Planet Fitness (PLNT) 10-Q9 Nov 232023 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2023	Nov. 02, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-37534
Entity Registrant Name	PLANET FITNESS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	38-3942097
Entity Address, Address Line One	4 Liberty Lane West
Entity Address, City or Town	Hampton
Entity Address, State or Province	NH
Entity Address, Postal Zip Code	03842
City Area Code	603
Local Phone Number	750-0001
Title of 12(b) Security	Class A common stock, $0.0001 Par Value
Trading Symbol	PLNT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001637207
Current Fiscal Year End Date	--12-31
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		85,438,502
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,708,410

Condensed consolidated balance

Condensed consolidated balance sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 308,970	$ 409,840
Restricted cash	46,381	62,659
Short-term marketable securities	108,460	0
Accounts receivable, net of allowances for uncollectible amounts of $0 and $0 as of September 30, 2023 and December 31, 2022, respectively	36,362	46,242
Inventory	7,536	5,266
Prepaid expenses	18,073	11,078
Other receivables	8,678	14,975
Income tax receivables	5,659	5,471
Total current assets	540,119	555,531
Long-term marketable securities	10,252	0
Property and equipment, net of accumulated depreciation of $296,677 and $227,869 as of September 30, 2023 and December 31, 2022, respectively	366,780	348,820
Investments, net of allowances for expected credit losses of $14,951 and $14,957 as of September 30, 2023 and December 31, 2022, respectively	46,037	25,122
Right-of-use assets, net	381,819	346,937
Intangible assets, net	385,462	417,067
Goodwill	717,502	702,690
Deferred income taxes	492,965	454,565
Other assets, net	3,911	3,857
Total assets	2,944,847	2,854,589
Current liabilities:
Current maturities of long-term debt	20,750	20,750
Accounts payable	28,364	20,578
Accrued expenses	56,430	66,993
Equipment deposits	13,933	8,443
Restricted liabilities – national advertising fund	805	0
Deferred revenue, current	64,352	53,759
Payable pursuant to tax benefit arrangements, current	38,193	31,940
Other current liabilities	50,019	42,067
Total current liabilities	272,846	244,530
Long-term debt, net of current maturities	1,966,682	1,978,131
Lease liabilities, net of current portion	379,810	341,843
Deferred revenue, net of current portion	32,670	33,152
Deferred tax liabilities	1,397	1,471
Payable pursuant to tax benefit arrangements, net of current portion	451,569	462,525
Other liabilities	4,803	4,498
Total noncurrent liabilities	2,836,931	2,821,620
Commitments and contingencies (Note 14)
Stockholders’ equity (deficit):
Accumulated other comprehensive loss	(684)	(448)
Additional paid in capital	570,397	505,144
Accumulated deficit	(726,800)	(703,717)
Total stockholders’ deficit attributable to Planet Fitness Inc.	(157,078)	(199,012)
Non-controlling interests	(7,852)	(12,549)
Total stockholders’ deficit	(164,930)	(211,561)
Total liabilities and stockholders’ deficit	2,944,847	2,854,589
Class A Common Stock
Stockholders’ equity (deficit):
Common stock	9	8
Class B Common Stock
Stockholders’ equity (deficit):
Common stock	$ 0	$ 1

Condensed consolidated balanc_2

Condensed consolidated balance sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Accounts receivable, allowance for bad debts	$ 0	$ 0
Accumulated depreciation	296,677	227,869
Allowance for expected credit loss	$ 14,951	$ 14,957
Class A Common Stock
Stockholders’ equity (deficit):
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	85,410,000	83,430,000
Common stock, shares outstanding (in shares)	85,410,000	83,430,000
Class B Common Stock
Stockholders’ equity (deficit):
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	2,733,000	6,146,000
Common stock, shares outstanding (in shares)	2,733,000	6,146,000

Condensed consolidated statemen

Condensed consolidated statements of operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue:
Total revenue	$ 277,551	$ 244,386	$ 786,240	$ 655,504
Operating costs and expenses:
Cost of revenue	53,751	48,531	132,561	103,436
Store operations	63,120	57,892	188,011	161,789
Selling, general and administrative	33,290	27,148	93,705	86,176
National advertising fund expense	17,618	17,009	52,496	50,445
Depreciation and amortization	37,477	32,572	110,254	90,427
Other (gains) losses, net	(56)	(700)	7,705	(2,452)
Total operating costs and expenses	205,200	182,452	584,732	489,821
Income from operations	72,351	61,934	201,508	165,683
Other expense, net:
Interest income	4,245	1,561	12,339	2,244
Interest expense	(21,704)	(21,917)	(64,771)	(66,527)
Other income, net	148	4,762	631	9,000
Total other expense, net	(17,311)	(15,594)	(51,801)	(55,283)
Income before income taxes	55,040	46,340	149,707	110,400
Equity losses of unconsolidated entities, net of tax	(242)	(2)	(580)	(334)
Provision for income taxes	13,474	15,661	38,855	35,942
Net income	41,324	30,677	110,272	74,124
Less net income attributable to non-controlling interests	2,190	3,764	7,299	8,405
Net income attributable to Planet Fitness, Inc.	$ 39,134	$ 26,913	$ 102,973	$ 65,719
Class A Common Stock
Net income per share of Class A common stock:
Basic (in usd per share)	$ 0.46	$ 0.32	$ 1.22	$ 0.78
Diluted (in usd per share)	$ 0.46	$ 0.32	$ 1.21	$ 0.78
Weighted-average shares of Class A common stock outstanding:
Basic (in shares)	84,609,522	84,156,488	84,557,902	84,377,324
Diluted (in shares)	84,886,319	84,546,613	84,870,312	84,797,924
Franchise
Revenue:
Total revenue	$ 80,587	$ 66,168	$ 237,313	$ 200,243
National advertising fund revenue
Revenue:
Total revenue	17,578	14,578	52,378	43,130
Corporate-owned stores
Revenue:
Total revenue	113,245	101,330	332,885	278,940
Equipment
Revenue:
Total revenue	$ 66,141	$ 62,310	$ 163,664	$ 133,191

Condensed consolidated statem_2

Condensed consolidated statements of comprehensive income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income including non-controlling interests	$ 41,324	$ 30,677	$ 110,272	$ 74,124
Other comprehensive (loss) income, net:
Foreign currency translation adjustments	(393)	(516)	17	(638)
Change in unrealized gain (loss) on marketable securities, net of tax	42	0	(253)	0
Total other comprehensive (loss) income, net	(351)	(516)	(236)	(638)
Total comprehensive income including non-controlling interests	40,973	30,161	110,036	73,486
Less: total comprehensive income attributable to non-controlling interests	2,190	3,764	7,299	8,405
Total comprehensive income attributable to Planet Fitness, Inc.	$ 38,783	$ 26,397	$ 102,737	$ 65,081

Condensed consolidated statem_3

Condensed consolidated statements of cash flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 110,272	$ 74,124
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	110,254	90,427
Amortization of deferred financing costs	4,114	4,129
Write-off of deferred financing costs	0	1,583
Accretion of marketable securities discount	(2,224)	0
Dividends accrued on investment	(1,490)	(1,391)
Deferred tax expense	34,884	35,026
Equity losses of unconsolidated entities, net of tax	580	334
Gain on adjustment of allowance for credit losses on held-to-maturity investment	(6)	(1,572)
Gain on re-measurement of tax benefit arrangement	0	(8,381)
Loss on reacquired franchise rights	110	1,160
Gain on sale of corporate-owned stores	0	(1,324)
Equity-based compensation	6,326	6,942
Other	133	267
Changes in operating assets and liabilities, excluding effects of acquisitions:
Accounts receivable	10,086	(7,477)
Inventory	(2,270)	(3,071)
Other assets and other current assets	(1,722)	(567)
Restricted liabilities (assets) - national advertising fund	805	(1,773)
Accounts payable and accrued expenses	(7,488)	(22,521)
Other liabilities and other current liabilities	6,855	1,728
Income taxes	(104)	(2,111)
Payable pursuant to tax benefit arrangements	(21,780)	(14,211)
Equipment deposits	5,495	26,049
Deferred revenue	9,428	11,506
Leases	4,662	1,550
Net cash provided by operating activities	266,920	190,426
Cash flows from investing activities:
Additions to property and equipment	(84,636)	(65,138)
Acquisition of franchisees, net of cash acquired	(26,264)	(424,940)
Proceeds from sale of corporate-owned stores	0	20,820
Proceeds from sale of property and equipment	2	60
Purchases of marketable securities	(155,007)	0
Maturities of marketable securities	37,990	0
Other investments	(20,000)	0
Net cash used in investing activities	(247,915)	(469,198)
Cash flows from financing activities:
Principal payments on capital lease obligations	(152)	(207)
Proceeds from issuance of long-term debt	0	900,000
Proceeds from issuance of Variable Funding Notes	0	75,000
Repayment of long-term debt and Variable Funding Notes	(15,563)	(719,625)
Payment of financing and other debt-related costs	0	(15,951)
Proceeds from issuance of Class A common stock	8,575	779
Repurchase and retirement of Class A common stock	(125,030)	(94,314)
Distributions paid to members of Pla-Fit Holdings	(4,216)	(2,945)
Net cash (used in) provided by financing activities	(136,386)	142,737
Effects of exchange rate changes on cash and cash equivalents	233	(729)
Net decrease in cash, cash equivalents and restricted cash	(117,148)	(136,764)
Cash, cash equivalents and restricted cash, beginning of period	472,499	603,941
Cash, cash equivalents and restricted cash, end of period	355,351	467,177
Supplemental cash flow information:
Net cash paid for income taxes	4,394	3,072
Cash paid for interest	60,964	60,535
Non-cash investing & financing activities:
Non-cash additions to property and equipment	20,590	11,566
Accrued taxes on share repurchases	1,048	0
Fair value of common stock issued as consideration for acquisition	$ 0	$ 393,730

