Planet Fitness, Inc. (NYSE:PLNT) Q3 2022 Earnings Conference Call November 8, 2022 8:00 AM ET

Company Participants

Stacey Caravella - Vice President of Investor Relations

Chris Rondeau - Chief Executive Officer

Tom Fitzgerald - Chief Financial Officer

Conference Call Participants

Randy Konik - Jefferies

Brian Harbour - Morgan Stanley

Joe Altobello - Raymond James

Alex Perry - Bank of America

Warren Cheng - Evercore ISI

Max Rakhlenko - Cowen & Company

Jonathan Komp - Robert W. Baird & Co.

Simeon Siegel - BMO Capital Markets

John Heinbockel - Guggenheim

Paul Golding - Macquarie Capital

Operator

Hello, everyone and welcome to the Planet Fitness Third Quarter Earnings Conference call. My name is Emily and I will be coordinating your call today. [Operator Instructions]

I will now turn the call over to Stacey Caravella, VP Investor Relations. Please go ahead, Stacey.

Stacey Caravella

Thank you, operator and good morning, everyone. Speaking on today's call will be Planet Fitness Chief Executive Officer, Chris Rondeau; and Chief Financial Officer, Tom Fitzgerald, both of whom will be available for questions during the Q&A session following the prepared remarks. Today's call is being webcast live and recorded for replay.

Before I turn the call over to Chris, I'd like to remind everyone that the language on forward-looking statements included in our earnings release also applies to our comments made during the call. Our release can be found on our website, investor.planetfitness.com, along with any reconciliation of non-GAAP financial measures mentioned on the call with their corresponding GAAP measures. I'd also like to invite everyone to listen in to our Investor Day on Tuesday, November 15. You can find details on timing and the link to the webcast on our Investor Relations website.

Now, I'll turn the call over to Chris.

Chris Rondeau

Thank you, Stacey and thank you, everyone, for joining us for today's call.

We ended the quarter with more than 16.6 million members, an all-time high and added 29 new locations during the quarter, growing our total store base to 2,353. We continue our steady recovery out of the pandemic. Member trends remained strong with Q3 joins back to historical pre-COVID seasonality. Also, members were visiting the gym, continue to visit more frequently and cancels are lower compared to 2019 which we believe are signs that members are more committed to fitness. We recently hosted our Franchise Conference and the energy was amazing as we were back to meeting in-person for the first time in 3 years. The theme of the conference was Unstoppable, highlighting our ability to succeed over the past 30 years through all types of economic and political climates.