Life Time Group Holdings, Inc. (NYSE:LTH) Q2 2022 Earnings Conference Call August 10, 2022 8:30 AM ET
Company Participants
Bahram Akradi - Chairman, and CEO
Thomas Bergmann - President and CFO
Conference Call Participants
Brian Nagel - Oppenheimer & Co.
John Heinbockel - Guggenheim Securities
Robert Ohmes - Bank of America
Brian Harbour - Morgan Stanley
Simeon Siegel - BMO Capital Markets
Chris Woronka - Deutsche Bank
Christopher Carril - RBC Capital Markets
Daniel Politzer - Wells Fargo
Operator
Good morning, and welcome to the Life Time Group Holdings Conference Call to Discuss Financial Results for the Second Fiscal Quarter of 2022. [Operator Instructions] Please be advised that reproduction of this call in whole or in part is not permitted without written authorization from the company. As a reminder, this call is being recorded.
During this call, the company will make forward-looking statements which involve a number of risks and uncertainties that may cause actual results to differ materially from our forward-looking statements. There is a comprehensive list of risk factors in the company's SEC filings, which you are encouraged to review. Also, the company will discuss certain non-GAAP financial measures, including adjusted EBITDA and free cash flow before growth capital expenditures. This information, along with reconciliations to the most directly comparable GAAP measures are included in the earnings release issued this morning and the company's 8-K filed with the SEC and on the Investor Relations section of Life Time's website.
On the call from management today are Bahram Akradi, Founder, Chairman and Chief Elective Officer; and Tom Bergmann, President and Chief Financial Officer.
I will now turn the call over to Mr. Akradi. Please go ahead, sir.
Bahram Akradi
Good morning. It is great to be on this call with you today. We're happy to report that Life Time is growing back steadily. In the second quarter, revenue grew 42.7% to $461.3 million from $323.2 million year-over-year and from $392.3 million in the first quarter. Adjusted EBITDA in the second quarter grew to $63.1 million from $4.2 million year-over-year and from $40.6 million in the first quarter.
Clubs in states that emerge from pandemic early and where we rolled out our strategic initiatives such as Texas, Colorado, North Carolina and several others have recovered nicely and already surpassing 2019 monthly dues revenue levels. We expect to see many more of our clubs surpass 2019 monthly dues revenue levels as we complete the nationwide rollout of our strategic initiatives and continue our relentless focus on executing these programs.