Condensed consolidated statem_4

Condensed consolidated statement of changes in equity (deficit) (Unaudited) - USD ($) $ in Thousands	Total	Class A common stock	Class B common stock	Common stock Class A common stock	Common stock Class B common stock	Accumulated other comprehensive income (loss)	Additional paid- in capital	Accumulated deficit	Non-controlling interests
Beginning balance (in shares) at Dec. 31, 2021				83,804,000	3,056,000
Beginning balance at Dec. 31, 2021	$ (642,845)			$ 8	$ 1	$ 12	$ 63,428	$ (708,804)	$ 2,510
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	74,124							65,719	8,405
Equity-based compensation expense	6,942						6,942
Exchanges of Class B common stock and other adjustments (in shares)				548,000	(548,000)
Exchanges of Class B common stock and other adjustments	0						22,534		(22,534)
Repurchase and retirement of Class A common stock (in shares)				(1,528,000)
Repurchase and retirement of Class A common stock	(94,314)						6,426	(94,314)	(6,426)
Exercise of stock options, vesting of restricted share units and ESPP share purchase (in shares)				73,000
Exercise of stock options, vesting of restricted share units and ESPP share purchase	998						998
Issuance of common stock for acquisition (in shares)				517,000	3,638,000
Issuance of common stock for acquisition	393,730						416,509		(22,779)
Tax benefit arrangement liability and deferred taxes arising from exchanges of Class B common stock and other adjustments	17,528						17,528
Non-cash adjustments to VIEs	(686)								(686)
Distributions paid to members of Pla-Fit Holdings	(2,945)								(2,945)
Other comprehensive loss	(638)					(638)
Ending balance (in shares) at Sep. 30, 2022				83,414,000	6,146,000
Ending balance at Sep. 30, 2022	(248,106)			$ 8	$ 1	(626)	534,365	(737,399)	(44,455)
Beginning balance (in shares) at Jun. 30, 2022				84,230,000	6,146,000
Beginning balance at Jun. 30, 2022	(229,008)			$ 8	$ 1	(110)	529,026	(714,297)	(43,636)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	30,677							26,913	3,764
Equity-based compensation expense	1,341						1,341
Repurchase and retirement of Class A common stock (in shares)				(831,000)
Repurchase and retirement of Class A common stock	(50,015)						3,432	(50,015)	(3,432)
Exercise of stock options, vesting of restricted share units and ESPP share purchase (in shares)				15,000
Exercise of stock options, vesting of restricted share units and ESPP share purchase	624						624
Tax benefit arrangement liability and deferred taxes arising from exchanges of Class B common stock and other adjustments	(58)						(58)
Non-cash adjustments to VIEs	(229)								(229)
Distributions paid to members of Pla-Fit Holdings	(922)								(922)
Other comprehensive loss	(516)					(516)
Ending balance (in shares) at Sep. 30, 2022				83,414,000	6,146,000
Ending balance at Sep. 30, 2022	(248,106)			$ 8	$ 1	(626)	534,365	(737,399)	(44,455)
Beginning balance (in shares) at Dec. 31, 2022		83,430,000	6,146,000	83,430,000	6,146,000
Beginning balance at Dec. 31, 2022	(211,561)			$ 8	$ 1	(448)	505,144	(703,717)	(12,549)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	110,272							102,973	7,299
Equity-based compensation expense	6,326						6,326
Exchanges of Class B common stock and other adjustments (in shares)		3,412,312		3,413,000	(3,413,000)
Exchanges of Class B common stock and other adjustments	0			$ 1	$ (1)		(9,096)		9,096
Repurchase and retirement of Class A common stock (in shares)				(1,699,000)
Repurchase and retirement of Class A common stock	(126,078)						3,117	(126,078)	(3,117)
Exercise of stock options, vesting of restricted share units and ESPP share purchase (in shares)				266,000
Exercise of stock options, vesting of restricted share units and ESPP share purchase	8,611						8,611
Tax benefit arrangement liability and deferred taxes arising from exchanges of Class B common stock and other adjustments	56,295						56,295
Non-cash adjustments to VIEs	(389)								(389)
Deconsolidation of VIEs	(3,954)							22	(3,976)
Distributions paid to members of Pla-Fit Holdings	(4,216)								(4,216)
Other comprehensive loss	(236)					(236)
Ending balance (in shares) at Sep. 30, 2023		85,410,000	2,733,000	85,410,000	2,733,000
Ending balance at Sep. 30, 2023	(164,930)			$ 9	$ 0	(684)	570,397	(726,800)	(7,852)
Beginning balance (in shares) at Jun. 30, 2023				83,980,000	4,151,000
Beginning balance at Jun. 30, 2023	(215,961)			$ 9	$ 0	(333)	564,170	(765,815)	(13,992)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	41,324							39,134	2,190
Equity-based compensation expense	1,533						1,533
Exchanges of Class B common stock and other adjustments (in shares)		1,417,603		1,418,000	(1,418,000)
Exchanges of Class B common stock and other adjustments	0						(4,430)		4,430
Exercise of stock options, vesting of restricted share units and ESPP share purchase (in shares)				12,000
Exercise of stock options, vesting of restricted share units and ESPP share purchase	591						591
Tax benefit arrangement liability and deferred taxes arising from exchanges of Class B common stock and other adjustments	8,533						8,533
Deconsolidation of VIEs	(119)							(119)
Distributions paid to members of Pla-Fit Holdings	(480)								(480)
Other comprehensive loss	(351)					(351)
Ending balance (in shares) at Sep. 30, 2023		85,410,000	2,733,000	85,410,000	2,733,000
Ending balance at Sep. 30, 2023	$ (164,930)			$ 9	$ 0	$ (684)	$ 570,397	$ (726,800)	$ (7,852)

Business organization

Business organization	9 Months Ended
Business organization	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business organization	Business organization Planet Fitness, Inc. (the “Company”), through its subsidiaries, is a franchisor and operator of fitness centers, with more than 18.5 million members and 2,498 owned and franchised locations (referred to as stores) in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia as of September 30, 2023. The Company serves as the reporting entity for its various subsidiaries that operate three distinct lines of business: • Licensing and selling franchises under the Planet Fitness trade name; • Owning and operating fitness centers under the Planet Fitness trade name; and • Selling fitness-related equipment to franchisee-owned stores. In 2012 investment funds affiliated with TSG Consumer Partners, LLC (“TSG”), purchased interests in Pla-Fit Holdings. The Company was formed as a Delaware corporation on March 16, 2015 for the purpose of facilitating an initial public offering (the “IPO”) and related transactions in order to carry on the business of Pla-Fit Holdings, LLC and its subsidiaries (“Pla-Fit Holdings”). As of August 5, 2015, in connection with the recapitalization transactions, the Company became the sole managing member and holder of 100% of the voting power of Pla-Fit Holdings. Pla-Fit Holdings owns 100% of Planet Intermediate, LLC, which has no operations but is the 100% owner of Planet Fitness Holdings, LLC, a franchisor and operator of fitness centers. With respect to the Company, Pla-Fit Holdings and Planet Intermediate, LLC, each entity owns nothing other than the respective entity below it in the corporate structure and each entity has no other material operations. The Company is a holding company whose principal asset is a controlling equity interest in the membership units (“Holdings Units”) in Pla-Fit Holdings. As the sole managing member of Pla-Fit Holdings, the Company operates and controls all of the business and affairs of Pla-Fit Holdings, and through Pla-Fit Holdings, conducts its business. As a result, the Company consolidates Pla-Fit Holdings’ financial results and reports a non-controlling interest related to the portion of Holdings Units not owned by the Company. As of September 30, 2023, the Company held 100.0% of the voting interest and approximately 96.9% of the economic interest in Pla-Fit Holdings and the owners of Holdings Units other than the Company (the “Continuing LLC Owners”) held the remaining 3.1% economic interest in Pla-Fit Holdings. As future exchanges of Holdings Units occur, the economic interest in Pla-Fit Holdings held by Planet Fitness, Inc. will increase.

Summary of significant accounti

Summary of significant accounting policies	9 Months Ended
Summary of significant accounting policies	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies (a) Basis of presentation and consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, these interim financial statements do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented have been reflected. All significant intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial statements as of and for the three and nine months ended September 30, 2023 and 2022 are unaudited. The condensed consolidated balance sheet as of December 31, 2022 has been derived from the audited financial statements at that date but does not include all of the disclosures required by U.S. GAAP. These interim condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “Annual Report”) filed with the SEC on March 1, 2023, as amended on March 2, 2023. The Company’s significant interim accounting policies include the proportional recognition of national advertising fund expenses within interim periods. Operating results for the interim periods are not necessarily indicative of the results that may be expected for the full year. (b) Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. Significant areas where estimates and judgments are relied upon by management in the preparation of the consolidated financial statements include revenue recognition, valuation of equity-based compensation awards, valuation of assets and liabilities acquired in business combinations, valuation of certain investments and other financial instruments including valuation of investments without readily determinable fair values, the evaluation of the recoverability of goodwill and long-lived assets, including intangible assets, allowance for expected credit losses, contingent liabilities, the present value of lease liabilities, income taxes, including deferred tax assets and liabilities, and the liability for the Company’s tax benefit arrangements. (c) Marketable securities Marketable securities primarily consist of commercial paper, corporate debt securities, U.S. treasury securities, and U.S. government agency securities. We classify our marketable securities as available-for-sale at the time of purchase and reevaluate such classification at each balance sheet date. We may sell these securities at any time for use in current operations even if they have not yet reached maturity. The Company invests in a diversified portfolio of marketable securities and limits the concentration of its investment in any particular security. Securities with maturities greater than three months, but less than one year, are included in current assets and securities with maturities greater than one year are included within investments in non-current assets on the consolidated balance sheets. All marketable securities classified as available-for-sale are reported at fair value. If the estimated fair value of an available-for-sale debt security is below its amortized cost basis, then the Company evaluates the security for impairment. The Company considers its intent to sell the security or whether it is more likely than not that it will be required to sell the security before recovery of its amortized basis. If either of these criteria are met, the debt security’s amortized cost basis is written down to fair value through other income (expense), net in the consolidated statements of operations. If neither of these criteria are met, the Company evaluates whether unrealized losses have resulted from a credit loss or other factors. The factors considered in determining whether a credit loss exists can include the extent to which fair value is less than the amortized cost basis, changes to the rating of the security by a rating agency, any adverse conditions specifically related to the security, as well as other factors. An impairment relating to credit losses is recorded through an allowance for credit losses reported in other income (expense), net in the consolidated statements of operations. The allowance is limited by the amount that the fair value of the debt security is below its amortized cost basis. When a credit loss exists, the Company compares the present value of cash flows expected to be collected from the debt security with the amortized cost basis of the security to determine what allowance amount, if any, should be recorded. Unrealized gains or losses not resulting from credit losses are recorded through accumulated other comprehensive income (loss). Realized gains and losses from the sale of marketable securities are determined based on the specific identification method. Realized gains and losses are reported in other income (expense), net in the consolidated statements of operations. Interest income from marketable securities is recognized as earned within the condensed consolidated statement of operations. (d) Fair value ASC 820, Fair Value Measurements and Disclosures , establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows: Level 1—Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2—Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3—Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The fair value measurements and levels of marketable securities are included in Note 3. The carrying value and estimated fair value of certain liabilities as of September 30, 2023 and December 31, 2022 were as follows: September 30, 2023 December 31, 2022 Carrying value Estimated fair value Carrying value Estimated fair value Liabilities Long-term debt (1) $ 2,009,625 $ 1,763,500 $ 2,025,188 $ 1,730,634 (1) The estimated fair value of the Company’s fixed rate long-term debt is estimated primarily based on current bid prices for the long-term debt. Judgment is required to develop these estimates. As such, the fair value of long-term debt is classified within Level 2, as defined under U.S. GAAP. (e) Recent accounting pronouncements

Investments

Investments	9 Months Ended
Investments	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments - Marketable securities The following table summarizes the amortized cost, gross unrealized gains (losses), and fair value of the Company’s cash equivalents and marketable securities: September 30, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash Equivalents Marketable Securities Level 1 Money market funds $ 981 $ — $ — $ 981 $ 981 $ — Level 2 Commercial paper 74,471 — (86) 74,385 7,955 66,430 Corporate debt securities 44,252 — (157) 44,095 — 44,095 U.S. treasury securities 4,988 — (5) 4,983 — 4,983 U.S. government agency securities 3,209 — (5) 3,204 — 3,204 Total level 2 126,920 — (253) 126,667 7,955 118,712 Total $ 127,901 $ — $ (253) $ 127,648 $ 8,936 $ 118,712 The Company held no marketable securities as of December 31, 2022. The Company primarily invests in current marketable debt securities with a maximum weighted average duration of up to twelve months. As of September 30, 2023, the fair value of non-current marketable debt securities with a maturity beyond twelve months from the end of the period was $10,252, which are included within long-term marketable securities in the consolidated balance sheet. The remainder of the marketable securities are classified as current. Fair values were determined using market prices from third-party pricing sources. For marketable securities with unrealized loss positions, the Company does not intend to sell these securities and it is more likely than not that the Company will hold these securities until maturity or a recovery of the cost basis and they are therefore all categorized as available for sale. No allowance for credit losses was recorded for these securities as of September 30, 2023. Investments - Held-to-maturity debt securities As of September 30, 2023, the Company’s debt security investment consists of redeemable preferred shares that are accounted for as a held-to-maturity investment, with a contractual maturity in 2026. The Company’s investment is measured at amortized cost within investments in the condensed consolidated balance sheets. The Company reviews its held-to-maturity securities for expected credit losses under ASC Topic 326, Credit Impairment , on an ongoing basis. During the three and nine months ended September 30, 2023 and 2022, the Company’s review of the investee’s operations and financial position indicated that an adjustment to its allowance for expected credit losses was necessary. A roll forward of the Company’s allowance for expected credit losses on held-to-maturity investments is as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Beginning allowance for expected credit losses $ 15,052 $ 15,617 $ 14,957 $ 17,462 (Gain) loss on adjustment of allowance for expected credit losses (101) 273 (6) (1,572) Write-offs, net of recoveries — — — — Ending allowance for expected credit losses $ 14,951 $ 15,890 $ 14,951 $ 15,890 The amortized cost, including accrued dividends, of the Company’s held-to-maturity debt security investments was $29,767 and $28,277 and the allowance for expected credit losses was $14,951 and $14,957, as of September 30, 2023 and December 31, 2022, respectively. During the three months ended September 30, 2023 and 2022, the Company recognized dividend income of $511 and $477, respectively, and during the nine months ended September 30, 2023 and 2022, of $1,490 and $1,391, respectively, within other income on the consolidated statements of operations. Equity method investments On April 9, 2021, the Company acquired a 21% ownership interest in Bravo Fit Holdings Pty Ltd, the Company’s franchisee and store operator in Australia, which is deemed to be a related party, for $10,000. In the fourth quarter of 2022, the Company invested an additional $2,449 in Bravo Fit Holdings Pty Ltd. Following such additional investment, the Company’s ownership remained at 21%. For the three months ended September 30, 2023 and 2022, the Company’s proportionate share of the earnings in accordance with the equity method was a loss of $94 and $2, respectively, and for the nine months ended September 30, 2023 and 2022, the Company’s proportionate share of the earnings was a loss of $432 and $334, respectively, recorded within equity earnings of unconsolidated entities on the condensed consolidated statement of operations. The adjusted carrying value of the equity method investment was $11,370 and $11,802 as of September 30, 2023 and December 31, 2022, respectively. On June 23, 2023, the Company acquired a 12.5% ownership interest for $10,000 in Planet Fitmex, LLC, which is classified as an equity method investment as a result of its organizational structure. In August 2023, the Company invested an additional $10,000 in Planet Fitmex, LLC. Following such additional investment, the Company’s ownership stake increased to 22.2% with a total investment of $20,000. Planet Fitmex, LLC, is a franchisee of the Company, store operator in Mexico, and is deemed to be a related party. For both the three and nine months ended September 30, 2023, the Company’s proportionate share of the earnings was a loss of $148 recorded within equity earnings of unconsolidated entities on the condensed consolidated statement of operations. The adjusted carrying value of the equity method investment was $19,852 as of September 30, 2023. Subsequent to quarter end, in November 2023, the Company invested an additional $15,596 in Planet Fitmex, LLC, and following such additional investment, the Company’s ownership stake increased to 25.2%.

