Life Time Group Holdings, Inc. (LTH) Bundle
An Overview of Life Time Group Holdings, Inc. (LTH)
General Summary of Life Time Group Holdings, Inc.
Life Time Group Holdings, Inc. (LTH), founded in 1992, is a leading fitness and wellness company based in the United States. The company operates premium athletic country clubs that provide a variety of services including fitness classes, personal training, and wellness programs. As of 2024, Life Time has expanded to 177 centers across the country, with a total center square footage of approximately 17.4 million square feet.
Life Time's product offerings include membership access to fitness facilities, sports courts, swimming pools, and wellness services. The company also provides digital fitness solutions under the Life Time Digital brand. As of September 30, 2024, Life Time had approximately 826,502 center memberships, up from 784,331 the previous year, reflecting a growing demand for its services.
In terms of sales, Life Time reported total revenue of $1.96 billion for the nine months ended September 30, 2024, an increase from $1.66 billion during the same period in 2023.
Company's Financial Performance in the Latest Financial Reports
Life Time Group Holdings has demonstrated strong financial performance in its latest reporting period. For the nine months ended September 30, 2024, the company reported a total revenue increase of $300 million compared to the same period in 2023. This growth was primarily driven by a 76.6% contribution from membership dues and enrollment fees, which rose by $223.7 million to $1.38 billion.
In-center revenue also experienced a significant boost, increasing by $68.3 million to reach $524 million. The company's net income for the nine months was reported at $119.1 million, a substantial increase from $52.4 million in the prior year.
The following table summarizes key financial metrics for Life Time Group Holdings, Inc. for the three and nine months ended September 30, 2024 and 2023:
| Metric | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023 | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2023 |
|---|---|---|---|---|
| Total Revenue | $693.2 million | $585.2 million | $1.96 billion | $1.66 billion |
| Net Income | $41.4 million | $7.9 million | $119.1 million | $52.4 million |
| Membership Dues | $488.1 million | $407.9 million | $1.38 billion | $1.15 billion |
| In-Center Revenue | $186.7 million | $160.5 million | $524.1 million | $455.8 million |
Introduction to Life Time Group Holdings, Inc. as an Industry Leader
Life Time Group Holdings, Inc. is recognized as a leader in the fitness and wellness industry, distinguished by its innovative approach to health and wellness. The company has consistently focused on enhancing member experiences through state-of-the-art facilities and a comprehensive range of services. As of 2024, Life Time continues to expand its footprint, with new center openings contributing to revenue growth and increased member engagement.
With a commitment to promoting healthy lifestyles and community engagement, Life Time is well-positioned to maintain its leadership status in the industry. The company’s robust financial performance and strategic initiatives suggest a promising outlook for continued success in the competitive fitness landscape. For further details on Life Time's strategies and offerings, additional information is available below.
Mission Statement of Life Time Group Holdings, Inc. (LTH)
Mission Statement Overview
The mission statement of Life Time Group Holdings, Inc. (LTH) serves as a guiding principle for the company's long-term goals, reflecting its commitment to providing exceptional health and wellness experiences. The mission emphasizes a holistic approach to fitness, wellness, and community engagement, positioning Life Time as a leader in the premium fitness industry.
Core Component 1: Health and Wellness
Life Time's mission underscores its dedication to promoting health and wellness. The company operates 177 centers across the United States, offering a variety of fitness programs, personal training, and wellness services. For the nine months ended September 30, 2024, Life Time reported total center revenue of $1.9 billion, demonstrating a significant increase from $1.6 billion in the same period the previous year.
Key statistics supporting this component include:
- Total memberships reached 876,509 as of September 30, 2024, an increase from 830,039 in 2023.
- Average revenue per center membership rose to $2,361 in 2024, compared to $2,095 in 2023.
Core Component 2: Community Engagement
Life Time emphasizes community engagement through its mission, providing a platform for members to connect and support one another. The company has created a vibrant community that encourages participation in fitness events, group classes, and wellness initiatives. The total visits to Life Time clubs were 87 million for the nine months ended September 30, 2024, up from 78 million in the same period of 2023.
Community engagement is further illustrated by:
- The introduction of specialized programs such as ARORA, aimed at members aged 55 and older, which has seen a significant increase in participation.
- Dynamic Personal Training programs that have driven higher member utilization.
Core Component 3: Premium Experience
Life Time's mission highlights the importance of delivering a premium experience to its members. The company invests heavily in its facilities, ensuring they are equipped with state-of-the-art fitness equipment and amenities. As of September 30, 2024, the total center square footage was approximately 17.4 million, reflecting the company's commitment to providing expansive spaces for fitness and wellness.
Financial data supporting this commitment includes:
- Total revenue from membership dues and enrollment fees was $1.4 billion for the nine months ended September 30, 2024, representing an increase of $223.7 million compared to the previous year.
- In-center revenue also increased to $524 million, highlighting the utilization of premium services.
| Core Component | Key Metrics | 2024 | 2023 |
|---|---|---|---|
| Health and Wellness | Total memberships | 876,509 | 830,039 |
| Health and Wellness | Average revenue per membership | $2,361 | $2,095 |
| Community Engagement | Total visits | 87 million | 78 million |
| Premium Experience | Total center revenue | $1.9 billion | $1.6 billion |
Vision Statement of Life Time Group Holdings, Inc. (LTH)
Vision Statement Overview
The vision statement of Life Time Group Holdings, Inc. (LTH) as of 2024 emphasizes the company’s commitment to promoting a healthy way of life through its expansive network of athletic country clubs and wellness services. The company aims to be the leading destination for health and wellness, focusing on enhancing the member experience and community engagement.
