Quarterly report pursuant to Section 13 or 15(d)

Revenue

v3.24.3
Revenue
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Revenue associated with our membership dues, enrollment fees, and certain services from our in-center businesses is recognized over time as earned. Revenue associated with products and services offered in our cafes and spas, as well as through e-commerce, is recognized at a point in time. The following is a summary of revenue, by major revenue stream, that we recognized during the three and nine months ended September 30, 2024 and 2023:
Three Months Ended
September 30,		 Nine Months Ended
September 30,
2024 2023 2024 2023
Membership dues and enrollment fees $ 488,105  $ 407,903  $ 1,376,212 $ 1,152,506
In-center revenue 186,670  160,499  524,055 455,773
Total center revenue 674,775  568,402  1,900,267 1,608,279
Other revenue 18,459  16,775  57,445 49,480
Total revenue $ 693,234  $ 585,177  $ 1,957,712 $ 1,657,759
The timing associated with the revenue we recognized during the three months ended September 30, 2024 and 2023 is as follows:
Three Months Ended September 30, 2024 Three Months Ended September 30, 2023
Center
Revenue		 Other
Revenue		 Total
Revenue		 Center
Revenue		 Other
Revenue		 Total
Revenue
Goods and services transferred over time $ 599,700 $ 18,459 $ 618,159 $ 502,003 $ 16,775 $ 518,778
Goods and services transferred at a point in time 75,075 — 75,075 66,399 — 66,399
Total revenue $ 674,775 $ 18,459 $ 693,234 $ 568,402 $ 16,775 $ 585,177
The timing associated with the revenue we recognized during the nine months ended September 30, 2024 and 2023 is as follows:
Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023
Center
Revenue		 Other
Revenue		 Total
Revenue		 Center
Revenue		 Other
Revenue		 Total
Revenue
Goods and services transferred over time $ 1,684,453 $ 57,445 $ 1,741,898 $ 1,417,352 $ 49,480 $ 1,466,832
Goods and services transferred at a point in time 215,814 — 215,814 190,927 — 190,927
Total revenue $ 1,900,267 $ 57,445 $ 1,957,712 $ 1,608,279 $ 49,480 $ 1,657,759
Contract liabilities represent payments or consideration received in advance for goods or services that the Company has not yet transferred to the customer. Contract liabilities consist primarily of deferred revenue for fees collected in advance for Dynamic Personal Training, media and athletic events, enrollment fees, other in-center services offerings and membership dues. Contract liabilities at September 30, 2024 and December 31, 2023 were $48.9 million and $49.9 million, respectively.
Contract liabilities that will be recognized within one year are classified as deferred revenue in our condensed consolidated balance sheets. Deferred revenue at September 30, 2024 and December 31, 2023 was $48.8 million and $49.3 million, respectively, and consists primarily of prepaid Dynamic Personal Training, media and athletic events, enrollment fees, other in-center services and membership dues.
Contract liabilities that will be recognized in a future period greater than one year are classified as a component of Other liabilities in our condensed consolidated balance sheets. Long-term contract liabilities at September 30, 2024 and December 31, 2023 were $0.1 million and $0.6 million, respectively, and consist primarily of deferred enrollment fees.