revenue within the next 12 months.
v3.25.1
Related party transactions
 3 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
Related party transactions Related party transactions
Activity with franchisees considered to be related parties is summarized below:
 Three Months Ended March 31,
 20252024
Franchise revenue
$2,226 $2,164 
Equipment revenue
110 4,002 
Total revenue from related parties$2,336 $6,166 
The Company had $3,087 and $6,198 of accounts receivable attributable to related parties as of March 31, 2025 and December 31, 2024, respectively.
Additionally, the Company had deferred ADA and franchise agreement revenue from related parties of $566 and $577 as of March 31, 2025 and December 31, 2024.
As of March 31, 2025 and December 31, 2024, the Company had $88,084 and $88,099, 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 of up to $10,000 to a franchisee. Amounts borrowed under the promissory note accrue interest at SOFR plus 4% and must be repaid no later than December 31, 2026. As of March 31, 2025 and December 31, 2024, $2,192 and $2,148, respectively, was issued and outstanding on the promissory note.
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 $1,693 and $1,461 for the three months ended March 31, 2025 and 2024, respectively.
A member of the Company’s board of directors, who is also the Company’s former interim Chief Executive Officer and 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 of approximately $147 and $65 during the three months ended March 31, 2025 and 2024, respectively.
v3.25.1
Stockholders' equity
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Stockholders' equity Stockholders’ equity
Pursuant to the exchange agreement between the Company and 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 March 31, 2025:
•Holders of Class A common stock owned 83,836,239 shares of Class A common stock, representing 99.6% of the voting power in the Company and, through the Company, 83,836,239 Holdings Units representing 99.6% of the economic interest in Pla-Fit Holdings; and
•the Continuing LLC Owners collectively owned 341,841 Holdings Units, representing 0.4% of the economic interest in Pla-Fit Holdings, and 341,841 shares of Class B common stock, representing 0.4% of the voting power in the Company.
Share repurchase program
2022 share repurchase program
On November 4, 2022, the Company’s board of directors approved a share repurchase program of up to $500,000, which replaced the 2019 share repurchase program. During the three months ended March 31, 2024, the Company repurchased and retired 313,834 shares of Class A common stock for a total cost of $20,005. A share repurchase excise tax of $163 was also incurred.
2024 share repurchase program
On June 13, 2024, the Company’s board of directors conditionally approved a share repurchase program of up to $500,000 (the “2024 Share Repurchase Program”) to replace the 2022 share repurchase program. The 2024 Share Repurchase Program became effective on September 16, 2024. During the three months ended March 31, 2025, the Company repurchased and retired 544,226 shares of Class A common stock for a total cost of $50,009. A share repurchase excise tax of $444 was also incurred. As of March 31, 2025, there is $449,991 remaining under the 2024 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 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 March 31, 2025 and December 31, 2024.
v3.25.1
Earnings per share
 3 Months Ended
Mar. 31, 2025
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 March 31,
 20252024
Numerator  
Net income$42,079 $34,973 
Less: net income attributable to non-controlling interests212 664 
Net income attributable to Planet Fitness, Inc.$41,867 $34,309 
Denominator
Weighted-average shares of Class A common stock outstanding - basic84,170,460 86,909,383 
Effect of dilutive securities:
Stock options40,975 223,244 
Restricted stock units126,762 63,276 
Performance stock units63,702 26,178 
Weighted-average shares of Class A common stock outstanding - diluted84,401,899 87,222,081 
Earnings per share of Class A common stock - basic$0.50 $0.39 
Earnings per share of Class A common stock - diluted$0.50 $0.39 
The number of weighted-average common stock equivalents excluded from the computation of diluted net income per share because either the effect would have been anti-dilutive, or the performance criteria related to the units had not yet been met, were as follows:
Three Months Ended March 31,
20252024
Class B common stock
341,841 1,176,568 
Stock options— 554 
Restricted stock units1,993 2 
Performance stock units1,909 — 
Total
345,743 1,177,124 
v3.25.1
Income taxes
 3 Months Ended
Mar. 31, 2025
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 27.4% and 28.4% for the three months ended March 31, 2025 and 2024, respectively, which differed from the U.S. federal statutory rate of 21% primarily due to state and local taxes and a remeasurement of deferred tax assets in the first quarter of fiscal 2024. The Company is also subject to taxes in foreign jurisdictions.
Net deferred tax assets of $457,712 and $468,811 as of March 31, 2025 and December 31, 2024, 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 March 31, 2025 and December 31, 2024, the total liability related to uncertain tax positions was $297. The Company recognizes accrued interest and penalties, if applicable, related to unrecognized tax benefits in income tax expense. Interest and penalties for the three months ended March 31, 2025 and 2024 were not material.
Tax benefit arrangements
The Company’s acquisition of Holdings Units in connection with the 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 that resulted from TSG’s 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.
In connection with the exchanges that occurred during the three months ended March 31, 2024, 326,073 Holding Units, respectively, were redeemed by the Continuing LLC Owners for newly-issued shares of Class A common stock, resulting in an increase in the tax basis of the net assets of Pla-Fit Holdings. As a result of the change in the Company’s ownership percentage of Pla-Fit Holdings that occurred in conjunction with the exchanges and issuance of Holding Units, the Company recorded a decrease of $400 to net deferred tax assets, during the three months ended March 31, 2024. As a result of these exchanges and other activity during the three months ended March 31, 2024, the Company also recognized a deferred tax asset in the amount of $7,519 and a corresponding tax benefit arrangement liability of $2,694, representing approximately 85% of the tax benefits due to the TRA Holders for shares exchanged that were subject to tax benefit arrangements. The offset to the entries recorded in connection with exchanges was to additional paid in capital within stockholders’ deficit.
The Company had a liability of $466,832 and $466,916 as of March 31, 2025 and December 31, 2024, respectively, related to its projected obligations under the tax benefit arrangements.
