PLANET FITNESS, INC., 10-Q filed on 8/7/2025
Quarterly Report
v3.25.2
Cover - shares
 6 Months Ended
Jun. 30, 2025
Aug. 01, 2025
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 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, $0.0001 Par Value  
Trading Symbol PLNT  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Amendment Flag false  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q2  
Entity Central Index Key 0001637207  
Current Fiscal Year End Date --12-31  
Class A common stock    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   83,917,428
Class B common stock    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   316,128
v3.25.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 335,723 $ 293,150
Restricted cash 56,452 56,524
Short-term marketable securities 106,998 114,163
Accounts receivable, net of allowances for uncollectible amounts of $32 and $30 as of June 30, 2025 and December 31, 2024, respectively 72,847 77,145
Inventory 4,347 6,146
Restricted assets - national advertising fund 9,071 0
Prepaid expenses 19,202 21,499
Other receivables 24,954 16,776
Income tax receivable and prepayments 7,788 2,616
Total current assets 637,382 588,019
Long-term marketable securities 83,327 65,668
Investments, net of allowance for expected credit losses of $23,437 and $18,834 as of June 30, 2025 and December 31, 2024, respectively 70,896 75,650
Property and equipment, net of accumulated depreciation of $425,101 and $370,118, as of June 30, 2025 and December 31, 2024, respectively 430,387 423,991
Right-of-use assets, net 417,573 395,174
Intangible assets, net 304,961 323,318
Goodwill 721,118 720,633
Deferred income taxes 443,082 470,197
Other assets, net 10,426 7,058
Total assets 3,119,152 3,069,708
Current liabilities:    
Current maturities of long-term debt 22,500 22,500
Accounts payable 49,128 32,887
Accrued expenses 57,768 67,895
Equipment deposits 7,860 1,851
Deferred revenue, current 77,309 62,111
Payable pursuant to tax benefit arrangements, current 55,044 55,556
Other current liabilities 40,581 39,695
Total current liabilities 310,190 282,495
Long-term debt, net of current maturities 2,139,418 2,148,029
Lease liabilities, net of current portion 432,950 405,324
Deferred revenue, net of current portion 30,752 31,990
Deferred tax liabilities 1,250 1,386
Payable pursuant to tax benefit arrangements, net of current portion 358,569 411,360
Other liabilities 4,304 4,497
Total noncurrent liabilities 2,967,243 3,002,586
Commitments and contingencies (Note 12)
Stockholders’ equity (deficit):    
Accumulated other comprehensive income (loss) 1,010 (2,348)
Additional paid in capital 615,040 609,115
Accumulated deficit (774,753) (822,156)
Total stockholders’ deficit attributable to Planet Fitness, Inc. (158,694) (215,380)
Non-controlling interests 413 7
Total stockholders’ deficit (158,281) (215,373)
Total liabilities and stockholders’ deficit 3,119,152 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
v3.25.2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)
shares in Thousands, $ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Accounts receivable, allowance for bad debts $ 32 $ 30
Allowance for expected credit loss 23,437 18,834
Accumulated depreciation $ 425,101 $ 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) 83,907 84,323
Common stock, shares outstanding (in shares) 83,907 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) 316 342
Common stock, shares outstanding (in shares) 316 342
v3.25.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue:        
Total revenue $ 340,879 $ 300,941 $ 617,541 $ 548,958
Operating costs and expenses:        
Cost of revenue 59,423 51,934 81,908 70,927
Club operations 77,437 70,152 159,117 144,505
Selling, general and administrative 35,511 31,613 69,818 60,806
National advertising fund expense 22,777 20,112 44,721 39,904
Depreciation and amortization 38,429 39,817 76,710 79,197
Other losses (gains), net 4,900 (66) 3,663 418
Total operating costs and expenses 238,477 213,562 435,937 395,757
Income from operations 102,402 87,379 181,604 153,201
Other income (expense), net:        
Interest income 5,690 5,616 11,502 11,077
Interest expense (26,181) (24,533) (52,378) (45,966)
Other income, net 1,942 1,043 2,225 1,690
Total other expense, net (18,549) (17,874) (38,651) (33,199)
Income before income taxes 83,853 69,505 142,953 120,002
Provision for income taxes 24,930 18,977 41,146 33,301
Losses from equity-method investments, net of tax (628) (1,216) (1,433) (2,416)
Net income 58,295 49,312 100,374 84,285
Less: net income attributable to non-controlling interests 276 672 488 1,336
Net income attributable to Planet Fitness, Inc. $ 58,019 $ 48,640 $ 99,886 $ 82,949
Class A common stock        
Net income per share of Class A common stock:        
Basic (in usd per share) $ 0.69 $ 0.56 $ 1.19 $ 0.95
Diluted (in usd per share) $ 0.69 $ 0.56 $ 1.19 $ 0.95
Weighted-average shares of Class A common stock outstanding:        
Basic (in shares) 83,861,016 86,808,695 84,014,883 86,859,039
Diluted (in shares) 84,065,228 86,955,179 84,232,536 87,083,282
Franchise        
Revenue:        
Total revenue $ 96,877 $ 87,676 $ 190,117 $ 171,910
National advertising fund revenue        
Revenue:        
Total revenue 22,781 20,114 44,721 39,900
Corporate-owned clubs        
Revenue:        
Total revenue 138,989 125,466 272,658 247,844
Equipment        
Revenue:        
Total revenue $ 82,232 $ 67,685 $ 110,045 $ 89,304
v3.25.2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Statement of Comprehensive Income [Abstract]        
Net income including non-controlling interests $ 58,295 $ 49,312 $ 100,374 $ 84,285
Other comprehensive income (loss), net:        
Foreign currency translation adjustments 2,378 (477) 3,246 (689)
Unrealized loss (gain) on marketable securities, net of tax (16) (184) 112 (579)
Total other comprehensive income (loss), net 2,362 (661) 3,358 (1,268)
Total comprehensive income including non-controlling interests 60,657 48,651 103,732 83,017
Less: total comprehensive income attributable to non-controlling interests 276 672 488 1,336
Total comprehensive income attributable to Planet Fitness, Inc. $ 60,381 $ 47,979 $ 103,244 $ 81,681
v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 100,374 $ 84,285
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 76,710 79,197
Equity-based compensation expense 6,138 2,847
Deferred tax expense 27,619 26,761
Amortization of deferred financing costs 2,639 2,634
Loss on extinguishment of debt 0 2,285
Accretion of marketable securities discount (837) (1,879)
Losses from equity-method investments, net of tax 1,433 2,416
Dividends accrued on held-to-maturity investment (1,139) (1,065)
Credit loss on held-to-maturity investment 4,603 557
Gain on re-measurement of tax benefit arrangement liability (1,294) (1,349)
Gain on insurance proceeds (1,460) 0
Other 210 1,300
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 4,747 380
Inventory 1,799 (544)
Other assets and other current assets (5,400) (6,313)
Restricted assets - national advertising fund (9,023) (12,268)
Accounts payable and accrued expenses 1,317 (3,302)
Other liabilities and other current liabilities (427) (699)
Income taxes (4,753) (2,632)
Payments pursuant to tax benefit arrangements (52,740) (28,786)
Equipment deposits 6,009 632
Deferred revenue 13,770 18,653
Leases 7,599 4,838
Net cash provided by operating activities 177,894 167,948
Cash flows from investing activities:    
Additions to property and equipment (58,801) (64,345)
Insurance proceeds for property and equipment 2,053 0
Payment of deferred consideration for acquired clubs (1,539) 0
Purchases of marketable securities (81,958) (73,930)
Maturities of marketable securities 71,954 47,839
Issuance of note receivable, related party (2,639) 0
Other investing activity (32) 0
Net cash used in investing activities (70,962) (90,436)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 0 800,000
Repayment of long-term debt (11,250) (599,437)
Payment of deferred financing and other debt-related costs 0 (12,055)
Proceeds from issuance of Class A common stock 1,177 9,808
Repurchase and retirement of Class A common stock (52,085) (300,205)
Principal payments on capital lease obligations (51) (72)
Payment of share repurchase excise tax (2,549) 0
Distributions paid to members of Pla-Fit Holdings (1,331) (1,732)
Net cash used in financing activities (66,089) (103,693)
Effects of exchange rate changes on cash and cash equivalents 1,658 (1,179)
Net increase (decrease) in cash, cash equivalents and restricted cash 42,501 (27,360)
Cash, cash equivalents and restricted cash, beginning of period 349,674 322,121
Cash, cash equivalents and restricted cash, end of period 392,175 294,761
Supplemental cash flow information:    
Cash paid for interest 50,067 40,814
Net cash paid for income taxes 18,285 9,168
Non-cash investing activities:    
Non-cash additions to property and equipment included in accounts payable and accrued expenses $ 16,667 $ 18,645
v3.25.2
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 84,285             82,949 1,336
Equity-based compensation expense 2,847           2,847    
Repurchase and retirement of Class A common stock (in shares)       (3,404)          
Repurchase and retirement of Class A common stock (302,114)           2,363 (302,114) (2,363)
Exchanges of Class B common stock and other adjustments (in shares)       747 (747)        
Exchanges of Class B common stock and other adjustments 0           (2,925)   2,925
Issuance of shares under equity-based compensation plans (in shares)       393          
Issuance of shares under equity-based compensation plans 9,540           9,540    
Tax benefit arrangement liability and deferred taxes arising from exchanges of Class B common stock 5,893           5,893    
Distributions paid to members of Pla-Fit Holdings (1,732)               (1,732)
Issuance of subsidiary stock to non-controlling interest 1,710           700   1,010
Other comprehensive income (loss) (1,268)         (1,268)      
