Life Time Group Holdings reported strong financial results for the fourth quarter and full-year 2024, delivering double-digit revenue growth, record membership retention, and improved profitability. The company also raised its 2025 outlook based on early results.

Key financial highlights:

Fourth Quarter 2024:
- Revenue: $663.3 million, up 18.7% from Q4 2023
- Net income: $37.2 million, up 57.0%
- Diluted EPS: $0.17 per share
- Adjusted net income: $60.3 million, up 58.7%
- Adjusted EBITDA: $177.0 million, up 28.5%
- Memberships: 812,062, a 6.4% increase year-over-year
- Average revenue per membership: $796, up 12.0%

Full-Year 2024:
- Total revenue: $2.62 billion, up 18.2%
- Net income: $156.2 million, up 105.3%
- Diluted EPS: $0.74
- Adjusted net income: $200.5 million, up 54.6%
- Adjusted EBITDA: $676.8 million, up 26.1%
- Free cash flow: $273.6 million, positive for the third consecutive quarter
- Net debt leverage ratio: reduced to 2.28x from 3.61x

Operational and strategic updates:

- Membership and engagement: Achieved record member retention and highest-ever visits per membership, leading to the highest revenue per membership in company history.
- New center openings: Opened two new centers in Q4, totaling eight for the year.
- Debt management: Strengthened financial position through refinancing and sale-leaseback transactions totaling $207.4 million in net proceeds.

2025 outlook:

- Revenue: $2.91 billion – $2.97 billion (midpoint: +12.6% year-over-year)
- Net income: $262 million – $284 million (midpoint: +79.6% year-over-year)
- Adjusted EBITDA: $760 million – $800 million (+16.7% year-over-year)
- New center openings: 10 – 12 planned
- Net debt leverage ratio: maintain at or below 2.25x
- Comparable center revenue growth: 7% – 8%

CEO commentary:

Founder and CEO Bahram Akradi highlighted the company’s success in exceeding financial targets, achieving record member engagement, and maintaining strong margins. He expressed confidence in sustaining high growth in 2025 while strengthening financial flexibility.

Conclusion:

Life Time’s robust membership growth, increased revenue per membership, and strategic debt management have positioned it for continued success in 2025. With an expanded footprint and improving margins, the company is poised to capitalize on long-term growth opportunities in the premium fitness and wellness sector.