Acquisitions

Acquisitions	9 Months Ended
Acquisitions	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Sunshine Fitness acquisition On February 10, 2022, the Company and Pla-Fit Holdings (together with the Company, the “Buyers”), acquired 100% of the equity interests (“Sunshine Acquisition”) of Sunshine Fitness Growth Holdings, LLC, a Delaware limited liability company and Planet Fitness franchisee (“Sunshine Fitness”). The Company acquired 114 stores in Alabama, Florida, Georgia, North Carolina, and South Carolina from Sunshine Fitness. The following pro forma financial information for the nine months ended September 30, 2022 summarizes the combined results of operations for the Company and Sunshine Fitness, as though the companies were combined as of the beginning of 2021. The three and nine months ended September 30, 2023 and the three months ended September 30, 2022 total revenues, income before taxes, and net income are included within the condensed consolidated statements of operations. For the nine months ended September 30, 2022 Total revenues $ 675,954 Income before taxes 110,246 Net income 74,008 Florida acquisition On April 16, 2023, the Company purchased from one of its franchisees a majority of the assets associated with four franchisee stores operating in Florida (the “Florida Acquisition”) for approximately $26,264. As a result of the transaction, the Company incurred a loss on unfavorable reacquired franchise rights of $110, which is included in other losses (gains), net on the condensed consolidated statement of operations. The loss incurred reduced the net purchase price to $26,154. The Company financed the purchase through cash on hand. The acquired stores are included in the Corporate-owned stores segment. The preliminary allocation of the purchase consideration was as follows: Amount Property and equipment $ 3,851 Right of use assets 5,424 Other long-term assets 95 Intangible assets 6,880 Goodwill 14,812 Deferred revenue (687) Other current liabilities (17) Lease liabilities (4,204) Total $ 26,154 The goodwill created through the purchase is attributable to the assumed future value of the cash flows from the stores acquired. The goodwill is amortizable and deductible for tax purposes over 15 years. The following table sets forth the components of identifiable intangible assets acquired in the Florida Acquisition and their estimated useful lives as of the date of the acquisition: Preliminary Fair Value Preliminary Useful Life Reacquired franchise rights (1) $ 6,650 6.8 Customer relationships (2) 230 6.0 Total intangible assets subject to amortization $ 6,880 (1) Reacquired franchise rights represent the fair value of the reacquired franchise agreements using the income approach, specifically, the multi-period excess earnings method. (2) Customer relationships represent the fair value of the existing contractual customer relationships using the income approach, specifically, the multi-period excess earnings method. The acquisition did not have a material effect on the results of operations of the Company. Certain estimated values for the Florida Acquisition, including goodwill and intangible assets, are not yet finalized and are subject to revision as additional information becomes available and more detailed analyses are completed.

Sale of corporate-owned stores

Sale of corporate-owned stores	9 Months Ended
Sale of corporate-owned stores	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Sale of corporate-owned stores	Sale of corporate-owned storesOn August 31, 2022, the Company sold 6 corporate-owned stores located in Colorado to a franchisee for $20,820. The net value of assets derecognized in connection with the sale amounted to $19,496, which included goodwill of $14,423, intangible assets of $2,629, and net tangible assets of $2,444, which resulted in a gain on sale of corporate-owned stores of $1,324 during the three months ended September 30, 2022.

Goodwill and intangible assets

Goodwill and intangible assets	9 Months Ended
Goodwill and intangible assets	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangible assets	Goodwill and intangible assets A summary of goodwill and intangible assets at September 30, 2023 and December 31, 2022 is as follows: September 30, 2023 Gross Accumulated Net carrying Customer relationships $ 199,043 $ (165,174) $ 33,869 Reacquired franchise and area development rights 274,708 (69,715) 204,993 473,751 (234,889) 238,862 Indefinite-lived intangible: Trade and brand names 146,600 — 146,600 Total intangible assets $ 620,351 $ (234,889) $ 385,462 Goodwill $ 717,502 $ — $ 717,502 December 31, 2022 Gross Accumulated Net carrying Customer relationships $ 198,813 $ (153,243) $ 45,570 Reacquired franchise and area development rights 268,058 (43,161) 224,897 466,871 (196,404) 270,467 Indefinite-lived intangible: Trade and brand names 146,600 — 146,600 Total intangible assets $ 613,471 $ (196,404) $ 417,067 Goodwill $ 702,690 $ — $ 702,690 A roll forward of goodwill between December 31, 2022 and September 30, 2023 is as follows: Franchise Corporate-owned stores Equipment Total As of December 31, 2022 $ 16,938 $ 593,086 $ 92,666 $ 702,690 Acquisition of franchisee-owned stores — 14,812 — 14,812 As of September 30, 2023 $ 16,938 $ 607,898 $ 92,666 $ 717,502 The Company determined that no impairment charges were required during any periods presented. Amortization expense related to the intangible assets totaled $12,965 and $10,611 for the three months ended September 30, 2023 and 2022, respectively, and $38,517 and $29,644 for the nine months ended September 30, 2023 and 2022, respectively. The anticipated annual amortization expense related to intangible assets to be recognized in future years as of September 30, 2023 is as follows: Amount Remainder of 2023 $ 12,954 2024 49,190 2025 36,713 2026 32,079 2027 27,956 Thereafter 79,970 Total $ 238,862

Long-term debt

Long-term debt	9 Months Ended
Long-term debt	Sep. 30, 2023
Debt Disclosure [Abstract]
Long-term debt	Long-term debt Long-term debt as of September 30, 2023 and December 31, 2022 consists of the following: September 30, 2023 December 31, 2022 2018-1 Class A-2-II notes $ 593,750 $ 598,438 2019-1 Class A-2 notes 529,375 533,500 2022-1 Class A-2-I notes 418,625 421,812 2022-1 Class A-2-II notes 467,875 471,437 Total debt, excluding deferred financing costs 2,009,625 2,025,187 Deferred financing costs, net of accumulated amortization (22,193) (26,306) Total debt 1,987,432 1,998,881 Current portion of long-term debt 20,750 20,750 Long-term debt, net of current portion $ 1,966,682 $ 1,978,131 Future annual principal payments of long-term debt as of September 30, 2023 are as follows: Amount Remainder of 2023 $ 5,188 2024 20,750 2025 600,438 2026 419,312 2027 10,250 Thereafter 953,687 Total $ 2,009,625 On August 1, 2018, Planet Fitness Master Issuer LLC (the “Master Issuer”), a limited-purpose, bankruptcy remote, wholly-owned indirect subsidiary of Pla-Fit Holdings, LLC, entered into a base indenture and a related supplemental indenture (collectively, the “2018 Indenture”) under which the Master Issuer may issue multiple series of notes. On the same date, the Master Issuer issued Series 2018-1 4.262% Fixed Rate Senior Secured Notes, Class A-2-I (the “2018 Class A-2-I Notes”) with an initial principal amount of $575,000 and Series 2018-1 4.666% Fixed Rate Senior Secured Notes, Class A-2-II (the “2018 Class A-2-II Notes” and, together with the 2018 Class A-2-I Notes, the “2018 Notes”) with an initial principal amount of $625,000. In connection with the issuance of the 2018 Notes, the Master Issuer also entered into a revolving financing facility that allows for the incurrence of up to $75,000 in revolving loans and/or certain letters of credit (the “Letters of Credit”) under the Master Issuer’s Series 2018-1 Variable Funding Senior Notes, Class A-1 (the “2018 Variable Funding Notes”). The Company fully drew down on the 2018 Variable Funding Notes on March 20, 2020. On December 3, 2019, the Master Issuer issued Series 2019-1 3.858% Fixed Rate Senior Secured Notes, Class A-2 (the “2019 Notes” and, together with the 2018 Notes, the “Notes”) with an initial principal amount of $550,000. The 2019 Notes were issued under the 2018 Indenture and a related supplemental indenture dated December 3, 2019 (together, the “2019 Indenture”). On February 10, 2022, the Company completed a prepayment in full of its 2018 Class A-2-I Notes and an issuance of Series 2022-1 3.251% Fixed Rate Senior Secured Notes, Class A-2-I with an initial principal amount of $425,000 and Series 2022-1 4.008% Fixed Rate Senior Secured Notes, Class A-2-II with an initial principal amount of $475,000 (the “2022 Notes” and, together with the 2018 Notes and 2019 Notes, the “Notes”), and also entered into a new revolving financing facility that allows for the issuance of up to $75,000 in Variable Funding Notes (“2022 Variable Funding Notes”) and certain Letters of Credit (the issuance of such notes, the “Series 2022-I Issuance”). The 2022 Notes were issued under the 2018 Indenture and a related supplemental indenture dated February 10, 2022 (together, with the 2019 Indenture, the “Indenture”). Together, the Notes, 2018 Variable Funding Notes and 2022 Variable Funding Notes will be referred to as the “Securitized Senior Notes”. On February 10, 2022, the Company borrowed the full amount of the $75,000 2022 Variable Funding Notes and used such proceeds to repay the outstanding principal amount (together with all accrued and unpaid interest thereon) of the 2018 Variable Funding Notes in full. On May 9, 2022, the Company repaid in full its $75,000 of borrowings under the 2022 Variable Funding Notes using cash on hand. The Notes were issued in securitization transactions pursuant to which most of the Company’s domestic revenue-generating assets, consisting principally of franchise-related agreements, certain corporate-owned store assets, equipment supply agreements and intellectual property and license agreements for the use of intellectual property, were assigned to the Master Issuer and certain other limited-purpose, bankruptcy remote, wholly-owned indirect subsidiaries of the Company that act as guarantors of the Securitized Senior Notes and that have pledged substantially all of their assets to secure the Securitized Senior Notes. Interest and principal payments on the Notes are payable on a quarterly basis. The requirement to make such quarterly principal payments on the Notes is subject to certain financial conditions set forth in the Indenture. The legal final maturity date of the 2018 Class A-2-II Notes is in September 2048, but it is anticipated that, unless earlier prepaid to the extent permitted under the Indenture, the 2018 Class A-2-II Notes will be repaid in or prior to September 2025. The legal final maturity date of the 2019 Notes is in December 2049, but it is anticipated that, unless earlier prepaid to the extent permitted under the Indenture, the 2019 Notes will be repaid in or prior to December 2029. The legal final maturity date of the 2022 Notes is in February 2052, but it is anticipated that, unless earlier prepaid to the extent permitted under the Indenture, the 2022 Class A-2-I Notes will be repaid in or prior to December 2026 and the 2022 Class A-2-II Notes will be repaid in or prior to December 2031 (together, the “Anticipated Repayment Dates”). If the Master Issuer has not repaid or refinanced the Notes prior to the respective Anticipated Repayment Dates, additional interest will accrue pursuant to the Indenture. As noted above, the Company borrowed the full $75,000 in 2022 Variable Funding Notes on February 10, 2022, which was repaid in full using cash on hand on May 9, 2022. If outstanding, the 2022 Variable Funding Notes will accrue interest at a variable interest rate based on (i) the prime rate, (ii) overnight federal funds rates, (iii) the secured overnight financing rate for U.S. Dollars, or (iv) with respect to advances made by conduit investors, the weighted average cost of, or related to, the issuance of commercial paper allocated to fund or maintain such advances, in each case plus any applicable margin and as specified in the 2022 Variable Funding Notes. There is a commitment fee on the unused portion of the 2022 Variable Funding Notes of 0.5% based on utilization. It is anticipated that the principal and interest on the 2022 Variable Funding Notes, if any, will be repaid in full on or prior to December 2026, subject to two additional one-year extension options. Following the anticipated repayment date (and any extensions thereof), additional interest will accrue on the 2022 Variable Funding Notes equal to 5.0% per year. In connection with the issuance of the 2018 Notes, 2019 Notes, and 2022 Notes, the Company incurred debt issuance costs of $27,133, $10,577, and $16,193 respectively. The debt issuance costs are being amortized to interest expense through the Anticipated Repayment Dates of the Notes utilizing the effective interest rate method. As a result of the repayment of the 2018 Class A-2-I Notes prior to the Anticipated Repayment Date, the Company recorded a loss on early extinguishment of debt of $1,583 within interest expense on the Consolidated statements of operations during the nine months ended September 30, 2022, consisting of the write-off of remaining unamortized deferred financing costs related to the issuance of the 2018 Class A-2-I Notes. The Securitized Senior Notes are subject to covenants and restrictions customary for transactions of this type, including (i) that the Master Issuer maintains specified reserve accounts to be used to make required payments in respect of the Securitized Senior Notes, (ii) provisions relating to optional and mandatory prepayments and the related payment of specified amounts, including specified make-whole payments in the case of the Notes under certain circumstances, (iii) certain indemnification payments in the event, among other things, the assets pledged as collateral for the Securitized Senior Notes are in stated ways defective or ineffective, (iv) a cap on non-securitized indebtedness of $50,000 (provided that the Company may incur non-securitized indebtedness in excess of such amount, subject to the leverage ratio cap described below, under certain conditions, including if the relevant lenders execute a non-disturbance agreement that acknowledges the bankruptcy-remote status of the Master Issuer and its subsidiaries and of their respective assets), (v) a leverage ratio cap incurrence test on the Company of 7.0x (calculated without regard for any indebtedness subject to the $50,000 cap) and (vi) covenants relating to recordkeeping, access to information and similar matters. Pursuant to a parent company support agreement, the Company has agreed to cause its subsidiary to perform each of its obligations (including any indemnity obligations) and duties under the Management Agreement and under the contribution agreements entered into in connection with the securitized financing facility, in each case as and when due. To the extent that such subsidiary has not performed any such obligation or duty within the prescribed time frame after such obligation or duty was required to be performed, the Company has agreed to either (i) perform such obligation or duty or (ii) cause such obligations or duties to be performed on the Company’s behalf. The Securitized Senior Notes are also subject to customary rapid amortization events provided for in the Indenture, including events tied to failure to maintain stated debt service coverage ratios, certain manager termination events, an event of default, and the failure to repay or refinance the Notes on the applicable scheduled Anticipated Repayment Dates. The Securitized Senior Notes are also subject to certain customary events of default, including events relating to non-payment of required interest, principal, or other amounts due on or with respect to the Securitized Senior Notes, failure to comply with covenants within certain time frames, certain bankruptcy events, breaches of specified representations and warranties, failure of security interests to be effective, and certain judgments. In accordance with the Indenture, certain cash accounts have been established with the Indenture trustee (the “Trustee”) for the benefit of the trustee and the noteholders, and are restricted in their use. The Company holds restricted cash which primarily represents cash collections held by the Trustee, interest, principal, and commitment fee reserves held by the Trustee related to the Securitized Senior Notes. As of September 30, 2023, the Company had restricted cash held by the Trustee of $46,381.