Ending balance (in shares) at Jun. 30, 2024       84,496 650        
Ending balance at Jun. 30, 2024 (319,830)     $ 9 $ 0 (1,096) 594,049 (910,626) (2,166)
Beginning balance (in shares) at Mar. 31, 2024       86,832 1,071        
Beginning balance at Mar. 31, 2024 (99,231)     $ 9 $ 0 (435) 581,332 (677,321) (2,816)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 49,312             48,640 672
Equity-based compensation expense 1,872           1,872    
Repurchase and retirement of Class A common stock (in shares)       (3,090)          
Repurchase and retirement of Class A common stock (281,945)           1,589 (281,945) (1,589)
Exchanges of Class B common stock and other adjustments (in shares)       421 (421)        
Exchanges of Class B common stock and other adjustments 0           (2,071)   2,071
Issuance of shares under equity-based compensation plans (in shares)       333          
Issuance of shares under equity-based compensation plans 9,159           9,159    
Tax benefit arrangement liability and deferred taxes arising from exchanges of Class B common stock 1,468           1,468    
Distributions paid to members of Pla-Fit Holdings (1,514)               (1,514)
Issuance of subsidiary stock to non-controlling interest 1,710           700   1,010
Other comprehensive income (loss) (661)         (661)      
Ending balance (in shares) at Jun. 30, 2024       84,496 650        
Ending balance at Jun. 30, 2024 (319,830)     $ 9 $ 0 (1,096) 594,049 (910,626) (2,166)
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 100,374             99,886 488
Equity-based compensation expense 6,138           6,138    
Repurchase and retirement of Class A common stock (in shares)       (566)          
Repurchase and retirement of Class A common stock (52,483)           (1,186) (52,483) 1,186
Exchanges of Class B common stock and other adjustments (in shares)       26 (26)        
Exchanges of Class B common stock and other adjustments 0           (63)   63
Issuance of shares under equity-based compensation plans (in shares)       124          
Issuance of shares under equity-based compensation plans 867           867    
Tax benefit arrangement liability and deferred taxes arising from exchanges of Class B common stock 169           169    
Distributions paid to members of Pla-Fit Holdings (1,331)               (1,331)
Other comprehensive income (loss) 3,358         3,358      
Ending balance (in shares) at Jun. 30, 2025   83,907 316 83,907 316        
Ending balance at Jun. 30, 2025 (158,281)     $ 9 $ 0 1,010 615,040 (774,753) 413
Beginning balance (in shares) at Mar. 31, 2025       83,836 342        
Beginning balance at Mar. 31, 2025 (219,864)     $ 9 $ 0 (1,352) 612,196 (830,743) 26
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 58,295             58,019 276
Equity-based compensation expense 3,507           3,507    
Repurchase and retirement of Class A common stock (in shares)       (22)          
Repurchase and retirement of Class A common stock (2,029)           (1,030) (2,029) 1,030
Exchanges of Class B common stock and other adjustments (in shares)       26 (26)        
Exchanges of Class B common stock and other adjustments 0           (63)   63
Issuance of shares under equity-based compensation plans (in shares)       67          
Issuance of shares under equity-based compensation plans 327           327    
Tax benefit arrangement liability and deferred taxes arising from exchanges of Class B common stock 103           103    
Distributions paid to members of Pla-Fit Holdings (982)               (982)
Other comprehensive income (loss) 2,362         2,362      
Ending balance (in shares) at Jun. 30, 2025   83,907 316 83,907 316        
Ending balance at Jun. 30, 2025 $ (158,281)     $ 9 $ 0 $ 1,010 $ 615,040 $ (774,753) $ 413
v3.25.2
Business organization
 6 Months Ended
Jun. 30, 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 20.8 million members and 2,762 owned and franchised locations (referred to as clubs) in all 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico, Australia and Spain as of June 30, 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 “2012 Acquisition”).
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 June 30, 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.
v3.25.2
Summary of significant accounting policies
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 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 condensed consolidated balance sheet.
(d) Reclassification
Certain amounts have been reclassified to conform to current year presentation.
(e) Recent accounting pronouncements
The FASB issued ASU No. 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.
v3.25.2
Investments
 6 Months Ended
Jun. 30, 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 June 30, 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 and six months ended June 30, 2025 and 2024.
Amortized CostUnrealized (Losses) Gains, Net
Fair Value(1)
Level 1Level 2
June 30, 2025
Cash equivalents
Money market funds$710 $— $710 $710 $— 
Total cash equivalents710 — 710 710 — 
Short-term marketable securities
Commercial paper7,916 (4)7,912 — 7,912 
Corporate debt securities98,228 107 98,335 — 98,335 
U.S. government agency securities751 — 751 — 751 
Total short-term marketable securities106,895 103 106,998 — 106,998 
Long-term marketable securities
Corporate debt securities71,732 149 71,881 — 71,881 
U.S. government agency securities11,450 (4)11,446 — 11,446 
Total long-term marketable securities83,182 145 83,327 — 83,327 
Total cash equivalents and marketable securities$190,787 $248 $191,035 $710 $190,325 
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 June 30, 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, subject to subordination clauses that could push maturity to 2030. The investment is classified as held-to-maturity and measured at amortized cost within investments in the condensed consolidated balance sheets. The Company reviews its held-to-maturity securities for expected credit losses under ASC Topic 326, Financial Instruments – Credit Losses, on an ongoing basis.
The Company utilizes probability-of-default and loss-given-default methodologies to estimate the allowance for expected credit losses using historical lifetime loss information for assets with similar risk characteristics, adjusted for management’s expectations. Adjustments for management’s expectations were based on the investee’s recent financial results, current financial position, and forward-looking financial forecasts. Based upon its analysis, the Company recorded a credit loss expense of $4,311 and $82 during the three months ended June 30, 2025 and 2024, respectively, and $4,603 and $557 during the six months ended June 30, 2025 and 2024, respectively, on the adjustment of its allowance for credit losses within other income, 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 $33,662 and $32,523 as of June 30, 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 $578 and $537 during the three months ended June 30, 2025 and 2024, respectively, and $1,139 and $1,065 during the six months ended June 30, 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 June 30,Six Months Ended June 30,
2025202420252024
Beginning allowance for expected credit losses$19,126 $18,164 $18,834 $17,689 
Loss on adjustment of allowance for expected credit losses4,311 82 4,603 557 
Write-offs, net of recoveries— — — — 
Ending allowance for expected credit losses$23,437 $18,246 $23,437 $18,246 
Equity method investments
For the following investments, the Company recorded its proportionate share of the investees’ earnings, prepared in accordance with GAAP, on a one-month lag, with adjustments to eliminate unrealized profits on intra-entity sales, if any, and the amortization of basis differences, within losses from equity-method investments, net of tax on the condensed consolidated statements of operations. As of June 30, 2025, the Company determined that no impairment of its equity method investments existed.
As of June 30, 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 $12,674 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 $5,018 and $5,374 as of June 30, 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 $147 and $158 during the three months ended June 30, 2025 and 2024, respectively, and $430 and $466 during the six months ended June 30, 2025 and 2024, respectively, which included the amortization of basis difference of $66 during both the three months ended June 30, 2025 and 2024, and $132 during both the six months ended June 30, 2025 and 2024.
As of June 30, 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 $47,997 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 $18,757 and $21,702 as of June 30, 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 $481 and $1,058 during the three months ended June 30, 2025 and 2024, respectively, and $1,003 and $1,950 during the six months ended June 30, 2025 and 2024, respectively, which included the amortization of basis difference of $174 during both the three months ended June 30, 2025 and 2024, and $348 and $337 during the six months ended June 30, 2025 and 2024, respectively.
v3.25.2
Goodwill and intangible assets
 6 Months Ended
Jun. 30, 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
— 415 — 415 
Goodwill at June 30, 2025
$16,938 $611,514 $92,666 $721,118 
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 six months ended June 30, 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:
June 30, 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 $(184,623)$14,420 $199,043 $(183,046)$15,997 
Reacquired franchise rights274,708 (130,767)143,941 274,708 (113,987)160,721 
Total finite-lived intangible assets473,751 (315,390)158,361 473,751 (297,033)176,718 
Indefinite-lived intangible assets:
Trade and brand names146,600 — 146,600 146,600 — 146,600 
Total intangible assets$620,351 $(315,390)$304,961 $620,351 $(297,033)$323,318 
The Company determined that no impairment charges were required during any of the periods presented.