Projected future payments under the tax benefit arrangements were as follows:
 Amount
Remainder of 2025$55,556 
202655,824 
202739,975 
202842,506 
202944,252 
Thereafter228,719 
Total$466,832 
v3.25.1
Commitments and contingencies
 3 Months Ended
Mar. 31, 2025
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.
v3.25.1
Segments
 3 Months Ended
Mar. 31, 2025
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 March 31,
 20252024
Franchise$115,180 $104,020 
Corporate-owned clubs133,669 122,378 
Equipment27,813 21,619 
Total revenue$276,662 $248,017 
 Three Months Ended March 31,
 20252024
Franchise$84,865 $76,138 
Corporate-owned clubs45,849 42,398 
Equipment7,442 4,798 
Segment Adjusted EBITDA
$138,156 $123,334 
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:
 Three Months Ended March 31,
Franchise Segment20252024
Selling, general and administrative
$7,213 $6,785 
National advertising fund expense21,944 19,792 
Cost of revenue1,032 1,162 
Other segment expenses, net(1)
126 143 
Total$30,315 $27,882 
(1) Other segment expenses, net for the franchise segment includes other (gains) losses, net, and other income (expense), net.
 Three Months Ended March 31,
Corporate-owned Clubs Segment20252024
Club compensation and payroll(1)
$23,325 $21,222 
Rent & occupancy(1)
30,195 27,552 
Marketing(1)
15,086 15,838 
Operational and other(1)
11,261 9,495 
Selling, general and administrative3,702 3,595 
Other segment expenses, net(2)
4,252 2,276 
Total$87,820 $79,980 
(1) Club compensation and payroll, rent and occupancy, marketing, and operational and other are included within club operations expense in the 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, other income (expense), net, and all operating expenses associated with our operations in Spain.
 Three Months Ended March 31,
Equipment Segment20252024
Cost of revenue
$19,879 $16,171 
Other segment expenses, net(1)
492 649 
Total$20,371 $16,821 
(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 $19,057 and $21,959 for the three months ended March 31, 2025 and 2024, 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 March 31,
 20252024
Segment Adjusted EBITDA$138,156 $123,334 
Depreciation and amortization(38,281)(39,380)
Interest income5,812 5,461 
Interest expense(26,197)(21,433)
Losses from equity-method investments, net of tax805 1,200 
Corporate and other unallocated expenses, net(1)
(21,195)(18,685)
Income before income taxes$59,100 $50,497 
(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 March 31,
 20252024
United States$269,910 $238,103 
Rest of world6,752 9,914 
Total revenue$276,662 $248,017 

The following table summarizes geographic information about the Company’s long-lived assets, net, excluding goodwill and other intangible assets:
 March 31, 2025December 31, 2024
United States$894,593 $882,022 
Rest of world36,237 21,414 
Total long-lived assets, net$930,830 $903,436 
v3.25.1
Corporate-owned and franchisee-owned clubs
 3 Months Ended
Mar. 31, 2025
Franchisors [Abstract]  
Corporate-owned and franchisee-owned clubs Corporate-owned and franchisee-owned clubs
The following table shows changes in corporate-owned and franchisee-owned clubs:
 Three Months Ended March 31,
 20252024
Franchisee-owned clubs:
Clubs operated at beginning of period
2,445 2,319 
New clubs opened16 23 
Clubs debranded, sold, closed or consolidated(1)
— (1)
Clubs operated at end of period
2,461 2,341 
Corporate-owned clubs:
Clubs operated at beginning of period
277 256 
New clubs opened
3 2 
Clubs operated at end of period
280 258 
Total clubs:
Clubs operated at beginning of period
2,722 2,575 
New club opened
19 25 
Clubs debranded, sold, closed or consolidated(1)
— (1)
Clubs operated at end of period
2,741 2,599 
(1) The term “debranded” refers to a franchisee-owned club whose right to use the Planet Fitness brand and marks has been terminated in accordance with the franchise agreement. We retain the right to prevent debranded clubs from continuing to operate as fitness centers. The term “consolidated” refers to the combination of a franchisee’s club with another club located in close proximity with our prior approval. This often coincides with an enlargement, re-equipment and/or refurbishment of the remaining club.
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Pay vs Performance Disclosure    
Net Income (Loss) $ 41,867 $ 34,309
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2025
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
v3.25.1
Summary of significant accounting policies (Policies)
 3 Months Ended
Mar. 31, 2025
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 months ended March 31, 2025 and 2024 are unaudited. The condensed consolidated balance sheet as of December 31, 2024 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, 2024 filed with the SEC on February 25, 2025. The Company’s significant interim accounting policies include the proportional recognition of national advertising fund 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, 2025.
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. 2023-09, Improvements to Income Tax Disclosures, in December 2023. The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions and applies to all entities subject to income taxes. The new standard is effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of adoption on our financial disclosures.
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.
Held-to-maturity debt security
The Company has a debt security investment that consists of redeemable preferred shares with an original contractual maturity in 2026. 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 (“PD”) and loss-given-default (“LGD”) 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, current financial position, and forward-looking financial forecasts.
v3.25.1
Investments (Tables)
 3 Months Ended
Mar. 31, 2025
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 March 31, 2025, the marketable securities had maturity dates that range from less than one month to approximately 24 months. Realized gains and losses were insignificant for the three months ended March 31, 2025 and 2024.
Amortized CostUnrealized Gains (Losses), Net
Fair Value(1)
Level 1Level 2
March 31, 2025
Cash equivalents
Money market funds$1,153 $— $1,153 $1,153 $— 
Commercial paper1,998 — 1,998 — 1,998 
Total cash equivalents3,151 — 3,151 1,153 1,998 
Short-term marketable securities
Commercial paper6,428 4 6,432 — 6,432 
Corporate debt securities102,392 150 102,542 — 102,542 
U.S. government agency securities744 — 744 — 744 
Total short-term marketable securities109,564 154 109,718 — 109,718 
Long-term marketable securities
Corporate debt securities72,481 110 72,591 — 72,591 
U.S. government agency securities3,500 — 3,500 — 3,500 
Total long-term marketable securities75,981 110 76,091 — 76,091 
Total cash equivalents and marketable securities$188,696 $264 $188,960 $1,153 $187,807 
Amortized CostUnrealized Gains (Losses), Net
Fair Value(1)
Level 1Level 2
December 31, 2024
Cash equivalents
Money market funds$236 $— $236 $236 $— 
Commercial paper3,996 — 3,996 — 3,996 
U.S. treasury securities2,650 — 2,650 — 2,650 
Total cash equivalents6,882 — 6,882 236 6,646 
Short-term marketable securities
Commercial paper9,082 10 9,092 — 9,092 
Corporate debt securities98,915 181 99,096 — 99,096 
U.S. treasury securities1,999 — 1,999 — 1,999 
U.S. government agency securities3,971 5 3,976 — 3,976 
Total short-term marketable securities113,967 196 114,163 — 114,163 
Long-term marketable securities
Corporate debt securities62,728 (55)62,673 — 62,673 
U.S. government agency securities3,000 (5)2,995 — 2,995 
Total long-term marketable securities65,728 (60)65,668 — 65,668 
Total cash equivalents and marketable securities$186,577 $136 $186,713 $236 $186,477 
(1) Fair values were determined using market prices obtained from third-party pricing sources.
