Life Time Group Holdings Inc (LTH) Reports Strong Revenue Growth in Q3 2023
October 25, 2023
Life Time Group Holdings Inc (NYSE:LTH) released its Q3 2023 earnings report on October 25, 2023, revealing a significant increase in total revenue and adjusted EBITDA. Despite a decrease in net income, the company’s adjusted net income showed a remarkable improvement, turning from a loss in Q3 2022 to a gain in Q3 2023.
Life Time’s Q3 2023 revenue increased by 17.9% to $585.2 million, driven by strong growth in membership dues and in-center revenue. The company’s adjusted EBITDA also saw a significant increase of 101.4% to $143.0 million from $71.0 million in Q3 2022. However, net income decreased to $7.9 million from $24.7 million in the same period last year. Yahoo Finance