Planet Fitness reported fourth-quarter and full-year 2025 results and pointed to a pricing-and-demand signal for recurring revenue operators: the company said 2025 marked the first full year of its 50% price increase for new Classic Card members (its entry-tier membership) and still delivered ~1.1 million net new members.

For full-year 2025, Planet Fitness reported:

• Total revenue: $1.3B (+12.1%)
• System-wide same club sales: +6.7%
• System-wide sales: $5.3B (up from $4.8B)
• Net income: $219.1M ($2.62 per diluted share)
• 181 new clubs opened in 2025, ending with 2,896 total clubs

In Q4, the company reported:

• Revenue: $376.3M (+10.5%)
• System-wide same club sales: +5.7%
• System-wide sales: $1.3B (up from $1.2B)
• Net income: $60.4M ($0.73 per diluted share)

2026 Outlook

For 2026, Planet Fitness expects:

• System-wide same club sales growth: 4–5%
• Revenue growth: ~9%
• Adjusted EBITDA growth: ~10%
• System-wide new club openings: ~180–190

INSIDER TAKE

Planet Fitness is making a straightforward argument that matters to any recurring-revenue business: you can raise price without stalling growth—if you’re deliberate about where you raise it and the value remains easy to understand. In this case, the company points to a 50% price increase for new Classic Card signups (its entry-level tier), while still adding ~1.1 million net new members in 2025. The key nuance: this is a new-customer price reset, not a blanket repricing of the whole member base.

The second signal is about measurement. Planet Fitness’ “same club sales” isn’t a fuzzy, everything-included number. It’s calculated on clubs open long enough to be comparable, and it reflects monthly membership dues billed. For subscription operators, that’s closer to a “clean billing trend” than a blended revenue metric that can swing because of one-time items or seasonal factors.

Looking ahead, the 2026 outlook reads like a steady, planned cadence: comps guided to 4–5% after 6.7% in 2025, alongside continued club growth and EBITDA expansion. And because the business is largely franchised, the model is also a reminder that scaling recurring revenue often comes from a mix of central pricing strategy and distributed execution—a dynamic subscription teams will recognize in partner-led sales, channel programs, and marketplace distribution.

What we’ll be watching next: whether the “new-customer price reset” changes the quality of member cohorts over time (mix, durability, and yield per member). That isn’t detailed in this release, but it’s the next logical layer of the story.