Xponential Fitness, Inc.

Greetings and welcome to the exponential fitness second quarter 2025 earnings call. At this time, all participants are enabled in only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Patricia Neer, investor relations. Thank you, Patricia. You may begin.

Thank you, operator. Good afternoon and thank you all for joining our conference call to discuss exponential fitness's second quarter 2025 financial results. I'm joined by Mike Neuso, chief executive officer, Mark King, former chief executive officer, John Kowaja, president North America, and John Malone, chief financial officer. A recording of this call will be posted on the investor section of our website at .exponential.com. We remind you that during this conference call, we will make certain forward-looking statements, including discussions of our business outlook and financial projections. These forward-looking statements are based on management's current expectations and involve risks and uncertainties that could cause our actual results to differ materially from such expectations. For a more detailed description of these risks and uncertainties, please refer to our annual report on form 10K for the year ended December 31st, 2024, filed with the SEC and subsequent filings with the SEC. We assume no obligations to update the information provided on today's call. In addition, we will be discussing certain non-GAAP financial measures in this conference call. We use non-GAAP measures because we believe they provide useful information about our operating performance that should be considered by investors in conjunction with GAAP measures that we provide. A reconciliation of these non-GAAP measures to comparable GAAP measures is included in the earnings release that was issued earlier today prior to this call. Please also note that all numbers reported in today's prepared remarks refer to global figures unless otherwise noted. As a reminder, in order to ensure period over period comparability and consistent with our reporting methods since IPO, we present all KPIs on a pro forma basis, meaning for the full KPI history presented, we only include brands that are under ownership as of the current reporting period. For the period ended June 30th, 2025, this includes BFT, Club Pilates, Cycle Bar, Landora, Pure Bar, Rumble, Stretch Lab, and Yoga Six. I will now turn the call over to Mark King, former CEO of Exponential Fitness.

Thanks, Patricia, and good afternoon to everyone. Before we discuss the quarter, I want to take a moment to share my enthusiasm for today's announcement that our Board of Directors has unanimously appointed Mike Nuzzo as our Chief Executive Officer. I've had a chance to spend some time with Mike, and I couldn't be more confident in his ability to lead Exponential through its next chapter. Mike brings over 25 years experience leading consumer, retail, and services businesses with a proven track record of driving scalable growth and expanding into both domestic and international markets. His disciplined, data-driven approach and deep commitment to franchisee success were also particularly compelling to the Board. Previous leadership roles at iMART Express, Petco, and GNC clearly demonstrate his ability to build strong brands and execute at scale. Mike has joined the call today to share a few thoughts. Mike?