F45 Training Hldgs Inc (FXLV) Financials
Newest figures come from the 10-Q for Q2 FY2023, filed Nov 7, 2023. Each column of the statement tables below links to the filing it was taken from.
F45 Training Hldgs Inc (FXLV) reported $82.0M in revenue over the twelve months to Jun 30, 2023, down 40.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
F45’s dominant mechanic is wide gross margins overwhelmed by operating costs, producing losses and dependence on external financing.
Despite FY2022 revenue retreat, gross margin held near 68.8% while operating margin fell to-140.7% ; the widening gap points to operating-cost absorption, not gross-margin erosion, as the central constraint. Selling, general and administrative expense reached$191.4M , more than twice gross profit of$71.8M , explaining why gross economics did not translate into operating earnings.
FY2022 net loss was
Liabilities exceeded assets in FY2022, leaving equity at
Financial Health Signals
F45 Training Hldgs Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
F45 Training Hldgs Inc scores -8.01, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($2.0M) relative to total liabilities ($185.6M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
F45 Training Hldgs Inc passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
F45 Training Hldgs Inc reported a net loss of $178.8M while operations used $98.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
F45 Training Hldgs Inc reported an operating loss of $146.9M against $3.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
F45 Training Hldgs Inc generated $17.0M in revenue in Q2 2023. This represents a decrease of 38.5% from the same quarter a year earlier. Against the prior quarter it is down 3.1%.
F45 Training Hldgs Inc's EBITDA was -$14.6M in Q2 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 56.8% from the same quarter a year earlier. Against the prior quarter it is up 22.7%.
F45 Training Hldgs Inc reported -$23.7M in net income in Q2 2023. This represents an increase of 58.0% from the same quarter a year earlier. Against the prior quarter it is down 4.7%.
F45 Training Hldgs Inc earned -$0.24 per diluted share (EPS) in Q2 2023. This represents an increase of 59.3% from the same quarter a year earlier. Against the prior quarter it is down 4.3%.
Cash & Balance Sheet
F45 Training Hldgs Inc recorded an outflow of $17.9M in free cash flow in Q2 2023, representing a cash shortfall after capex. This represents an increase of 41.5% from the same quarter a year earlier. Against the prior quarter it is down 54.7%.
F45 Training Hldgs Inc held $34.4M in cash against $128.1M in long-term debt as of Q2 2023.
Not reported for Q2 2023.
Margins & Returns
F45 Training Hldgs Inc's gross margin was 71.7% in Q2 2023, indicating the percentage of revenue retained after direct costs. This is up 10.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.0 percentage points.
F45 Training Hldgs Inc's operating margin was -91.1% in Q2 2023, reflecting core business profitability. No change is given against Q2 2022: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2023: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q2 2023.
Capital Allocation
F45 Training Hldgs Inc invested $80K in capex in Q2 2023, funding long-term assets and infrastructure. This represents a decrease of 96.9% from the same quarter a year earlier. Against the prior quarter it is down 86.7%.
Not reported for Q2 2023.
Not reported for Q2 2023.