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2023
Leases [Abstract]
Leases	Leases Leases Classification September 30, 2023 December 31, 2022 Assets Operating lease ROU assets Right of use asset, net $ 381,819 $ 346,937 Finance lease assets Property and equipment, net 219 370 Total lease assets $ 382,038 $ 347,307 Liabilities Current: Operating Other current liabilities $ 33,589 $ 33,233 Financing Other current liabilities 140 38 Noncurrent: Operating Lease liabilities, net of current portion 379,810 341,843 Financing Other liabilities 88 342 Total lease liabilities $ 413,627 $ 375,456 Weighted-average remaining lease term (years) - operating leases 8.1 8.1 Weighted-average discount rate - operating leases 5.2 % 4.7 % During the three and nine months ended September 30, 2023 and 2022, the components of lease cost were as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Operating lease cost $ 16,467 $ 14,677 $ 47,154 $ 41,411 Variable lease cost 5,917 5,691 16,936 15,415 Total lease cost $ 22,384 $ 20,368 $ 64,090 $ 56,826 The Company’s costs related to short-term leases, those with a duration between one and twelve months, were immaterial. Supplemental disclosures of cash flow information related to leases were as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Cash paid for lease liabilities $ 13,877 $ 14,172 $ 41,985 $ 40,405 Operating lease ROU assets obtained in exchange for operating lease liabilities, excluding acquisitions $ 38,683 $ 6,073 $ 59,410 $ 29,234 Operating lease ROU assets obtained in exchange for operating lease liabilities through acquisitions $ — $ — $ 4,204 $ 162,827 As of September 30, 2023, maturities of lease liabilities were as follows: Amount Remainder of 2023 $ 9,506 2024 60,149 2025 68,800 2026 69,264 2027 66,584 Thereafter 242,152 Total lease payments $ 516,455 Less: imputed interest 102,828 Present value of lease liabilities $ 413,627 As of September 30, 2023, future operating lease payments exclude approximately $29,938 of legally binding minimum lease payments for leases signed but not yet commenced.
Leases	Leases Leases Classification September 30, 2023 December 31, 2022 Assets Operating lease ROU assets Right of use asset, net $ 381,819 $ 346,937 Finance lease assets Property and equipment, net 219 370 Total lease assets $ 382,038 $ 347,307 Liabilities Current: Operating Other current liabilities $ 33,589 $ 33,233 Financing Other current liabilities 140 38 Noncurrent: Operating Lease liabilities, net of current portion 379,810 341,843 Financing Other liabilities 88 342 Total lease liabilities $ 413,627 $ 375,456 Weighted-average remaining lease term (years) - operating leases 8.1 8.1 Weighted-average discount rate - operating leases 5.2 % 4.7 % During the three and nine months ended September 30, 2023 and 2022, the components of lease cost were as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Operating lease cost $ 16,467 $ 14,677 $ 47,154 $ 41,411 Variable lease cost 5,917 5,691 16,936 15,415 Total lease cost $ 22,384 $ 20,368 $ 64,090 $ 56,826 The Company’s costs related to short-term leases, those with a duration between one and twelve months, were immaterial. Supplemental disclosures of cash flow information related to leases were as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Cash paid for lease liabilities $ 13,877 $ 14,172 $ 41,985 $ 40,405 Operating lease ROU assets obtained in exchange for operating lease liabilities, excluding acquisitions $ 38,683 $ 6,073 $ 59,410 $ 29,234 Operating lease ROU assets obtained in exchange for operating lease liabilities through acquisitions $ — $ — $ 4,204 $ 162,827 As of September 30, 2023, maturities of lease liabilities were as follows: Amount Remainder of 2023 $ 9,506 2024 60,149 2025 68,800 2026 69,264 2027 66,584 Thereafter 242,152 Total lease payments $ 516,455 Less: imputed interest 102,828 Present value of lease liabilities $ 413,627 As of September 30, 2023, future operating lease payments exclude approximately $29,938 of legally binding minimum lease payments for leases signed but not yet commenced.

Revenue recognition

Revenue recognition	9 Months Ended
Revenue recognition	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue recognition	Revenue recognition Contract Liabilities Contract liabilities consist primarily of deferred revenue resulting from initial and renewal franchise fees and area development agreement (“ADA”) fees paid by franchisees, as well as transfer fees, which are generally recognized on a straight-line basis over the term of the underlying franchise agreement, and national advertising fund (“NAF”) revenue billed in advance of satisfaction of the Company’s performance obligation. Also included are corporate-owned store enrollment fees, annual fees and monthly fees as well as deferred equipment rebates relating to its equipment business. The Company classifies these contract liabilities as deferred revenue in its condensed consolidated balance sheets. The following table reflects the change in contract liabilities between December 31, 2022 and September 30, 2023: Contract liabilities Balance at December 31, 2022 $ 86,911 Revenue recognized that was included in the contract liability at the beginning of the year (50,443) Increase, excluding amounts recognized as revenue during the period 60,554 Balance at September 30, 2023 $ 97,022 The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of September 30, 2023. The Company has elected to exclude short-term contracts, sales and usage-based royalties and any other variable consideration recognized on an “as invoiced” basis. Contract liabilities to be recognized in: Amount Remainder of 2023 $ 40,424 2024 25,559 2025 4,967 2026 3,894 2027 3,417 Thereafter 18,761 Total $ 97,022 Equipment deposits received in advance of delivery as of September 30, 2023 and December 31, 2022 were $13,933 and $8,443, respectively, and are expected to be recognized as revenue in the next twelve months.

Related party transactions

Related party transactions	9 Months Ended
Related party transactions	Sep. 30, 2023
Related Party Transactions [Abstract]
Related party transactions	Related party transactions Activity with franchisees considered to be related parties is summarized below: For the three months ended For the nine months ended 2023 2022 2023 2022 Franchise revenue - interim CEO $ 958 $ 729 $ 2,882 $ 2,461 Franchise revenue - other 656 233 1,206 434 Equipment revenue - interim CEO 1,294 1,648 2,305 1,661 Equipment revenue - other 1,641 — 1,641 — Total revenue from related parties $ 4,549 $ 2,610 $ 8,034 $ 4,556 Additionally, the Company had deferred ADA and franchise agreement revenue of $722 and $467 as of September 30, 2023 and December 31, 2022, respectively. Of this amount $146 and $138 is from a franchisee in which the Company’s interim CEO has a financial interest. As of September 30, 2023 and December 31, 2022, the Company had $81,687 and $80,717, respectively, payable to related parties pursuant to tax benefit arrangements, see Note 13. The Company provides administrative services to the NAF and typically charges the NAF a fee for providing these services. The services provided include accounting, information technology, data processing, product development, legal and administrative support, and other operating expenses, which amounted to $893 and $651 for the three months ended September 30, 2023 and 2022, respectively, and $2,679 and $1,955 for the nine months ended September 30, 2023 and 2022, respectively. For the three months ended September 30, 2023 and 2022, the Company incurred approximately $63 and $71, respectively, and $427 and $246 for the nine months ended September 30, 2023 and 2022, respectively, which is included within selling, general and administrative expense on the condensed consolidated statements of operations, for corporate travel to a third-party company which is affiliated with the former Chief Executive Officer. A member of the Company’s board of directors, who is also the Company’s interim Chief Executive Officer and a franchisee, holds an approximate 10.5% ownership of a company that sells amenity tracking compliance software to Planet Fitness stores to which the Company made payments of approximately $101 and $109, during the three months ended September 30, 2023 and 2022, respectively, and $270 and $198 during the nine months ended September 30, 2023 and 2022.