Amortization expense related to the finite-lived intangible assets totaled $9,189 and $12,768 during the three months ended June 30, 2025 and 2024, respectively, and $18,378 and $25,536 during the six months ended June 30, 2025 and 2024, respectively. The anticipated amortization expense related to intangible assets to be recognized in future periods as of June 30, 2025 is as follows:
 Amount
Remainder of 2025$18,356 
202632,079 
202727,956 
202827,300 
202923,675 
Thereafter28,995 
Total$158,361 
v3.25.2
Long-term debt
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Long-term debt Long-term debt
Long-term debt consists of the following: 
 June 30, 2025December 31, 2024
2019-1 Class A-2 notes$519,750 $522,500 
2022-1 Class A-2-I notes411,188 413,312 
2022-1 Class A-2-II notes459,562 461,938 
2024-1 Class A-2-I notes421,812 423,938 
2024-1 Class A-2-II notes372,188 374,062 
Total debt, excluding deferred financing costs2,184,500 2,195,750 
Deferred financing costs, net of accumulated amortization(22,582)(25,221)
Total debt, net2,161,918 2,170,529 
Current portion of long-term debt22,500 22,500 
Long-term debt, net of current portion$2,139,418 $2,148,029 
Future principal payments of long-term debt as of June 30, 2025 are as follows: 
 Amount
Remainder of 2025$11,250 
2026427,312 
202718,250 
202818,250 
2029915,938 
Thereafter793,500 
Total$2,184,500 
The carrying value and estimated fair value of long-term debt were as follows:
June 30, 2025December 31, 2024
Carrying value
Estimated fair value(1)
Carrying value
Estimated fair value(1)
Long-term debt$2,184,500 $2,128,047 $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.
v3.25.2
Leases
 6 Months Ended
Jun. 30, 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 ClassificationJune 30, 2025December 31, 2024
Assets
OperatingRight of use asset, net$417,573 $395,174 
FinanceProperty and equipment, net 264 85 
Total lease assets$417,837 $395,259 
Liabilities
Current:
OperatingOther current liabilities$39,212 $37,031 
FinanceOther current liabilities86 70 
Noncurrent:
OperatingLease liabilities, net of current portion432,950 405,324 
FinanceOther liabilities182 20 
Total lease liabilities$472,430 $442,445 
Weighted-average remaining lease term - operating leases7.8 years7.7 years
Weighted-average discount rate - operating leases5.8%5.6%
The components of lease cost were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Operating lease cost$19,663 $18,006 $38,886 $35,520 
Variable lease cost7,478 6,472 14,449 12,635 
Total lease cost$27,141 $24,478 $53,335 $48,155 
The Company’s costs related to short-term leases, those with a duration between one and twelve months, were immaterial.
Supplemental disclosures of cash flow information related to leases were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Cash paid for lease liabilities$16,843 $15,228 $31,257 $30,570 
Operating lease ROU assets obtained in exchange for operating lease liabilities, excluding acquisitions$13,399 $20,073 $46,509 $36,659 
Maturities of lease liabilities as of June 30, 2025 were as follows:
Amount
Remainder of 2025$37,947 
202681,417 
202784,686 
202884,374 
202977,518 
Thereafter243,137 
Total lease payments$609,079 
Less: imputed interest(136,649)
Present value of lease liabilities$472,430 
As of June 30, 2025, future operating lease payments exclude approximately $41,766 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 ClassificationJune 30, 2025December 31, 2024
Assets
OperatingRight of use asset, net$417,573 $395,174 
FinanceProperty and equipment, net 264 85 
Total lease assets$417,837 $395,259 
Liabilities
Current:
OperatingOther current liabilities$39,212 $37,031 
FinanceOther current liabilities86 70 
Noncurrent:
OperatingLease liabilities, net of current portion432,950 405,324 
FinanceOther liabilities182 20 
Total lease liabilities$472,430 $442,445 
Weighted-average remaining lease term - operating leases7.8 years7.7 years
Weighted-average discount rate - operating leases5.8%5.6%
The components of lease cost were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Operating lease cost$19,663 $18,006 $38,886 $35,520 
Variable lease cost7,478 6,472 14,449 12,635 
Total lease cost$27,141 $24,478 $53,335 $48,155 
The Company’s costs related to short-term leases, those with a duration between one and twelve months, were immaterial.
Supplemental disclosures of cash flow information related to leases were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Cash paid for lease liabilities$16,843 $15,228 $31,257 $30,570 
Operating lease ROU assets obtained in exchange for operating lease liabilities, excluding acquisitions$13,399 $20,073 $46,509 $36,659 
Maturities of lease liabilities as of June 30, 2025 were as follows:
Amount
Remainder of 2025$37,947 
202681,417 
202784,686 
202884,374 
202977,518 
Thereafter243,137 
Total lease payments$609,079 
Less: imputed interest(136,649)
Present value of lease liabilities$472,430 
As of June 30, 2025, future operating lease payments exclude approximately $41,766 of legally binding minimum lease payments for leases signed but not yet commenced.
v3.25.2
Revenue from contract with customers
 6 Months Ended
Jun. 30, 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 June 30, 2025:
Amount
Balance at December 31, 2024
$94,101 
Revenue recognized that was included in the contract liability at the beginning of the year(51,063)
Increase, excluding amounts recognized as revenue during the period65,023 
Balance at June 30, 2025
$108,061 
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 June 30, 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$64,158 
202615,875 
20273,711 
20283,379 
20292,987 
Thereafter17,951 
Total$108,061 
Equipment deposits received in advance of delivery as of June 30, 2025 were $7,860 and are expected to be recognized as revenue within the next 12 months.
v3.25.2
Related party transactions
 6 Months Ended
Jun. 30, 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 June 30,Six Months Ended June 30,
 2025202420252024
Franchise revenue
$2,162 $1,837 $4,388 $4,001 
Equipment revenue
731 1,441 841 5,443 
Total revenue from related parties$2,893 $3,278 $5,229 $9,444 
The Company had $1,777 and $6,198 of accounts receivable attributable to related parties as of June 30, 2025 and December 31, 2024, respectively.
Additionally, the Company had deferred ADA and franchise agreement revenue from related parties of $577 as of both June 30, 2025 and December 31, 2024.
As of June 30, 2025 and December 31, 2024, the Company had $84,038 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 June 30, 2025 and December 31, 2024, $4,913 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 $1,522 and $1,337 during the three months ended June 30, 2025 and 2024, respectively, and $3,215 and $2,798 during the six months ended June 30, 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 $97 and $106 during the three months ended June 30, 2025 and 2024, and $244 and $171 during the six months ended June 30, 2025 and 2024, respectively.
v3.25.2
Stockholders' equity
 6 Months Ended
Jun. 30, 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 June 30, 2025:
•Holders of Class A common stock owned 83,906,665 shares of Class A common stock, representing 99.6% of the voting power in the Company and, through the Company, 83,906,665 Holdings Units representing 99.6% of the economic interest in Pla-Fit Holdings; and
•the Continuing LLC Owners collectively owned 316,128 Holdings Units, representing 0.4% of the economic interest in Pla-Fit Holdings, and 316,128 shares of Class B common stock, representing 0.4% of the voting power in the Company.
Share repurchase program
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.
On June 12, 2024, the Company entered into a $280,000 accelerated share repurchase agreement (the “ASR Agreement”) with Citibank, N.A. (the “Bank”). Final settlement of the ASR Agreement occurred on September 16, 2024. During the term of the ASR Agreement, the Company repurchased and retired 3,758,939 shares of Class A common stock.
Additionally, prior to entry into the ASR Agreement, during the six months ended June 30, 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 $1,908 was recorded in connection with the Company’s share repurchases during the six months ended June 30, 2024.
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 June 30, 2025, the Company repurchased and retired 21,519 shares of Class A common stock for a total cost of $2,075. During the six months ended June 30, 2025, the Company repurchased and retired 565,745 shares of Class A common stock for a total cost of $52,075. A share repurchase excise tax of $398 was recorded in connection with the Company’s share repurchases during the six months ended June 30, 2025. As of June 30, 2025, there is $447,925 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 Company’s securitized senior notes. Purchases may be effected through one or more open market transactions, privately negotiated transactions, transactions structured through investment banking institutions, or a combination of the foregoing.
Preferred stock
The Company had 50,000,000 shares of preferred stock authorized and none issued or outstanding as of June 30, 2025 and December 31, 2024.
v3.25.2
Earnings per share
 6 Months Ended
Jun. 30, 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 June 30,Six Months Ended June 30,
 2025202420252024
Numerator  
Net income$58,295 $49,312 $100,374 $84,285 
Less: net income attributable to non-controlling interests276 672 488 1,336 
Net income attributable to Planet Fitness, Inc.$58,019 $48,640 $99,886 $82,949 
Denominator
Weighted-average shares of Class A common stock outstanding - basic83,861,016 86,808,695 84,014,883 86,859,039 
Effect of dilutive securities:
Stock options40,219 85,161 40,478 153,646 
Restricted stock units110,414 31,508 117,345 44,012 
Performance stock units53,579 29,815 59,830 26,585 
Weighted-average shares of Class A common stock outstanding - diluted84,065,228 86,955,179 84,232,536 87,083,282 
Earnings per share of Class A common stock - basic$0.69 $0.56 $1.19 $0.95 
Earnings per share of Class A common stock - diluted$0.69 $0.56 $1.19 $0.95 
The number of weighted-average common stock equivalents excluded from the computation of diluted net income per share because the effect would have been anti-dilutive were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Class B common stock
332,799 729,693 337,295 953,130 
Stock options— — — 562 
Restricted stock units248 1,811 165 1,120 
Performance stock units248 592 165 1,165 
Total
333,295 732,096 337,625 955,977 
v3.25.2
Income taxes
 6 Months Ended
Jun. 30, 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 29.7% and 27.3% for the three months ended June 30, 2025 and 2024, respectively, and 28.8% and 27.8% for the six months ended June 30, 2025 and 2024, respectively, which differed from the U.S. federal statutory rate of 21% primarily due to state and local taxes, and an increase of the valuation allowance. The Company is also subject to taxes in foreign jurisdictions.
Net deferred tax assets of $441,832 and $468,811 as of June 30, 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 June 30, 2025 and December 31, 2024, the total liability related to uncertain tax positions was $351 and $297, respectively. The Company recognizes accrued interest and penalties, if applicable, related to unrecognized tax benefits in income tax expense. Interest and penalties for the three and six months ended June 30, 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.