FXLV Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2310-Q | Q1'2310-Q | Q4'2210-Q | Q3'2210-Q | Q2'2210-Q | Q1'2210-Q | Q4'2110-K | Q3'2110-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $17.0M-38.5% | $17.6M-40.2% | $18.0M-66.0% | $29.3M+7.9% | $27.7M+3.2% | $29.4M+61.6% | $53.0M | $27.2M+23.7% |
| Cost of Revenue | $4.8M-55.5% | $5.9M-30.5% | $3.9M-83.2% | $9.4M+30.1% | $10.8M+108.3% | $8.4M+91.6% | $23.3M | $7.2M-0.1% |
| Gross Profit | $12.2M-27.6% | $11.7M-44.1% | $14.1M-52.6% | $19.9M-0.2% | $16.9M-22.0% | $21.0M+52.0% | $29.8M | $19.9M+35.5% |
| SG&A Expenses | $27.7M-46.6% | $31.5M-1.9% | $53.4M+52.5% | $53.9M-51.2% | $51.9M+179.7% | $32.1M+90.8% | $35.0M | $110.5M+994.0% |
| Operating Income | -$15.5M+55.7% | -$19.8M-77.4% | -$66.7M-1165.9% | -$34.0M+62.4% | -$35.1M-1242.4% | -$11.1M-267.7% | -$5.3M | -$90.6M-2060.4% |
| EBITDA | -$14.6M+56.8% | -$18.9M-89.6% | -$64.5M-1392.8% | -$32.6M+63.7% | -$33.9M-893.2% | -$10.0M-252.7% | -$4.3M | -$89.8M-1924.2% |
| Interest Expense | $5.1M+628.6% | $3.2M+3100.0% | $1.6M+700.0% | $1.2M-97.1% | $700K-92.0% | $100K-98.8% | $200K | $42.1M+7783.9% |
| Income Tax | $211K-99.1% | $200K+108.3% | -$12.5M-22.5% | $14.0M+6410.8% | $23.3M+1674.4% | -$2.4M-507.5% | -$10.2M | -$222K-111.2% |
| Net Income | -$23.7M+58.0% | -$22.7M-139.0% | -$52.8M-1389.1% | -$60.0M+53.9% | -$56.5M-85.1% | -$9.5M+74.3% | $4.1M | -$130.2M-5642.5% |
| EPS (Basic) | -$0.24+59.3% | -$0.23-130.0% | -$0.90-184.9% | -$0.62+59.2% | -$0.59+43.3% | -$0.10+92.1% | $1.06 | -$1.52 |
| EPS (Diluted) | -$0.24+59.3% | -$0.23-130.0% | -$0.90 | -$0.62+59.2% | -$0.59 | -$0.10 | $1.06 | -$1.52 |
| Diluted Shares (Avg) | 97M+1.2% | 97M+1.2% | N/A | 97M+13.6% | 96M | 96M | N/A | 85M |
Not reported in any period shown, so not listed: R&D Expenses.
FXLV Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2310-Q | Q1'2310-Q | Q4'2210-Q | Q3'2210-Q | Q2'2210-Q | Q1'2210-Q | Q4'2110-K | Q3'2110-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $159.1M-35.3% | $180.1M-23.9% | $142.7M-27.2% | $226.0M+35.7% | $246.1M+130.1% | $236.6M | $196.0M+149.6% | $166.6M |
| Current Assets | $98.7M-24.9% | $116.1M-11.8% | $75.4M-25.8% | $135.3M+28.8% | $131.5M+147.6% | $131.7M | $101.7M+94.1% | $105.1M |
| Cash & Equivalents | $34.4M+306.4% | $53.7M+284.0% | $5.3M-87.5% | $16.7M-68.3% | $8.5M-49.0% | $14.0M-48.0% | $42.0M+45.0% | $52.6M+799.3% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $43.5M+20.1% | $43.1M+159.0% | $42.5M+313.0% | $53.7M+211.5% | $36.3M+468.2% | $16.6M | $10.3M+129.4% | $17.3M |
| Accounts Receivable | $5.1M-87.3% | $4.1M-90.9% | $9.9M-55.3% | $33.9M+121.4% | $40.4M+218.3% | $45.2M | $22.2M+131.9% | $15.3M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $2.1M-52.4% | $2.1M-54.3% | $2.1M-53.5% | $4.4M | $4.4M | $4.6M | $4.6M | N/A |
| Total Liabilities | $244.9M+63.0% | $242.9M+119.9% | $185.6M+144.5% | $183.6M+229.6% | $150.2M-70.8% | $110.5M | $75.9M-81.9% | $55.7M |
| Current Liabilities | $65.0M-8.5% | $69.1M+12.8% | $72.6M+31.2% | $84.1M+86.2% | $71.0M+47.3% | $61.3M | $55.3M+72.6% | $45.2M |
| Non-Current Liabilities | $179.8M+127.2% | $173.8M+253.3% | $113.1M+448.3% | $99.5M+845.1% | $79.2M-83.0% | $49.2M | $20.6M-94.7% | $10.5M |
