Life Time Group Holdings Announces Q3 2023 Financial Performance

Krissy Vann | Host, All Things Fitness and Wellness

Life Time Group Holdings, Inc. has reported its financial results for the third quarter of 2023. The company's total revenue increased by 17.9% to $585.2 million, compared to $496.4 million in the same quarter of 2022. This growth was primarily driven by higher membership dues and in-center revenue.

While the net income decreased to $7.9 million from $24.7 million in the third quarter of 2022, the adjusted net income saw a significant improvement, rising from a loss of $11.5 million in 2022 to a profit of $26.7 million in 2023. Additionally, the company's Adjusted EBITDA surged by 101.4% to $143.0 million from $71.0 million in the same period last year.

Life Time remains optimistic about its future, with a strong focus on increasing member engagement and plans for continued growth.

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