PLANET FITNESS, INC., 10-Q filed on 5/7/2026
Quarterly Report
v3.26.1
Cover - shares
 3 Months Ended
Mar. 31, 2026
May 04, 2026
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2026  
Document Transition Report false  
Entity File Number 001-37534  
Entity Registrant Name PLANET FITNESS, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 38-3942097  
Entity Address, Address Line One 4 Liberty Lane West  
Entity Address, City or Town Hampton  
Entity Address, State or Province NH  
Entity Address, Postal Zip Code 03842  
City Area Code 603  
Local Phone Number 750-0001  
Title of 12(b) Security Class A common stock, $0.0001 Par Value  
Trading Symbol PLNT  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Amendment Flag false  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Entity Central Index Key 0001637207  
Current Fiscal Year End Date --12-31  
Class A common stock    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   79,126,649
Class B common stock    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   316,128
v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 375,273 $ 345,652
Restricted cash 81,223 66,304
Short-term marketable securities 98,533 106,761
Accounts receivable, net of allowances for uncollectible amounts of $428 as of March 31, 2026 and December 31, 2025 41,076 70,431
Inventory 4,809 7,581
Restricted assets - national advertising fund 15,376 0
Prepaid expenses 26,275 24,605
Other receivables 42,590 34,094
Income tax receivable 1,917 2,958
Total current assets 687,072 658,386
Long-term marketable securities 96,963 88,263
Investments, net of allowance for expected credit losses 68,927 69,700
Property and equipment, net of accumulated depreciation of $482,134 and $453,852, as of March 31, 2026 and December 31, 2025, respectively 452,201 466,747
Right-of-use assets, net 398,676 409,320
Intangible assets, net 278,389 286,409
Goodwill 712,340 712,450
Deferred income taxes 394,765 406,724
Other assets, net 15,308 5,396
Total assets 3,104,641 3,103,395
Current liabilities:    
Current maturities of long-term debt 25,750 23,875
Accounts payable 33,094 39,683
Accrued expenses 68,789 75,371
Equipment deposits 7,414 10,165
Deferred revenue, current 86,373 58,593
Payable pursuant to tax benefit arrangements, current 55,508 55,518
Other current liabilities 54,810 49,285
Total current liabilities 331,738 312,490
Long-term debt, net of current maturities 2,453,337 2,458,379
Lease liabilities, net of current portion 406,984 419,120
Deferred revenue, net of current portion 29,133 29,657
Deferred tax liabilities 1,076 1,177
Payable pursuant to tax benefit arrangements, net of current portion 360,273 360,273
Other liabilities 4,892 5,677
Total noncurrent liabilities 3,255,695 3,274,283
Commitments and contingencies (Note 12)
Stockholders’ equity (deficit):    
Additional paid in capital 625,604 623,333
Accumulated other comprehensive (loss) income (605) 1,311
Accumulated deficit (1,107,227) (1,107,429)
Total stockholders’ deficit attributable to Planet Fitness, Inc. (482,220) (482,777)
Non-controlling interests (572) (601)
Total stockholders’ deficit (482,792) (483,378)
Total liabilities and stockholders’ deficit 3,104,641 3,103,395
Class A common stock    
Stockholders’ equity (deficit):    
Common stock, value 8 8
Class B common stock    
Stockholders’ equity (deficit):    
Common stock, value $ 0 $ 0
v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)
shares in Thousands, $ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Accounts receivable, allowance for bad debts $ 428 $ 428
Accumulated depreciation $ 482,134 $ 453,852
Class A common stock    
Stockholders’ equity (deficit):    
Common stock, par value (in usd per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 300,000 300,000
Common stock, shares issued (in shares) 79,124 80,446
Common stock, shares outstanding (in shares) 79,124 80,446
Class B common stock    
Stockholders’ equity (deficit):    
Common stock, par value (in usd per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 100,000 100,000
Common stock, shares issued (in shares) 316 316
Common stock, shares outstanding (in shares) 316 316
v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenue:    
Total revenue $ 337,236 $ 276,662
Operating costs and expenses:    
Cost of revenue 45,341 22,485
Club operations 88,194 81,680
Selling, general and administrative 34,150 34,307
National advertising fund expense 32,218 21,944
Depreciation and amortization 40,251 38,281
Other gains, net (1,587) (1,237)
Total operating costs and expenses 238,567 197,460
Income from operations 98,669 79,202
Other income (expense), net:    
Interest income 5,662 5,812
Interest expense (32,967) (26,197)
Other income, net 615 283
Total other expense, net (26,690) (20,102)
Income before income taxes 71,979 59,100
Provision for income taxes 19,309 16,216
Losses from equity-method investments, net of tax (874) (805)
Net income 51,796 42,079
Less net income attributable to non-controlling interests 242 212
Net income attributable to Planet Fitness, Inc. $ 51,554 $ 41,867
Class A common stock    
Net income per share of Class A common stock:    
Basic (in usd per share) $ 0.65 $ 0.50
Diluted (in usd per share) $ 0.65 $ 0.50
Weighted-average shares of Class A common stock outstanding:    
Basic (in shares) 79,575,118 84,170,460
Diluted (in shares) 79,786,242 84,401,899
Franchise    
Revenue:    
Total revenue $ 102,249 $ 93,240
National advertising fund revenue    
Revenue:    
Total revenue 32,218 21,940
Corporate-owned clubs    
Revenue:    
Total revenue 140,622 133,669
Equipment    
Revenue:    
Total revenue $ 62,147 $ 27,813
v3.26.1
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Statement of Comprehensive Income [Abstract]    
Net income including non-controlling interests $ 51,796 $ 42,079
Other comprehensive (loss) income, net    
Foreign currency translation adjustments (1,304) 868
Unrealized (loss) gain on marketable securities, net of tax (612) 128
Total other comprehensive (loss) income, net (1,916) 996
Total comprehensive income including non-controlling interests 49,880 43,075
Less: total comprehensive income attributable to non-controlling interests 242 212
Total comprehensive income attributable to Planet Fitness, Inc. $ 49,638 $ 42,863
v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 51,796 $ 42,079
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 40,251 38,281
Equity-based compensation expense 2,981 2,631
Deferred tax expense 11,841 10,961
Amortization of deferred financing costs 1,536 1,314
Accretion of marketable securities discount (131) (488)
Losses from equity-method investments, net of tax 874 805
Dividends accrued on held-to-maturity investment (603) (561)
Credit loss on held-to-maturity investment 502 292
Gain on re-measurement of tax benefit arrangement liability 0 (84)
Gain on insurance proceeds 0 (1,461)
Other (697) (260)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 29,404 38,490
Inventory 2,811 4,172
Other assets and other current assets 1,603 868
Restricted assets - national advertising fund (15,380) (16,670)
Accounts payable and accrued expenses (12,337) (13,934)
Other liabilities and other current liabilities (724) (918)
Income taxes 6,661 4,967
Payments pursuant to tax benefit arrangements (10) 0
Equipment deposits (2,751) 637
Deferred revenue 27,298 17,805
Leases 2,596 5,001
Net cash provided by operating activities 147,521 133,927
Cash flows from investing activities:    
Additions to property and equipment (25,501) (23,055)
Insurance proceeds for property and equipment 0 2,053
Payment of deferred consideration for acquired clubs 0 (1,479)
Purchases of marketable securities (36,395) (42,334)
Maturities of marketable securities 35,340 36,749
Issuance of promissory notes to related parties (20,647) 0
Other investing activities 0 (33)
Net cash used in investing activities (47,203) (28,099)
Cash flows from financing activities:    
Repayment of long-term debt (4,563) (5,625)
Payments of Financing Costs (141) 0
Proceeds from issuance of Class A common stock 613 655
Repurchase and retirement of Class A common stock (51,105) (50,009)
Principal payments on capital lease obligations (45) (31)
Distributions paid to members of Pla-Fit Holdings (365) (349)
Net cash used in financing activities (55,606) (55,359)
Effects of exchange rate changes on cash and cash equivalents (172) 348
Net increase in cash, cash equivalents and restricted cash 44,540 50,817
Cash, cash equivalents and restricted cash, beginning of period 411,956 349,674
Cash, cash equivalents and restricted cash, end of period 456,496 400,491
Supplemental cash flow information:    
Cash paid for interest 21,485 25,065
Net cash paid for income taxes 329 289
Non-cash investing activities:    
Non-cash additions to property and equipment included in accounts payable and accrued expenses $ 12,006 $ 10,645
v3.26.1
Condensed Consolidated Statements of Changes in Equity (Deficit) (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Total
Class A common stock
Class B common stock
Common stock
Class A common stock
Common stock
Class B common stock
Accumulated other comprehensive income (loss)
Additional paid- in capital
Accumulated deficit
Non-controlling interests
Beginning balance (in shares) at Dec. 31, 2024       84,323 342        
Beginning balance at Dec. 31, 2024 $ (215,373)     $ 9 $ 0 $ (2,348) $ 609,115 $ (822,156) $ 7
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 42,079             41,867 212
Equity-based compensation expense 2,631           2,631    
Repurchase and retirement of Class A common stock (in shares)       (544)          
Repurchase and retirement of Class A common stock (50,454)           (156) (50,454) 156
Issuance of shares under equity-based compensation plans (in shares)       57          
Issuance of shares under equity-based compensation plans 540           540    
Tax benefit arrangement liability and other adjustments 66           66    
Distributions paid to members of Pla-Fit Holdings (349)               (349)
Other comprehensive income (loss) 996         996      
Ending balance (in shares) at Mar. 31, 2025       83,836 342        
Ending balance at Mar. 31, 2025 (219,864)     $ 9 $ 0 (1,352) 612,196 (830,743) 26
Beginning balance (in shares) at Dec. 31, 2025   80,446 316 80,446 316        
Beginning balance at Dec. 31, 2025 (483,378)     $ 8 $ 0 1,311 623,333 (1,107,429) (601)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 51,796             51,554 242
Equity-based compensation expense 2,981           2,981    
Repurchase and retirement of Class A common stock (in shares)       (1,368)          
Repurchase and retirement of Class A common stock (51,352)           (152) (51,352) 152
Issuance of shares under equity-based compensation plans (in shares)       46          
Issuance of shares under equity-based compensation plans (558)           (558)    
Distributions paid to members of Pla-Fit Holdings (365)               (365)
Other comprehensive income (loss) (1,916)         (1,916)      
Ending balance (in shares) at Mar. 31, 2026   79,124 316 79,124 316        
Ending balance at Mar. 31, 2026 $ (482,792)     $ 8 $ 0 $ (605) $ 625,604 $ (1,107,227) $ (572)
v3.26.1
Business organization
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Business organization Business organization
Planet Fitness, Inc. (the “Company”), through its subsidiaries, is a franchisor and operator of fitness centers, with approximately 21.5 million members and 2,909 owned and franchised locations (referred to as clubs) in all 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico, Australia and Spain as of March 31, 2026.
The Company serves as the reporting entity for its various subsidiaries that operate three distinct lines of business:
•Licensing and selling franchises under the Planet Fitness trade name;
•Owning and operating fitness centers under the Planet Fitness trade name; and
•Selling fitness-related equipment to franchisee-owned clubs.