Stockholders' equity

Stockholders' equity	9 Months Ended
Stockholders' equity	Sep. 30, 2023
Equity [Abstract]
Stockholders' equity	Stockholders’ equity Pursuant to the exchange agreement between the Company and the Continuing LLC Owners, the Continuing LLC Owners (or certain permitted transferees thereof) have the right, from time to time and subject to the terms of the exchange agreement, to exchange their Holdings Units, along with a corresponding number of shares of Class B common stock, for shares of Class A common stock (or cash at the option of the Company) on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends, reclassifications and similar transactions. In connection with any exchange of Holdings Units for shares of Class A common stock by a Continuing LLC Owner, the number of Holdings Units held by the Company is correspondingly increased as it acquires the exchanged Holdings Units, and a corresponding number of shares of Class B common stock are canceled. During the nine months ended September 30, 2022, in connection with the Sunshine Acquisition, the Company issued 517,348 shares of Class A Common Stock and 3,637,678 membership units of Pla-Fit Holdings, LLC, together with shares of Class B Common Stock. See Note 4. During the three and nine months ended September 30, 2023, respectively, certain existing holders of Holdings Units exercised their exchange rights and exchanged 1,417,603 and 3,412,312 Holdings Units for 1,417,603 and 3,412,312 newly-issued shares of Class A common stock. Simultaneously, and in connection with these exchanges, 1,417,603 and 3,412,312 shares of Class B common stock were surrendered by the holders of Holdings Units that exercised their exchange rights and canceled. Additionally, in connection with these exchanges, Planet Fitness, Inc. received 1,417,603 and 3,412,312 Holdings Units, increasing its total ownership interest in Pla-Fit Holdings. As a result of the above transactions, as of September 30, 2023: • Holders of Class A common stock owned 85,410,391 shares of Class A common stock, representing 96.9% of the voting power in the Company and, through the Company, 85,410,391 Holdings Units representing 96.9% of the economic interest in Pla-Fit Holdings; and • the Continuing LLC Owners collectively owned 2,733,410 Holdings Units, representing 3.1% of the economic interest in Pla-Fit Holdings, and 2,733,410 shares of Class B common stock, representing 3.1% of the voting power in the Company. Share repurchase program 2022 share repurchase program On November 4, 2022, the Company’s board of directors approved a share repurchase program of up to $500,000, which replaced the 2019 share repurchase program. During the nine months ended September 30, 2023, the Company repurchased 1,698,753 shares of Class A common stock for a total cost of $125,030. A one percent share repurchase excise tax of $1,048 was also incurred as a result of new legislation that went into effect beginning in 2023. All repurchased shares were retired. Subsequent to these repurchases, there is $374,970 remaining under the 2022 share repurchase program. The timing of purchases and amount of stock repurchased are subject to the Company’s discretion and dependent upon market and business conditions, the Company’s general working capital needs, stock price, applicable legal requirements and other factors. The ability to repurchase shares at any particular time is also subject to the terms of the Indenture governing the Securitized Senior Notes. Purchases may be effected through one or more open market transactions, privately negotiated transactions, transactions structured through investment banking institutions, or a combination of the foregoing. Preferred stock The Company had 50,000,000 shares of preferred stock authorized and none issued or outstanding as of September 30, 2023 and December 31, 2022.

Earnings per share

Earnings per share	9 Months Ended
Earnings per share	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings per share	Earnings per share Basic earnings per share of Class A common stock is computed by dividing net income attributable to Planet Fitness, Inc. by the weighted-average number of shares of Class A common stock outstanding during the same period. Diluted earnings per share of Class A common stock is computed by dividing net income attributable to Planet Fitness, Inc. by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities. Shares of the Company’s Class B common stock do not share in the earnings or losses attributable to Planet Fitness, Inc. and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class B common stock under the two-class method has not been presented. Shares of the Company’s Class B common stock are, however, considered potentially dilutive shares of Class A common stock because shares of Class B common stock, together with the related Holdings Units, are exchangeable into shares of Class A common stock on a one-for-one basis. The following table sets forth reconciliations used to compute basic and diluted earnings per share of Class A common stock: Three months ended Nine months ended 2023 2022 2023 2022 Numerator Net income $ 41,324 $ 30,677 $ 110,272 $ 74,124 Less: net income attributable to non-controlling interests 2,190 3,764 7,299 8,405 Net income attributable to Planet Fitness, Inc. $ 39,134 $ 26,913 $ 102,973 $ 65,719 Denominator Weighted-average shares of Class A common stock outstanding - basic 84,609,522 84,156,488 84,557,902 84,377,324 Effect of dilutive securities: Stock options 212,953 338,981 239,709 357,315 Restricted stock units 48,282 50,854 64,347 62,050 Performance stock units 15,562 290 8,354 1,235 Weighted-average shares of Class A common stock outstanding - diluted 84,886,319 84,546,613 84,870,312 84,797,924 Earnings per share of Class A common stock - basic $ 0.46 $ 0.32 $ 1.22 $ 0.78 Earnings per share of Class A common stock - diluted $ 0.46 $ 0.32 $ 1.21 $ 0.78 Weighted average shares of Class B common stock of 3,533,885 and 6,145,722 for the three months ended September 30, 2023 and 2022, respectively, and 4,236,271 and 5,773,562 for the nine months ended September 30, 2023 and 2022, respectively, were evaluated under the if-converted method for potential dilutive effects and were determined to be anti-dilutive. Weighted average stock options outstanding of 307,606 and 258,093 for the three months ended September 30, 2023 and 2022, respectively, and 250,595 and 243,507 for the nine months ended September 30, 2023 and 2022, were evaluated under the treasury stock method for potential dilutive effects and were determined to be anti-dilutive. Weighted average restricted stock units outstanding of 968 and 705 for the three months ended September 30, 2023 and 2022, respectively, and 5,684 and 323 for the nine months ended September 30, 2023 and 2022, respectively, were evaluated under the treasury stock method for potential dilutive effects and were determined to be anti-dilutive. Weighted average performance stock units outstanding of 36,717 and 1,058 for the three months ended September 30, 2023 and 2022, respectively, and 1,981 and 281 for the nine months ended September 30, 2023 and 2022, respectively, were evaluated under the treasury stock method for potential dilutive effects and were determined to be anti-dilutive.

Income taxes

Income taxes	9 Months Ended
Income taxes	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The Company is the sole managing member of Pla-Fit Holdings, which is treated as a partnership for U.S. federal and certain state and local income taxes. As a partnership, Pla-Fit Holdings is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by Pla-Fit Holdings is passed through to and included in the taxable income or loss of its members, including the Company, on a pro-rata basis. Planet Fitness, Inc. is subject to U.S. federal income taxes, in addition to state and local income taxes with respect to the allocable share of any taxable income of Pla-Fit Holdings. The Company’s effective tax rate was 24.5% and 33.8% for the three months ended September 30, 2023 and 2022, respectively. The effective tax rate for the three months ended September 30, 2023 differed from the U.S. federal statutory rate of 21% primarily due to state and local taxes, partially offset by income attributable to non-controlling interests. The Company’s effective tax rate was 26.0% and 32.6% for the nine months ended September 30, 2023 and 2022, respectively. The effective tax rate for the nine months ended September 30, 2023 differed from the U.S. federal statutory rate of 21% primarily due to state and local taxes, partially offset by income attributable to non-controlling interests. The Company was also subject to taxes in foreign jurisdictions. Net deferred tax assets of $491,568 and $453,094 as of September 30, 2023 and December 31, 2022, respectively, relate primarily to the tax effects of temporary differences in the book basis as compared to the tax basis of the investment in Pla-Fit Holdings as a result of the secondary offerings, other exchanges, recapitalization transactions and the IPO. As of September 30, 2023 and December 31, 2022, the total liability related to uncertain tax positions was $328 and $328, respectively. The Company recognizes accrued interest and penalties, if applicable, related to unrecognized tax benefits in income tax expense. Interest and penalties for the three and nine months ended September 30, 2023 and 2022 were not material. Tax benefit arrangements The Company’s acquisition of Holdings Units in connection with the IPO and future and certain past exchanges of Holdings Units for shares of the Company’s Class A common stock (or cash at the option of the Company) are expected to produce and have produced favorable tax attributes. In connection with the IPO, the Company entered into two tax receivable agreements. Under the first of those agreements, the Company generally is required to pay to certain existing and previous equity owners of Pla-Fit Holdings (the “TRA Holders”) 85% of the applicable tax savings, if any, in U.S. federal and state income tax that the Company is deemed to realize as a result of certain tax attributes of their Holdings Units sold to the Company (or exchanged in a taxable sale) and that are created as a result of (i) the exchanges of their Holdings Units for shares of Class A common stock and (ii) tax benefits attributable to payments made under the tax receivable agreement (including imputed interest). Under the second tax receivable agreement, the Company generally is required to pay to TSG AIV II-A L.P and TSG PF Co-Investors A L.P. (the “Direct TSG Investors”) 85% of the amount of tax savings, if any, that the Company is deemed to realize as a result of the tax attributes of the Holdings Units held in respect of the Direct TSG Investors’ interest in the Company, which resulted from the Direct TSG Investors’ purchase of interests in Pla-Fit Holdings in 2012, and certain other tax benefits. Under both agreements, the Company generally retains the benefit of the remaining 15% of the applicable tax savings. As of September 30, 2023 and December 31, 2022, the Company had a liability of $489,762 and $494,465, respectively, related to its projected obligations under the tax benefit arrangements. Projected future payments under the tax benefit arrangements are as follows: Amount Remainder of 2023 $ 11,129 2024 38,397 2025 47,379 2026 49,868 2027 52,515 Thereafter 290,474 Total $ 489,762 During the three and nine months ended September 30, 2023, 1,417,603 and 3,412,312 Holdings Units, respectively, were exchanged for newly issued shares of Class A common stock, resulting in an increase in the tax basis of the net assets of Pla-Fit Holdings. As a result of the change in Planet Fitness, Inc.’s ownership percentage of Pla-Fit Holdings, the Company recorded a $1,704 and $4,358 decrease to net deferred tax assets during the three and nine months ended September 30, 2023, respectively. As a result of these exchanges, during the three and nine months ended September 30, 2023, the Company also recognized deferred tax assets in the amount of $24,999 and $77,730, respectively, as a result of the increase in tax basis. A portion of these exchanges were not made by TRA Holders, which did not result in an increase in the tax benefit arrangement liability. Of the exchanges that were made by TRA Holders, they resulted in an increase in the tax benefit arrangement liability of $14,762 and $17,077 in the three and nine months ended September 30, 2023, respectively. The offset to the entries recorded in connection with exchanges was to additional paid in capital within stockholders’ deficit.

Commitments and contingencies

Commitments and contingencies	9 Months Ended
Commitments and contingencies	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies From time to time, and in the ordinary course of business, the Company is subject to various claims, charges, and litigation, such as employment-related claims and slip and fall cases. On May 27, 2022, the Company and other defendants, including an officer of the Company who is a related party, received a final judgment after appeal to the joint and several judgment against them in a civil action brought by a former employee. In connection with the 2012 acquisition of Pla-Fit Holdings on November 8, 2012, the sellers are obligated to indemnify the Company related to this specific matter. The Company has incurred legal costs on behalf of the defendants in the case, which include a related party. These costs have historically not been material. During the fourth quarter of 2022, the Company and other defendants, as applicable, paid the final judgment in full, of which the Company paid $3,414. Mexico Acquisition On March 19, 2020, a franchisee in Mexico exercised a put option that requires the Company to acquire their franchisee-owned stores in Mexico. In February 2023, the Company and the franchisee agreed on a summary of terms for a settlement agreement (“Preliminary Settlement Agreement”), which will include the Company’s acquisition of the franchisee-owned stores and a release of all claims by all parties. In connection with the Preliminary Settlement Agreement, the Company recorded an estimated liability for the legal settlement of $8,550 as of December 31, 2022, inclusive of estimated future legal fees, through other loss on the statement of operations. The Company revised its estimate of the legal settlement and recorded an increase to the liability of $6,250 during the nine months ended September 30, 2023. The remaining liability as of September 30, 2023 is $14,500, after utilization of the accrual for estimated legal fees during 2023. Subsequent to quarter end, on October 20, 2023, the Company finalized its settlement with the franchisee in Mexico for $31,619, which included the acquisition by the Company of five stores in Mexico and the settlement of all claims. The Company is not currently aware of any other legal proceedings or claims that the Company believes will have, individually or in the aggregate, a material adverse effect on the Company’s financial position or result of operations.

