Xponential Fitness’ IPO follows the public offering last week of Mark Wahlberg-backed franchise studio operator F45 Training.Shares of Xponential Fitness, the Irvine, California-based franchise owner of fitness brands like Club Pilates and CycleBar, debuted on the New York Stock Exchange on Friday at $12, downsizing its IPO price of $14 to $16 a share. Xponential intends to raise a total of $120 million from the IPO.
“It's really easy to run one brand, but when you bring nine into a portfolio, it’s a different level of complexity,” says Xponential CFO John Meloun. “Figuring out the magic formula is something that we spent a lot of time on wanting to perfect before we chose the next big chapter: going public.” Xponential’s public offering follows Mark Wahlberg-backed Australian franchise studio operator F45 Training’s debut on the public market last week. Both IPOs come on the heels of a bludgeoning year for the fitness industry. According to, the U.S. fitness club industry lost $20.4 billion in 2020, just a year after generating a record $35 billion in revenue. Health clubs, gyms and studios in all states were closed for at least one month last year.
“There’s a reason that when the Peloton Studio was open, people would go there,” Siegel says. “I think what makes boutique fitness so special is exactly the in-person energy, the ability to leave your house, the ability to go and see similar people.”
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