The Company is a holding company whose principal asset is a controlling equity interest in the membership units (“Holdings Units”) in Pla-Fit Holdings. As the sole managing member of Pla-Fit Holdings, LLC and its subsidiaries (“Pla-Fit Holdings”), the Company operates and controls all of the business and affairs of Pla-Fit Holdings, and through Pla-Fit Holdings, conducts its business. As a result, the Company consolidates Pla-Fit Holdings’ financial results and reports a non-controlling interest related to the portion of Holdings Units not owned by the Company.
v3.26.1
Summary of significant accounting policies
 3 Months Ended
Mar. 31, 2026
Accounting Policies [Abstract]  
Summary of significant accounting policies Summary of significant accounting policies
(a) Basis of presentation and consolidation
The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, these interim financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented have been reflected. All significant intercompany balances and transactions have been eliminated in consolidation.
The condensed consolidated financial statements as of and for the three months ended March 31, 2026 and 2025 are unaudited. The condensed consolidated balance sheet as of December 31, 2025 has been derived from the audited financial statements at that date but does not include all of the disclosures required by GAAP. These interim condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on February 25, 2026. The Company’s significant interim accounting policies include the proportional recognition of national advertising fund expenses within interim periods. Operating results for the interim periods are not necessarily indicative of the results that may be expected for the full year ending December 31, 2026.
(b) Use of estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. Significant areas where estimates and judgments are relied upon by management in the preparation of the condensed consolidated financial statements include revenue recognition, valuation of equity-based compensation awards, valuation of assets and liabilities acquired in business combinations, the evaluation of the recoverability of goodwill and long-lived assets, including intangible assets, allowance for expected credit losses, the present value of lease liabilities, income taxes, including deferred tax assets and liabilities, and the liability for the Company’s tax benefit arrangements.
(c) Fair Value
ASC 820, Fair Value Measurements and Disclosures, establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows:
Level 1—Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.
Level 2—Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.
Level 3—Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
Certain of the Company’s financial instruments, including cash and cash equivalents, restricted cash, accounts receivable, accounts payable, accrued expenses and other current liabilities are carried at cost, which approximates their fair value because of their short-term nature. See Note 3 for investments that are measured at fair value on a recurring basis and Note 5 for liabilities held at carrying value on the condensed consolidated balance sheet.
(d) Reclassification
Certain amounts have been reclassified to conform to current year presentation.
(e) Recent accounting pronouncements
The FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses, in November 2024. The standard requires disaggregated disclosures in the notes to the consolidated financial statements of certain expense categories that are included in expense line items on the face of the income statement. The new standard is effective for fiscal years beginning after December 15, 2026 on a prospective basis with the option to apply it retrospectively, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of adoption on our financial disclosures.
The FASB issued ASU No. 2025-06, Targeted Improvements to the Accounting for Internal-Use Software, in September 2025. The standard modernizes the capitalization criteria for internal-use software, eliminating references to project stages and instead requiring that projects meet completion probability criteria before costs can be capitalized. The Company adopted the standard using the prospective transition method, under which the amended guidance is applied to new software costs incurred on or after January 1, 2026 for all projects, including in-process projects. The adoption did not have a material impact on the Company’s consolidated financial statements.
v3.26.1
Investments
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
Marketable securities
The following tables summarize the amortized cost, net unrealized gains and losses, fair value, and the level in the fair value hierarchy of the Company’s available-for-sale investments in marketable securities. As of March 31, 2026, the marketable securities had maturity dates that ranged from less than one month to approximately 24 months. Realized gains and losses were insignificant for the three months ended March 31, 2026 and 2025.
(in thousands)
Amortized CostUnrealized Gains (Losses), Net
Fair Value(1)
Level 1Level 2
March 31, 2026
Cash equivalents
Money market funds$1,365 $— $1,365 $1,365 $— 
Total cash equivalents1,365 — 1,365 1,365 — 
Short-term marketable securities
Corporate debt securities95,299 33 95,332 — 95,332 
Commercial paper3,203 (2)3,201 — 3,201 
Total short-term marketable securities98,502 31 98,533 — 98,533 
Long-term marketable securities
Corporate debt securities95,466 (246)95,220 — 95,220 
U.S. government agency securities1,750 (7)1,743 — 1,743 
Total long-term marketable securities97,216 (253)96,963 — 96,963 
Total cash equivalents and marketable securities$197,083 $(222)$196,861 $1,365 $195,496 
(in thousands)
Amortized CostUnrealized Gains (Losses), Net
Fair Value(1)
Level 1Level 2
December 31, 2025
Cash equivalents
Money market funds$407 $— $407 $407 $— 
Total cash equivalents407 — 407 407 — 
Short-term marketable securities
Corporate debt securities99,371 205 99,576 — 99,576 
Commercial paper7,185 — 7,185 — 7,185 
Total short-term marketable securities106,556 205 106,761 — 106,761 
Long-term marketable securities
Corporate debt securities88,078 185 88,263 — 88,263 
Total long-term marketable securities88,078 185 88,263 — 88,263 
Total cash equivalents and marketable securities$195,041 $390 $195,431 $407 $195,024 
(1) Fair values were determined using market prices obtained from third-party pricing sources.
For marketable securities with unrealized loss positions, the Company does not intend to sell these securities and it is more likely than not that the Company will hold these securities until maturity or a recovery of the cost basis and they are therefore all categorized as available for sale. No allowance for credit losses was recorded for these securities as of March 31, 2026.
Held-to-maturity debt security
The Company has a debt security investment that consists of redeemable preferred shares with a contractual maturity in 2026, however, due to certain subordination clauses in the preferred share agreement, repayment obligations are subordinated to other instruments that mature in 2030. The investment is classified as held-to-maturity and measured at amortized cost within investments in the condensed consolidated balance sheets. The Company reviews its held-to-maturity securities for expected credit losses under ASC Topic 326, Financial Instruments – Credit Losses, on an ongoing basis.
The Company utilizes probability-of-default and loss-given-default methodologies to estimate the allowance for expected credit losses using historical lifetime loss information for assets with similar risk characteristics, adjusted for management’s expectations. Adjustments for management’s expectations were based on the investee’s recent financial results and forward-looking financial forecasts. Based upon its analysis, the Company recorded a credit loss expense of $0.5 million and $0.3 million for the three months ended March 31, 2026 and 2025, respectively, on the adjustment of its allowance for credit losses within other gain, 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 $35.5 million and $34.9 million as of March 31, 2026 and December 31, 2025, respectively. The amortized cost, net of the allowance for expected credit losses, approximates fair value. The Company recognized dividend income of $0.6 million during the three months ended March 31, 2026 and 2025, within other income, net on the condensed consolidated statements of operations.
A roll forward of the Company’s allowance for expected credit losses on its held-to-maturity investment is as follows:
Three Months Ended March 31,
(in thousands)
20262025
Beginning allowance for expected credit losses$24,424 $18,834 
Loss on adjustment of allowance for expected credit losses502 292 
Write-offs, net of recoveries— — 
Ending allowance for expected credit losses$24,926 $19,126 
Equity method investments
For the following investments, the Company recorded its proportionate share of the investees’ earnings, prepared in accordance with GAAP, on a one-month lag, with adjustments to eliminate unrealized profits on intra-entity sales, if any, and the amortization of basis differences, within losses from equity-method investments, net of tax on the condensed consolidated statements of operations. As of March 31, 2026, the Company determined that no impairment of its equity method investments existed.
As of March 31, 2026 and December 31, 2025, 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 $12.4 million and $12.5 million, respectively. The difference between the carrying amount of the Company’s investment and the underlying amount of equity in net assets of the investment was $3.7 million and $4.5 million as of March 31, 2026 and December 31, 2025, respectively. This basis difference is attributable to intangible assets, which are being amortized on a straight-line basis over a weighted-average life of 9 years, and equity method goodwill. The Company’s proportionate share of the losses in accordance with the equity method was $0.1 million and $0.3 million for the three months ended March 31, 2026 and 2025, respectively, which included the amortization of basis difference of $0.1 million for each period.
As of March 31, 2026 and December 31, 2025, the Company held a 33.2% ownership interest in Planet Fitmex, LLC, a franchisee of the Company and club operator in Mexico, which is deemed to be a related party, for a total investment carrying value of $46.0 million and $46.8 million, respectively. The difference between the carrying amount of the Company’s investment and the underlying amount of equity in net assets of the investment was $14.4 million and $16.5 million as of March 31, 2026 and December 31, 2025, respectively. This basis difference is attributable to intangible assets, which are being amortized on a straight-line basis over a weighted-average life of 9 years, and equity method goodwill. The Company’s proportionate share of the losses in accordance with the equity method was $0.8 million and $0.5 million for the three months ended March 31, 2026 and 2025, respectively, which included the amortization of basis differences of $0.2 million for each period.
v3.26.1
Goodwill and intangible assets
 3 Months Ended
Mar. 31, 2026
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:
(in thousands)
FranchiseCorporate-owned ClubsEquipment
Amount
Goodwill at December 31, 2025
$16,938 $602,846 $92,666 $712,450 
Acquisitions
— — — — 
Foreign currency translation
— (110)— (110)
Goodwill at March 31, 2026
$16,938 $602,736 $92,666 $712,340 
In December 2025, the Company’s operating entity in Spain completed an immaterial acquisition of two clubs. The acquisition resulted in the addition of $1.9 million in the carrying value of goodwill, which is based on the Company’s preliminary allocation of the purchase consideration and may be subject to change within the measurement period.
A summary of intangible assets is as follows:
March 31, 2026December 31, 2025
(in thousands)
Gross
carrying
amount		Accumulated
amortization
Net carrying
amount
Gross
carrying
amount		Accumulated
amortization
Net carrying
amount
Finite-lived intangible assets:
Customer relationships$199,043 $(186,988)$12,055 $199,043 $(186,199)$12,844 
Reacquired franchise rights274,708 (154,778)119,930 274,708 (147,547)127,161 
Total finite-lived intangible assets473,751 (341,766)131,985 473,751 (333,746)140,005 
Indefinite-lived intangible assets:
Trade and brand names146,404 — 146,404 146,404 — 146,404 
Total intangible assets$620,155 $(341,766)$278,389 $620,155 $(333,746)$286,409 
The Company determined that no impairment charges were required during any periods presented.
