LTHHIGH SIGNALOPPORTUNITY10-K

Life Time delivered exceptional financial performance with net income surging 139% to $374M while dramatically strengthening its balance sheet through an 1,783% increase in cash position to $205M.

The company is executing a successful premium positioning strategy, evidenced by strong membership growth to 1.6 million individuals and the ability to achieve higher revenues with fewer but higher-quality memberships. The massive cash increase combined with robust operating cash flow growth of 51% provides substantial financial flexibility for expansion and strategic initiatives.

Comparing 2026-02-24 vs 2025-02-27View on EDGAR →
FINANCIAL ANALYSIS

Life Time demonstrated outstanding financial performance across all key metrics, with revenue growing 14% to $3.0B while net income more than doubled to $374M, indicating significant margin expansion and operational efficiency gains. The balance sheet was dramatically strengthened with cash surging from $11M to $205M and stockholders' equity increasing 20% to $3.1B, while the company simultaneously invested heavily in growth with capital expenditures rising 70% to $892M. The combination of exceptional profitability growth, massive cash position improvement, and substantial reinvestment in expansion signals a company successfully executing a premium growth strategy with strong financial backing.

FINANCIAL STATEMENT CHANGES
Cash & Equivalents
Balance Sheet
+1782.6%
$10.9M$204.8M

Cash position surged 1782.6% — strong cash generation or capital raise providing significant financial cushion.

Net Income
P&L
+139.2%
$156.2M$373.7M

Net income grew 139.2% — bottom-line growth signals improving overall business health.

Current Assets
Balance Sheet
+125.6%
$171.0M$385.8M

Current assets grew 125.6% — improving short-term liquidity or inventory/receivables build.

Capital Expenditure
Cash Flow
+70%
$524.5M$891.5M

Capital expenditure jumped 70% — major investment cycle underway; assess returns on deployment.

Operating Cash Flow
Cash Flow
+51.4%
$575.1M$870.5M

Operating cash flow surged 51.4% — exceptional cash generation, highest quality earnings signal.

Operating Income
P&L
+34.6%
$357.5M$481.3M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Stockholders Equity
Balance Sheet
+19.8%
$2.6B$3.1B

Equity base grew 19.8% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Current Liabilities
Balance Sheet
+17.2%
$520.1M$609.5M

Current liabilities rose 17.2% — increased short-term obligations, watch current ratio.

Revenue
P&L
+14.3%
$2.6B$3.0B

Revenue growing 14.3% — solid top-line momentum, watch margins for quality of growth.

Inventory
Balance Sheet
+12.2%
$60.3M$67.6M

Inventory built 12.2% — monitor whether demand supports this build or if write-downs may follow.

LANGUAGE CHANGES
NEW — 2026-02-24
PRIOR — 2025-02-27
ADDED
As of February 20, 2026, the regi strant had 221,805,082 shares of c ommon stock outstanding, par value $0.01 per share.
Who We Are Life Time, the Healthy Way of Life Company, is a premier lifestyle and leisure brand offering premium health, fitness and wellness experiences to a community of nearly 1.6 million individual members, who together comprise nearly 873,000 memberships, as of December 31, 2025.
Our premium real estate portfolio of owned and leased athletic country clubs spans over 18 million of indoor square feet and over seven million of outdoor square feet in the aggregate.
Our membership mix is notably shifting with couples and families comprising increasingly larger portions of total memberships.
These memberships have historically been more engaged with higher retention and higher average monthly dues.
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REMOVED
As of February 24, 2025, the regi strant had 209,592,785 shares of c ommon stock outstanding, par value $0.01 per share.
Forward-looking statements include all statements that are not historical facts, including statements reflecting our current views with respect to, among other things, our plans, strategies and prospects, both business and financial, including our financial outlook and cash flow, possible or assumed future actions, opportunities for growth and margin expansion, improvements to our balance sheet and leverage, capital expenditures, consumer demand, industry and economic trends, business strategies, events or results of operations.
Who We Are Life Time, the Healthy Way of Life Company, is a premier lifestyle and leisure brand offering premium health, fitness and wellness experiences to a community of more than 1.5 million individual members, who together comprise more than 866,000 memberships, as of December 31, 2024.
Our premium real estate portfolio of owned and leased athletic country clubs spans over 17 million of indoor square feet and approximately seven million of outdoor square feet.
The majority of our digital on-hold memberships cost $15 per month.
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