Certain existing holders of Holdings Units exercised their exchange rights and exchanged Holdings Units 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 these exchanges and other activity, the Company recognized deferred tax assets and tax benefit arrangement liabilities, each recorded with offsets to additional paid-in-capital within stockholders’ deficit, as summarized below:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Holding units exchanged25,713 420,563 25,713 746,636 
Net deferred tax assets$835 $6,538 $901 $13,658 
Tax benefit arrangement liabilities(1)
$732 $5,070 $732 $7,765 
(1) Represents approximately 85% of the tax benefit generated by TRA Holders who exchanged shares and participate in the tax benefit arrangements.
The Company had a liability of $413,613 and $466,916 as of June 30, 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$1,327 
202653,717 
202740,985 
202842,389 
202944,125 
Thereafter231,070 
Total$413,613 
On July 4, 2025, the “One Big Beautiful Bill Act” (the “Act”) was enacted into law. The Act includes changes to U.S. tax law that will be applicable to the Company beginning in fiscal 2025. These changes include provisions allowing accelerated tax deductions for qualified property and equipment expenditures. The Company is currently evaluating the impact that the Act will have on our consolidated financial statements.
v3.25.2
Commitments and contingencies
 6 Months Ended
Jun. 30, 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.
v3.25.2
Segments
 6 Months Ended
Jun. 30, 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 June 30,Six Months Ended June 30,
 2025202420252024
Franchise$119,658 $107,790 $234,838 $211,810 
Corporate-owned clubs138,989 125,466 272,658 247,844 
Equipment82,232 67,685 110,045 89,304 
Total revenue$340,879 $300,941 $617,541 $548,958 
 Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Franchise$86,502 $77,454 $171,367 $153,592 
Corporate-owned clubs56,598 49,565 102,447 91,963 
Equipment26,435 18,575 33,877 23,373 
Segment Adjusted EBITDA
$169,535 $145,594 $307,691 $268,928 
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 June 30,Six Months Ended June 30,
Franchise Segment2025202420252024
Selling, general and administrative
$8,772 $7,835 $15,985 $14,619 
National advertising fund expense22,777 20,112 44,721 39,904 
Cost of revenue2,231 2,108 3,263 3,270 
Other segment expenses, net(1)
(624)281 (498)425 
Total$33,156 $30,336 $63,471 $58,218 
(1) Other segment expenses, net for the franchise segment includes other (gains) losses, net, and other income (expense), net.
 Three Months Ended June 30,Six Months Ended June 30,
Corporate-owned Clubs Segment2025202420252024
Club compensation and payroll(1)
$23,822 $20,824 $47,147 $42,046 
Rent & occupancy(1)
30,631 28,676 60,825 56,229 
Marketing(1)
9,300 9,616 24,386 25,455 
Operational and other(1)
11,258 10,699 22,519 20,194 
Selling, general and administrative2,464 3,979 6,166 7,572 
Other segment expenses, net(2)
4,916 2,107 9,168 4,385 
Total$82,391 $75,901 $170,211 $155,881 
(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 June 30,Six Months Ended June 30,
Equipment Segment2025202420252024
Cost of revenue
$55,425 $48,501 $75,304 $64,672 
Other segment expenses, net(1)
372 609 864 1,259 
Total$55,797 $49,110 $76,168 $65,931 
(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 $30,848 and $32,595 during the three months ended June 30, 2025 and 2024, respectively, and $49,905 and $54,554 during the six months ended June 30, 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 June 30,Six Months Ended June 30,
 2025202420252024
Segment Adjusted EBITDA$169,535 $145,594 $307,691 $268,928 
Depreciation and amortization(38,429)(39,817)(76,710)(79,197)
Interest income5,690 5,616 11,502 11,077 
Interest expense(26,181)(24,533)(52,378)(45,966)
Losses from equity-method investments, net of tax628 1,216 1,433 2,416 
Corporate and other unallocated expenses, net(1)
(27,390)(18,571)(48,585)(37,256)
Income before income taxes$83,853 $69,505 $142,953 $120,002 
(1) Corporate and other unallocated expenses, net includes corporate overhead costs, such as payroll and related benefit costs and professional services that are not directly attributable to any individual segment and thus are unallocated and certain other gains and charges that the CODM does not consider in her evaluation of the Company’s reportable segments.
The following table summarizes geographic information about the Company’s revenue, based on customer location:
 Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
United States$333,536 $295,054 $603,446 $533,157 
Rest of world7,343 5,887 14,095 15,801 
Total revenue$340,879 $300,941 $617,541 $548,958 

The following table summarizes geographic information about the Company’s long-lived assets, net, excluding goodwill and other intangible assets:
 June 30, 2025December 31, 2024
United States$902,639 $882,022 
Rest of world44,387 21,414 
Total long-lived assets, net$947,026 $903,436 
v3.25.2
Corporate-owned and franchisee-owned clubs
 6 Months Ended
Jun. 30, 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 June 30,Six Months Ended June 30,
 2025202420252024
Franchisee-owned clubs:
Clubs operated at beginning of period2,461 2,341 2,445 2,319 
New clubs opened20 17 36 40 
Clubs debranded, sold, closed or consolidated(1)
(2)— (2)(1)
Clubs operated at end of period2,479 2,358 2,479 2,358 
Corporate-owned clubs:
Clubs operated at beginning of period280 258 277 256 
New clubs opened3 1 6 3 
Clubs operated at end of period283 259 283 259 
Total clubs:
Clubs operated at beginning of period2,741 2,599 2,722 2,575 
New clubs opened23 18 42 43 
Clubs debranded, sold, closed or consolidated(1)
(2)— (2)(1)
Clubs operated at end of period2,762 2,617 2,762 2,617 
(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.
v3.25.2
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 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
v3.25.2
Summary of significant accounting policies (Policies)
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 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, subject to subordination clauses that could push maturity to 2030. The investment is classified as held-to-maturity and measured at amortized cost within investments in the condensed consolidated balance sheets. The Company reviews its held-to-maturity securities for expected credit losses under ASC Topic 326, Financial Instruments – Credit Losses, on an ongoing basis.
The Company utilizes probability-of-default and loss-given-default methodologies to estimate the allowance for expected credit losses using historical lifetime loss information for assets with similar risk characteristics, adjusted for management’s expectations. Adjustments for management’s expectations were based on the investee’s recent financial results, current financial position, and forward-looking financial forecasts.
v3.25.2
Investments (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 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 and six months ended June 30, 2025 and 2024.
Amortized CostUnrealized (Losses) Gains, Net
Fair Value(1)
Level 1Level 2
June 30, 2025
Cash equivalents
Money market funds$710 $— $710 $710 $— 
Total cash equivalents710 — 710 710 — 
Short-term marketable securities
Commercial paper7,916 (4)7,912 — 7,912 
Corporate debt securities98,228 107 98,335 — 98,335 
U.S. government agency securities751 — 751 — 751 
Total short-term marketable securities106,895 103 106,998 — 106,998 
Long-term marketable securities
Corporate debt securities71,732 149 71,881 — 71,881 
U.S. government agency securities11,450 (4)11,446 — 11,446 
Total long-term marketable securities83,182 145 83,327 — 83,327 
Total cash equivalents and marketable securities$190,787 $248 $191,035 $710 $190,325 
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 June 30,Six Months Ended June 30,
2025202420252024
Beginning allowance for expected credit losses$19,126 $18,164 $18,834 $17,689 
Loss on adjustment of allowance for expected credit losses4,311 82 4,603 557 
Write-offs, net of recoveries— — — — 
Ending allowance for expected credit losses$23,437 $18,246 $23,437 $18,246 
v3.25.2
Goodwill and intangible assets (Tables)
 6 Months Ended
Jun. 30, 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
— 415 — 415 
Goodwill at June 30, 2025
$16,938 $611,514 $92,666 $721,118 
Schedule of Intangible Assets
A summary of intangible assets is as follows:
June 30, 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 $(184,623)$14,420 $199,043 $(183,046)$15,997 
Reacquired franchise rights274,708 (130,767)143,941 274,708 (113,987)160,721 
Total finite-lived intangible assets473,751 (315,390)158,361 473,751 (297,033)176,718 
Indefinite-lived intangible assets:
Trade and brand names146,600 — 146,600 146,600 — 146,600 
Total intangible assets$620,351 $(315,390)$304,961 $620,351 $(297,033)$323,318 
Schedule of Intangible Assets
A summary of intangible assets is as follows:
June 30, 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 $(184,623)$14,420 $199,043 $(183,046)$15,997 
Reacquired franchise rights274,708 (130,767)143,941 274,708 (113,987)160,721 
Total finite-lived intangible assets473,751 (315,390)158,361 473,751 (297,033)176,718 
Indefinite-lived intangible assets:
Trade and brand names146,600 — 146,600 146,600 — 146,600 
Total intangible assets$620,351 $(315,390)$304,961 $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 June 30, 2025 is as follows:
 Amount
Remainder of 2025$18,356 
202632,079 
202727,956 
202827,300 
202923,675 
Thereafter28,995 
Total$158,361 
v3.25.2
Long-term debt (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt consists of the following: 
 June 30, 2025December 31, 2024
2019-1 Class A-2 notes$519,750 $522,500 
2022-1 Class A-2-I notes411,188 413,312 
2022-1 Class A-2-II notes459,562 461,938 
2024-1 Class A-2-I notes421,812 423,938 
2024-1 Class A-2-II notes372,188 374,062 
Total debt, excluding deferred financing costs2,184,500 2,195,750 
Deferred financing costs, net of accumulated amortization(22,582)(25,221)
Total debt, net2,161,918 2,170,529 
Current portion of long-term debt22,500 22,500 
Long-term debt, net of current portion$2,139,418 $2,148,029 
Schedule of Future Annual Payments of Long-term Debt
Future principal payments of long-term debt as of June 30, 2025 are as follows: 
 Amount
Remainder of 2025$11,250 
2026427,312 
202718,250 
202818,250 
2029915,938 
Thereafter793,500 
Total$2,184,500 
Schedule of Carrying Value and Estimated Fair Value of Long-Term Debt
The carrying value and estimated fair value of long-term debt were as follows:
June 30, 2025December 31, 2024
Carrying value
Estimated fair value(1)
Carrying value
Estimated fair value(1)
Long-term debt$2,184,500 $2,128,047 $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.