Amortization expense related to the finite-lived intangible assets totaled $8.0 million and $9.2 million for the three months ended March 31, 2026 and 2025, respectively. The anticipated amortization expense related to intangible assets to be recognized in future periods as of March 31, 2026 is as follows:
(in thousands)
Amount
Remainder of 2026$24,059 
202727,956 
202827,300 
202923,675 
203017,920 
Thereafter11,075 
Total$131,985 
v3.26.1
Long-term debt
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Long-term debt Long-term debt
Long-term debt consists of the following: 
(in thousands)
March 31, 2026December 31, 2025
2019-1 Class A-2 notes$515,625 $517,000 
2022-1 Class A-2-II notes456,000 457,188 
2024-1 Class A-2-I notes
418,625 419,688 
2024-1 Class A-2-II notes
369,375 370,312 
2025-1 Class A-2-I notes
400,000 400,000 
2025-1 Class A-2-II notes
350,000 350,000 
Total debt, excluding deferred financing costs2,509,625 2,514,188 
Deferred financing costs, net of accumulated amortization(30,538)(31,934)
Total debt, net2,479,087 2,482,254 
Current portion of long-term debt25,750 23,875 
Long-term debt, net of current portion$2,453,337 $2,458,379 
Future principal payments of long-term debt as of March 31, 2026 are as follows: 
(in thousands)
Amount
Remainder of 2026$19,312 
202725,750 
202825,750 
2029923,438 
2030397,000 
Thereafter1,118,375 
Total$2,509,625 
The carrying value and estimated fair value of long-term debt were as follows:
March 31, 2026December 31, 2025
(in thousands)
Carrying value
Estimated fair value(1)
Carrying value
Estimated fair value(1)
Long-term debt
$2,509,625 $2,440,305 $2,514,188 $2,486,700 
(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.
v3.26.1
Leases
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases Leases
The right-of-use assets and lease liabilities for operating and finance leases, including their classification in the condensed consolidated balance sheets, were as follows:
(in thousands)

Leases
Balance Sheet ClassificationMarch 31, 2026December 31, 2025
Assets
OperatingRight of use asset, net$398,676 $409,320 
FinanceProperty and equipment, net 912 964 
Total lease assets$399,588 $410,284 
Liabilities
Current:
OperatingOther current liabilities$48,455 $44,397 
FinanceOther current liabilities205 203 
Noncurrent:
OperatingLease liabilities, net of current portion406,984 419,120 
FinanceOther liabilities725 773 
Total lease liabilities$456,369 $464,493 
Weighted-average remaining lease term - operating leases7.6 years7.8 years
Weighted-average discount rate - operating leases5.9%5.9%
The components of lease cost were as follows:
Three Months Ended March 31,
(in thousands)
20262025
Operating lease cost$19,761 $19,205 
Variable lease cost7,298 6,990 
Total lease cost$27,059 $26,195 
The Company’s costs related to short-term leases, those with a duration between one and twelve months, were immaterial.
Supplemental disclosures of cash flow information related to leases were as follows:
Three Months Ended March 31,
(in thousands)
20262025
Cash paid for lease liabilities, net
$17,158 $14,071 
Operating lease ROU assets obtained in exchange for operating lease liabilities
$2,395 $33,098 
Maturities of lease liabilities as of March 31, 2026 were as follows:
(in thousands)
Amount
Remainder of 2026$72,147 
202783,006 
202883,322 
202979,577 
203070,195 
Thereafter205,794 
Total lease payments$594,041 
Less: imputed interest(137,672)
Present value of lease liabilities$456,369 
As of March 31, 2026, future operating lease payments exclude approximately $22.0 million of legally binding minimum lease payments for leases signed but not yet commenced.
Leases Leases
The right-of-use assets and lease liabilities for operating and finance leases, including their classification in the condensed consolidated balance sheets, were as follows:
(in thousands)

Leases
Balance Sheet ClassificationMarch 31, 2026December 31, 2025
Assets
OperatingRight of use asset, net$398,676 $409,320 
FinanceProperty and equipment, net 912 964 
Total lease assets$399,588 $410,284 
Liabilities
Current:
OperatingOther current liabilities$48,455 $44,397 
FinanceOther current liabilities205 203 
Noncurrent:
OperatingLease liabilities, net of current portion406,984 419,120 
FinanceOther liabilities725 773 
Total lease liabilities$456,369 $464,493 
Weighted-average remaining lease term - operating leases7.6 years7.8 years
Weighted-average discount rate - operating leases5.9%5.9%
The components of lease cost were as follows:
Three Months Ended March 31,
(in thousands)
20262025
Operating lease cost$19,761 $19,205 
Variable lease cost7,298 6,990 
Total lease cost$27,059 $26,195 
The Company’s costs related to short-term leases, those with a duration between one and twelve months, were immaterial.
Supplemental disclosures of cash flow information related to leases were as follows:
Three Months Ended March 31,
(in thousands)
20262025
Cash paid for lease liabilities, net
$17,158 $14,071 
Operating lease ROU assets obtained in exchange for operating lease liabilities
$2,395 $33,098 
Maturities of lease liabilities as of March 31, 2026 were as follows:
(in thousands)
Amount
Remainder of 2026$72,147 
202783,006 
202883,322 
202979,577 
203070,195 
Thereafter205,794 
Total lease payments$594,041 
Less: imputed interest(137,672)
Present value of lease liabilities$456,369 
As of March 31, 2026, future operating lease payments exclude approximately $22.0 million of legally binding minimum lease payments for leases signed but not yet commenced.
v3.26.1
Revenue from contract with customers
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue from contract with customers Revenue from contracts with customers
Contract liabilities consist primarily of deferred revenue resulting from franchise fees and area development agreement (“ADA”) fees paid by franchisees, as well as transfer fees, which are generally recognized on a straight-line basis over the term of the underlying franchise agreement, and 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, 2025 and March 31, 2026:
(in thousands)
Amount
Balance at December 31, 2025
$88,250 
Revenue recognized that was included in the contract liability at the beginning of the year(37,901)
Increase, excluding amounts recognized as revenue during the period65,157 
Balance at March 31, 2026
$115,506 
The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations from contract liabilities that are unsatisfied, or partially unsatisfied, as of March 31, 2026. The Company has elected to exclude short-term contracts, sales and usage-based royalties and any other variable consideration recognized on an “as invoiced” basis.
(in thousands)
Amount
Remainder of 2026$84,883 
20275,191 
20283,719 
20293,275 
20302,899 
Thereafter15,539 
Total$115,506 
Equipment deposits received in advance of delivery as of March 31, 2026 were $7.4 million and are expected to be recognized as revenue within the next 12 months.
v3.26.1
Related party transactions
 3 Months Ended
Mar. 31, 2026
Related Party Transactions [Abstract]  
Related party transactions Related party transactions
Activity with franchisees considered to be related parties is summarized below:
 Three Months Ended March 31,
(in thousands)
20262025
Franchise revenue
$3,296 $2,226 
Equipment revenue
589 110 
Total revenue from related parties$3,885 $2,336 
The Company had $4.5 million and $5.4 million of accounts receivable attributable to related parties as of March 31, 2026 and December 31, 2025, respectively.
Additionally, the Company had deferred ADA and franchise agreement revenue from related parties of $0.9 million and $0.8 million as of March 31, 2026 and December 31, 2025.
As of March 31, 2026 and December 31, 2025, the Company had $1.0 million and $83.9 million, respectively, payable to related parties pursuant to tax benefit arrangements. See Note 11 for further discussion of these arrangements.
In November 2024, the Company issued a promissory note of up to $10.0 million to a franchisee. Amounts borrowed under the promissory note accrue interest at the Secured Overnight Financing Rate (“SOFR”) plus 4% and must be repaid no later than December 31, 2026. As of March 31, 2026 and December 31, 2025, $6.6 million and $5.1 million, respectively, was issued and outstanding on the promissory note. During the three months ended March 31, 2026, interest receivable accrued on the outstanding promissory note was $0.1 million. An immaterial amount of interest receivable was accrued during the three months ended March 31, 2025. The outstanding amount of the promissory note is included in other receivables on the condensed consolidated balance sheets.
In January 2026, the Company issued promissory notes of up to $20.0 million to a franchisee and its affiliates. Amounts borrowed under the promissory notes accrue interest at SOFR plus 5.5% and must be repaid no later than June 30, 2026. As of March 31, 2026, $19.3 million was issued and outstanding on the promissory notes. During the three months ended March 31, 2026, interest receivable accrued on the outstanding promissory notes was $0.2 million. The outstanding amount of the promissory notes is included in other receivables on the condensed consolidated balance sheets.
The Company provides administrative services to the NAF and typically charges the NAF a fee for providing these services. The services provided, which include accounting, information technology, data processing, product development, legal and administrative support, and other operating expenses, amounted to $1.8 million and $1.7 million for the three months ended March 31, 2026 and 2025, 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 $0.1 million during both the three months ended March 31, 2026 and 2025.
v3.26.1
Stockholders' equity
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Stockholders' equity Stockholders’ equity
Pursuant to the exchange agreement between the Company and the owners of Holdings Units other than the Company (the “Continuing LLC Owners”), the Continuing LLC Owners (or certain permitted transferees thereof) have the right, from time to time and subject to the terms of the exchange agreement, to exchange their Holdings Units, along with a corresponding number of shares of Class B common stock, for shares of Class A common stock (or cash at the option of the Company) on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends, reclassifications and similar transactions. In connection with any exchange of Holdings Units for shares of Class A common stock by a Continuing LLC Owner, the number of Holdings Units held by the Company is correspondingly increased as it acquires the exchanged Holdings Units, and a corresponding number of shares of Class B common stock are canceled.
As of March 31, 2026:
•Holders of Class A common stock owned 79,123,551 shares of Class A common stock, representing 99.6% of the voting power in the Company and, through the Company, 79,123,551 Holdings Units representing 99.6% of the economic interest in Pla-Fit Holdings; and
•the Continuing LLC Owners collectively owned 316,128 Holdings Units, representing 0.4% of the economic interest in Pla-Fit Holdings, and 316,128 shares of Class B common stock, representing 0.4% of the voting power in the Company.
Share repurchase program
2024 share repurchase program
On June 13, 2024, the Company’s board of directors conditionally approved a share repurchase program of up to $500.0 million (the “2024 Share Repurchase Program”), which became effective on September 16, 2024. During the three months ended March 31, 2025, the Company repurchased and retired 544,226 shares of Class A common stock for a total cost of $50.0 million. A share repurchase excise tax of $0.4 million was also incurred.
On December 12, 2025, the Company entered into a $350.0 million accelerated share repurchase agreement (the “2025 ASR Agreement”) with Citibank, N.A. (the “Bank”). Pursuant to the terms of the 2025 ASR Agreement, on December 16, 2025, the Company paid the Bank $350.0 million in cash and received 2,548,234 shares of the Company’s Class A common stock, which were retired, and the Company recorded an increase to accumulated deficit of $280.0 million, representing 80% of the total 2025 ASR Agreement value based on the closing price of the Company’s Class A common stock on the commencement date of the transaction. Final settlement of the 2025 ASR Agreement occurred on January 12, 2026. At final settlement, the Bank delivered an additional 754,644 shares of the Company’s Class A common stock, which were retired by the Company. The final number of shares repurchased was determined based on the volume-weighted average stock price of the Company’s Class A common stock of $108.76 during the term of the transaction, less a discount and subject to adjustments pursuant to the terms and conditions of the 2025 ASR Agreement. The 2025 ASR Agreement had been evaluated as an unsettled forward contract indexed to our Class A common stock, with $70.0 million classified as an increase to accumulated deficit at the original date of payment.
2025 share repurchase program
On December 15, 2025, the Company’s board of directors conditionally approved a share repurchase program of up to $500.0 million (the “2025 Share Repurchase Program”), which became effective on January 12, 2026.