| Long-Term Debt | $128.1M+108.0% | $125.1M+295.8% | $88.3M | $88.4M | $61.6M-75.2% | $31.6M | $0-100.0% | N/A |
| Total Equity | -$85.8M-263.2% | -$62.8M-160.3% | -$42.9M-135.7% | $42.4M-61.7% | $52.6M+112.9% | $104.1M+127.6% | $120.1M+135.3% | $110.9M+176.7% |
| Retained Earnings | -$594.5M-52.1% | -$570.8M-60.3% | -$548.1M-48.4% | -$451.0M-20.8% | -$391.0M-60.8% | -$356.0M | -$369.3M-110.0% | -$373.4M |
FXLV Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2310-Q | Q1'2310-Q | Q4'2210-Q | Q3'2210-Q | Q2'2210-Q | Q1'2210-Q | Q4'2110-K | Q3'2110-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$17.9M+36.3% | -$11.0M+76.0% | -$9.1M-177.2% | -$15.1M+44.5% | -$28.1M-280.3% | -$45.8M-22703.0% | -$3.3M+69.0% | -$27.2M-2284.8% |
| Depreciation & Amortization | $900K-25.0% | $865K-26.3% | $2.1M+115.6% | $1.4M+75.0% | $1.2M0.0% | $1.2M+475.5% | $986K+216.0% | $800K+165.8% |
| Stock-Based Compensation | N/A | $4.1M+97.2% | N/A | N/A | N/A | $2.1M | N/A | N/A |
| Capital Expenditures | $80K-96.9% | $600K-71.7% | $437K-78.0% | $1.4M+20.6% | $2.6M+839.2% | $2.1M+3059.7% | $2.0M+1127.8% | $1.1M+22300.0% |
| Free Cash Flow | -$17.9M+41.5% | -$11.6M+75.8% | -$9.5M-80.6% | -$16.4M+41.9% | -$30.7M-300.6% | -$48.0M-17792.2% | -$5.3M+50.8% | -$28.3M-2384.0% |
| Investing Cash Flow | -$274K+91.5% | -$646K+81.1% | -$1.6M+79.8% | -$2.4M+90.8% | -$3.2M-347.9% | -$3.4M-1806.7% | -$8.0M-1166.0% | -$26.5M-94428.6% |
| Financing Cash Flow | -$197K-100.7% | $61.0M+196.1% | -$239K-20.7% | $23.2M-73.7% | $29.5M+2352.0% | $20.6M+1669.6% | -$198K-100.6% | $88.2M+28279.2% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
FXLV Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2310-Q | Q1'2310-Q | Q4'2210-Q | Q3'2210-Q | Q2'2210-Q | Q1'2210-Q | Q4'2110-K | Q3'2110-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 71.7%+10.8pp | 66.7%-4.6pp | 78.3%+22.2pp | 67.9%-5.5pp | 60.9%-19.7pp | 71.4%-4.5pp | 56.1% | 73.4%+6.3pp |
| Operating Margin | -91.1% | -112.5% | -370.2% | -116.0% | -126.6% | -37.9%-21.3pp | -9.9% | -333.2% |
| Net Margin | -139.3% | -128.9% | -293.3% | -204.6% | -204.0% | -32.3% | 7.7% | -479.1% |
| Return on Equity | N/A | N/A | N/A | -141.4%-24.1pp | -107.5% | -9.1% | 3.4% | -117.4% |
| Return on Assets | -14.9%+8.0pp | -12.6%-8.6pp | -37.0%-39.1pp | -26.6%+51.6pp | -23.0%+5.6pp | -4.0% | 2.1% | -78.1% |
| Current Ratio | 1.52-0.3x | 1.68-0.5x | 1.04-0.8x | 1.61-0.7x | 1.85+0.8x | 2.15 | 1.84+0.2x | 2.33 |
| Debt-to-Equity | N/A | N/A | N/A | 2.08+1.6x | 1.17 | 0.30 | 0.00 | 0.50 |
| Asset Turnover | 0.110.0x | 0.100.0x | 0.13-0.1x | 0.130.0x | 0.11-0.1x | 0.12 | 0.27 | 0.16 |
| FCF Margin | -105.3% | -66.0% | -52.7%-42.8pp | -56.0% | -110.7% | -163.2% | -9.9% | -104.1% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$42.9M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| F45 Training Hldgs Inc FXLV | FY2022 | $104.4M | -$178.8M | N/A | $2.0M | — |
| Brownies Marine Group Inc BWMG | FY2025 | $7.5M | -$105K | -1.4% | $1.8M | — |
| Drive Shack DSHK | FY2021 | $281.9M | -$31.4M | -11.1% | $23.9M | — |
| Parks Amer Inc PRKA | FY2025 | $10.5M | $1.5M | 13.9% | $30.7M | — |
| Arvana AVNI | FY2024 | $68K | -$447K | N/A | $13K | — |
Where F45 Training Hldgs Inc Ranks
Frequently Asked Questions
What is F45 Training Hldgs Inc's annual revenue?