v3.25.2
Leases (Tables)
 6 Months Ended
Jun. 30, 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 ClassificationJune 30, 2025December 31, 2024
Assets
OperatingRight of use asset, net$417,573 $395,174 
FinanceProperty and equipment, net 264 85 
Total lease assets$417,837 $395,259 
Liabilities
Current:
OperatingOther current liabilities$39,212 $37,031 
FinanceOther current liabilities86 70 
Noncurrent:
OperatingLease liabilities, net of current portion432,950 405,324 
FinanceOther liabilities182 20 
Total lease liabilities$472,430 $442,445 
Weighted-average remaining lease term - operating leases7.8 years7.7 years
Weighted-average discount rate - operating leases5.8%5.6%
Schedule of Components of Lease Cost
The components of lease cost were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Operating lease cost$19,663 $18,006 $38,886 $35,520 
Variable lease cost7,478 6,472 14,449 12,635 
Total lease cost$27,141 $24,478 $53,335 $48,155 
Supplemental disclosures of cash flow information related to leases were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Cash paid for lease liabilities$16,843 $15,228 $31,257 $30,570 
Operating lease ROU assets obtained in exchange for operating lease liabilities, excluding acquisitions$13,399 $20,073 $46,509 $36,659 
Schedule of Supplemental Disclosures of Cash Flow Information Related to Leases
The components of lease cost were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Operating lease cost$19,663 $18,006 $38,886 $35,520 
Variable lease cost7,478 6,472 14,449 12,635 
Total lease cost$27,141 $24,478 $53,335 $48,155 
Supplemental disclosures of cash flow information related to leases were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Cash paid for lease liabilities$16,843 $15,228 $31,257 $30,570 
Operating lease ROU assets obtained in exchange for operating lease liabilities, excluding acquisitions$13,399 $20,073 $46,509 $36,659 
Schedule of Maturities of Lease Liabilities
Maturities of lease liabilities as of June 30, 2025 were as follows:
Amount
Remainder of 2025$37,947 
202681,417 
202784,686 
202884,374 
202977,518 
Thereafter243,137 
Total lease payments$609,079 
Less: imputed interest(136,649)
Present value of lease liabilities$472,430 
Schedule of Maturities of Lease Liabilities
Maturities of lease liabilities as of June 30, 2025 were as follows:
Amount
Remainder of 2025$37,947 
202681,417 
202784,686 
202884,374 
202977,518 
Thereafter243,137 
Total lease payments$609,079 
Less: imputed interest(136,649)
Present value of lease liabilities$472,430 
v3.25.2
Revenue from contract with customers (Tables)
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Liabilities
The following table reflects the change in contract liabilities between December 31, 2024 and June 30, 2025:
Amount
Balance at December 31, 2024
$94,101 
Revenue recognized that was included in the contract liability at the beginning of the year(51,063)
Increase, excluding amounts recognized as revenue during the period65,023 
Balance at June 30, 2025
$108,061 
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 June 30, 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$64,158 
202615,875 
20273,711 
20283,379 
20292,987 
Thereafter17,951 
Total$108,061 
v3.25.2
Related party transactions (Tables)
 6 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
Activity with franchisees considered to be related parties is summarized below:
 Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Franchise revenue
$2,162 $1,837 $4,388 $4,001 
Equipment revenue
731 1,441 841 5,443 
Total revenue from related parties$2,893 $3,278 $5,229 $9,444 
v3.25.2
Earnings per share (Tables)
 6 Months Ended
Jun. 30, 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 June 30,Six Months Ended June 30,
 2025202420252024
Numerator  
Net income$58,295 $49,312 $100,374 $84,285 
Less: net income attributable to non-controlling interests276 672 488 1,336 
Net income attributable to Planet Fitness, Inc.$58,019 $48,640 $99,886 $82,949 
Denominator
Weighted-average shares of Class A common stock outstanding - basic83,861,016 86,808,695 84,014,883 86,859,039 
Effect of dilutive securities:
Stock options40,219 85,161 40,478 153,646 
Restricted stock units110,414 31,508 117,345 44,012 
Performance stock units53,579 29,815 59,830 26,585 
Weighted-average shares of Class A common stock outstanding - diluted84,065,228 86,955,179 84,232,536 87,083,282 
Earnings per share of Class A common stock - basic$0.69 $0.56 $1.19 $0.95 
Earnings per share of Class A common stock - diluted$0.69 $0.56 $1.19 $0.95 
Schedule of Common Stock Equivalents Excluded from Computation of Diluted Net Income per Share
The number of weighted-average common stock equivalents excluded from the computation of diluted net income per share because the effect would have been anti-dilutive were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Class B common stock
332,799 729,693 337,295 953,130 
Stock options— — — 562 
Restricted stock units248 1,811 165 1,120 
Performance stock units248 592 165 1,165 
Total
333,295 732,096 337,625 955,977 
v3.25.2
Income taxes (Tables)
 6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Schedule of Deferred Tax Assets and Tax Benefit Arrangement Liabilities As a result of these exchanges and other activity, the Company recognized deferred tax assets and tax benefit arrangement liabilities, each recorded with offsets to additional paid-in-capital within stockholders’ deficit, as summarized below:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Holding units exchanged25,713 420,563 25,713 746,636 
Net deferred tax assets$835 $6,538 $901 $13,658 
Tax benefit arrangement liabilities(1)
$732 $5,070 $732 $7,765 
(1) Represents approximately 85% of the tax benefit generated by TRA Holders who exchanged shares and participate in the tax benefit arrangements.
Schedule of Future Payments Under Tax Benefit Arrangements
Projected future payments under the tax benefit arrangements were as follows:
 Amount
Remainder of 2025$1,327 
202653,717 
202740,985 
202842,389 
202944,125 
Thereafter231,070 
Total$413,613 
v3.25.2
Segments (Tables)
 6 Months Ended
Jun. 30, 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 June 30,Six Months Ended June 30,
 2025202420252024
Franchise$119,658 $107,790 $234,838 $211,810 
Corporate-owned clubs138,989 125,466 272,658 247,844 
Equipment82,232 67,685 110,045 89,304 
Total revenue$340,879 $300,941 $617,541 $548,958 
 Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Franchise$86,502 $77,454 $171,367 $153,592 
Corporate-owned clubs56,598 49,565 102,447 91,963 
Equipment26,435 18,575 33,877 23,373 
Segment Adjusted EBITDA
$169,535 $145,594 $307,691 $268,928 
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 June 30,Six Months Ended June 30,
Franchise Segment2025202420252024
Selling, general and administrative
$8,772 $7,835 $15,985 $14,619 
National advertising fund expense22,777 20,112 44,721 39,904 
Cost of revenue2,231 2,108 3,263 3,270 
Other segment expenses, net(1)
(624)281 (498)425 
Total$33,156 $30,336 $63,471 $58,218 
(1) Other segment expenses, net for the franchise segment includes other (gains) losses, net, and other income (expense), net.
 Three Months Ended June 30,Six Months Ended June 30,
Corporate-owned Clubs Segment2025202420252024
Club compensation and payroll(1)
$23,822 $20,824 $47,147 $42,046 
Rent & occupancy(1)
30,631 28,676 60,825 56,229 
Marketing(1)
9,300 9,616 24,386 25,455 
Operational and other(1)
11,258 10,699 22,519 20,194 
Selling, general and administrative2,464 3,979 6,166 7,572 
Other segment expenses, net(2)
4,916 2,107 9,168 4,385 
Total$82,391 $75,901 $170,211 $155,881 
(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 June 30,Six Months Ended June 30,
Equipment Segment2025202420252024
Cost of revenue
$55,425 $48,501 $75,304 $64,672 
Other segment expenses, net(1)
372 609 864 1,259 
Total$55,797 $49,110 $76,168 $65,931 
(1) Other segment expenses, net for the equipment segment includes selling, general, and administrative expenses, other (gains) losses, net, and other income (expense), net.
Schedule of Reconciliation of Total Segment Adjusted EBITDA to Income Before Taxes
The following table reconciles total Segment Adjusted EBITDA to consolidated income before taxes:
 Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Segment Adjusted EBITDA$169,535 $145,594 $307,691 $268,928 
Depreciation and amortization(38,429)(39,817)(76,710)(79,197)
Interest income5,690 5,616 11,502 11,077 
Interest expense(26,181)(24,533)(52,378)(45,966)
Losses from equity-method investments, net of tax628 1,216 1,433 2,416 
Corporate and other unallocated expenses, net(1)
(27,390)(18,571)(48,585)(37,256)
Income before income taxes$83,853 $69,505 $142,953 $120,002 
(1) Corporate and other unallocated expenses, net includes corporate overhead costs, such as payroll and related benefit costs and professional services that are not directly attributable to any individual segment and thus are unallocated and certain other gains and charges that the CODM does not consider in her evaluation of the Company’s reportable segments.