Segments

Segments	9 Months Ended
Segments	Sep. 30, 2023
Segment Reporting [Abstract]
Segments	Segments The Company has three reportable segments: (i) Franchise; (ii) Corporate-owned stores; and (iii) Equipment. The Company’s operations are organized and managed by type of products and services and segment information is reported accordingly. The Company’s chief operating decision maker (the “CODM”) is its interim Chief Executive Officer. The CODM reviews financial performance and allocates resources by reportable segment. There have been no operating segments aggregated to arrive at the Company’s reportable segments. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, Canada, Panama, Mexico and Australia, including revenues and expenses from the NAF. The Corporate-owned stores segment includes operations with respect to all corporate-owned stores throughout the United States and Canada. The Equipment segment primarily includes the sale of equipment to franchisee-owned stores. The accounting policies of the reportable segments are the same as those described in Note 2. The Company evaluates the performance of its segments and allocates resources to them based on revenue and earnings before interest, taxes, depreciation, and amortization, referred to as Segment EBITDA. Revenues for all operating segments include only transactions with unaffiliated customers and include no intersegment revenues. The tables below summarize the financial information for the Company’s reportable segments for the three and nine months ended September 30, 2023 and 2022. The “Corporate and other” category, as it relates to Segment EBITDA, primarily includes corporate overhead costs, such as payroll and related benefit costs and professional services which are not directly attributable to any individual segment. Three months ended Nine months ended 2023 2022 2023 2022 Revenue Franchise segment revenue - U.S. $ 95,209 $ 78,873 $ 281,836 $ 237,612 Franchise segment revenue - International 2,956 1,873 7,855 5,761 Franchise segment total 98,165 80,746 289,691 243,373 Corporate-owned stores - U.S. 112,080 100,247 329,505 275,962 Corporate-owned stores - International 1,165 1,083 3,380 2,978 Corporate-owned stores total 113,245 101,330 332,885 278,940 Equipment segment - U.S. 62,605 60,952 158,335 124,781 Equipment segment - International 3,536 1,358 5,329 8,410 Equipment segment total 66,141 62,310 163,664 133,191 Total revenue $ 277,551 $ 244,386 $ 786,240 $ 655,504 Franchise revenue includes revenue generated from placement services of $5,884 and $4,376 for the three months ended September 30, 2023 and 2022, respectively, and $13,760 and $10,102 for the nine months ended September 30, 2023 and 2022, respectively. Three months ended Nine months ended 2023 2022 2023 2022 Segment EBITDA Franchise $ 67,583 $ 53,475 $ 198,418 $ 167,910 Corporate-owned stores 44,264 40,446 126,499 103,287 Equipment 16,434 15,803 39,134 34,638 Corporate and other (18,547) (10,458) (52,238) (41,059) Total Segment EBITDA $ 109,734 $ 99,266 $ 311,813 $ 264,776 The following table reconciles total Segment EBITDA to income before taxes: Three months ended Nine months ended 2023 2022 2023 2022 Total Segment EBITDA $ 109,734 $ 99,266 $ 311,813 $ 264,776 Less: Depreciation and amortization 37,477 32,572 110,254 90,427 Other income 148 4,762 631 9,000 Equity losses of unconsolidated entities, net of tax (242) (2) (580) (334) Income from operations 72,351 61,934 201,508 165,683 Interest income 4,245 1,561 12,339 2,244 Interest expense (21,704) (21,917) (64,771) (66,527) Other income 148 4,762 631 9,000 Income before income taxes $ 55,040 $ 46,340 $ 149,707 $ 110,400 The following table summarizes the Company’s assets by reportable segment: September 30, 2023 December 31, 2022 Franchise $ 177,045 $ 161,355 Corporate-owned stores 1,624,489 1,559,985 Equipment 187,899 200,020 Unallocated 955,414 933,229 Total consolidated assets $ 2,944,847 $ 2,854,589 The table above includes $721 and $916 of long-lived assets located in the Company’s international corporate-owned stores as of September 30, 2023 and December 31, 2022, respectively. All other assets are located in the U.S. The following table summarizes the Company’s goodwill by reportable segment: September 30, 2023 December 31, 2022 Franchise $ 16,938 $ 16,938 Corporate-owned stores 607,898 593,086 Equipment 92,666 92,666 Consolidated goodwill $ 717,502 $ 702,690

Corporate-owned and franchisee-

Corporate-owned and franchisee-owned stores	9 Months Ended
Corporate-owned and franchisee-owned stores	Sep. 30, 2023
Franchisors [Abstract]
Corporate-owned and franchisee-owned stores	Corporate-owned and franchisee-owned stores The following table shows changes in corporate-owned and franchisee-owned stores for the three and nine months ended September 30, 2023 and 2022: For the three months ended For the nine months ended 2023 2022 2023 2022 Franchisee-owned stores: Stores operated at beginning of period 2,230 2,091 2,176 2,142 New stores opened 24 25 82 89 Stores acquired from the Company — 6 — 6 Stores debranded, sold, or consolidated (1) — — (4) (115) Stores operated at end of period 2,254 2,122 2,254 2,122 Corporate-owned stores: Stores operated at beginning of period 242 233 234 112 New stores opened 2 4 6 11 Stores sold to franchisees — (6) — (6) Stores acquired from franchisees — — 4 114 Stores operated at end of period 244 231 244 231 Total stores: Stores operated at beginning of period 2,472 2,324 2,410 2,254 New stores opened 26 29 88 100 Stores acquired, debranded, sold or consolidated (1) — — — (1) Stores operated at end of period 2,498 2,353 2,498 2,353 (1) The term “debrand” refers to a franchisee-owned store whose right to use the Planet Fitness brand and marks has been terminated in accordance with the franchise agreement. The Company retains the right to prevent debranded stores from continuing to operate as fitness centers. The term “consolidated” refers to the combination of a franchisee’s store with another store located in close proximity with prior approval. This often coincides with an enlargement, re-equipment and/or refurbishment of the remaining store.

VIE deconsolidation

VIE deconsolidation	9 Months Ended
VIE deconsolidation	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VIE deconsolidation	VIE deconsolidationDuring 2023, a triggering event occurred that resulted in the Company analyzing the PF Melville LLC and Matthew Michael Realty LLC VIEs to determine if they still met the criteria for consolidation. As a result of the analysis, the Company determined these entities no longer qualify for consolidation as VIEs as the Company no longer qualifies as the primary beneficiary of the VIEs and therefore deconsolidated the entities. The deconsolidation removed the net assets and non-controlling interest from the VIEs and did not impact the Company’s condensed consolidated statements of operations.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 39,134	$ 26,913	$ 102,973	$ 65,719

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	9 Months Ended
Summary of significant accounting policies (Policies)	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of presentation and consolidation	Basis of presentation and consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, these interim financial statements do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented have been reflected. All significant intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial statements as of and for the three and nine months ended September 30, 2023 and 2022 are unaudited. The condensed consolidated balance sheet as of December 31, 2022 has been derived from the audited financial statements at that date but does not include all of the disclosures required by U.S. GAAP. These interim condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “Annual Report”) filed with the SEC on March 1, 2023, as amended on March 2, 2023. The Company’s significant interim accounting policies include the proportional recognition of national advertising fund expenses within interim periods. Operating results for the interim periods are not necessarily indicative of the results that may be expected for the full year.
Use of estimates	Use of estimatesThe preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. Significant areas where estimates and judgments are relied upon by management in the preparation of the consolidated financial statements include revenue recognition, valuation of equity-based compensation awards, valuation of assets and liabilities acquired in business combinations, valuation of certain investments and other financial instruments including valuation of investments without readily determinable fair values, the evaluation of the recoverability of goodwill and long-lived assets, including intangible assets, allowance for expected credit losses, contingent liabilities, the present value of lease liabilities, income taxes, including deferred tax assets and liabilities, and the liability for the Company’s tax benefit arrangements.
Marketable securities	Marketable securities Marketable securities primarily consist of commercial paper, corporate debt securities, U.S. treasury securities, and U.S. government agency securities. We classify our marketable securities as available-for-sale at the time of purchase and reevaluate such classification at each balance sheet date. We may sell these securities at any time for use in current operations even if they have not yet reached maturity. The Company invests in a diversified portfolio of marketable securities and limits the concentration of its investment in any particular security. Securities with maturities greater than three months, but less than one year, are included in current assets and securities with maturities greater than one year are included within investments in non-current assets on the consolidated balance sheets. All marketable securities classified as available-for-sale are reported at fair value. If the estimated fair value of an available-for-sale debt security is below its amortized cost basis, then the Company evaluates the security for impairment. The Company considers its intent to sell the security or whether it is more likely than not that it will be required to sell the security before recovery of its amortized basis. If either of these criteria are met, the debt security’s amortized cost basis is written down to fair value through other income (expense), net in the consolidated statements of operations. If neither of these criteria are met, the Company evaluates whether unrealized losses have resulted from a credit loss or other factors. The factors considered in determining whether a credit loss exists can include the extent to which fair value is less than the amortized cost basis, changes to the rating of the security by a rating agency, any adverse conditions specifically related to the security, as well as other factors. An impairment relating to credit losses is recorded through an allowance for credit losses reported in other income (expense), net in the consolidated statements of operations. The allowance is limited by the amount that the fair value of the debt security is below its amortized cost basis. When a credit loss exists, the Company compares the present value of cash flows expected to be collected from the debt security with the amortized cost basis of the security to determine what allowance amount, if any, should be recorded. Unrealized gains or losses not resulting from credit losses are recorded through accumulated other comprehensive income (loss). Realized gains and losses from the sale of marketable securities are determined based on the specific identification method. Realized gains and losses are reported in other income (expense), net in the consolidated statements of operations. Interest income from marketable securities is recognized as earned within the condensed consolidated statement of operations.
Fair value	Fair value ASC 820, Fair Value Measurements and Disclosures , establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows: Level 1—Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2—Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3—Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
Recent accounting pronouncements	Recent accounting pronouncementsThere are no recent accounting pronouncements that are expected to have a material impact on the Company’s financial position or results of operations.
Investments - Held-to-maturity debt securities	Investments - Held-to-maturity debt securities As of September 30, 2023, the Company’s debt security investment consists of redeemable preferred shares that are accounted for as a held-to-maturity investment, with a contractual maturity in 2026. The Company’s investment is measured at amortized cost within investments in the condensed consolidated balance sheets. The Company reviews its held-to-maturity securities for expected credit losses under ASC Topic 326, Credit Impairment , on an ongoing basis.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	9 Months Ended
Summary of significant accounting policies (Tables)	Sep. 30, 2023
Accounting Policies [Abstract]
Schedule of the Carrying Value and Estimated Fair Value of Certain Liabilities	The carrying value and estimated fair value of certain liabilities as of September 30, 2023 and December 31, 2022 were as follows: September 30, 2023 December 31, 2022 Carrying value Estimated fair value Carrying value Estimated fair value Liabilities Long-term debt (1) $ 2,009,625 $ 1,763,500 $ 2,025,188 $ 1,730,634 (1) The estimated fair value of the Company’s fixed rate long-term debt is estimated primarily based on current bid prices for the long-term debt. Judgment is required to develop these estimates. As such, the fair value of long-term debt is classified within Level 2, as defined under U.S. GAAP.

Investments (Tables)

Investments (Tables)	9 Months Ended
Investments (Tables)	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Amortized Cost, Gross Unrealized Gains (Losses), and Fair Value of Cash Equivalents and Marketable Securities	The following table summarizes the amortized cost, gross unrealized gains (losses), and fair value of the Company’s cash equivalents and marketable securities: September 30, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash Equivalents Marketable Securities Level 1 Money market funds $ 981 $ — $ — $ 981 $ 981 $ — Level 2 Commercial paper 74,471 — (86) 74,385 7,955 66,430 Corporate debt securities 44,252 — (157) 44,095 — 44,095 U.S. treasury securities 4,988 — (5) 4,983 — 4,983 U.S. government agency securities 3,209 — (5) 3,204 — 3,204 Total level 2 126,920 — (253) 126,667 7,955 118,712 Total $ 127,901 $ — $ (253) $ 127,648 $ 8,936 $ 118,712
Schedule of Allowance for Expected Credit Losses on Held-to-maturity Investments	A roll forward of the Company’s allowance for expected credit losses on held-to-maturity investments is as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Beginning allowance for expected credit losses $ 15,052 $ 15,617 $ 14,957 $ 17,462 (Gain) loss on adjustment of allowance for expected credit losses (101) 273 (6) (1,572) Write-offs, net of recoveries — — — — Ending allowance for expected credit losses $ 14,951 $ 15,890 $ 14,951 $ 15,890

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
Acquisitions (Tables)	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Pro Forma Financial Information	The following pro forma financial information for the nine months ended September 30, 2022 summarizes the combined results of operations for the Company and Sunshine Fitness, as though the companies were combined as of the beginning of 2021. The three and nine months ended September 30, 2023 and the three months ended September 30, 2022 total revenues, income before taxes, and net income are included within the condensed consolidated statements of operations. For the nine months ended September 30, 2022 Total revenues $ 675,954 Income before taxes 110,246 Net income 74,008
Schedule of Purchase Consideration	The preliminary allocation of the purchase consideration was as follows: Amount Property and equipment $ 3,851 Right of use assets 5,424 Other long-term assets 95 Intangible assets 6,880 Goodwill 14,812 Deferred revenue (687) Other current liabilities (17) Lease liabilities (4,204) Total $ 26,154
Schedule of Components of Identifiable Intangible Assets Acquired	The following table sets forth the components of identifiable intangible assets acquired in the Florida Acquisition and their estimated useful lives as of the date of the acquisition: Preliminary Fair Value Preliminary Useful Life Reacquired franchise rights (1) $ 6,650 6.8 Customer relationships (2) 230 6.0 Total intangible assets subject to amortization $ 6,880 (1) Reacquired franchise rights represent the fair value of the reacquired franchise agreements using the income approach, specifically, the multi-period excess earnings method. (2) Customer relationships represent the fair value of the existing contractual customer relationships using the income approach, specifically, the multi-period excess earnings method.