During the three months ended March 31, 2026, the Company repurchased and retired 613,725 shares of Class A common stock for a total cost of $50.0 million, in addition to the above-mentioned 2025 ASR Agreement amounts. A share repurchase excise tax of $1.2 million was also incurred. As of March 31, 2026, there is $450.0 million remaining under the 2025 Share Repurchase Program.
The timing of purchases and amount of stock repurchased are subject to the Company’s discretion and dependent upon market and business conditions, the Company’s general working capital needs, stock price, applicable legal requirements and other factors. The ability to repurchase shares at any particular time is also subject to the terms of the indenture governing the Company’s securitized senior notes. Purchases may be effected through one or more open market transactions, privately negotiated transactions, transactions structured through investment banking institutions, or a combination of the foregoing.
Preferred stock
The Company had 50,000,000 shares of preferred stock authorized and none issued or outstanding as of March 31, 2026 and December 31, 2025.
v3.26.1
Earnings per share
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Earnings per share Earnings per share
Basic earnings per share of Class A common stock is computed by dividing net income attributable to Planet Fitness, Inc. by the weighted-average number of shares of Class A common stock outstanding. Diluted earnings per share of Class A common stock is computed by dividing net income attributable to Planet Fitness, Inc. by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities.
Shares of the Company’s Class B common stock do not share in the earnings attributable to Planet Fitness, Inc. and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class B common stock under the two-class method has not been presented. Shares of the Company’s Class B common stock are, however, considered potentially dilutive shares of Class A common stock because shares of Class B common stock, together with the related Holdings Units, are exchangeable into shares of Class A common stock on a one-for-one basis.
The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock:
 Three Months Ended March 31,
(in thousands, except share and per share amounts)
20262025
Numerator  
Net income$51,796 $42,079 
Less: net income attributable to non-controlling interests242 212 
Net income attributable to Planet Fitness, Inc.$51,554 $41,867 
Denominator
Weighted-average shares of Class A common stock outstanding - basic79,575,118 84,170,460 
Effect of dilutive securities:
Stock options31,818 40,975 
Restricted stock units106,535 126,762 
Performance stock units72,771 63,702 
Weighted-average shares of Class A common stock outstanding - diluted79,786,242 84,401,899 
Earnings per share of Class A common stock - basic$0.65 $0.50 
Earnings per share of Class A common stock - diluted$0.65 $0.50 
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 March 31,
20262025
Class B common stock
316,128 341,841 
Restricted stock units1,813 1,993 
Performance stock units— 1,909 
Total
317,941 345,743 
v3.26.1
Income taxes
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Income taxes Income taxes
The Company is the sole managing member of Pla-Fit Holdings, which is treated as a partnership for U.S. federal and certain state and local income taxes. As a partnership, Pla-Fit Holdings is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by Pla-Fit Holdings is passed through to and included in the taxable income or loss of its members, including the Company, on a pro-rata basis.
Planet Fitness, Inc. is subject to U.S. federal income taxes, in addition to state and local income taxes with respect to the allocable share of any taxable income of Pla-Fit Holdings. The Company’s effective tax rate was 26.8% and 27.4% for the three months ended March 31, 2026 and 2025, respectively, which differed from the U.S. federal statutory rate of 21% primarily due to state and local taxes and a remeasurement of deferred tax assets. The Company is also subject to taxes in foreign jurisdictions.
Net deferred tax assets of $393.7 million and $405.5 million as of March 31, 2026 and December 31, 2025, respectively, relate primarily to the tax effects of temporary differences in the book basis as compared to the tax basis of the investment in Pla-Fit Holdings as a result of the secondary offerings, other exchanges, recapitalization transactions and the IPO.
As of March 31, 2026 and December 31, 2025, the total liability related to uncertain tax positions was $0.5 million. The Company recognizes accrued interest and penalties, if applicable, related to unrecognized tax benefits in income tax expense. Interest and penalties for the three months ended March 31, 2026 and 2025 were not material.
Tax benefit arrangements
The Company’s acquisition of Holdings Units in connection with the initial public offering (“IPO”) and future and certain past exchanges of Holdings Units for shares of the Company’s Class A common stock (or cash at the option of the Company) are expected to produce and have produced favorable tax attributes. In connection with the IPO, the Company entered into two tax receivable agreements, pursuant to which, the Company is required to make payments to certain holders of equity interests or their successors-in-interest (“TRA Holders”). Under the first of those arrangements, the Company generally is required to pay certain existing and previous equity owners of Pla-Fit Holdings, LLC 85% of the applicable tax savings, if any, in U.S. federal and state income tax that the Company is deemed to realize as a result of certain tax attributes of their Holdings Units sold to the Company (or exchanged in a taxable sale) and that are created as a result of (i) the sales of their Holdings Units for shares of Class A common stock and (ii) tax benefits attributable to payments made under the tax receivable agreement (including imputed interest). Under the second tax receivable agreement, the Company generally is required to pay 85% of the amount of tax savings, if any, that the Company is deemed to realize as a result of the tax attributes of certain equity interests previously held by affiliates of TSG Consumer Partners, LLC that resulted from their purchase of interests in Pla-Fit Holdings in 2012, and certain other tax benefits. Under both agreements, the Company generally retains the remaining 15% benefit of the applicable tax savings.
The Company had a liability of $415.8 million as of March 31, 2026 and December 31, 2025, respectively, related to its projected obligations under the tax benefit arrangements.
Projected future payments under the tax benefit arrangements were as follows:
(in thousands)
Amount
Remainder of 2026$55,508 
202741,498 
202842,612 
202944,442 
203047,103 
Thereafter184,618 
Total$415,781 
v3.26.1
Commitments and contingencies
 3 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and contingencies Commitments and contingencies
From time to time, and in the ordinary course of business, the Company is subject to various claims, charges, and litigation, such as employment-related claims and slip and fall cases.
The Company is not currently aware of any other legal proceedings or claims that the Company believes will have, individually or in the aggregate, a material adverse effect on the Company’s financial position or result of operations.
v3.26.1
Segments
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segments Segments
The Company has three reportable segments: (i) Franchise; (ii) Corporate-owned clubs; and (iii) Equipment.
The Company’s operations are organized and managed by type of products and services and segment information is reported accordingly. The Company’s chief operating decision maker (the “CODM”) is its Chief Executive Officer. The CODM reviews financial performance and allocates resources by reportable segment. There have been no operating segments aggregated to arrive at the Company’s reportable segments. Revenues for all operating segments include only transactions with unaffiliated customers and include no intersegment revenues. The accounting policies of the reportable segments are the same as those described in Note 2.
The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, Canada, Panama, Mexico and Australia. The Company records all revenues and expenses of the NAFs within the franchise segment. The Corporate-owned clubs segment includes operations with respect to all Corporate-owned clubs throughout the United States, Canada, and Spain. The Equipment segment includes the sale of equipment to franchisee-owned clubs.
The CODM evaluates the performance of the Company’s reportable segments based on revenue and Segment Adjusted EBITDA. Segment Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, and amortization, adjusted for the impact of certain non-cash and other items that the CODM does not consider in her evaluation of ongoing performance of
the segment’s core operations. The CODM utilizes Segment Adjusted EBITDA when making decisions about allocating resources to the segments as well to assess the performance for each segment by comparing the results of each segment and in the compensation of certain employees. No asset information has been provided for these reportable segments as the CODM does not regularly review asset information by reportable segment.
The following tables summarize total revenue and total Segment Adjusted EBITDA for the Company’s reportable segments.
 Three Months Ended March 31,
(in thousands)
20262025
Franchise$134,467 $115,180 
Corporate-owned clubs140,622 133,669 
Equipment62,147 27,813 
Total revenue$337,236 $276,662 
 Three Months Ended March 31,
(in thousands)
20262025
Franchise$94,721 $84,865 
Corporate-owned clubs46,485 45,849 
Equipment19,467 7,442 
Segment Adjusted EBITDA
$160,673 $138,156 
The following tables summarize the significant expense categories and amounts for each of the Company’s reportable segments and align with the segment level information that is regularly provided to the CODM:
Franchise SegmentThree Months Ended March 31,
(in thousands)
20262025
Selling, general and administrative
$8,415 $7,213 
National advertising fund expense32,218 21,944 
Cost of revenue1,552 1,032 
Other segment (income) expenses, net⁽¹⁾(2,439)126 
Total$39,746 $30,315 
(1) Other segment expenses, net for the franchise segment includes other (gains) losses, net, and other income (expense), net.
Corporate-owned Clubs SegmentThree Months Ended March 31,
(in thousands)
20262025
Club compensation and payroll(1)
$25,945 $23,953 
Rent & occupancy(1)
32,710 31,032 
Marketing(1)
18,181 15,290 
Operational and other(1)
11,357 11,406 
Selling, general and administrative4,114 4,342 
Other segment expenses, net⁽²⁾1,830 1,797 
Total$94,137 $87,820 
(1) Club compensation and payroll, rent and occupancy, marketing, and operational and other are included within club operations expense in the condensed consolidated statements of operations. Operational and other primarily consists of repairs and maintenance expense, transaction fees, club supplies, personal property tax expense and other expenses incurred in the operation of each corporate-owned club.
(2) Other segment expenses, net for the corporate-owned clubs segment includes cost of revenue, other (gains) losses, net, and other income (expense), net.
Equipment SegmentThree Months Ended March 31,
(in thousands)
20262025
Cost of revenue
$42,124 $19,879 
Other segment expenses, net⁽¹⁾556 492 
Total$42,680 $20,371 
(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 $21.0 million and $19.1 million for the three months ended March 31, 2026 and 2025, respectively. The CODM does not review capital expenditures related to the franchise or equipment segments.
The following table reconciles total Segment Adjusted EBITDA to consolidated income before taxes:
 Three Months Ended March 31,
(in thousands)
20262025
Segment Adjusted EBITDA$160,673 $138,156 
Depreciation and amortization(40,251)(38,281)
Interest income5,662 5,812 
Interest expense(32,967)(26,197)
Losses from equity-method investments, net of tax874 805 
Corporate and other unallocated expenses, net(1)
(22,012)(21,195)
Income before income taxes$71,979 $59,100 
(1) Corporate and other unallocated expenses, net includes corporate overhead costs, such as payroll and related benefit costs and professional services that are not directly attributable to any individual segment and thus are unallocated and certain other gains and charges that the CODM does not consider in her evaluation of the Company’s reportable segments.