Schedule of Rollforward 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 March 31,
20252024
Beginning allowance for expected credit losses$18,834 $17,689 
Loss on adjustment of allowance for expected credit losses292 475 
Write-offs, net of recoveries— — 
Ending allowance for expected credit losses$19,126 $18,164 
v3.25.1
Goodwill and intangible assets (Tables)
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Changes in the carrying amount of goodwill by reportable segment were as follows:
FranchiseCorporate-owned ClubsEquipment
Amount
Goodwill at December 31, 2024
$16,938 $611,029 $92,666 $720,633 
Acquisitions
— 70 — 70 
Foreign currency translation
— 131 — 131 
Goodwill at March 31, 2025
$16,938 $611,230 $92,666 $720,834 
Schedule of Intangible Assets
A summary of intangible assets is as follows:
March 31, 2025December 31, 2024
Gross
carrying
amount		Accumulated
amortization
Net carrying
amount
Gross
carrying
amount		Accumulated
amortization
Net carrying
amount
Finite-lived intangible assets:
Customer relationships$199,043 $(183,834)$15,209 $199,043 $(183,046)$15,997 
Reacquired franchise rights274,708 (122,378)152,330 274,708 (113,987)160,721 
Total finite-lived intangible assets473,751 (306,212)167,539 473,751 (297,033)176,718 
Indefinite-lived intangible assets:
Trade and brand names146,600 — 146,600 146,600 — 146,600 
Total intangible assets$620,351 $(306,212)$314,139 $620,351 $(297,033)$323,318 
Schedule of Amortization Expense The anticipated amortization expense related to intangible assets to be recognized in future periods as of March 31, 2025 is as follows:
 Amount
Remainder of 2025$27,534 
202632,079 
202727,956 
202827,300 
202923,675 
Thereafter28,995 
Total$167,539 
v3.25.1
Long-term debt (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt consists of the following: 
 March 31, 2025December 31, 2024
2019-1 Class A-2 notes$521,125 $522,500 
2022-1 Class A-2-I notes412,250 413,312 
2022-1 Class A-2-II notes460,750 461,938 
2024-1 Class A-2-I notes
422,875 423,938 
2024-1 Class A-2-II notes
373,125 374,062 
Total debt, excluding deferred financing costs2,190,125 2,195,750 
Deferred financing costs, net of accumulated amortization(23,907)(25,221)
Total debt, net2,166,218 2,170,529 
Current portion of long-term debt22,500 22,500 
Long-term debt, net of current portion$2,143,718 $2,148,029 
Schedule of Future Annual Payments of Long-term Debt
Future principal payments of long-term debt as of March 31, 2025 are as follows: 
 Amount
Remainder of 2025$16,875 
2026427,312 
202718,250 
202818,250 
2029915,938 
Thereafter793,500 
Total$2,190,125 
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:
March 31, 2025December 31, 2024
Carrying value
Estimated fair value(1)
Carrying value
Estimated fair value(1)
Long-term debt
$2,190,125 $2,112,478 $2,195,750 $2,082,034 
(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. As such, the fair value of long-term debt is classified within Level 2, as defined under GAAP.
v3.25.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2025
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:
LeasesBalance Sheet ClassificationMarch 31, 2025December 31, 2024
Assets
OperatingRight of use asset, net$416,237 $395,174 
FinanceProperty and equipment, net 128 85 
Total lease assets$416,365 $395,259 
Liabilities
Current:
OperatingOther current liabilities$35,291 $37,031 
FinanceOther current liabilities62 70 
Noncurrent:
OperatingLease liabilities, net of current portion433,151 405,324 
FinanceOther liabilities69 20 
Total lease liabilities$468,573 $442,445 
Weighted-average remaining lease term - operating leases7.7 years7.7 years
Weighted-average discount rate - operating leases5.7%5.6%
Schedule of Components of Lease Cost
The components of lease cost were as follows:
Three Months Ended March 31,
20252024
Operating lease cost$19,205 $17,475 
Variable lease cost6,990 6,203 
Total lease cost$26,195 $23,678 
Supplemental disclosures of cash flow information related to leases were as follows:
Three Months Ended March 31,
20252024
Cash paid for lease liabilities, net
$14,071 $15,303 
Operating lease ROU assets obtained in exchange for operating lease liabilities
$33,098 $16,064 
Schedule of Supplemental Disclosures of Cash Flow Information Related to Leases
The components of lease cost were as follows:
Three Months Ended March 31,
20252024
Operating lease cost$19,205 $17,475 
Variable lease cost6,990 6,203 
Total lease cost$26,195 $23,678 
Supplemental disclosures of cash flow information related to leases were as follows:
Three Months Ended March 31,
20252024
Cash paid for lease liabilities, net
$14,071 $15,303 
Operating lease ROU assets obtained in exchange for operating lease liabilities
$33,098 $16,064 
Schedule of Maturities of Lease Liabilities
Maturities of lease liabilities as of March 31, 2025 were as follows:
Amount
Remainder of 2025$39,524 
202682,795 
202783,172 
202881,803 
202974,198 
Thereafter233,583 
Total lease payments$595,075 
Less: imputed interest(126,502)
Present value of lease liabilities$468,573 
Schedule of Maturities of Lease Liabilities
Maturities of lease liabilities as of March 31, 2025 were as follows:
Amount
Remainder of 2025$39,524 
202682,795 
202783,172 
202881,803 
202974,198 
Thereafter233,583 
Total lease payments$595,075 
Less: imputed interest(126,502)
Present value of lease liabilities$468,573 
v3.25.1
Revenue from contract with customers (Tables)
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Liabilities and Deferred Revenue
The following table reflects the change in contract liabilities between December 31, 2024 and March 31, 2025:
Amount
Balance at December 31, 2024
$94,101 
Revenue recognized that was included in the contract liability at the beginning of the year(37,624)
Increase, excluding amounts recognized as revenue during the period55,441 
Balance at March 31, 2025
$111,918 
Schedule of Remaining Performance Obligations
The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied, or partially unsatisfied, as of March 31, 2025. 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.