Schedule of Geographical Revenue & Long- Lived Assets
The following table summarizes geographic information about the Company’s revenue, based on customer location:
 Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
United States$333,536 $295,054 $603,446 $533,157 
Rest of world7,343 5,887 14,095 15,801 
Total revenue$340,879 $300,941 $617,541 $548,958 

The following table summarizes geographic information about the Company’s long-lived assets, net, excluding goodwill and other intangible assets:
 June 30, 2025December 31, 2024
United States$902,639 $882,022 
Rest of world44,387 21,414 
Total long-lived assets, net$947,026 $903,436 
v3.25.2
Corporate-owned and franchisee-owned clubs (Tables)
 6 Months Ended
Jun. 30, 2025
Franchisors [Abstract]  
Schedule of Changes in Corporate-Owned and Franchisee-Owned Stores
The following table shows changes in corporate-owned and franchisee-owned clubs:
 Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Franchisee-owned clubs:
Clubs operated at beginning of period2,461 2,341 2,445 2,319 
New clubs opened20 17 36 40 
Clubs debranded, sold, closed or consolidated(1)
(2)— (2)(1)
Clubs operated at end of period2,479 2,358 2,479 2,358 
Corporate-owned clubs:
Clubs operated at beginning of period280 258 277 256 
New clubs opened3 1 6 3 
Clubs operated at end of period283 259 283 259 
Total clubs:
Clubs operated at beginning of period2,741 2,599 2,722 2,575 
New clubs opened23 18 42 43 
Clubs debranded, sold, closed or consolidated(1)
(2)— (2)(1)
Clubs operated at end of period2,762 2,617 2,762 2,617 
(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.
v3.25.2
Business organization (Details)
member in Millions
 6 Months Ended
Jun. 30, 2025
segment
store
member
state
Mar. 31, 2025
store
Dec. 31, 2024
store
Jun. 30, 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 20.8            
Number of owned and franchised locations | store 2,762 2,741 2,722 2,617 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%
v3.25.2
Investments - Narrative (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Schedule of Equity Method Investments [Line Items]          
Allowance for credit losses $ 0   $ 0    
Credit loss on held-to-maturity investment 4,311,000 $ 82,000 4,603,000 $ 557,000  
Amortized cost of held-to-maturity debt security investments 33,662,000   33,662,000   $ 32,523,000
Dividends accrued on held-to-maturity investment 578,000 537,000 1,139,000 1,065,000  
Losses from equity-method investments, net of tax $ 628,000 1,216,000 $ 1,433,000 2,416,000  
Bravo Fit Holdings Pty Ltd          
Schedule of Equity Method Investments [Line Items]          
Ownership percentage 22.00%   22.00%   22.00%
Total investment $ 12,674,000   $ 12,674,000   $ 12,961,000
Underlying equity in net assets 5,018,000   $ 5,018,000   $ 5,374,000
Weighted average useful life     9 years    
Losses from equity-method investments, net of tax 147,000 158,000 $ 430,000 466,000  
Basis difference amortization $ 66,000 66,000 $ 132,000 132,000  
Planet Fitmex, LLC          
Schedule of Equity Method Investments [Line Items]          
Ownership percentage 33.20%   33.20%   33.20%
Total investment $ 47,997,000   $ 47,997,000   $ 49,000,000
Underlying equity in net assets 18,757,000   $ 18,757,000   $ 21,702,000
Weighted average useful life     9 years    
Losses from equity-method investments, net of tax 481,000 1,058,000 $ 1,003,000 1,950,000  
Basis difference amortization $ 174,000 $ 174,000 $ 348,000 $ 337,000  
Minimum          
Schedule of Equity Method Investments [Line Items]          
Maturity dates 1 month   1 month    
Maximum          
Schedule of Equity Method Investments [Line Items]          
Maturity dates 24 months   24 months    
v3.25.2
Investments - Schedule of Amortized Cost, Gross Unrealized Gains (Losses), and Fair Value of Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Schedule of Equity Method Investments [Line Items]    
Amortized Cost $ 190,787 $ 186,577
Unrealized (Losses) Gains, Net 248 136
Fair Value 191,035 186,713
Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 710 236
Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 190,325 186,477
Cash equivalents    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 710 6,882
Unrealized (Losses) Gains, Net 0 0
Fair Value 710 6,882
Cash equivalents | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 710 236
Cash equivalents | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 6,646
Cash equivalents | Money market funds    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 710 236
Unrealized (Losses) Gains, Net 0 0
Fair Value 710 236
Cash equivalents | Money market funds | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 710 236
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   3,996
Unrealized (Losses) Gains, Net   0
Fair Value   3,996
Cash equivalents | Commercial paper | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value   0
Cash equivalents | Commercial paper | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value   3,996
Cash equivalents | U.S. treasury securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost   2,650
Unrealized (Losses) Gains, 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 106,895 113,967
Unrealized (Losses) Gains, Net 103 196
Fair Value 106,998 114,163
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 106,998 114,163
Short-term marketable securities | Commercial paper    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 7,916 9,082
Unrealized (Losses) Gains, Net (4) 10
Fair Value 7,912 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 7,912 9,092
Short-term marketable securities | Corporate debt securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 98,228 98,915
Unrealized (Losses) Gains, Net 107 181
Fair Value 98,335 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 98,335 99,096
Short-term marketable securities | U.S. treasury securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost   1,999
Unrealized (Losses) Gains, 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 751 3,971
Unrealized (Losses) Gains, Net 0 5
Fair Value 751 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 751 3,976
Long-term marketable securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 83,182 65,728
Unrealized (Losses) Gains, Net 145 (60)
Fair Value 83,327 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 83,327 65,668
Long-term marketable securities | Corporate debt securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 71,732 62,728
Unrealized (Losses) Gains, Net 149 (55)
Fair Value 71,881 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 71,881 62,673
Long-term marketable securities | U.S. government agency securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 11,450 3,000
Unrealized (Losses) Gains, Net (4) (5)
Fair Value 11,446 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 $ 11,446 $ 2,995
v3.25.2
Investments - Rollforward of Allowance for Expected Credit Losses on Held-to-maturity Investments (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward]        
Beginning allowance for expected credit losses $ 19,126 $ 18,164 $ 18,834 $ 17,689
Loss on adjustment of allowance for expected credit losses 4,311 82 4,603 557
Write-offs, net of recoveries 0 0 0 0
Ending allowance for expected credit losses $ 23,437 $ 18,246 $ 23,437 $ 18,246
v3.25.2
Goodwill and intangible assets - Schedule of Goodwill (Details) - USD ($)
$ in Thousands
 1 Months Ended 6 Months Ended
Dec. 31, 2024
Jun. 30, 2025
Goodwill [Roll Forward]    
Goodwill at December 31, 2024   $ 720,633
Acquisitions $ 1,619 70
Foreign currency translation   415
Goodwill at June 30, 2025 720,633 721,118
Franchise    
Goodwill [Roll Forward]    
Goodwill at December 31, 2024   16,938
Acquisitions   0
Foreign currency translation   0
Goodwill at June 30, 2025 16,938 16,938
Corporate-owned Clubs    
Goodwill [Roll Forward]    
Goodwill at December 31, 2024   611,029
Acquisitions   70
Foreign currency translation   415
Goodwill at June 30, 2025 611,029 611,514
Equipment    
Goodwill [Roll Forward]    
Goodwill at December 31, 2024   92,666
Acquisitions   0
Foreign currency translation   0
Goodwill at June 30, 2025 $ 92,666 $ 92,666
v3.25.2
Goodwill and intangible assets - Additional Information (Details)
 1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Dec. 31, 2024
USD ($)
store
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
store
Goodwill and Intangible Assets Disclosure [Abstract]            
Clubs acquired | store 3         3
Acquisitions $ 1,619,000     $ 70,000    
Goodwill adjustment       70,000    
Impairment charges       0   $ 0
Amortization of intangible assets   $ 9,189,000 $ 12,768,000 $ 18,378,000 $ 25,536,000  
v3.25.2
Goodwill and intangible assets - Schedule of Intangible Assets (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Finite-lived intangible assets:    
Gross carrying amount $ 473,751 $ 473,751
Accumulated amortization (315,390) (297,033)
Total 158,361 176,718
Indefinite-lived intangible assets:    
Total intangible assets 620,351 620,351
Net carrying Amount 304,961 323,318
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 (184,623) (183,046)
Total 14,420 15,997
Reacquired franchise rights    
Finite-lived intangible assets:    
Gross carrying amount 274,708 274,708
Accumulated amortization (130,767) (113,987)
Total $ 143,941 $ 160,721
v3.25.2
Goodwill and intangible assets - Schedule of Amortization Expense (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
Remainder of 2025 $ 18,356  
2026 32,079  
2027 27,956  
2028 27,300  
2029 23,675  
Thereafter 28,995  
Total $ 158,361 $ 176,718
v3.25.2
Long-term debt - Schedule of Long-term Debt (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs $ 2,184,500 $ 2,195,750
Deferred financing costs, net of accumulated amortization (22,582) (25,221)
Total debt, net 2,161,918 2,170,529
Current portion of long-term debt 22,500 22,500
Long-term debt, net of current portion 2,139,418 2,148,029
Senior Notes | 2019-1 Class A-2 notes    
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs 519,750 522,500
Senior Notes | 2022-1 Class A-2-I notes    
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs 411,188 413,312
Senior Notes | 2022-1 Class A-2-II notes    
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs 459,562 461,938
Senior Notes | 2024-1 Class A-2-I notes    
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs 421,812 423,938
Senior Notes | 2024-1 Class A-2-II notes    
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs $ 372,188 $ 374,062
v3.25.2
Long-term debt - Schedule of Future Annual Payments of Long-term Debt (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Debt Disclosure [Abstract]    
Remainder of 2025 $ 11,250  
2026 427,312  