The following table summarizes geographic information about the Company’s revenue, based on customer location:
 Three Months Ended March 31,
(in thousands)
20262025
United States$327,371 $269,910 
Rest of world9,865 6,752 
Total revenue$337,236 $276,662 

The following table summarizes geographic information about the Company’s long-lived assets, net, excluding goodwill and other intangible assets:
(in thousands)
March 31, 2026December 31, 2025
United States$897,282 $913,906 
Rest of world66,507 65,609 
Total long-lived assets, net$963,789 $979,515 
v3.26.1
Corporate-owned and franchisee-owned clubs
 3 Months Ended
Mar. 31, 2026
Franchisors [Abstract]  
Corporate-owned and franchisee-owned clubs Corporate-owned and franchisee-owned clubs
The following table shows changes in corporate-owned and franchisee-owned clubs:
 Three Months Ended March 31,
 20262025
Franchisee-owned clubs:
Clubs operated at beginning of period
2,604 2,445 
New clubs opened or acquired
15 16 
Clubs debranded, sold, closed or consolidated(1)
(2)— 
Clubs operated at end of period
2,617 2,461 
Corporate-owned clubs:
Clubs operated at beginning of period
292 277 
New clubs opened or acquired
— 3 
Clubs operated at end of period
292 280 
Total clubs:
Clubs operated at beginning of period
2,896 2,722 
New clubs opened or acquired
15 19 
Clubs debranded, sold, closed or consolidated(1)
(2)— 
Clubs operated at end of period
2,909 2,741 
(1) The term “debranded” refers to a franchisee-owned club whose right to use the Planet Fitness brand and marks has been terminated in accordance with the franchise agreement. We retain the right to prevent debranded clubs from continuing to operate as fitness centers. The term “consolidated” refers to the combination of a franchisee’s club with another club located in close proximity with our prior approval. This often coincides with an enlargement, re-equipment and/or refurbishment of the remaining club.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2026
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.26.1
Summary of significant accounting policies (Policies)
 3 Months Ended
Mar. 31, 2026
Accounting Policies [Abstract]  
Basis of presentation and consolidation Basis of presentation and consolidation
The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, these interim financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented have been reflected. All significant intercompany balances and transactions have been eliminated in consolidation.
The condensed consolidated financial statements as of and for the three months ended March 31, 2026 and 2025 are unaudited. The condensed consolidated balance sheet as of December 31, 2025 has been derived from the audited financial statements at that date but does not include all of the disclosures required by GAAP. These interim condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on February 25, 2026. The Company’s significant interim accounting policies include the proportional recognition of national advertising fund expenses within interim periods. Operating results for the interim periods are not necessarily indicative of the results that may be expected for the full year ending December 31, 2026.
Use of estimates Use of estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. Significant areas where estimates and judgments are relied upon by management in the preparation of the condensed consolidated financial statements include revenue recognition, valuation of equity-based compensation awards, valuation of assets and liabilities acquired in business combinations, the evaluation of the recoverability of goodwill and long-lived assets, including intangible assets, allowance for expected credit losses, the present value of lease liabilities, income taxes, including deferred tax assets and liabilities, and the liability for the Company’s tax benefit arrangements.
Fair Value Fair Value
ASC 820, Fair Value Measurements and Disclosures, establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows:
Level 1—Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.
Level 2—Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.
Level 3—Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
Reclassification Reclassification
Certain amounts have been reclassified to conform to current year presentation.
Recent accounting pronouncements Recent accounting pronouncements
The FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses, in November 2024. The standard requires disaggregated disclosures in the notes to the consolidated financial statements of certain expense categories that are included in expense line items on the face of the income statement. The new standard is effective for fiscal years beginning after December 15, 2026 on a prospective basis with the option to apply it retrospectively, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of adoption on our financial disclosures.
The FASB issued ASU No. 2025-06, Targeted Improvements to the Accounting for Internal-Use Software, in September 2025. The standard modernizes the capitalization criteria for internal-use software, eliminating references to project stages and instead requiring that projects meet completion probability criteria before costs can be capitalized. The Company adopted the standard using the prospective transition method, under which the amended guidance is applied to new software costs incurred on or after January 1, 2026 for all projects, including in-process projects. The adoption did not have a material impact on the Company’s consolidated financial statements.
Held-to-maturity debt security
The Company has a debt security investment that consists of redeemable preferred shares with a contractual maturity in 2026, however, due to certain subordination clauses in the preferred share agreement, repayment obligations are subordinated to other instruments that mature in 2030. The investment is classified as held-to-maturity and measured at amortized cost within investments in the condensed consolidated balance sheets. The Company reviews its held-to-maturity securities for expected credit losses under ASC Topic 326, Financial Instruments – Credit Losses, on an ongoing basis.
The Company utilizes probability-of-default and loss-given-default methodologies to estimate the allowance for expected credit losses using historical lifetime loss information for assets with similar risk characteristics, adjusted for management’s expectations. Adjustments for management’s expectations were based on the investee’s recent financial results and forward-looking financial forecasts.
v3.26.1
Investments (Tables)
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost, Gross Unrealized Gains (Losses), and Fair Value of Cash Equivalents and Marketable Securities
The following tables summarize the amortized cost, net unrealized gains and losses, fair value, and the level in the fair value hierarchy of the Company’s available-for-sale investments in marketable securities. As of March 31, 2026, the marketable securities had maturity dates that ranged from less than one month to approximately 24 months. Realized gains and losses were insignificant for the three months ended March 31, 2026 and 2025.
(in thousands)
Amortized CostUnrealized Gains (Losses), Net
Fair Value(1)
Level 1Level 2
March 31, 2026
Cash equivalents
Money market funds$1,365 $— $1,365 $1,365 $— 
Total cash equivalents1,365 — 1,365 1,365 — 
Short-term marketable securities
Corporate debt securities95,299 33 95,332 — 95,332 
Commercial paper3,203 (2)3,201 — 3,201 
Total short-term marketable securities98,502 31 98,533 — 98,533 
Long-term marketable securities
Corporate debt securities95,466 (246)95,220 — 95,220 
U.S. government agency securities1,750 (7)1,743 — 1,743 
Total long-term marketable securities97,216 (253)96,963 — 96,963 
Total cash equivalents and marketable securities$197,083 $(222)$196,861 $1,365 $195,496 
(in thousands)
Amortized CostUnrealized Gains (Losses), Net
Fair Value(1)
Level 1Level 2
December 31, 2025
Cash equivalents
Money market funds$407 $— $407 $407 $— 
Total cash equivalents407 — 407 407 — 
Short-term marketable securities
Corporate debt securities99,371 205 99,576 — 99,576 
Commercial paper7,185 — 7,185 — 7,185 
Total short-term marketable securities106,556 205 106,761 — 106,761 
Long-term marketable securities
Corporate debt securities88,078 185 88,263 — 88,263 
Total long-term marketable securities88,078 185 88,263 — 88,263 
Total cash equivalents and marketable securities$195,041 $390 $195,431 $407 $195,024 
(1) Fair values were determined using market prices obtained from third-party pricing sources.
Schedule of Rollforward of Allowance for Expected Credit Losses on Held-to-maturity Investments
A roll forward of the Company’s allowance for expected credit losses on its held-to-maturity investment is as follows:
Three Months Ended March 31,
(in thousands)
20262025
Beginning allowance for expected credit losses$24,424 $18,834 
Loss on adjustment of allowance for expected credit losses502 292 
Write-offs, net of recoveries— — 
Ending allowance for expected credit losses$24,926 $19,126 
v3.26.1
Goodwill and intangible assets (Tables)
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Changes in the carrying amount of goodwill by reportable segment were as follows:
(in thousands)
FranchiseCorporate-owned ClubsEquipment
Amount
Goodwill at December 31, 2025
$16,938 $602,846 $92,666 $712,450 
Acquisitions
— — — — 
Foreign currency translation
— (110)— (110)
Goodwill at March 31, 2026
$16,938 $602,736 $92,666 $712,340 
Schedule of Intangible Assets
A summary of intangible assets is as follows:
March 31, 2026December 31, 2025
(in thousands)
Gross
carrying
amount		Accumulated
amortization
Net carrying
amount
Gross
carrying
amount		Accumulated
amortization
Net carrying
amount
Finite-lived intangible assets:
Customer relationships$199,043 $(186,988)$12,055 $199,043 $(186,199)$12,844 
Reacquired franchise rights274,708 (154,778)119,930 274,708 (147,547)127,161 
Total finite-lived intangible assets473,751 (341,766)131,985 473,751 (333,746)140,005 
Indefinite-lived intangible assets:
Trade and brand names146,404 — 146,404 146,404 — 146,404 
Total intangible assets$620,155 $(341,766)$278,389 $620,155 $(333,746)$286,409 
Schedule of Amortization Expense The anticipated amortization expense related to intangible assets to be recognized in future periods as of March 31, 2026 is as follows:
(in thousands)
Amount
Remainder of 2026$24,059 
202727,956 
202827,300 
202923,675 
203017,920 
Thereafter11,075 
Total$131,985 
v3.26.1
Long-term debt (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt consists of the following: 
(in thousands)
March 31, 2026December 31, 2025
2019-1 Class A-2 notes$515,625 $517,000 
2022-1 Class A-2-II notes456,000 457,188 
2024-1 Class A-2-I notes
418,625 419,688 
2024-1 Class A-2-II notes
369,375 370,312 
2025-1 Class A-2-I notes
400,000 400,000 
2025-1 Class A-2-II notes
350,000 350,000 
Total debt, excluding deferred financing costs2,509,625 2,514,188 
Deferred financing costs, net of accumulated amortization(30,538)(31,934)
Total debt, net2,479,087 2,482,254 
Current portion of long-term debt25,750 23,875 
Long-term debt, net of current portion$2,453,337 $2,458,379 
Schedule of Future Annual Payments of Long-term Debt
Future principal payments of long-term debt as of March 31, 2026 are as follows: 
(in thousands)
Amount
Remainder of 2026$19,312 
202725,750 
202825,750 
2029923,438 
2030397,000 
Thereafter1,118,375 
Total$2,509,625 
Schedule Of Carrying Value And Estimated Fair Value Of Long-Term Debt
The carrying value and estimated fair value of long-term debt were as follows:
March 31, 2026December 31, 2025
(in thousands)
Carrying value
Estimated fair value(1)
Carrying value
Estimated fair value(1)
Long-term debt
$2,509,625 $2,440,305 $2,514,188 $2,486,700 
(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.