Contract liabilities to be recognized in:Amount
Remainder of 2025$76,388 
20267,988 
20273,705 
20283,355 
20292,924 
Thereafter17,558 
Total$111,918 
v3.25.1
Related party transactions (Tables)
 3 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
Activity with franchisees considered to be related parties is summarized below:
 Three Months Ended March 31,
 20252024
Franchise revenue
$2,226 $2,164 
Equipment revenue
110 4,002 
Total revenue from related parties$2,336 $6,166 
v3.25.1
Earnings per share (Tables)
 3 Months Ended
Mar. 31, 2025
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 March 31,
 20252024
Numerator  
Net income$42,079 $34,973 
Less: net income attributable to non-controlling interests212 664 
Net income attributable to Planet Fitness, Inc.$41,867 $34,309 
Denominator
Weighted-average shares of Class A common stock outstanding - basic84,170,460 86,909,383 
Effect of dilutive securities:
Stock options40,975 223,244 
Restricted stock units126,762 63,276 
Performance stock units63,702 26,178 
Weighted-average shares of Class A common stock outstanding - diluted84,401,899 87,222,081 
Earnings per share of Class A common stock - basic$0.50 $0.39 
Earnings per share of Class A common stock - diluted$0.50 $0.39 
Schedule Of Common Stock Equivalents Excluded From The 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 either the effect would have been anti-dilutive, or the performance criteria related to the units had not yet been met, were as follows:
Three Months Ended March 31,
20252024
Class B common stock
341,841 1,176,568 
Stock options— 554 
Restricted stock units1,993 2 
Performance stock units1,909 — 
Total
345,743 1,177,124 
v3.25.1
Income taxes (Tables)
 3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Future Payments Under Tax Benefit Arrangements
Projected future payments under the tax benefit arrangements were as follows:
 Amount
Remainder of 2025$55,556 
202655,824 
202739,975 
202842,506 
202944,252 
Thereafter228,719 
Total$466,832 
v3.25.1
Segments (Tables)
 3 Months Ended
Mar. 31, 2025
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 March 31,
 20252024
Franchise$115,180 $104,020 
Corporate-owned clubs133,669 122,378 
Equipment27,813 21,619 
Total revenue$276,662 $248,017 
 Three Months Ended March 31,
 20252024
Franchise$84,865 $76,138 
Corporate-owned clubs45,849 42,398 
Equipment7,442 4,798 
Segment Adjusted EBITDA
$138,156 $123,334 
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:
 Three Months Ended March 31,
Franchise Segment20252024
Selling, general and administrative
$7,213 $6,785 
National advertising fund expense21,944 19,792 
Cost of revenue1,032 1,162 
Other segment expenses, net(1)
126 143 
Total$30,315 $27,882 
(1) Other segment expenses, net for the franchise segment includes other (gains) losses, net, and other income (expense), net.
 Three Months Ended March 31,
Corporate-owned Clubs Segment20252024
Club compensation and payroll(1)
$23,325 $21,222 
Rent & occupancy(1)
30,195 27,552 
Marketing(1)
15,086 15,838 
Operational and other(1)
11,261 9,495 
Selling, general and administrative3,702 3,595 
Other segment expenses, net(2)
4,252 2,276 
Total$87,820 $79,980 
(1) Club compensation and payroll, rent and occupancy, marketing, and operational and other are included within club operations expense in the 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, other income (expense), net, and all operating expenses associated with our operations in Spain.
 Three Months Ended March 31,
Equipment Segment20252024
Cost of revenue
$19,879 $16,171 
Other segment expenses, net(1)
492 649 
Total$20,371 $16,821 
(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 March 31,
 20252024
Segment Adjusted EBITDA$138,156 $123,334 
Depreciation and amortization(38,281)(39,380)
Interest income5,812 5,461 
Interest expense(26,197)(21,433)
Losses from equity-method investments, net of tax805 1,200 
Corporate and other unallocated expenses, net(1)
(21,195)(18,685)
Income before income taxes$59,100 $50,497 
(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 March 31,
 20252024
United States$269,910 $238,103 
Rest of world6,752 9,914 
Total revenue$276,662 $248,017 

The following table summarizes geographic information about the Company’s long-lived assets, net, excluding goodwill and other intangible assets:
 March 31, 2025December 31, 2024
United States$894,593 $882,022 
Rest of world36,237 21,414 
Total long-lived assets, net$930,830 $903,436 
v3.25.1
Corporate-owned and franchisee-owned clubs (Tables)
 3 Months Ended
Mar. 31, 2025
Franchisors [Abstract]  
Schedule of Changes in Corporate-Owned and Franchisee-Owned Clubs
The following table shows changes in corporate-owned and franchisee-owned clubs:
 Three Months Ended March 31,
 20252024
Franchisee-owned clubs:
Clubs operated at beginning of period
2,445 2,319 
New clubs opened16 23 
Clubs debranded, sold, closed or consolidated(1)
— (1)
Clubs operated at end of period
2,461 2,341 
Corporate-owned clubs:
Clubs operated at beginning of period
277 256 
New clubs opened
3 2 
Clubs operated at end of period
280 258 
Total clubs:
Clubs operated at beginning of period
2,722 2,575 
New club opened
19 25 
Clubs debranded, sold, closed or consolidated(1)
— (1)
Clubs operated at end of period
2,741 2,599 
(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.
