•Total revenue of $706.0 million increased 18.3% over the prior year quarter

•Net income of $76.1 million increased 205.6% over the prior year quarter

•Diluted EPS increased to $0.34 for the quarter

•Adjusted net income of $88.1 million increased 188.9% over the prior year quarter

•Adjusted EBITDA of $191.6 million increased 31.2% over the prior year quarter

•Adjusted diluted EPS increased to $0.39 for the quarter

•Reduced net debt leverage ratio to 2.0 times

•Delivered positive net cash provided by operating activities and free cash flow for the fourth consecutive quarter

•Raised 2025 outlook

CHANHASSEN, Minn. (May 8, 2025) – Life Time Group Holdings, Inc. (“Life Time,” “we,” “our,” “us,” or the “Company”) (NYSE: LTH) today announced its financial results for the fiscal first quarter ended March 31, 2025.

Bahram Akradi, Founder, Chairman and CEO, stated: “We continue to see increased member engagement, with visits and revenue per membership at new highs. The desirability of the Life Time brand is evident in our ongoing success in attracting and retaining increasingly higher quality memberships to our centers. We are also excited to leverage the strength of our brand as we expand our LTH nutritional products and enhance our digital offering, including our L.AI.C companion. Our balance sheet is strong, positioning us well to capitalize on the opportunities ahead.”

(1)    The three months ended March 31, 2025 and 2024 included non-cash share-based compensation expense of $10.3 million and $7.1 million, respectively.

•Revenue increased 18.3% to $706.0 million due to continued strong growth in membership dues and in-center revenue, driven by an increase in average dues, membership growth in our new and ramping centers, and higher member utilization of our in-center offerings.

•Center memberships increased by 24,364, or 3.0%, when compared to March 31, 2024, and increased by 14,312 from the fourth quarter 2024, to 826,374. We continue to experience higher visits per membership, resulting in many clubs with total daily visits at or near optimal levels. To preserve our members’ in-center experience, we have focused on strategically growing memberships with an emphasis on revenue per membership.

•Total subscriptions, which include center memberships and our on-hold memberships, increased 3.1% to 879,751 as compared to March 31, 2024.

•Center operations expenses increased 15.3% to $371.0 million primarily due to operating costs related to our new and ramping centers as well as costs to support growth in memberships and in-center business revenue.

•General, administrative and marketing expenses increased 18.2% to $57.8 million primarily due to the timing of share-based compensation and benefit-related expenses, increases in center support overhead to enhance and broaden our member services and experiences, information technology costs, and costs attributable to the secondary offering of common stock completed in February 2025.

•Net income increased 205.6% to $76.1 million primarily due to improved business performance and a $14.6 million tax benefit as a result of an excess tax deduction associated with stock option exercises.

•Adjusted net income increased 188.9% to $88.1 million and Adjusted EBITDA increased 31.2% to $191.6 million as we experienced greater flow through of our increased revenue and benefited from the structural improvements to our business that have improved our margins.

•We opened one new center during the first quarter of 2025.

•As of March 31, 2025, we operated a total of 180 centers.

•Over the next 90 days, we plan to start the remodel of three recently acquired properties, with completion expected over the next 6 to 18 months. These properties were part of an acquisition of existing health club and racquet locations completed in April 2025 for approximately $60 million, paid in cash and $40 million of our common stock.

•Net cash provided by operating activities increased 103.4% to $183.9 million for the first quarter of 2025 due to improved business operations and timing of cash interest expense.

•We achieved positive free cash flow of $41.4 million for the first quarter of 2025.

•On May 6, 2025, we signed a letter of intent for the sale-leaseback of three properties for approximately $150 million in gross proceeds, which we expect to complete in the second quarter.

•Our capital expenditures by type of expenditure were as follows:

(1)    Consist of new center land and construction, initial major remodels of acquired centers, major remodels of existing centers that expand existing square footage, asset acquisitions including the purchase of previously leased centers and other growth initiatives.

•Our net debt leverage ratio improved to 2.0x as of March 31, 2025, from 3.6x as of March 31, 2024.

•As of March 31, 2025, our total available liquidity was $678.2 million, which included availability on our $650.0 million revolving credit facility and cash and cash equivalents.