v3.26.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Schedule of Balance Sheet Classification of Lease Assets and Liabilities
The right-of-use assets and lease liabilities for operating and finance leases, including their classification in the condensed consolidated balance sheets, were as follows:
(in thousands)

Leases
Balance Sheet ClassificationMarch 31, 2026December 31, 2025
Assets
OperatingRight of use asset, net$398,676 $409,320 
FinanceProperty and equipment, net 912 964 
Total lease assets$399,588 $410,284 
Liabilities
Current:
OperatingOther current liabilities$48,455 $44,397 
FinanceOther current liabilities205 203 
Noncurrent:
OperatingLease liabilities, net of current portion406,984 419,120 
FinanceOther liabilities725 773 
Total lease liabilities$456,369 $464,493 
Weighted-average remaining lease term - operating leases7.6 years7.8 years
Weighted-average discount rate - operating leases5.9%5.9%
Schedule of Components of Lease Cost
The components of lease cost were as follows:
Three Months Ended March 31,
(in thousands)
20262025
Operating lease cost$19,761 $19,205 
Variable lease cost7,298 6,990 
Total lease cost$27,059 $26,195 
Supplemental disclosures of cash flow information related to leases were as follows:
Three Months Ended March 31,
(in thousands)
20262025
Cash paid for lease liabilities, net
$17,158 $14,071 
Operating lease ROU assets obtained in exchange for operating lease liabilities
$2,395 $33,098 
Schedule of Supplemental Disclosures of Cash Flow Information Related to Leases
The components of lease cost were as follows:
Three Months Ended March 31,
(in thousands)
20262025
Operating lease cost$19,761 $19,205 
Variable lease cost7,298 6,990 
Total lease cost$27,059 $26,195 
Supplemental disclosures of cash flow information related to leases were as follows:
Three Months Ended March 31,
(in thousands)
20262025
Cash paid for lease liabilities, net
$17,158 $14,071 
Operating lease ROU assets obtained in exchange for operating lease liabilities
$2,395 $33,098 
Schedule of Maturities of Lease Liabilities
Maturities of lease liabilities as of March 31, 2026 were as follows:
(in thousands)
Amount
Remainder of 2026$72,147 
202783,006 
202883,322 
202979,577 
203070,195 
Thereafter205,794 
Total lease payments$594,041 
Less: imputed interest(137,672)
Present value of lease liabilities$456,369 
Schedule of Maturities of Lease Liabilities
Maturities of lease liabilities as of March 31, 2026 were as follows:
(in thousands)
Amount
Remainder of 2026$72,147 
202783,006 
202883,322 
202979,577 
203070,195 
Thereafter205,794 
Total lease payments$594,041 
Less: imputed interest(137,672)
Present value of lease liabilities$456,369 
v3.26.1
Revenue from contract with customers (Tables)
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Liabilities and Deferred Revenue
The following table reflects the change in contract liabilities between December 31, 2025 and March 31, 2026:
(in thousands)
Amount
Balance at December 31, 2025
$88,250 
Revenue recognized that was included in the contract liability at the beginning of the year(37,901)
Increase, excluding amounts recognized as revenue during the period65,157 
Balance at March 31, 2026
$115,506 
Schedule of Remaining Performance Obligations
The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations from contract liabilities that are unsatisfied, or partially unsatisfied, as of March 31, 2026. The Company has elected to exclude short-term contracts, sales and usage-based royalties and any other variable consideration recognized on an “as invoiced” basis.
(in thousands)
Amount
Remainder of 2026$84,883 
20275,191 
20283,719 
20293,275 
20302,899 
Thereafter15,539 
Total$115,506 
v3.26.1
Related party transactions (Tables)
 3 Months Ended
Mar. 31, 2026
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
Activity with franchisees considered to be related parties is summarized below:
 Three Months Ended March 31,
(in thousands)
20262025
Franchise revenue
$3,296 $2,226 
Equipment revenue
589 110 
Total revenue from related parties$3,885 $2,336 
v3.26.1
Earnings per share (Tables)
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Schedule of Reconciliation of Numerators and Denominators Used to Compute Basic and Diluted Earnings per Share
The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock:
 Three Months Ended March 31,
(in thousands, except share and per share amounts)
20262025
Numerator  
Net income$51,796 $42,079 
Less: net income attributable to non-controlling interests242 212 
Net income attributable to Planet Fitness, Inc.$51,554 $41,867 
Denominator
Weighted-average shares of Class A common stock outstanding - basic79,575,118 84,170,460 
Effect of dilutive securities:
Stock options31,818 40,975 
Restricted stock units106,535 126,762 
Performance stock units72,771 63,702 
Weighted-average shares of Class A common stock outstanding - diluted79,786,242 84,401,899 
Earnings per share of Class A common stock - basic$0.65 $0.50 
Earnings per share of Class A common stock - diluted$0.65 $0.50 
Schedule Of Common Stock Equivalents Excluded From The Computation Of Diluted Net Income per Share
The number of weighted-average common stock equivalents excluded from the computation of diluted net income per share because the effect would have been anti-dilutive were as follows:
Three Months Ended March 31,
20262025
Class B common stock
316,128 341,841 
Restricted stock units1,813 1,993 
Performance stock units— 1,909 
Total
317,941 345,743 
v3.26.1
Income taxes (Tables)
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Schedule of Future Payments Under Tax Benefit Arrangements
Projected future payments under the tax benefit arrangements were as follows:
(in thousands)
Amount
Remainder of 2026$55,508 
202741,498 
202842,612 
202944,442 
203047,103 
Thereafter184,618 
Total$415,781 
v3.26.1
Segments (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of Financial Information for the Company's Reportable Segments
The following tables summarize total revenue and total Segment Adjusted EBITDA for the Company’s reportable segments.
 Three Months Ended March 31,
(in thousands)
20262025
Franchise$134,467 $115,180 
Corporate-owned clubs140,622 133,669 
Equipment62,147 27,813 
Total revenue$337,236 $276,662 
 Three Months Ended March 31,
(in thousands)
20262025
Franchise$94,721 $84,865 
Corporate-owned clubs46,485 45,849 
Equipment19,467 7,442 
Segment Adjusted EBITDA
$160,673 $138,156 
Schedule of Significant Expense Categories
The following tables summarize the significant expense categories and amounts for each of the Company’s reportable segments and align with the segment level information that is regularly provided to the CODM:
Franchise SegmentThree Months Ended March 31,
(in thousands)
20262025
Selling, general and administrative
$8,415 $7,213 
National advertising fund expense32,218 21,944 
Cost of revenue1,552 1,032 
Other segment (income) expenses, net⁽¹⁾(2,439)126 
Total$39,746 $30,315 
(1) Other segment expenses, net for the franchise segment includes other (gains) losses, net, and other income (expense), net.
Corporate-owned Clubs SegmentThree Months Ended March 31,
(in thousands)
20262025
Club compensation and payroll(1)
$25,945 $23,953 
Rent & occupancy(1)
32,710 31,032 
Marketing(1)
18,181 15,290 
Operational and other(1)
11,357 11,406 
Selling, general and administrative4,114 4,342 
Other segment expenses, net⁽²⁾1,830 1,797 
Total$94,137 $87,820 
(1) Club compensation and payroll, rent and occupancy, marketing, and operational and other are included within club operations expense in the condensed consolidated statements of operations. Operational and other primarily consists of repairs and maintenance expense, transaction fees, club supplies, personal property tax expense and other expenses incurred in the operation of each corporate-owned club.
(2) Other segment expenses, net for the corporate-owned clubs segment includes cost of revenue, other (gains) losses, net, and other income (expense), net.
Equipment SegmentThree Months Ended March 31,
(in thousands)
20262025
Cost of revenue
$42,124 $19,879 
Other segment expenses, net⁽¹⁾556 492 
Total$42,680 $20,371 
(1) Other segment expenses, net for the equipment segment includes selling, general, and administrative expenses, other (gains) losses, net, and other income (expense), net.
Schedule of Reconciliation of Total Segment Adjusted EBITDA to Income Before Taxes
The following table reconciles total Segment Adjusted EBITDA to consolidated income before taxes:
 Three Months Ended March 31,
(in thousands)
20262025
Segment Adjusted EBITDA$160,673 $138,156 
Depreciation and amortization(40,251)(38,281)
Interest income5,662 5,812 
Interest expense(32,967)(26,197)
Losses from equity-method investments, net of tax874 805 
Corporate and other unallocated expenses, net(1)
(22,012)(21,195)
Income before income taxes$71,979 $59,100 
(1) Corporate and other unallocated expenses, net includes corporate overhead costs, such as payroll and related benefit costs and professional services that are not directly attributable to any individual segment and thus are unallocated and certain other gains and charges that the CODM does not consider in her evaluation of the Company’s reportable segments.
Schedule of Geographical Revenue & Long- Lived Assets
The following table summarizes geographic information about the Company’s revenue, based on customer location:
 Three Months Ended March 31,
(in thousands)
20262025
United States$327,371 $269,910 
Rest of world9,865 6,752 
Total revenue$337,236 $276,662 

The following table summarizes geographic information about the Company’s long-lived assets, net, excluding goodwill and other intangible assets:
(in thousands)
March 31, 2026December 31, 2025
United States$897,282 $913,906 
Rest of world66,507 65,609 
Total long-lived assets, net$963,789 $979,515 
v3.26.1
Corporate-owned and franchisee-owned clubs (Tables)
 3 Months Ended
Mar. 31, 2026
Franchisors [Abstract]  
Schedule of Changes in Corporate-Owned and Franchisee-Owned Clubs
The following table shows changes in corporate-owned and franchisee-owned clubs:
 Three Months Ended March 31,
 20262025
Franchisee-owned clubs:
Clubs operated at beginning of period
2,604 2,445 
New clubs opened or acquired
15 16 
Clubs debranded, sold, closed or consolidated(1)
(2)— 
Clubs operated at end of period
2,617 2,461 
Corporate-owned clubs:
Clubs operated at beginning of period
292 277 
New clubs opened or acquired
— 3 
Clubs operated at end of period
292 280 
Total clubs:
Clubs operated at beginning of period
2,896 2,722 
New clubs opened or acquired
15 19 
Clubs debranded, sold, closed or consolidated(1)
(2)— 
Clubs operated at end of period
2,909 2,741 
(1) The term “debranded” refers to a franchisee-owned club whose right to use the Planet Fitness brand and marks has been terminated in accordance with the franchise agreement. We retain the right to prevent debranded clubs from continuing to operate as fitness centers. The term “consolidated” refers to the combination of a franchisee’s club with another club located in close proximity with our prior approval. This often coincides with an enlargement, re-equipment and/or refurbishment of the remaining club.