v3.25.1
Business organization (Details)
member in Millions
 3 Months Ended
Mar. 31, 2025
segment
state
store
member
Dec. 31, 2024
store
Mar. 31, 2024
store
Dec. 31, 2023
store
Aug. 05, 2015
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]          
Number of members | member 20.6        
Number of owned and franchised locations | store 2,741 2,722 2,599 2,575  
Number of states in which entity operates | state 50        
Number of reportable segments | segment 3        
Pla-Fit Holdings, LLC          
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]          
Percentage of voting power (in percentage) 100.00%       100.00%
Percentage of ownership (in percentage) 99.60%        
Economic interest 0.40%        
Planet Intermediate, LLC | Pla-Fit Holdings, LLC          
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]          
Percentage of ownership (in percentage)         100.00%
Planet Fitness Holdings, LLC | Planet Intermediate, LLC          
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]          
Percentage of ownership (in percentage)         100.00%
v3.25.1
Investments - Narrative (Details) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Schedule of Equity Method Investments [Line Items]      
Allowance for credit losses $ 0    
Credit loss on held-to-maturity investment 292,000 $ 475,000  
Amortized cost of held-to-maturity debt security investments 33,084,000   $ 32,523,000
Dividends accrued on held-to-maturity investment 561,000 528,000  
Losses from equity-method investments, net of tax $ 805,000 1,200,000  
Bravo Fit Holdings Pty Ltd      
Schedule of Equity Method Investments [Line Items]      
Ownership percentage 22.00%   22.00%
Total investment $ 12,821,000   $ 12,961,000
Underlying equity in net assets $ 5,635,000   $ 5,374,000
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life 9 years    
Losses from equity-method investments, net of tax $ 283,000 308,000  
Basis difference amortization $ 66,000 66,000  
Planet Fitmex, LLC      
Schedule of Equity Method Investments [Line Items]      
Ownership percentage 33.20%   33.20%
Total investment $ 48,478,000   $ 49,000,000
Underlying equity in net assets $ 20,349,000   $ 21,702,000
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life 9 years    
Losses from equity-method investments, net of tax $ 522,000 892,000  
Basis difference amortization $ 174,000 $ 163,000  
Minimum      
Schedule of Equity Method Investments [Line Items]      
Maturity dates 1 month    
Maximum      
Schedule of Equity Method Investments [Line Items]      
Maturity dates 24 months    
v3.25.1
Investments - Schedule of Amortized Cost, Gross Unrealized Gains (Losses), and Fair Value of Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Schedule of Equity Method Investments [Line Items]    
Amortized Cost $ 188,696 $ 186,577
Unrealized Gains (Losses), Net 264 136
Fair Value 188,960 186,713
Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 1,153 236
Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 187,807 186,477
Cash equivalents    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 3,151 6,882
Unrealized Gains (Losses), Net 0 0
Fair Value 3,151 6,882
Cash equivalents | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 1,153 236
Cash equivalents | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 1,998 6,646
Cash equivalents | Money market funds    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 1,153 236
Unrealized Gains (Losses), Net 0 0
Fair Value 1,153 236
Cash equivalents | Money market funds | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 1,153 236
Cash equivalents | Money market funds | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Cash equivalents | Commercial paper    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 1,998 3,996
Unrealized Gains (Losses), Net 0 0
Fair Value 1,998 3,996
Cash equivalents | Commercial paper | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Cash equivalents | Commercial paper | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 1,998 3,996
Cash equivalents | U.S. treasury securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost   2,650
Unrealized Gains (Losses), Net   0
Fair Value   2,650
Cash equivalents | U.S. treasury securities | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value   0
Cash equivalents | U.S. treasury securities | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value   2,650
Short-term marketable securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 109,564 113,967
Unrealized Gains (Losses), Net 154 196
Fair Value 109,718 114,163
Short-term marketable securities | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Short-term marketable securities | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 109,718 114,163
Short-term marketable securities | Commercial paper    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 6,428 9,082
Unrealized Gains (Losses), Net 4 10
Fair Value 6,432 9,092
Short-term marketable securities | Commercial paper | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Short-term marketable securities | Commercial paper | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 6,432 9,092
Short-term marketable securities | Corporate debt securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 102,392 98,915
Unrealized Gains (Losses), Net 150 181
Fair Value 102,542 99,096
Short-term marketable securities | Corporate debt securities | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Short-term marketable securities | Corporate debt securities | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 102,542 99,096
Short-term marketable securities | U.S. treasury securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost   1,999
Unrealized Gains (Losses), Net   0
Fair Value   1,999
Short-term marketable securities | U.S. treasury securities | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value   0
Short-term marketable securities | U.S. treasury securities | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value   1,999
Short-term marketable securities | U.S. government agency securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 744 3,971
Unrealized Gains (Losses), Net 0 5
Fair Value 744 3,976
Short-term marketable securities | U.S. government agency securities | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Short-term marketable securities | U.S. government agency securities | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 744 3,976
Long-term marketable securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 75,981 65,728
Unrealized Gains (Losses), Net 110 (60)
Fair Value 76,091 65,668
Long-term marketable securities | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Long-term marketable securities | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 76,091 65,668
Long-term marketable securities | Corporate debt securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 72,481 62,728
Unrealized Gains (Losses), Net 110 (55)
Fair Value 72,591 62,673
Long-term marketable securities | Corporate debt securities | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Long-term marketable securities | Corporate debt securities | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 72,591 62,673