•Effective April 8, 2025, we entered into an interest rate swap agreement for our entire term loan facility notional amount of $997.5 million, which converted the variable interest rate of our term loan facility to a fixed interest rate of 3.409%, plus the applicable margin of 2.50% (subject to one ratings-based step down of 0.25%).

•Open 10 to 12 new centers.

•Manage our net debt leverage ratio to remain at or below 2.00 times.

•Comparable center revenue growth of 8.5% to 9.5%, increased from our previous expectations of 7% to 8%.

•Adjusted EBITDA growth driven primarily by dues revenue growth and expanded operating leverage.

•Rent to include non-cash rent expense of $35 million to $38 million.

•Interest expense, net of interest income and capitalized interest, of approximately $80 million to $84 million, reflecting the positive impact of the interest rate swap agreement. Our previous expectations were $90 million to $94 million.

•Provision for income tax rate estimate of 23%, revised down from the previous estimate of 27% to reflect the tax benefit realized on stock option exercises in the first quarter.

•Cash income tax expense of $39 million to $41 million, which compares to our previous expectation of $58 million to $62 million and reflects the tax benefit discussed above.

•Depreciation and amortization expense of $286 million to $294 million, reflecting the impact of asset acquisitions and the timing of certain capital expenditure initiatives. The previous expectations were $265 million to $273 million.

•Date: Thursday, May 8, 2025

•Time: 10:00 a.m. ET (9:00 a.m. CT)

•U.S. dial-in number: 1-877-451-6152

•International dial-in number: 1-201-389-0879

•Webcast: LTH 1Q 2025 Earnings Call

•A link to the live audio webcast of the conference call will be available at https://ir.lifetime.life.

Webcast – A recorded replay of the webcast will be available within approximately three hours of the call’s conclusion and may be accessed at: https://ir.lifetime.life.

Conference Call – A replay of the conference call will be available after 1:00 p.m. ET the same day through May 22, 2025:

•U.S. replay number: 1-844-512-2921

•International replay number: 1-412-317-6671

•Replay ID: 1375 3137

Life Time (NYSE: LTH) empowers people to live healthy, happy lives through its portfolio of 180 athletic country clubs across the United States and Canada, the complimentary, comprehensive Life Time app and nearly 30 of the most iconic athletic events in the country. The health and wellness pioneer uniquely serves people 90 days to 90+ years old through its healthy living, healthy aging, healthy entertainment communities and ecosystem, along with a range of healthy way of life programs and information, and highly trusted LTH nutritional supplements and products. Life Time was recently certified as a Great Place to Work®, reinforcing its commitment to fostering an exceptional workplace culture on behalf of its more than 43,000 dedicated team members.

Ken Cooper, Investor Relations // kcooper2@lt.life or 952-406-2322

Connor Wienberg, Investor Relations // cwienberg@lt.life or 952-229-7401

Jason Thunstrom, Corporate Communications // jthunstrom@lt.life or 952-229-7435

(3)    Net new center openings is calculated as the number of centers that opened for the first time to members during the period, less any centers that closed during the period. Total centers (end of period) is the number of centers operational as of the last day of the period. During the three months ended March 31, 2025, we opened one center.

(a)    Share-based compensation expense recognized during the three months ended March 31, 2025, was associated with stock options, restricted stock units, performance stock units, our employee stock purchase plan (“ESPP”), and liability-classified awards related to our 2025 short-term incentive plan. Share-based compensation expense recognized during the three months ended March 31, 2024, was associated with stock options, restricted stock units, our ESPP and liability-classified awards related to our 2024 short-term incentive plan.

(c)    Includes (i) legal-related expenses in pursuit of our claim against Zurich of $0.1 million and $0.2 million for the three months ended March 31, 2025 and 2024, respectively, and (ii) other immaterial transactions that are unusual or non-recurring in nature of $0.1 million for the three months ended March 31, 2025.

(9)    Reflects the non-cash portion of our annual GAAP operating lease expense that is greater or less than the cash operating lease payments. Non-cash rent expense for our open properties represents non-cash expense associated with properties that were operating at the end of each period presented. Non-cash rent expense for our properties under development represents non-cash expense associated with properties that are still under development at the end of each period presented.