v3.26.1
Business organization (Details)
member in Millions
 3 Months Ended
Mar. 31, 2026
store
segment
member
state
Dec. 31, 2025
store
Mar. 31, 2025
store
Dec. 31, 2024
store
Organization, Consolidation and Presentation of Financial Statements [Abstract]        
Number of members | member 21.5      
Number of owned and franchised locations | store 2,909 2,896 2,741 2,722
Number of states in which entity operates | state 50      
Number of reportable segments | segment 3      
v3.26.1
Investments - Narrative (Details) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Schedule of Equity Method Investments [Line Items]      
Allowance for credit losses $ 0    
Credit loss on held-to-maturity investment 502,000 $ 292,000  
Amortized cost of held-to-maturity debt security investments 35,500,000   $ 34,900,000
Dividends accrued on held-to-maturity investment 600,000 600,000  
Losses from equity-method investments, net of tax $ 874,000 805,000  
Bravo Fit Holdings Pty Ltd      
Schedule of Equity Method Investments [Line Items]      
Ownership percentage 22.00%   22.00%
Total investment $ 12,400,000   $ 12,500,000
Underlying equity in net assets $ 3,700,000   $ 4,500,000
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life 9 years    
Losses from equity-method investments, net of tax $ 100,000 300,000  
Basis difference amortization $ 100,000 100,000  
Planet Fitmex, LLC      
Schedule of Equity Method Investments [Line Items]      
Ownership percentage 33.20%   33.20%
Total investment $ 46,000,000.0   $ 46,800,000
Underlying equity in net assets $ 14,400,000   $ 16,500,000
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life 9 years    
Losses from equity-method investments, net of tax $ 800,000 500,000  
Basis difference amortization $ 200,000 $ 200,000  
Minimum      
Schedule of Equity Method Investments [Line Items]      
Maturity dates 1 month    
Maximum      
Schedule of Equity Method Investments [Line Items]      
Maturity dates 24 months    
v3.26.1
Investments - Schedule of Amortized Cost, Gross Unrealized Gains (Losses), and Fair Value of Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Schedule of Equity Method Investments [Line Items]    
Amortized Cost $ 197,083 $ 195,041
Unrealized Gains (Losses), Net (222) 390
Fair Value 196,861 195,431
Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 1,365 407
Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 195,496 195,024
Cash equivalents    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 1,365 407
Unrealized Gains (Losses), Net 0 0
Fair Value 1,365 407
Cash equivalents | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 1,365 407
Cash equivalents | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Cash equivalents | Money market funds    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 1,365 407
Unrealized Gains (Losses), Net 0 0
Fair Value 1,365 407
Cash equivalents | Money market funds | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 1,365 407
Cash equivalents | Money market funds | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0 0
Short-term marketable securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 98,502 106,556
Unrealized Gains (Losses), Net 31 205
Fair Value 98,533 106,761
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 98,533 106,761
Short-term marketable securities | Corporate debt securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 95,299 99,371
Unrealized Gains (Losses), Net 33 205
Fair Value 95,332 99,576
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 95,332 99,576
Short-term marketable securities | Commercial paper    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 3,203 7,185
Unrealized Gains (Losses), Net (2) 0
Fair Value 3,201 7,185
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 3,201 7,185
Long-term marketable securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 97,216 88,078
Unrealized Gains (Losses), Net (253) 185
Fair Value 96,963 88,263
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 96,963 88,263
Long-term marketable securities | Corporate debt securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 95,466 88,078
Unrealized Gains (Losses), Net (246) 185
Fair Value 95,220 88,263
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 95,220 $ 88,263
Long-term marketable securities | U.S. government agency securities    
Schedule of Equity Method Investments [Line Items]    
Amortized Cost 1,750  
Unrealized Gains (Losses), Net (7)  
Fair Value 1,743  
Long-term marketable securities | U.S. government agency securities | Level 1    
Schedule of Equity Method Investments [Line Items]    
Fair Value 0  
Long-term marketable securities | U.S. government agency securities | Level 2    
Schedule of Equity Method Investments [Line Items]    
Fair Value $ 1,743  
v3.26.1
Investments - Schedule of Rollforward of Allowance for Expected Credit Losses on Held-to-maturity Investments (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward]    
Beginning allowance for expected credit losses $ 24,424 $ 18,834
Loss on adjustment of allowance for expected credit losses 502 292
Write-offs, net of recoveries 0 0
Ending allowance for expected credit losses $ 24,926 $ 19,126
v3.26.1
Goodwill and intangible assets - Schedule of Goodwill (Details) - USD ($)
$ in Thousands
 1 Months Ended 3 Months Ended
Dec. 31, 2025
Mar. 31, 2026
Goodwill [Roll Forward]    
Beginning balance   $ 712,450
Acquisitions $ 1,900 0
Foreign currency translation   (110)
Ending balance 712,450 712,340
Franchise    
Goodwill [Roll Forward]    
Beginning balance   16,938
Acquisitions   0
Foreign currency translation   0
Ending balance 16,938 16,938
Corporate-owned Clubs    
Goodwill [Roll Forward]    
Beginning balance   602,846
Acquisitions   0
Foreign currency translation   (110)
Ending balance 602,846 602,736
Equipment    
Goodwill [Roll Forward]    
Beginning balance   92,666
Acquisitions   0
Foreign currency translation   0
Ending balance $ 92,666 $ 92,666
v3.26.1
Goodwill and intangible assets - Additional Information (Details)
 1 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2025
USD ($)
store
Mar. 31, 2026
USD ($)
Mar. 31, 2025
USD ($)
Dec. 31, 2025
USD ($)
store
Goodwill and Intangible Assets Disclosure [Abstract]        
Clubs acquired | store 2     2
Acquisitions $ 1,900,000 $ 0    
Impairment charges   0   $ 0
Amortization of intangible assets   $ 8,000,000.0 $ 9,200,000  
v3.26.1
Goodwill and intangible assets - Schedule of Intangible Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Finite-lived intangible assets:    
Gross carrying amount $ 473,751 $ 473,751
Accumulated amortization (341,766) (333,746)
Total 131,985 140,005
Indefinite-lived intangible assets:    
Total intangible assets 620,155 620,155
Net carrying amount 278,389 286,409
Trade and brand names    
Indefinite-lived intangible assets:    
Indefinite-lived intangible assets 146,404 146,404
Customer relationships    
Finite-lived intangible assets:    
Gross carrying amount 199,043 199,043
Accumulated amortization (186,988) (186,199)
Total 12,055 12,844
Reacquired franchise rights    
Finite-lived intangible assets:    
Gross carrying amount 274,708 274,708
Accumulated amortization (154,778) (147,547)
Total $ 119,930 $ 127,161
v3.26.1
Goodwill and intangible assets - Schedule of Amortization Expense (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]    
Remainder of 2026 $ 24,059  
2027 27,956  
2028 27,300  
2029 23,675  
2030 17,920  
Thereafter 11,075  
Total $ 131,985 $ 140,005
v3.26.1
Long-term debt - Schedule of Long-term Debt (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs $ 2,509,625 $ 2,514,188
Deferred financing costs, net of accumulated amortization (30,538) (31,934)
Total debt, net 2,479,087 2,482,254
Current portion of long-term debt 25,750 23,875
Long-term debt, net of current portion 2,453,337 2,458,379
Senior Notes | 2019-1 Class A-2 notes    
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs 515,625 517,000
Senior Notes | 2022-1 Class A-2-II notes    
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs 456,000 457,188
Senior Notes | 2024-1 Class A-2-I notes    
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs 418,625 419,688
Senior Notes | 2024-1 Class A-2-II notes    
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs 369,375 370,312
Senior Notes | 2025-1 Class A-2-I notes    
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs 400,000 400,000
Senior Notes | 2025-1 Class A-2-II notes    
Debt Instrument [Line Items]    
Total debt, excluding deferred financing costs $ 350,000 $ 350,000
v3.26.1
Long-term debt - Schedule of Future Annual Payments of Long-term Debt (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Debt Disclosure [Abstract]    
Remainder of 2026 $ 19,312  
2027 25,750  
2028 25,750  
2029 923,438  
2030 397,000  
Thereafter 1,118,375  
Total $ 2,509,625 $ 2,514,188
v3.26.1
Long-term debt - Schedule of Carrying Value and Estimated Fair Value of Long-term Debt (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Carrying value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 2,509,625 $ 2,514,188
Estimated fair value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 2,440,305 $ 2,486,700
v3.26.1
Leases - Schedule of Balance Sheet Classification of Lease Assets and Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets    
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Property and equipment, net of accumulated depreciation of $482,134 and $453,852, as of March 31, 2026 and December 31, 2025, respectively Property and equipment, net of accumulated depreciation of $482,134 and $453,852, as of March 31, 2026 and December 31, 2025, respectively
Operating $ 398,676 $ 409,320
Finance 912 964
Total lease assets $ 399,588 $ 410,284
Liabilities    
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Other current liabilities Other current liabilities
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other current liabilities Other current liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Other liabilities Other liabilities
Current operating lease liabilities $ 48,455 $ 44,397
Current finance lease liabilities 205 203
Noncurrent operating lease liabilities 406,984 419,120
Noncurrent finance lease liabilities 725 773
Total lease liabilities $ 456,369 $ 464,493
Weighted-average remaining lease term - operating leases 7 years 7 months 6 days 7 years 9 months 18 days
Weighted-average discount rate - operating leases 5.90% 5.90%
v3.26.1
Leases - Schedule of Components of Lease Cost (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Leases [Abstract]    
Operating lease cost $ 19,761 $ 19,205
Variable lease cost 7,298 6,990
Total lease cost $ 27,059 $ 26,195
v3.26.1
Leases - Schedule of Supplemental Disclosures of Cash Flow Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Leases [Abstract]    
Cash paid for lease liabilities, net $ 17,158 $ 14,071
Operating lease ROU assets obtained in exchange for operating lease liabilities $ 2,395 $ 33,098
v3.26.1
Leases - Schedule of Maturities of Lease Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Leases [Abstract]    
Remainder of 2026 $ 72,147  
2027 83,006  
2028 83,322  
2029 79,577  
2030 70,195  
Thereafter 205,794  
Total lease payments 594,041  
Less: imputed interest (137,672)  
Present value of lease liabilities $ 456,369 $ 464,493
v3.26.1
Leases - Additional Information (Details)
$ in Millions
Mar. 31, 2026
USD ($)
Leases [Abstract]  
Lease payments for leases signed but not yet commenced $ 22.0
v3.26.1
Revenue from contract with customers - Schedule of Contract Liabilities (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
Amount  
Beginning Balance $ 88,250
Revenue recognized that was included in the contract liability at the beginning of the year (37,901)
Increase, excluding amounts recognized as revenue during the period 65,157
Ending Balance $ 115,506
v3.26.1
Revenue from contract with customers - Schedule of Remaining Performance Obligation (Details)
$ in Thousands
Mar. 31, 2026
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 115,506
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 84,883
Remaining performance obligation, expected timing of satisfaction 9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 5,191
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 $ 3,719
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 3,275
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 2,899
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2031-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 15,539
Remaining performance obligation, expected timing of satisfaction
v3.26.1
Revenue from contract with customers - Additional Information (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2026
USD ($)
Revenue from Contract with Customer [Abstract]  
Equipment deposits $ 7.4
Deferred revenue expected recognition period (in months) 12 months
v3.26.1
Related party transactions - Schedule of Related Party Transactions (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Related Party Transaction [Line Items]    
Total revenue from related parties $ 337,236 $ 276,662
Related party    
Related Party Transaction [Line Items]    
Total revenue from related parties 3,885 2,336
Related party | Franchise revenue    
Related Party Transaction [Line Items]    
Total revenue from related parties 3,296 2,226
Related party | Equipment revenue    
Related Party Transaction [Line Items]    
Total revenue from related parties $ 589 $ 110
v3.26.1
Related party transactions - Additional Information (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
Mar. 31, 2025
USD ($)
Jan. 31, 2026
USD ($)
Dec. 31, 2025