Long-term marketable securities | U.S. government agency securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 3,500 3,000
Unrealized Gains (Losses), Net 0 (5)
Fair Value 3,500 2,995
Long-term marketable securities | U.S. government agency securities | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Long-term marketable securities | U.S. government agency securities | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value $ 3,500 $ 2,995
v3.25.1
Investments - Rollforward of Allowance for Expected Credit Losses on Held-to-maturity Investments (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward]    
Beginning allowance for expected credit losses $ 18,834 $ 17,689
Loss on adjustment of allowance for expected credit losses 292 475
Write-offs, net of recoveries 0 0
Ending allowance for expected credit losses $ 19,126 $ 18,164
v3.25.1
Goodwill and intangible assets - Schedule of Goodwill (Details) - USD ($)
$ in Thousands
 1 Months Ended 3 Months Ended
Dec. 31, 2024
Mar. 31, 2025
Goodwill [Roll Forward]    
Beginning balance   $ 720,633
Acquisitions $ 1,619 70
Foreign currency translation   131
Ending balance 720,633 720,834
Franchise    
Goodwill [Roll Forward]    
Beginning balance   16,938
Acquisitions   0
Foreign currency translation   0
Ending balance 16,938 16,938
Corporate-owned Clubs    
Goodwill [Roll Forward]    
Beginning balance   611,029
Acquisitions   70
Foreign currency translation   131
Ending balance 611,029 611,230
Equipment    
Goodwill [Roll Forward]    
Beginning balance   92,666
Acquisitions   0
Foreign currency translation   0
Ending balance $ 92,666 $ 92,666
v3.25.1
Goodwill and intangible assets - Additional Information (Details)
 1 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2024
USD ($)
store
Mar. 31, 2025
USD ($)
Mar. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
store
Goodwill and Intangible Assets Disclosure [Abstract]        
Clubs acquired | store 3     3
Acquisitions $ 1,619,000 $ 70,000    
Impairment charges   0   $ 0
Amortization of intangible assets   $ 9,189,000 $ 12,768,000  
v3.25.1
Goodwill and intangible assets - Schedule of Intangible Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Finite-lived intangible assets:    
Gross carrying amount $ 473,751 $ 473,751
Accumulated amortization (306,212) (297,033)
Total 167,539 176,718
Indefinite-lived intangible assets:    
Total intangible assets 620,351 620,351
Net carrying amount 314,139 323,318
Trade and brand names    
Indefinite-lived intangible assets:    
Indefinite-lived intangible assets 146,600 146,600
Customer relationships    
Finite-lived intangible assets:    
Gross carrying amount 199,043 199,043
Accumulated amortization (183,834) (183,046)
Total 15,209 15,997
Reacquired franchise rights    
Finite-lived intangible assets:    
Gross carrying amount 274,708 274,708
Accumulated amortization (122,378) (113,987)
Total $ 152,330 $ 160,721
v3.25.1
Goodwill and intangible assets - Schedule of Amortization Expense (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
Remainder of 2025 $ 27,534  
2026 32,079  
2027 27,956  
2028 27,300  
2029 23,675  
Thereafter 28,995  
Total $ 167,539 $ 176,718
v3.25.1
Long-term debt - Schedule of Long-term Debt (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs $ 2,190,125 $ 2,195,750
Deferred financing costs, net of accumulated amortization (23,907) (25,221)
Total debt, net 2,166,218 2,170,529
Current portion of long-term debt 22,500 22,500
Long-term debt, net of current portion 2,143,718 2,148,029
Senior Notes | 2019-1 Class A-2 notes    
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs 521,125 522,500
Senior Notes | 2022-1 Class A-2-I notes    
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs 412,250 413,312
Senior Notes | 2022-1 Class A-2-II notes    
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs 460,750 461,938
Senior Notes | 2024-1 Class A-2-I notes    
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs 422,875 423,938
Senior Notes | 2024-1 Class A-2-II notes    
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs $ 373,125 $ 374,062
v3.25.1
Long-term debt - Schedule of Future Annual Payments of Long-term Debt (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Debt Disclosure [Abstract]    
Remainder of 2025 $ 16,875  
2026 427,312  
2027 18,250  
2028 18,250  
2029 915,938  
Thereafter 793,500  
Total $ 2,190,125 $ 2,195,750
v3.25.1
Long-term debt - Schedule of Carrying Value and Estimated Fair Value of Long-term Debt (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Carrying value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 2,190,125 $ 2,195,750
Estimated fair value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 2,112,478 $ 2,082,034
v3.25.1
Leases - Schedule of Balance Sheet Classification of Lease Assets and Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets    
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Property and equipment, net of accumulated depreciation of $397,755 and $370,118, as of March 31, 2025 and December 31, 2024, respectively Property and equipment, net of accumulated depreciation of $397,755 and $370,118, as of March 31, 2025 and December 31, 2024, respectively
Operating $ 416,237 $ 395,174
Finance 128 85
Total lease assets $ 416,365 $ 395,259
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 $ 35,291 $ 37,031
Current finance lease liabilities 62 70
Noncurrent operating lease liabilities 433,151 405,324
Noncurrent finance lease liabilities 69 20
Total lease liabilities $ 468,573 $ 442,445
Weighted-average remaining lease term - operating leases 7 years 8 months 12 days 7 years 8 months 12 days
Weighted-average discount rate - operating leases 5.70% 5.60%
v3.25.1
Leases - Schedule of Components of Lease Cost (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Leases [Abstract]    
Operating lease cost $ 19,205 $ 17,475
Variable lease cost 6,990 6,203
Total lease cost $ 26,195 $ 23,678
v3.25.1
Leases - Schedule of Supplemental Disclosures of Cash Flow Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Leases [Abstract]    
Cash paid for lease liabilities, net $ 14,071 $ 15,303
Operating lease ROU assets obtained in exchange for operating lease liabilities $ 33,098 $ 16,064
v3.25.1
Leases - Schedule of Maturities of Lease Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Remainder of 2025 $ 39,524  
2026 82,795  
2027 83,172  
2028 81,803  
2029 74,198  
Thereafter 233,583  
Total lease payments 595,075  
Less: imputed interest (126,502)  
Present value of lease liabilities $ 468,573 $ 442,445
v3.25.1
Leases - Additional Information (Details)
$ in Thousands
Mar. 31, 2025
USD ($)
Leases [Abstract]  
Lease payments for leases signed but not yet commenced $ 36,565
v3.25.1
Revenue from contract with customers - Schedule of Contract Liabilities (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
USD ($)
Amount  
Beginning Balance $ 94,101
Revenue recognized that was included in the contract liability at the beginning of the year (37,624)
Increase, excluding amounts recognized as revenue during the period 55,441