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	9 Months Ended
Goodwill and intangible assets (Tables)	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Intangible Assets	A summary of goodwill and intangible assets at September 30, 2023 and December 31, 2022 is as follows: September 30, 2023 Gross Accumulated Net carrying Customer relationships $ 199,043 $ (165,174) $ 33,869 Reacquired franchise and area development rights 274,708 (69,715) 204,993 473,751 (234,889) 238,862 Indefinite-lived intangible: Trade and brand names 146,600 — 146,600 Total intangible assets $ 620,351 $ (234,889) $ 385,462 Goodwill $ 717,502 $ — $ 717,502 December 31, 2022 Gross Accumulated Net carrying Customer relationships $ 198,813 $ (153,243) $ 45,570 Reacquired franchise and area development rights 268,058 (43,161) 224,897 466,871 (196,404) 270,467 Indefinite-lived intangible: Trade and brand names 146,600 — 146,600 Total intangible assets $ 613,471 $ (196,404) $ 417,067 Goodwill $ 702,690 $ — $ 702,690
Schedule of Rollforward of Goodwill	A roll forward of goodwill between December 31, 2022 and September 30, 2023 is as follows: Franchise Corporate-owned stores Equipment Total As of December 31, 2022 $ 16,938 $ 593,086 $ 92,666 $ 702,690 Acquisition of franchisee-owned stores — 14,812 — 14,812 As of September 30, 2023 $ 16,938 $ 607,898 $ 92,666 $ 717,502 The following table summarizes the Company’s goodwill by reportable segment: September 30, 2023 December 31, 2022 Franchise $ 16,938 $ 16,938 Corporate-owned stores 607,898 593,086 Equipment 92,666 92,666 Consolidated goodwill $ 717,502 $ 702,690
Schedule of Amortization Expenses	The anticipated annual amortization expense related to intangible assets to be recognized in future years as of September 30, 2023 is as follows: Amount Remainder of 2023 $ 12,954 2024 49,190 2025 36,713 2026 32,079 2027 27,956 Thereafter 79,970 Total $ 238,862

Long-term debt (Tables)

Long-term debt (Tables)	9 Months Ended
Long-term debt (Tables)	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt as of September 30, 2023 and December 31, 2022 consists of the following: September 30, 2023 December 31, 2022 2018-1 Class A-2-II notes $ 593,750 $ 598,438 2019-1 Class A-2 notes 529,375 533,500 2022-1 Class A-2-I notes 418,625 421,812 2022-1 Class A-2-II notes 467,875 471,437 Total debt, excluding deferred financing costs 2,009,625 2,025,187 Deferred financing costs, net of accumulated amortization (22,193) (26,306) Total debt 1,987,432 1,998,881 Current portion of long-term debt 20,750 20,750 Long-term debt, net of current portion $ 1,966,682 $ 1,978,131
Schedule of Future Annual Principal Payments of Long-term Debt	Future annual principal payments of long-term debt as of September 30, 2023 are as follows: Amount Remainder of 2023 $ 5,188 2024 20,750 2025 600,438 2026 419,312 2027 10,250 Thereafter 953,687 Total $ 2,009,625

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2023
Leases [Abstract]
Schedule of Balance Sheet Classification of Lease Assets and Liabilities	Leases Classification September 30, 2023 December 31, 2022 Assets Operating lease ROU assets Right of use asset, net $ 381,819 $ 346,937 Finance lease assets Property and equipment, net 219 370 Total lease assets $ 382,038 $ 347,307 Liabilities Current: Operating Other current liabilities $ 33,589 $ 33,233 Financing Other current liabilities 140 38 Noncurrent: Operating Lease liabilities, net of current portion 379,810 341,843 Financing Other liabilities 88 342 Total lease liabilities $ 413,627 $ 375,456 Weighted-average remaining lease term (years) - operating leases 8.1 8.1 Weighted-average discount rate - operating leases 5.2 % 4.7 %
Schedule of Components of Lease Cost	During the three and nine months ended September 30, 2023 and 2022, the components of lease cost were as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Operating lease cost $ 16,467 $ 14,677 $ 47,154 $ 41,411 Variable lease cost 5,917 5,691 16,936 15,415 Total lease cost $ 22,384 $ 20,368 $ 64,090 $ 56,826 Supplemental disclosures of cash flow information related to leases were as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Cash paid for lease liabilities $ 13,877 $ 14,172 $ 41,985 $ 40,405 Operating lease ROU assets obtained in exchange for operating lease liabilities, excluding acquisitions $ 38,683 $ 6,073 $ 59,410 $ 29,234 Operating lease ROU assets obtained in exchange for operating lease liabilities through acquisitions $ — $ — $ 4,204 $ 162,827
Schedule of Supplemental Disclosures of Cash Flow Information Related to Leases	During the three and nine months ended September 30, 2023 and 2022, the components of lease cost were as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Operating lease cost $ 16,467 $ 14,677 $ 47,154 $ 41,411 Variable lease cost 5,917 5,691 16,936 15,415 Total lease cost $ 22,384 $ 20,368 $ 64,090 $ 56,826 Supplemental disclosures of cash flow information related to leases were as follows: Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Cash paid for lease liabilities $ 13,877 $ 14,172 $ 41,985 $ 40,405 Operating lease ROU assets obtained in exchange for operating lease liabilities, excluding acquisitions $ 38,683 $ 6,073 $ 59,410 $ 29,234 Operating lease ROU assets obtained in exchange for operating lease liabilities through acquisitions $ — $ — $ 4,204 $ 162,827
Schedule of Maturities of Lease Liabilities	As of September 30, 2023, maturities of lease liabilities were as follows: Amount Remainder of 2023 $ 9,506 2024 60,149 2025 68,800 2026 69,264 2027 66,584 Thereafter 242,152 Total lease payments $ 516,455 Less: imputed interest 102,828 Present value of lease liabilities $ 413,627
Schedule of Maturities of Lease Liabilities	As of September 30, 2023, maturities of lease liabilities were as follows: Amount Remainder of 2023 $ 9,506 2024 60,149 2025 68,800 2026 69,264 2027 66,584 Thereafter 242,152 Total lease payments $ 516,455 Less: imputed interest 102,828 Present value of lease liabilities $ 413,627

Revenue recognition (Tables)

Revenue recognition (Tables)	9 Months Ended
Revenue recognition (Tables)	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Contract Liabilities	The following table reflects the change in contract liabilities between December 31, 2022 and September 30, 2023: Contract liabilities Balance at December 31, 2022 $ 86,911 Revenue recognized that was included in the contract liability at the beginning of the year (50,443) Increase, excluding amounts recognized as revenue during the period 60,554 Balance at September 30, 2023 $ 97,022
Schedule of Remaining Performance Obligation	The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of September 30, 2023. The Company has elected to exclude short-term contracts, sales and usage-based royalties and any other variable consideration recognized on an “as invoiced” basis. Contract liabilities to be recognized in: Amount Remainder of 2023 $ 40,424 2024 25,559 2025 4,967 2026 3,894 2027 3,417 Thereafter 18,761 Total $ 97,022

Related party transactions (Tab

Related party transactions (Tables)	9 Months Ended
Related party transactions (Tables)	Sep. 30, 2023
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Activity with franchisees considered to be related parties is summarized below: For the three months ended For the nine months ended 2023 2022 2023 2022 Franchise revenue - interim CEO $ 958 $ 729 $ 2,882 $ 2,461 Franchise revenue - other 656 233 1,206 434 Equipment revenue - interim CEO 1,294 1,648 2,305 1,661 Equipment revenue - other 1,641 — 1,641 — Total revenue from related parties $ 4,549 $ 2,610 $ 8,034 $ 4,556

Earnings per share (Tables)

Earnings per share (Tables)	9 Months Ended
Earnings per share (Tables)	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Reconciliation of Numerators and Denominators Used to Compute Basic and Diluted Earnings per Share	The following table sets forth reconciliations used to compute basic and diluted earnings per share of Class A common stock: Three months ended Nine months ended 2023 2022 2023 2022 Numerator Net income $ 41,324 $ 30,677 $ 110,272 $ 74,124 Less: net income attributable to non-controlling interests 2,190 3,764 7,299 8,405 Net income attributable to Planet Fitness, Inc. $ 39,134 $ 26,913 $ 102,973 $ 65,719 Denominator Weighted-average shares of Class A common stock outstanding - basic 84,609,522 84,156,488 84,557,902 84,377,324 Effect of dilutive securities: Stock options 212,953 338,981 239,709 357,315 Restricted stock units 48,282 50,854 64,347 62,050 Performance stock units 15,562 290 8,354 1,235 Weighted-average shares of Class A common stock outstanding - diluted 84,886,319 84,546,613 84,870,312 84,797,924 Earnings per share of Class A common stock - basic $ 0.46 $ 0.32 $ 1.22 $ 0.78 Earnings per share of Class A common stock - diluted $ 0.46 $ 0.32 $ 1.21 $ 0.78

Income taxes (Tables)

Income taxes (Tables)	9 Months Ended
Income taxes (Tables)	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Projected Future Payments Under Tax Benefit Arrangements	Projected future payments under the tax benefit arrangements are as follows: Amount Remainder of 2023 $ 11,129 2024 38,397 2025 47,379 2026 49,868 2027 52,515 Thereafter 290,474 Total $ 489,762

Segments (Tables)

Segments (Tables)	9 Months Ended
Segments (Tables)	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Financial Information for the Company's Reportable Segments	The tables below summarize the financial information for the Company’s reportable segments for the three and nine months ended September 30, 2023 and 2022. The “Corporate and other” category, as it relates to Segment EBITDA, primarily includes corporate overhead costs, such as payroll and related benefit costs and professional services which are not directly attributable to any individual segment. Three months ended Nine months ended 2023 2022 2023 2022 Revenue Franchise segment revenue - U.S. $ 95,209 $ 78,873 $ 281,836 $ 237,612 Franchise segment revenue - International 2,956 1,873 7,855 5,761 Franchise segment total 98,165 80,746 289,691 243,373 Corporate-owned stores - U.S. 112,080 100,247 329,505 275,962 Corporate-owned stores - International 1,165 1,083 3,380 2,978 Corporate-owned stores total 113,245 101,330 332,885 278,940 Equipment segment - U.S. 62,605 60,952 158,335 124,781 Equipment segment - International 3,536 1,358 5,329 8,410 Equipment segment total 66,141 62,310 163,664 133,191 Total revenue $ 277,551 $ 244,386 $ 786,240 $ 655,504 Three months ended Nine months ended 2023 2022 2023 2022 Segment EBITDA Franchise $ 67,583 $ 53,475 $ 198,418 $ 167,910 Corporate-owned stores 44,264 40,446 126,499 103,287 Equipment 16,434 15,803 39,134 34,638 Corporate and other (18,547) (10,458) (52,238) (41,059) Total Segment EBITDA $ 109,734 $ 99,266 $ 311,813 $ 264,776
Schedule of Reconciliation of Total Segment EBITDA to Income Before Taxes	The following table reconciles total Segment EBITDA to income before taxes: Three months ended Nine months ended 2023 2022 2023 2022 Total Segment EBITDA $ 109,734 $ 99,266 $ 311,813 $ 264,776 Less: Depreciation and amortization 37,477 32,572 110,254 90,427 Other income 148 4,762 631 9,000 Equity losses of unconsolidated entities, net of tax (242) (2) (580) (334) Income from operations 72,351 61,934 201,508 165,683 Interest income 4,245 1,561 12,339 2,244 Interest expense (21,704) (21,917) (64,771) (66,527) Other income 148 4,762 631 9,000 Income before income taxes $ 55,040 $ 46,340 $ 149,707 $ 110,400
Schedule of Company's Assets by Reportable Segment	The following table summarizes the Company’s assets by reportable segment: September 30, 2023 December 31, 2022 Franchise $ 177,045 $ 161,355 Corporate-owned stores 1,624,489 1,559,985 Equipment 187,899 200,020 Unallocated 955,414 933,229 Total consolidated assets $ 2,944,847 $ 2,854,589
Schedule of Company's Goodwill by Reportable Segment	A roll forward of goodwill between December 31, 2022 and September 30, 2023 is as follows: Franchise Corporate-owned stores Equipment Total As of December 31, 2022 $ 16,938 $ 593,086 $ 92,666 $ 702,690 Acquisition of franchisee-owned stores — 14,812 — 14,812 As of September 30, 2023 $ 16,938 $ 607,898 $ 92,666 $ 717,502 The following table summarizes the Company’s goodwill by reportable segment: September 30, 2023 December 31, 2022 Franchise $ 16,938 $ 16,938 Corporate-owned stores 607,898 593,086 Equipment 92,666 92,666 Consolidated goodwill $ 717,502 $ 702,690