F45 Training Hldgs Inc (FXLV) reported $104.4M in total revenue for fiscal year 2022. This represents a -16.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is F45 Training Hldgs Inc's revenue growing?
F45 Training Hldgs Inc (FXLV) revenue declined by 16.6% year-over-year, from $125.2M to $104.4M in fiscal year 2022.
Is F45 Training Hldgs Inc profitable?
No, F45 Training Hldgs Inc (FXLV) reported a net income of -$178.8M in fiscal year 2022.
What is F45 Training Hldgs Inc's EBITDA?
F45 Training Hldgs Inc (FXLV) had EBITDA of -$140.9M in fiscal year 2022, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does F45 Training Hldgs Inc have?
As of fiscal year 2022, F45 Training Hldgs Inc (FXLV) had $5.3M in cash and equivalents against $88.3M in long-term debt.
What is F45 Training Hldgs Inc's gross margin?
F45 Training Hldgs Inc (FXLV) had a gross margin of 68.8% in fiscal year 2022, indicating the percentage of revenue retained after direct costs of goods sold.
What is F45 Training Hldgs Inc's free cash flow?
F45 Training Hldgs Inc (FXLV) recorded an outflow of $104.5M in free cash flow during fiscal year 2022. This represents a -152.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is F45 Training Hldgs Inc's operating cash flow?
F45 Training Hldgs Inc (FXLV) recorded an outflow of $98.0M in operating cash flow during fiscal year 2022, representing cash used by core business activities.
What are F45 Training Hldgs Inc's total assets?
F45 Training Hldgs Inc (FXLV) had $142.7M in total assets as of fiscal year 2022, including both current and long-term assets.
What are F45 Training Hldgs Inc's capital expenditures?
F45 Training Hldgs Inc (FXLV) invested $6.5M in capital expenditures during fiscal year 2022, funding long-term assets and infrastructure.
What is F45 Training Hldgs Inc's current ratio?
F45 Training Hldgs Inc (FXLV) had a current ratio of 1.04 as of fiscal year 2022, which is considered adequate.
What is F45 Training Hldgs Inc's return on assets (ROA)?
F45 Training Hldgs Inc (FXLV) had a return on assets of -125.3% for fiscal year 2022, measuring how efficiently the company uses its assets to generate profit.
How does F45 Training Hldgs Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2022, F45 Training Hldgs Inc (FXLV) held $5.3M in cash, cash equivalents and investments, and reported an operating cash outflow of $98.0M over that year. Dividing the one by the other, the reported balance equals about 1 month of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is F45 Training Hldgs Inc's debt-to-equity ratio negative or not reported?
F45 Training Hldgs Inc (FXLV) has negative shareholder equity of -$42.9M as of fiscal year 2022, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is F45 Training Hldgs Inc's Altman Z-Score?
F45 Training Hldgs Inc (FXLV) has an Altman Z-Score of -8.01, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is F45 Training Hldgs Inc's Piotroski F-Score?
F45 Training Hldgs Inc (FXLV) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are F45 Training Hldgs Inc's earnings high quality?
F45 Training Hldgs Inc (FXLV) reported a net loss of $178.8M while operations used $98.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can F45 Training Hldgs Inc cover its interest payments?
F45 Training Hldgs Inc (FXLV) reported an operating loss of $146.9M against $3.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.