Ending Balance $ 111,918
v3.25.1
Revenue from contract with customers - Schedule of Remaining Performance Obligation (Details)
$ in Thousands
Mar. 31, 2025
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 111,918
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 76,388
Remaining performance obligation, expected timing of satisfaction 9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 7,988
Remaining performance obligation, expected timing of satisfaction 1 year
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 $ 3,705
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 $ 3,355
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 $ 2,924
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 $ 17,558
Remaining performance obligation, expected timing of satisfaction
v3.25.1
Revenue from contract with customers - Additional Information (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
USD ($)
Revenue from Contract with Customer [Abstract]  
Equipment deposits $ 2,489
Deferred revenue expected recognition period (in months) 12 months
v3.25.1
Related party transactions - Schedule of Related Party Transactions (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Related Party Transaction [Line Items]    
Total revenue from related parties $ 276,662 $ 248,017
Related party    
Related Party Transaction [Line Items]    
Total revenue from related parties 2,336 6,166
Related party | Franchise revenue    
Related Party Transaction [Line Items]    
Total revenue from related parties 2,226 2,164
Related party | Equipment revenue    
Related Party Transaction [Line Items]    
Total revenue from related parties $ 110 $ 4,002
v3.25.1
Related party transactions - Additional Information (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
Nov. 30, 2024
USD ($)
Related Party Transaction [Line Items]        
Accounts receivable $ 38,643   $ 77,145  
Deferred revenue 111,918   94,101  
Accounts payable 25,757   32,887  
Total revenue 276,662 $ 248,017    
Related party        
Related Party Transaction [Line Items]        
Accounts receivable 3,087   6,198  
Total revenue 2,336 6,166    
Related party | Administrative Service        
Related Party Transaction [Line Items]        
Total revenue 1,693 1,461    
Affiliated entity        
Related Party Transaction [Line Items]        
Promissory note (up to)       $ 10,000
Interest rate       0.04
Promissory note issued and outstanding 2,192   2,148  
Equipment | Related party        
Related Party Transaction [Line Items]        
Total revenue 110 4,002    
Deferred ADA and franchise agreement revenue | Related party        
Related Party Transaction [Line Items]        
Deferred revenue 566   577  
Tax benefit arrangements | Related party        
Related Party Transaction [Line Items]        
Accounts payable 88,084   $ 88,099  
Amenity tracking compliance software | Related party | CEO        
Related Party Transaction [Line Items]        
Purchases from related party $ 147 $ 65    
Amenity tracking compliance software | Related party | Amenity Tracking Compliance Software Company | CEO        
Related Party Transaction [Line Items]        
Ownership percentage 10.50%      
v3.25.1
Stockholders' equity (Details) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Jun. 13, 2024
Dec. 31, 2023
Nov. 04, 2022
Class of Stock [Line Items]            
Repurchase and retirement of common stock $ 50,454,000 $ 20,169,000        
Preferred stock, shares authorized (in shares) 50,000,000   50,000,000      
Preferred stock, shares issued (in shares) 0   0      
Preferred stock, shares outstanding (in shares) 0   0      
Continuing LLC Owners | Secondary Offering and Exchange            
Class of Stock [Line Items]            
Number of units held by owners (in shares) 341,841          
Pla-Fit Holdings, LLC            
Class of Stock [Line Items]            
Economic interest 0.40%          
Pla-Fit Holdings, LLC | Continuing LLC Owners | Secondary Offering and Exchange            
Class of Stock [Line Items]            
Percentage of economic interest 0.40%          
Pla-Fit Holdings, LLC | Investor | Secondary Offering and Exchange            
Class of Stock [Line Items]            
Percentage of economic interest 99.60%          
Class A common stock            
Class of Stock [Line Items]            
Common stock, shares outstanding (in shares) 83,836,000   84,323,000      
Class A common stock | Common stock            
Class of Stock [Line Items]            
Common stock, shares outstanding (in shares) 83,836,000 86,832,000 84,323,000   86,760,000  
Repurchase and retirement of common stock (in shares) 544,000 314,000        
Class A common stock | Continuing LLC Owners | Investor            
Class of Stock [Line Items]            
Common stock, shares outstanding (in shares) 83,836,239          
Class A common stock | Common Stockholders | Investor | Common stock            
Class of Stock [Line Items]            
Common stock, shares outstanding (in shares) 83,836,239          
Class A common stock | Common Stockholders | Planet Fitness, Inc. | Investor | Common stock            
Class of Stock [Line Items]            
Economic interest 99.60%          
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) 342,000   342,000      
Class B common stock | Common stock            
Class of Stock [Line Items]            
Common stock, shares outstanding (in shares) 342,000 1,071,000 342,000   1,397,000  
Class B common stock | Continuing LLC Owners | Secondary Offering and Exchange            
Class of Stock [Line Items]            
Number of units held by owners (in shares) 341,841          
Class B common stock | Continuing LLC Owners | Pla-Fit Holdings, LLC | Continuing LLC Owners | Secondary Offering and Exchange            
Class of Stock [Line Items]            
Economic interest 0.40%          
Holdings Units            
Class of Stock [Line Items]            
Shares exchanged for Class A common stock (in shares) 1          
2022 share repurchase program            
Class of Stock [Line Items]            
Stock repurchase program, authorized amount           $ 500,000,000
Share repurchase excise tax   $ 163,000        
2022 share repurchase program | Class A common stock            
Class of Stock [Line Items]            
Repurchase and retirement of common stock (in shares)   313,834        
Repurchase and retirement of common stock   $ 20,005,000        
2024 Share Repurchase Program            
Class of Stock [Line Items]            
Stock repurchase program, authorized amount       $ 500,000    
Share repurchase excise tax $ 444,000          
Remaining authorized amount $ 449,991,000          
2024 Share Repurchase Program | Class A common stock            
Class of Stock [Line Items]            
Repurchase and retirement of common stock (in shares) 544,226          
Repurchase and retirement of common stock $ 50,009,000          
v3.25.1
Earnings per share - Additional Information (Details)
 3 Months Ended
Mar. 31, 2025
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
v3.25.1
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
Mar. 31, 2025
Mar. 31, 2024
Numerator    
Net income $ 42,079 $ 34,973