2027 18,250  
2028 18,250  
2029 915,938  
Thereafter 793,500  
Total $ 2,184,500 $ 2,195,750
v3.25.2
Long-term debt - Schedule of Carrying Value and Estimated Fair Value of Long-term Debt (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Carrying value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 2,184,500 $ 2,195,750
Estimated fair value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 2,128,047 $ 2,082,034
v3.25.2
Leases - Schedule of Balance Sheet Classification of Lease Assets and Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 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 $425,101 and $370,118, as of June 30, 2025 and December 31, 2024, respectively Property and equipment, net of accumulated depreciation of $425,101 and $370,118, as of June 30, 2025 and December 31, 2024, respectively
Operating $ 417,573 $ 395,174
Finance 264 85
Total lease assets $ 417,837 $ 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 $ 39,212 $ 37,031
Current finance lease liabilities 86 70
Noncurrent operating lease liabilities 432,950 405,324
Noncurrent finance lease liabilities 182 20
Total lease liabilities $ 472,430 $ 442,445
Weighted-average remaining lease term - operating leases 7 years 9 months 18 days 7 years 8 months 12 days
Weighted-average discount rate - operating leases 5.80% 5.60%
v3.25.2
Leases - Schedule of Components of Lease Cost (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Leases [Abstract]        
Operating lease cost $ 19,663 $ 18,006 $ 38,886 $ 35,520
Variable lease cost 7,478 6,472 14,449 12,635
Total lease cost $ 27,141 $ 24,478 $ 53,335 $ 48,155
v3.25.2
Leases - Schedule of Supplemental Disclosures of Cash Flow Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Leases [Abstract]        
Cash paid for lease liabilities $ 16,843 $ 15,228 $ 31,257 $ 30,570
Operating lease ROU assets obtained in exchange for operating lease liabilities, excluding acquisitions $ 13,399 $ 20,073 $ 46,509 $ 36,659
v3.25.2
Leases - Schedule of Maturities of Lease Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Leases [Abstract]    
Remainder of 2025 $ 37,947  
2026 81,417  
2027 84,686  
2028 84,374  
2029 77,518  
Thereafter 243,137  
Total lease payments 609,079  
Less: imputed interest (136,649)  
Present value of lease liabilities $ 472,430 $ 442,445
v3.25.2
Leases - Additional Information (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
Leases [Abstract]  
Lease payments for leases signed but not yet commenced $ 41,766
v3.25.2
Revenue from contract with customers - Schedule of Contract Liabilities (Details)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
USD ($)
Amount  
Beginning Balance $ 94,101
Revenue recognized that was included in the contract liability at the beginning of the year (51,063)
Increase, excluding amounts recognized as revenue during the period 65,023
Ending Balance $ 108,061
v3.25.2
Revenue from contract with customers - Schedule of Remaining Performance Obligation (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 108,061
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 64,158
Remaining performance obligation, expected timing of satisfaction 6 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 $ 15,875
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 $ 3,711
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 $ 3,379
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 $ 2,987
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 $ 17,951
Remaining performance obligation, expected timing of satisfaction
v3.25.2
Revenue from contract with customers - Additional Information (Details)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
USD ($)
Revenue from Contract with Customer [Abstract]  
Equipment deposits $ 7,860
Deferred revenue expected recognition period (in months) 12 months
v3.25.2
Related party transactions - Schedule of Related Party Transactions (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Related Party Transaction [Line Items]        
Total revenue from related parties $ 340,879 $ 300,941 $ 617,541 $ 548,958
Related party        
Related Party Transaction [Line Items]        
Total revenue from related parties 2,893 3,278 5,229 9,444
Related party | Franchise revenue        
Related Party Transaction [Line Items]        
Total revenue from related parties 2,162 1,837 4,388 4,001
Related party | Equipment revenue        
Related Party Transaction [Line Items]        
Total revenue from related parties $ 731 $ 1,441 $ 841 $ 5,443
v3.25.2
Related party transactions - Additional Information (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
Nov. 30, 2024
USD ($)
Related Party Transaction [Line Items]            
Accounts receivable $ 72,847   $ 72,847   $ 77,145  
Deferred revenue 108,061   108,061   94,101  
Accounts payable 49,128   49,128   32,887  
Total revenue 340,879 $ 300,941 617,541 $ 548,958    
Related party            
Related Party Transaction [Line Items]            
Accounts receivable 1,777   1,777   6,198  
Total revenue 2,893 3,278 5,229 9,444    
Related party | Administrative Service            
Related Party Transaction [Line Items]            
Total revenue 1,522 1,337 3,215 2,798    
Affiliated entity            
Related Party Transaction [Line Items]            
Promissory note (up to)           $ 10
Interest rate           0.04
Promissory note issued and outstanding 4,913   4,913   2,148  
Deferred ADA and franchise agreement revenue | Related party            
Related Party Transaction [Line Items]            
Deferred revenue 577   577   577  
Tax benefit arrangements | Related party            
Related Party Transaction [Line Items]            
Accounts payable 84,038   84,038   $ 88,099  
Amenity tracking compliance software | Related party | Chief Executive Officer            
Related Party Transaction [Line Items]            
Purchases from related party $ 97 $ 106 $ 244 $ 171    
Amenity tracking compliance software | Related party | Amenity Tracking Compliance Software Company | Chief Executive Officer            
Related Party Transaction [Line Items]            
Ownership percentage 10.50%   10.50%      
v3.25.2
Stockholders' equity (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Sep. 16, 2024
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Mar. 31, 2025
Dec. 31, 2024
Jun. 13, 2024
Jun. 12, 2024
Mar. 31, 2024
Dec. 31, 2023
Nov. 04, 2022
Class of Stock [Line Items]                        
Repurchase and retirement of common stock $ 2,029,000   $ 281,945,000 $ 52,483,000 $ 302,114,000              
Preferred stock authorized (in shares) 50,000,000     50,000,000     50,000,000          
Preferred stock issued (in shares) 0     0     0          
Preferred stock outstanding (in shares) 0     0     0          
2022 share repurchase program                        
Class of Stock [Line Items]                        
Authorized stock repurchase program amount                       $ 500,000,000
Share repurchase excise tax         $ 1,908,000              
ASR Agreement                        
Class of Stock [Line Items]                        
Authorized stock repurchase program amount                 $ 280,000,000      
2024 Share Repurchase Program                        
Class of Stock [Line Items]                        
Authorized stock repurchase program amount               $ 500,000,000        
Share repurchase excise tax       $ 398,000                
Remaining authorized amount $ 447,925,000     $ 447,925,000                
Pla-Fit Holdings, LLC                        
Class of Stock [Line Items]                        
Economic interest 0.40%     0.40%                
Investor | Pla-Fit Holdings, LLC | Secondary Offering and Exchange                        
Class of Stock [Line Items]                        
Percentage of economic interest       99.60%                
Continuing LLC Owners | Secondary Offering and Exchange                        
Class of Stock [Line Items]                        
Number of units held by owners (in shares) 316,128     316,128                
Continuing LLC Owners | Pla-Fit Holdings, LLC | Secondary Offering and Exchange                        
Class of Stock [Line Items]                        
Percentage of economic interest       0.40%                
Class B common stock                        
Class of Stock [Line Items]                        
Shares exchanged for Class A common stock (in shares)       1                
Common stock, shares outstanding (in shares) 316,000     316,000     342,000          
Class B common stock | Common stock                        
Class of Stock [Line Items]                        
Common stock, shares outstanding (in shares) 316,000   650,000 316,000 650,000 342,000 342,000     1,071,000 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) 316,128     316,128                
Class B common stock | Continuing LLC Owners | Continuing LLC Owners | Pla-Fit Holdings, LLC | Secondary Offering and Exchange                        
Class of Stock [Line Items]                        
Economic interest 0.40%     0.40%                
Holdings Units                        
Class of Stock [Line Items]                        
Shares exchanged for Class A common stock (in shares)       1                
Class A common stock                        
Class of Stock [Line Items]                        
Common stock, shares outstanding (in shares) 83,907,000     83,907,000     84,323,000          
Class A common stock | 2022 share repurchase program                        
Class of Stock [Line Items]                        
Repurchase and retirement of common stock (in shares)   3,758,939     313,834              
Repurchase and retirement of common stock         $ 20,005,000              
Class A common stock | 2024 Share Repurchase Program                        
Class of Stock [Line Items]                        
Repurchase and retirement of common stock (in shares) 21,519     565,745                
Repurchase and retirement of common stock $ 2,075,000     $ 52,075,000                
Class A common stock | Common stock                        
Class of Stock [Line Items]                        
Common stock, shares outstanding (in shares) 83,907,000   84,496,000 83,907,000 84,496,000 83,836,000 84,323,000     86,832,000 86,760,000  
Repurchase and retirement of common stock (in shares) 22,000   3,090,000 566,000 3,404,000              
Class A common stock | Common Stockholders | Investor | Common stock                        
Class of Stock [Line Items]                        
Common stock, shares outstanding (in shares) 83,906,665     83,906,665                
Class A common stock | Common Stockholders | Investor | Common stock | Planet Fitness, Inc.                        