USD ($)
Nov. 30, 2024
USD ($)
Related Party Transaction [Line Items]          
Accounts receivable $ 41,076     $ 70,431  
Deferred revenue 115,506     88,250  
Accounts payable 33,094     39,683  
Total revenue 337,236 $ 276,662      
Related party          
Related Party Transaction [Line Items]          
Accounts receivable 4,500     5,400  
Total revenue 3,885 2,336      
Related party | Administrative Service          
Related Party Transaction [Line Items]          
Total revenue 1,800 1,700      
Related party | Deferred ADA and franchise agreement revenue          
Related Party Transaction [Line Items]          
Deferred revenue 900     800  
Related party | Tax benefit arrangements          
Related Party Transaction [Line Items]          
Accounts payable 1,000     83,900  
Related party | Amenity tracking compliance software | CEO          
Related Party Transaction [Line Items]          
Purchases from related party $ 100 100      
Related party | Amenity tracking compliance software | Amenity Tracking Compliance Software Company | CEO          
Related Party Transaction [Line Items]          
Ownership percentage 10.50%        
Affiliated entity | November 2024 Promissory Note          
Related Party Transaction [Line Items]          
Promissory note (up to)         $ 10,000
Interest rate         0.04
Promissory note issued and outstanding $ 6,600     $ 5,100  
Interest receivable accrued 100 $ 0      
Affiliated entity | January 2026 Promissory Note          
Related Party Transaction [Line Items]          
Interest rate     0.055    
Promissory note issued and outstanding 19,300   $ 20,000    
Accrued interest receivable $ 200        
v3.26.1
Stockholders' equity (Details) - USD ($)
 3 Months Ended
Jan. 12, 2026
Dec. 16, 2025
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Dec. 15, 2025
Dec. 12, 2025
Dec. 31, 2024
Jun. 13, 2024
Class of Stock [Line Items]                  
Repurchase and retirement of common stock     $ 51,352,000 $ 50,454,000          
Preferred stock authorized (in shares)     50,000,000   50,000,000        
Preferred stock issued (in shares)     0   0        
Preferred stock outstanding (in shares)     0   0        
Continuing LLC Owners | Secondary Offering and Exchange                  
Class of Stock [Line Items]                  
Number of units held by owners (in shares)     316,128            
Pla-Fit Holdings, LLC | Continuing LLC Owners | Secondary Offering and Exchange                  
Class of Stock [Line Items]                  
Percentage of economic interest     0.40%            
Pla-Fit Holdings, LLC | Investor | Secondary Offering and Exchange                  
Class of Stock [Line Items]                  
Percentage of economic interest     99.60%            
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)     79,124,000   80,446,000        
Class A common stock | Common stock                  
Class of Stock [Line Items]                  
Common stock, shares outstanding (in shares)     79,124,000 83,836,000 80,446,000     84,323,000  
Repurchase and retirement of common stock (in shares)     1,368,000 544,000          
Class A common stock | Continuing LLC Owners | Investor                  
Class of Stock [Line Items]                  
Common stock, shares outstanding (in shares)     79,123,551            
Class A common stock | Common Stockholders | Investor | Common stock                  
Class of Stock [Line Items]                  
Common stock, shares outstanding (in shares)     79,123,551            
Class A common stock | Common Stockholders | Planet Fitness, Inc. | Investor | Common stock                  
Class of Stock [Line Items]                  
Economic interest     99.60%            
Class B common stock                  
Class of Stock [Line Items]                  
Shares exchanged for Class A common stock (in shares)     1            
Common stock, shares outstanding (in shares)     316,000   316,000        
Class B common stock | Common stock                  
Class of Stock [Line Items]                  
Common stock, shares outstanding (in shares)     316,000 342,000 316,000     342,000  
Class B common stock | Continuing LLC Owners | Secondary Offering and Exchange                  
Class of Stock [Line Items]                  
Number of units held by owners (in shares)     316,128            
Class B common stock | Continuing LLC Owners | Pla-Fit Holdings, LLC | Continuing LLC Owners | Secondary Offering and Exchange                  
Class of Stock [Line Items]                  
Economic interest     0.40%            
2024 Share Repurchase Program                  
Class of Stock [Line Items]                  
Stock repurchase program, authorized amount                 $ 500,000,000.0
Share repurchase excise tax       $ 400,000          
2024 Share Repurchase Program | Class A common stock                  
Class of Stock [Line Items]                  
Repurchase and retirement of common stock (in shares)       544,226          
Repurchase and retirement of common stock       $ 50,000,000.0          
2025 Accelerated Share Repurchase Agreement                  
Class of Stock [Line Items]                  
Stock repurchase program, authorized amount             $ 350,000,000.0    
Cash payment to the Bank   $ 350,000,000.0              
2025 Accelerated Share Repurchase Agreement | Class A common stock                  
Class of Stock [Line Items]                  
Repurchase and retirement of common stock (in shares) 754,644 2,548,234              
Repurchase and retirement of common stock   $ 280,000,000.0              
Percent of total ASR agreement value   80.00%              
Weighted average cost per share (in usd per share) $ 108.76                
Increase to accumulated deficit   $ 70,000,000.0              
2025 Share Repurchase Program                  
Class of Stock [Line Items]                  
Stock repurchase program, authorized amount           $ 500,000,000.0      
Share repurchase excise tax     $ 1,200,000            
Remaining authorized amount     $ 450,000,000.0            
2025 Share Repurchase Program | Class A common stock                  
Class of Stock [Line Items]                  
Repurchase and retirement of common stock (in shares)     613,725            
Repurchase and retirement of common stock     $ 50,000,000.0            
v3.26.1
Earnings per share - Additional Information (Details)
 3 Months Ended
Mar. 31, 2026
shares
Holdings Units  
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]  
Shares exchanged for Class A common stock (in shares) 1
Class B common stock  
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]  
Shares exchanged for Class A common stock (in shares) 1
v3.26.1
Earnings per share - Schedule of Reconciliation of Numerators and Denominators Used to Compute Basic and Diluted Earnings per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Numerator    
Net income $ 51,796 $ 42,079
Less: net income attributable to non-controlling interests 242 212
Net income attributable to Planet Fitness, Inc. $ 51,554 $ 41,867
Stock options    
Effect of dilutive securities:    
Weighted-average shares outstanding adjustment (shares) 31,818 40,975
Restricted stock units    
Effect of dilutive securities:    
Weighted-average shares outstanding adjustment (shares) 106,535 126,762
Performance stock units    
Effect of dilutive securities:    
Weighted-average shares outstanding adjustment (shares) 72,771 63,702
Class A common stock    
Denominator    
Weighted-average shares of Class A common stock outstanding - basic (in shares) 79,575,118 84,170,460
Effect of dilutive securities:    
Weighted-average shares of Class A common stock outstanding - diluted (in shares) 79,786,242 84,401,899
Earnings per share of Class A common stock - basic (in usd per share) $ 0.65 $ 0.50
Earnings per share of Class A common stock - diluted (in usd per share) $ 0.65 $ 0.50
v3.26.1
Earnings per share - Schedule of Common Stock Equivalents Excluded From The Computation Of Diluted Net Income per Share (Details) - shares
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total 317,941 345,743
Class B common stock    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total 316,128 341,841
Restricted stock units    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total 1,813 1,993
Performance stock units    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total 0 1,909
v3.26.1
Income taxes - Additional information (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
agreement
Mar. 31, 2025
Dec. 31, 2025
USD ($)
Tax Credit Carryforward [Line Items]      
Effective income tax rate 26.80% 27.40%  
Net deferred tax assets $ 393,700   $ 405,500
Total liability related to uncertain tax positions $ 500   500
Number of tax receivable agreements | agreement 2    
Percentage of remaining tax savings 15.00%    
Tax benefit obligation $ 415,781   $ 415,800
TRA Holders      
Tax Credit Carryforward [Line Items]      
Applicable tax savings (in percentage) 85.00%    
v3.26.1
Income taxes - Schedule of Future Payments Under Tax Benefit Arrangements (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Income Tax Disclosure [Abstract]    
Remainder of 2026 $ 55,508  
2027 41,498  
2028 42,612  
2029 44,442  
2030 47,103  
Thereafter 184,618  
Total $ 415,781 $ 415,800
v3.26.1
Segments - Additional Information (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2026
USD ($)
segment
Mar. 31, 2025
USD ($)
Segment Reporting Information [Line Items]    
Number of reportable segments | segment 3  
Corporate-owned clubs    
Segment Reporting Information [Line Items]    
Total | $ $ 21.0 $ 19.1
v3.26.1
Segments - Schedule of Financial Information for the Company's Reportable Segments (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Segment Reporting Information [Line Items]    
Total revenue $ 337,236 $ 276,662
Segment Adjusted EBITDA 160,673 138,156
Franchise    
Segment Reporting Information [Line Items]    
Total revenue 134,467 115,180
Segment Adjusted EBITDA 94,721 84,865
Corporate-owned clubs    
Segment Reporting Information [Line Items]    
Total revenue 140,622 133,669
Segment Adjusted EBITDA 46,485 45,849
Equipment    
Segment Reporting Information [Line Items]    
Total revenue 62,147 27,813
Segment Adjusted EBITDA $ 19,467 $ 7,442
v3.26.1
Segments- Schedule of Significant Expense Categories (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Segment Reporting, Other Significant Reconciling Item [Line Items]    
Selling, general and administrative $ 34,150 $ 34,307
National advertising fund expense 32,218 21,944
Cost of revenue 45,341 22,485
Total operating costs and expenses 238,567 197,460
Franchise    
Segment Reporting, Other Significant Reconciling Item [Line Items]    
Selling, general and administrative 8,415 7,213
National advertising fund expense 32,218 21,944
Cost of revenue 1,552 1,032
Other segment expenses, net (2,439) 126
Total operating costs and expenses 39,746 30,315
Corporate-owned clubs    
Segment Reporting, Other Significant Reconciling Item [Line Items]    
Selling, general and administrative 4,114 4,342
Club compensation and payroll 25,945 23,953
Rent & occupancy 32,710 31,032
Marketing 18,181 15,290
Operational and other 11,357 11,406
Other segment expenses, net 1,830 1,797
Total operating costs and expenses 94,137 87,820
Equipment    
Segment Reporting, Other Significant Reconciling Item [Line Items]    
Cost of revenue 42,124 19,879
Other segment expenses, net 556 492
Total operating costs and expenses $ 42,680 $ 20,371
v3.26.1
Segments - Schedule of Reconciliation of Total Segment Adjusted EBITDA to Income Before Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Segment Adjusted EBITDA $ 160,673 $ 138,156
Depreciation and amortization (40,251) (38,281)
Interest income 5,662 5,812
Interest expense (32,967) (26,197)
Losses from equity-method investments, net of tax 874 805
Income before income taxes 71,979 59,100
Operating Segments    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Segment Adjusted EBITDA 160,673 138,156
Corporate and Other    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Depreciation and amortization (40,251) (38,281)
Interest income 5,662 5,812
Interest expense (32,967) (26,197)
Losses from equity-method investments, net of tax 874 805
Corporate and other unallocated expenses, net $ (22,012) $ (21,195)
v3.26.1
Segments - Schedule of Geographical Revenue & Long- Lived Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue $ 337,236 $ 276,662  
Total long-lived assets, net 963,789   $ 979,515
United States      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue 327,371 269,910  
Total long-lived assets, net 897,282   913,906
Rest of world      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue 9,865 $ 6,752  
Total long-lived assets, net $ 66,507   $ 65,609
v3.26.1
Corporate-owned and franchisee-owned clubs - Schedule of Changes in Corporate-owned and Franchisee-owned Clubs (Details) - store
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Number Of Stores [Roll Forward]    
Clubs operated at beginning of period 2,896 2,722
New clubs opened or acquired 15 19
Clubs debranded, sold, closed or consolidated (2) 0
Clubs operated at end of period 2,909 2,741
Franchisee-owned clubs:    
Number Of Stores [Roll Forward]    
Clubs operated at beginning of period 2,604 2,445
New clubs opened or acquired 15 16
Clubs debranded, sold, closed or consolidated (2) 0
Clubs operated at end of period 2,617 2,461
Corporate-owned clubs:    
Number Of Stores [Roll Forward]    
Clubs operated at beginning of period 292 277
New clubs opened or acquired 0 3
Clubs operated at end of period 292 280