Less: net income attributable to non-controlling interests 212 664
Net income attributable to Planet Fitness, Inc. $ 41,867 $ 34,309
Stock options    
Effect of dilutive securities:    
Weighted-average shares outstanding adjustment (shares) 40,975 223,244
Restricted stock units    
Effect of dilutive securities:    
Weighted-average shares outstanding adjustment (shares) 126,762 63,276
Performance stock units    
Effect of dilutive securities:    
Weighted-average shares outstanding adjustment (shares) 63,702 26,178
Class A common stock    
Denominator    
Weighted-average shares of Class A common stock outstanding - basic (in shares) 84,170,460 86,909,383
Effect of dilutive securities:    
Weighted-average shares of Class A common stock outstanding - diluted (in shares) 84,401,899 87,222,081
Earnings per share of Class A common stock - basic (in usd per share) $ 0.50 $ 0.39
Earnings per share of Class A common stock - diluted (in usd per share) $ 0.50 $ 0.39
v3.25.1
Earnings per share - Schedule of Common Stock Equivalents Excluded From The Computation Of Diluted Net Income per Share (Details) - shares
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total 345,743 1,177,124
Class B common stock    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total 341,841 1,176,568
Stock options    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total 0 554
Restricted stock units    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total 1,993 2
Performance stock units    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total 1,909 0
v3.25.1
Income taxes - Additional information (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
USD ($)
agreement
Mar. 31, 2024
USD ($)
shares
Dec. 31, 2024
USD ($)
Tax Credit Carryforward [Line Items]      
Effective income tax rate 27.40% 28.40%  
Net deferred tax assets $ 457,712   $ 468,811
Total liability related to uncertain tax positions $ 297   297
Number of tax receivable agreements | agreement 2    
Applicable tax savings (in percentage)   85.00%  
Percentage of remaining tax savings 15.00%    
Tax benefit obligation $ 466,832   $ 466,916
Continuing LLC Owners      
Tax Credit Carryforward [Line Items]      
Decrease in deferred tax assets   $ (400)  
Deferred tax asset   7,519  
Deferred tax liability   $ 2,694  
Continuing LLC Owners | Class A common stock      
Tax Credit Carryforward [Line Items]      
Number of shares exchanged (in shares) | shares   326,073  
TRA Holders      
Tax Credit Carryforward [Line Items]      
Applicable tax savings (in percentage) 85.00%    
v3.25.1
Income taxes - Schedule of Future Payments Under Tax Benefit Arrangements (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Income Tax Disclosure [Abstract]    
Remainder of 2025 $ 55,556  
2026 55,824  
2027 39,975  
2028 42,506  
2029 44,252  
Thereafter 228,719  
Total $ 466,832 $ 466,916
v3.25.1
Segments - Additional Information (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
USD ($)
segment
Mar. 31, 2024
USD ($)
Segment Reporting Information [Line Items]    
Number of reportable segments | segment 3  
Corporate-owned clubs    
Segment Reporting Information [Line Items]    
Total | $ $ 19,057 $ 21,959
v3.25.1
Segments - Schedule of Financial Information for the Company's Reportable Segments (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting Information [Line Items]    
Total revenue $ 276,662 $ 248,017
Segment Adjusted EBITDA 138,156 123,334
Franchise    
Segment Reporting Information [Line Items]    
Total revenue 115,180 104,020
Segment Adjusted EBITDA 84,865 76,138
Corporate-owned clubs    
Segment Reporting Information [Line Items]    
Total revenue 133,669 122,378
Segment Adjusted EBITDA 45,849 42,398
Equipment    
Segment Reporting Information [Line Items]    
Total revenue 27,813 21,619
Segment Adjusted EBITDA $ 7,442 $ 4,798
v3.25.1
Segments- Schedule of Significant Expense Categories (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting, Other Significant Reconciling Item [Line Items]    
Selling, general and administrative $ 34,307 $ 29,193
National advertising fund expense 21,944 19,792
Cost of revenue 22,485 18,993
Total operating costs and expenses 197,460 182,195
Franchise    
Segment Reporting, Other Significant Reconciling Item [Line Items]    
Selling, general and administrative 7,213 6,785
National advertising fund expense 21,944 19,792
Cost of revenue 1,032 1,162
Segment Reporting, Other Segment Item, Amount 126 143
Total operating costs and expenses 30,315 27,882
Corporate-owned clubs    
Segment Reporting, Other Significant Reconciling Item [Line Items]    
Selling, general and administrative 3,702 3,595
Other segment expenses, net 4,252 2,276
Total operating costs and expenses 87,820 79,980
Club compensation and payroll 23,325 21,222
Rent & occupancy 30,195 27,552
Marketing 15,086 15,838
Operational and other 11,261 9,495
Total 19,057 21,959
Equipment    
Segment Reporting, Other Significant Reconciling Item [Line Items]    
Cost of revenue 19,879 16,171
Other segment expenses, net 492 649
Total $ 20,371 $ 16,821
v3.25.1
Segments - Schedule of Reconciliation of Total Segment Adjusted EBITDA to Income Before Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Segment Adjusted EBITDA $ 138,156 $ 123,334
Depreciation and amortization (38,281) (39,380)
Interest income 5,812 5,461
Interest expense (26,197) (21,433)
Losses from equity-method investments, net of tax 805 1,200
Income before income taxes 59,100 50,497
Operating Segments    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Segment Adjusted EBITDA 138,156 123,334
Corporate and Other    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Depreciation and amortization (38,281) (39,380)
Interest income 5,812 5,461
Interest expense (26,197) (21,433)
Losses from equity-method investments, net of tax 805 1,200
Corporate and other unallocated expenses, net $ (21,195) $ (18,685)
v3.25.1
Segments - Schedule of Geographical Revenue & Long- Lived Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue $ 276,662 $ 248,017  
Total long-lived assets, net 930,830   $ 903,436
United States      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue 269,910 238,103  
Total long-lived assets, net 894,593   882,022
Rest of world      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue 6,752 $ 9,914  
Total long-lived assets, net $ 36,237   $ 21,414
v3.25.1
Corporate-owned and franchisee-owned clubs - Schedule of Changes in Corporate-owned and Franchisee-owned Clubs (Details) - store
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Number Of Stores [Roll Forward]    
Clubs operated at beginning of period 2,722 2,575
New clubs opened 19 25
Clubs debranded, sold, closed or consolidated 0 (1)
Clubs operated at end of period 2,741 2,599
Franchisee-owned clubs:    
Number Of Stores [Roll Forward]    
Clubs operated at beginning of period 2,445 2,319
New clubs opened 16 23
Clubs debranded, sold, closed or consolidated 0 (1)
Clubs operated at end of period 2,461 2,341
Corporate-owned clubs:    
Number Of Stores [Roll Forward]    
Clubs operated at beginning of period 277 256
New clubs opened 3 2
Clubs operated at end of period 280 258