Class of Stock [Line Items]                        
Economic interest 99.60%     99.60%                
Class A common stock | Continuing LLC Owners | Investor                        
Class of Stock [Line Items]                        
Common stock, shares outstanding (in shares) 83,906,665     83,906,665                
v3.25.2
Earnings per share - Additional Information (Details)
 6 Months Ended
Jun. 30, 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
v3.25.2
Earnings per share - Schedule of Reconciliation of Numerators and Denominators Used to Compute Basic and Diluted Earnings per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Numerator        
Net income $ 58,295 $ 49,312 $ 100,374 $ 84,285
Less: net income attributable to non-controlling interests 276 672 488 1,336
Net income attributable to Planet Fitness, Inc. $ 58,019 $ 48,640 $ 99,886 $ 82,949
Stock options        
Effect of dilutive securities:        
Weighted-average shares outstanding adjustment (shares) 40,219 85,161 40,478 153,646
Restricted stock units        
Effect of dilutive securities:        
Weighted-average shares outstanding adjustment (shares) 110,414 31,508 117,345 44,012
Performance stock units        
Effect of dilutive securities:        
Weighted-average shares outstanding adjustment (shares) 53,579 29,815 59,830 26,585
Class A common stock        
Denominator        
Weighted-average shares of Class A common stock outstanding - basic (in shares) 83,861,016 86,808,695 84,014,883 86,859,039
Effect of dilutive securities:        
Weighted-average shares of Class A common stock outstanding - diluted (in shares) 84,065,228 86,955,179 84,232,536 87,083,282
Earnings per share of Class A common stock - basic (in usd per share) $ 0.69 $ 0.56 $ 1.19 $ 0.95
Earnings per share of Class A common stock - diluted (in usd per share) $ 0.69 $ 0.56 $ 1.19 $ 0.95
v3.25.2
Earnings per share - Schedule of Common Stock Equivalents Excluded From The Computation Of Diluted Net Income per Share (Details) - shares
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total 333,295 732,096 337,625 955,977
Class B common stock        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total 332,799 729,693 337,295 953,130
Stock options        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total 0 0 0 562
Restricted stock units        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total 248 1,811 165 1,120
Performance stock units        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total 248 592 165 1,165
v3.25.2
Income taxes - Additional information (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
USD ($)
Jun. 30, 2024
Jun. 30, 2025
USD ($)
agreement
Jun. 30, 2024
Dec. 31, 2024
USD ($)
Tax Credit Carryforward [Line Items]          
Effective income tax rate 29.70% 27.30% 28.80% 27.80%  
Net deferred tax assets $ 441,832   $ 441,832   $ 468,811
Total liability related to uncertain tax positions 351   351   297
Tax benefit obligation $ 413,613   $ 413,613   $ 466,916
TRA Holders          
Tax Credit Carryforward [Line Items]          
Number of tax receivable agreements | agreement     2    
Applicable tax savings (in percentage) 85.00%   85.00%    
Percentage of remaining tax savings     15.00%    
v3.25.2
Income taxes - Schedule of Tax Benefit Arrangements (Details) - Continuing LLC Owners - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Income Tax Disclosure [Line Items]        
Net deferred tax assets $ 835 $ 6,538 $ 901 $ 13,658
Tax benefit arrangement liabilities $ 732 $ 5,070 $ 732 $ 7,765
Class A common stock        
Income Tax Disclosure [Line Items]        
Holding units exchanged (in shares) 25,713 420,563 25,713 746,636
v3.25.2
Income taxes - Schedule of Future Payments Under Tax Benefit Arrangements (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Income Tax Disclosure [Abstract]    
Remainder of 2025 $ 1,327  
2026 53,717  
2027 40,985  
2028 42,389  
2029 44,125  
Thereafter 231,070  
Total $ 413,613 $ 466,916
v3.25.2
Segments - Additional Information (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
segment
Jun. 30, 2024
USD ($)
Segment Reporting Information [Line Items]        
Number of reportable segments | segment     3  
Corporate-owned clubs        
Segment Reporting Information [Line Items]        
Capital expenditures | $ $ 30,848 $ 32,595 $ 49,905 $ 54,554
v3.25.2
Segments - Schedule of Financial Information for the Company's Reportable Segments (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting Information [Line Items]        
Total revenue $ 340,879 $ 300,941 $ 617,541 $ 548,958
Segment Adjusted EBITDA 169,535 145,594 307,691 268,928
Franchise        
Segment Reporting Information [Line Items]        
Total revenue 119,658 107,790 234,838 211,810
Segment Adjusted EBITDA 86,502 77,454 171,367 153,592
Corporate-owned clubs        
Segment Reporting Information [Line Items]        
Total revenue 138,989 125,466 272,658 247,844
Segment Adjusted EBITDA 56,598 49,565 102,447 91,963
Equipment        
Segment Reporting Information [Line Items]        
Total revenue 82,232 67,685 110,045 89,304
Segment Adjusted EBITDA $ 26,435 $ 18,575 $ 33,877 $ 23,373
v3.25.2
Segments- Schedule of Significant Expense Categories (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting, Other Significant Reconciling Item [Line Items]        
Selling, general and administrative $ 35,511 $ 31,613 $ 69,818 $ 60,806
National advertising fund expense 22,777 20,112 44,721 39,904
Cost of revenue 59,423 51,934 81,908 70,927
Total operating costs and expenses 238,477 213,562 435,937 395,757
Franchise        
Segment Reporting, Other Significant Reconciling Item [Line Items]        
Selling, general and administrative 8,772 7,835 15,985 14,619
National advertising fund expense 22,777 20,112 44,721 39,904
Cost of revenue 2,231 2,108 3,263 3,270
Other segment expenses, net (624) 281 (498) 425
Total operating costs and expenses 33,156 30,336 63,471 58,218
Corporate-owned clubs        
Segment Reporting, Other Significant Reconciling Item [Line Items]        
Selling, general and administrative 2,464 3,979 6,166 7,572
Other segment expenses, net 4,916 2,107 9,168 4,385
Total operating costs and expenses 82,391 75,901 170,211 155,881
Club compensation and payroll 23,822 20,824 47,147 42,046
Rent & occupancy 30,631 28,676 60,825 56,229
Marketing 9,300 9,616 24,386 25,455
Operational and other 11,258 10,699 22,519 20,194
Total 30,848 32,595 49,905 54,554
Equipment        
Segment Reporting, Other Significant Reconciling Item [Line Items]        
Cost of revenue 55,425 48,501 75,304 64,672
Other segment expenses, net 372 609 864 1,259
Total $ 55,797 $ 49,110 $ 76,168 $ 65,931
v3.25.2
Segments - Schedule of Reconciliation of Total Segment Adjusted EBITDA to Income Before Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Segment Adjusted EBITDA $ 169,535 $ 145,594 $ 307,691 $ 268,928
Depreciation and amortization (38,429) (39,817) (76,710) (79,197)
Interest income 5,690 5,616 11,502 11,077
Interest expense (26,181) (24,533) (52,378) (45,966)
Losses from equity-method investments, net of tax 628 1,216 1,433 2,416
Income before income taxes 83,853 69,505 142,953 120,002
Operating Segments        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Segment Adjusted EBITDA 169,535 145,594 307,691 268,928
Corporate and Other        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Depreciation and amortization (38,429) (39,817) (76,710) (79,197)
Interest income 5,690 5,616 11,502 11,077
Interest expense (26,181) (24,533) (52,378) (45,966)
Losses from equity-method investments, net of tax 628 1,216 1,433 2,416
Corporate and other unallocated expenses, net $ (27,390) $ (18,571) $ (48,585) $ (37,256)
v3.25.2
Segments - Schedule of Geographical Revenue & Long- Lived Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]          
Total revenue $ 340,879 $ 300,941 $ 617,541 $ 548,958  
Total long-lived assets, net 947,026   947,026   $ 903,436
United States          
Revenues from External Customers and Long-Lived Assets [Line Items]          
Total revenue 333,536 295,054 603,446 533,157  
Total long-lived assets, net 902,639   902,639   882,022
Rest of world          
Revenues from External Customers and Long-Lived Assets [Line Items]          
Total revenue 7,343 $ 5,887 14,095 $ 15,801  
Total long-lived assets, net $ 44,387   $ 44,387   $ 21,414
v3.25.2
Corporate-owned and franchisee-owned clubs - Schedule of Changes in Corporate-owned and Franchisee-owned Clubs (Details) - store
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Number Of Stores [Roll Forward]        
Clubs operated at beginning of period 2,741 2,599 2,722 2,575
New clubs opened 23 18 42 43
Clubs debranded, sold, closed or consolidated (2) 0 (2) (1)
Clubs operated at end of period 2,762 2,617 2,762 2,617
Franchisee-owned clubs:        
Number Of Stores [Roll Forward]        
Clubs operated at beginning of period 2,461 2,341 2,445 2,319
New clubs opened 20 17 36 40
Clubs debranded, sold, closed or consolidated (2) 0 (2) (1)
Clubs operated at end of period 2,479 2,358 2,479 2,358
Corporate-owned clubs:        
Number Of Stores [Roll Forward]        
Clubs operated at beginning of period 280 258 277 256
New clubs opened 3 1 6 3
Clubs operated at end of period 283 259 283 259