Commitment to Health and Wellness
Life Time’s vision underscores a strong dedication to health and wellness, aiming to create an environment where members can thrive. The company operates 177 centers with a total square footage of approximately 17.4 million as of September 30, 2024 . This extensive footprint allows Life Time to serve a diverse and growing membership base, which stood at 826,502 members by the end of September 2024 .
Innovative Member Experiences
Life Time is focused on delivering innovative experiences that cater to the evolving needs of its members. The company has introduced various programs such as Dynamic Personal Training and ARORA for members aged 55 and older, reflecting its commitment to inclusivity and engagement . The average revenue per center membership increased to $2,361 for the nine months ended September 30, 2024, up from $2,095 in the prior year .
| Metric | 2024 | 2023 |
|---|---|---|
| Total Centers | 177 | 170 |
| Total Center Square Footage | 17,400,000 sq ft | 16,700,000 sq ft |
| Membership Count | 826,502 | 784,331 |
| Average Revenue per Center Membership | $2,361 | $2,095 |
Strategic Growth and Expansion
As part of its vision, Life Time plans to expand its reach by targeting affluent markets and increasing its center openings. The company aims for an average of 10 to 12 new locations annually, which is expected to drive membership growth and enhance overall revenue . The total revenue for the nine months ended September 30, 2024, was $1,957.7 million, reflecting a significant increase from $1,657.8 million in the same period of 2023 .
Community Engagement and Lifestyle Integration
Life Time's vision also emphasizes community engagement by providing resources that integrate health, fitness, and wellness into daily life. The launch of its digital platform, which offers live streaming fitness classes and nutrition support, reflects this dedication . The company’s focus on a holistic approach to health is evident in its diverse offerings that cater to various member needs and preferences.
Core Values of Life Time Group Holdings, Inc. (LTH)
Core Value: Commitment to Health and Wellness
Life Time Group Holdings, Inc. (LTH) demonstrates its commitment to health and wellness through various initiatives aimed at enhancing member experiences and promoting a healthy lifestyle.
As of September 30, 2024, Life Time reported a total membership of 876,509, an increase from 830,039 in the same period the previous year. Membership dues and enrollment fees accounted for 72.4% of total revenue, reflecting the company's focus on maintaining a robust membership base.
Additionally, the company has expanded its offerings, including Dynamic Personal Training and small group training programs, which have contributed to an increase in in-center revenue of $524.1 million for the nine months ended September 30, 2024, compared to $455.8 million the previous year.
| Metric | 2024 | 2023 |
|---|---|---|
| Total Memberships | 876,509 | 830,039 |
| Membership Dues and Enrollment Fees | $1,376,212,000 | $1,152,506,000 |
| In-Center Revenue | $524,055,000 | $455,773,000 |
Core Value: Community Engagement
Life Time fosters community engagement through initiatives that encourage member participation and social interaction. The company has launched various community-focused programs, such as the ARORA community for members aged 55 and older.
These programs have seen a significant increase in participation, contributing to an overall growth in member engagement. Notably, Life Time's events and activities have driven an increase in total revenue, which reached $1,957.7 million for the nine months ended September 30, 2024, up from $1,657.8 million in the previous year.
Core Value: Innovation and Technology
Innovation is a cornerstone of Life Time's operations, evident through the integration of technology in its services. The company's digital platform now offers an integrated app that includes live streaming fitness classes and remote personal training.
In 2024, Life Time has invested in enhancing its digital capabilities, which has allowed for a more comprehensive approach to member engagement. The company reported a net cash provided by operating activities of $411.98 million for the nine months ended September 30, 2024, demonstrating the financial benefits of these technological advancements.
Core Value: Sustainability
Life Time is committed to sustainability, reflected in its operational practices and facility management. The company focuses on environmentally friendly initiatives across its centers, aiming to minimize its carbon footprint.
As of September 30, 2024, Life Time has 177 operational centers, with ongoing efforts to integrate sustainable practices into new developments. This strategic approach not only aligns with the company's values but also appeals to a growing demographic of environmentally conscious consumers.
Core Value: Excellence in Service
Life Time's dedication to excellence in service is evident through its member support and personalized offerings. The company has implemented various training programs for staff to ensure high-quality service delivery.
The increase in average center revenue per center membership has risen to $2,361 in 2024 from $2,095 in 2023, indicating that the company's focus on service excellence is positively impacting financial performance.
Core Value: Financial Stewardship
Life Time Group Holdings places a strong emphasis on financial stewardship, as demonstrated by its effective management of resources and capital structure. As of September 30, 2024, the company had total debt of $1.66 billion, down from $1.95 billion the previous year, reflecting successful debt reduction strategies.
Furthermore, the company has enhanced its liquidity, with total cash and cash equivalents amounting to $120.9 million, providing a strong foundation for future growth initiatives.
Life Time Group Holdings, Inc. (LTH) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Article updated on 8 Nov 2024
Resources:
- Life Time Group Holdings, Inc. (LTH) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Life Time Group Holdings, Inc. (LTH)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Life Time Group Holdings, Inc. (LTH)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.