Corporate-owned and franchise_2

Corporate-owned and franchisee-owned stores (Tables)	9 Months Ended
Corporate-owned and franchisee-owned stores (Tables)	Sep. 30, 2023
Franchisors [Abstract]
Schedule of Changes in Corporate-Owned and Franchisee-Owned Stores	The following table shows changes in corporate-owned and franchisee-owned stores for the three and nine months ended September 30, 2023 and 2022: For the three months ended For the nine months ended 2023 2022 2023 2022 Franchisee-owned stores: Stores operated at beginning of period 2,230 2,091 2,176 2,142 New stores opened 24 25 82 89 Stores acquired from the Company — 6 — 6 Stores debranded, sold, or consolidated (1) — — (4) (115) Stores operated at end of period 2,254 2,122 2,254 2,122 Corporate-owned stores: Stores operated at beginning of period 242 233 234 112 New stores opened 2 4 6 11 Stores sold to franchisees — (6) — (6) Stores acquired from franchisees — — 4 114 Stores operated at end of period 244 231 244 231 Total stores: Stores operated at beginning of period 2,472 2,324 2,410 2,254 New stores opened 26 29 88 100 Stores acquired, debranded, sold or consolidated (1) — — — (1) Stores operated at end of period 2,498 2,353 2,498 2,353 (1) The term “debrand” refers to a franchisee-owned store whose right to use the Planet Fitness brand and marks has been terminated in accordance with the franchise agreement. The Company retains the right to prevent debranded stores from continuing to operate as fitness centers. The term “consolidated” refers to the combination of a franchisee’s store with another store located in close proximity with prior approval. This often coincides with an enlargement, re-equipment and/or refurbishment of the remaining store.

Business organization (Details)

Business organization (Details) member in Millions	9 Months Ended
Business organization (Details) member in Millions	Sep. 30, 2023 state member segment store	Jun. 30, 2023 store	Dec. 31, 2022 store	Sep. 30, 2022 store	Jun. 30, 2022 store	Dec. 31, 2021 store	Aug. 05, 2015
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of owned and franchised locations \| store	2,498	2,472	2,410	2,353	2,324	2,254
Number of states in which entity operates \| state	50
Number of reportable segments \| segment	3
Pla-Fit Holdings, LLC
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of ownership	100%						100%
Percentage of economic interest	96.90%
Pla-Fit Holdings, LLC \| Holdings Units
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of economic interest	3.10%
Planet Intermediate, LLC \| Pla-Fit Holdings, LLC
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of ownership							100%
Planet Fitness Holdings, LLC \| Planet Intermediate, LLC
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of ownership							100%
Minimum
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of members (more than) \| member	18.5

Summary of significant accoun_4

Summary of significant accounting policies - Schedule of the Carrying Value and Estimated Fair Value of Certain Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Carrying value
Liabilities
Long-term debt	$ 2,009,625	$ 2,025,188
Estimated fair value
Liabilities
Long-term debt	$ 1,763,500	$ 1,730,634

Investments - Amortized Cost, G

Investments - Amortized Cost, Gross Unrealized Gains (Losses), and Fair Value of Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Cash and cash equivalents	$ 308,970	$ 409,840
Amortized Cost	127,901
Unrealized Gains	0
Unrealized Losses	(253)
Debt securities	127,648
Cash Equivalents
Schedule of Equity Method Investments [Line Items]
Debt securities	8,936
Marketable Securities
Schedule of Equity Method Investments [Line Items]
Debt securities	118,712
Level 2
Schedule of Equity Method Investments [Line Items]
Amortized Cost	126,920
Unrealized Gains	0
Unrealized Losses	(253)
Debt securities	126,667
Level 2 \| Cash Equivalents
Schedule of Equity Method Investments [Line Items]
Debt securities	7,955
Level 2 \| Marketable Securities
Schedule of Equity Method Investments [Line Items]
Debt securities	118,712
Money market funds \| Level 1
Schedule of Equity Method Investments [Line Items]
Cash and cash equivalents	981
Money market funds \| Level 1 \| Cash Equivalents
Schedule of Equity Method Investments [Line Items]
Cash and cash equivalents	981
Money market funds \| Level 1 \| Marketable Securities
Schedule of Equity Method Investments [Line Items]
Cash and cash equivalents	0
Commercial paper \| Level 2
Schedule of Equity Method Investments [Line Items]
Amortized Cost	74,471
Unrealized Gains	0
Unrealized Losses	(86)
Debt securities	74,385
Commercial paper \| Level 2 \| Cash Equivalents
Schedule of Equity Method Investments [Line Items]
Debt securities	7,955
Commercial paper \| Level 2 \| Marketable Securities
Schedule of Equity Method Investments [Line Items]
Debt securities	66,430
Corporate debt securities \| Level 2
Schedule of Equity Method Investments [Line Items]
Amortized Cost	44,252
Unrealized Gains	0
Unrealized Losses	(157)
Debt securities	44,095
Corporate debt securities \| Level 2 \| Cash Equivalents
Schedule of Equity Method Investments [Line Items]
Debt securities	0
Corporate debt securities \| Level 2 \| Marketable Securities
Schedule of Equity Method Investments [Line Items]
Debt securities	44,095
U.S. treasury securities \| Level 2
Schedule of Equity Method Investments [Line Items]
Amortized Cost	4,988
Unrealized Gains	0
Unrealized Losses	(5)
Debt securities	4,983
U.S. treasury securities \| Level 2 \| Cash Equivalents
Schedule of Equity Method Investments [Line Items]
Debt securities	0
U.S. treasury securities \| Level 2 \| Marketable Securities
Schedule of Equity Method Investments [Line Items]
Debt securities	4,983
U.S. government agency securities \| Level 2
Schedule of Equity Method Investments [Line Items]
Amortized Cost	3,209
Unrealized Gains	0
Unrealized Losses	(5)
Debt securities	3,204
U.S. government agency securities \| Level 2 \| Cash Equivalents
Schedule of Equity Method Investments [Line Items]
Debt securities	0
U.S. government agency securities \| Level 2 \| Marketable Securities
Schedule of Equity Method Investments [Line Items]
Debt securities	$ 3,204

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($)				1 Months Ended	3 Months Ended			9 Months Ended
Investments - Narrative (Details) - USD ($)	Nov. 09, 2023	Jun. 23, 2023	Apr. 09, 2021	Aug. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Marketable securities						$ 0
Non-current marketable debt securities					$ 10,252,000	0		$ 10,252,000
Amortized cost of held-to-maturity debt security investments					29,767,000	28,277,000		29,767,000
Allowance for expected credit loss					14,951,000	$ 14,957,000	$ 15,890,000	14,951,000	$ 15,890,000	$ 15,052,000	$ 15,617,000	$ 17,462,000
Dividends accrued on investment					511,000		477,000	1,490,000	1,391,000
Equity losses of unconsolidated entities, net of tax					242,000		2,000	580,000	334,000
Planet Fitness Australia Holdings
Schedule of Equity Method Investments [Line Items]
Ownership percentage			21%			21%
Payment to acquire equity method investment			$ 10,000			$ 2,449,000
Equity losses of unconsolidated entities, net of tax					94,000		$ 2,000	432,000	$ 334,000
Underlying equity in net assets					11,370,000	$ 11,802,000		11,370,000
Planet Fitmex, LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage		12.50%		22.20%
Payment to acquire equity method investment		$ 10,000,000		$ 10,000,000
Equity losses of unconsolidated entities, net of tax					148,000			148,000
Underlying equity in net assets					$ 19,852,000			$ 19,852,000
Total investment				$ 20,000
Planet Fitmex, LLC \| Subsequent Event
Schedule of Equity Method Investments [Line Items]
Ownership percentage	25.20%
Payment to acquire equity method investment	$ 15,596,000

Investments - Schedule of Allow

Investments - Schedule of Allowance for Expected Credit Losses on Held-to-maturity Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward]
Beginning allowance for expected credit losses	$ 15,052	$ 15,617	$ 14,957	$ 17,462
(Gain) loss on adjustment of allowance for expected credit losses	(101)	273	(6)	(1,572)
Write-offs, net of recoveries	0	0	0	0
Ending allowance for expected credit losses	$ 14,951	$ 15,890	$ 14,951	$ 15,890

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Thousands	Apr. 16, 2023 USD ($) store	Sep. 30, 2023 store	Jun. 30, 2023 store	Dec. 31, 2022 store	Sep. 30, 2022 store	Jun. 30, 2022 store	Feb. 10, 2022 store	Dec. 31, 2021 store
Business Acquisition [Line Items]
Number of owned and franchised locations \| store		2,498	2,472	2,410	2,353	2,324		2,254
Sunshine Fitness
Business Acquisition [Line Items]
Percentage of voting interests acquired							100%
Number of owned and franchised locations \| store							114
Florida Acquisition
Business Acquisition [Line Items]
Number of owned and franchised locations \| store	4
Purchase price of the acquisition \| $	$ 26,264
Loss on unfavorable reacquired franchise rights \| $	110
Consideration transferred, adjusted \| $	$ 26,154

Acquisitions - Schedule of Pro

Acquisitions - Schedule of Pro Forma Financial Information (Details) - Sunshine Fitness $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Business Acquisition [Line Items]
Total revenues	$ 675,954
Income before taxes	110,246
Net income	$ 74,008

Acquisitions - Schedule of Purc

Acquisitions - Schedule of Purchase Consideration (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Apr. 16, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 717,502		$ 702,690
Florida Acquisition
Business Acquisition [Line Items]
Property and equipment		$ 3,851
Right of use assets		5,424
Other long-term assets		95
Intangible assets		6,880
Goodwill		14,812
Deferred revenue		(687)
Other current liabilities		(17)
Lease liabilities		(4,204)
Net assets acquired		$ 26,154

Acquisitions - Components of Id

Acquisitions - Components of Identifiable Intangible Assets Acquired (Details) - Florida Acquisition $ in Thousands	Apr. 16, 2023 USD ($)
Business Acquisition [Line Items]
Preliminary Fair Value	$ 6,880
Reacquired franchise rights
Business Acquisition [Line Items]
Preliminary Fair Value	$ 6,650
Preliminary Useful Life	6 years 9 months 18 days
Customer relationships
Business Acquisition [Line Items]
Preliminary Fair Value	$ 230
Preliminary Useful Life	6 years

Sale of corporate-owned stores

Sale of corporate-owned stores (Details) $ in Thousands		3 Months Ended	9 Months Ended
Sale of corporate-owned stores (Details) $ in Thousands	Aug. 31, 2022 USD ($) store	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of corporate-owned stores			$ 0	$ 20,820
Gain on sale of corporate-owned stores			$ 0	$ 1,324
Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of stores sold \| store	6
Proceeds from sale of corporate-owned stores	$ 20,820
Net value of assets sold	19,496
Goodwill	14,423
Intangible assets	2,629
Net tangible assets	$ 2,444
Gain on sale of corporate-owned stores		$ 1,324

Goodwill and intangible asset_2

Goodwill and intangible assets - Schedule of Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Goodwill And Intangible Assets [Line Items]
Gross carrying amount	$ 473,751	$ 466,871
Accumulated amortization	(234,889)	(196,404)
Net carrying Amount	238,862	270,467
Total intangible assets, Gross carrying amount	620,351	613,471
Total intangible assets, Net carrying Amount	385,462	417,067
Goodwill, Gross carrying amount	717,502	702,690
Goodwill, Accumulated amortization	0	0
Goodwill, Net carrying Amount	717,502	702,690
Trade and brand names
Goodwill And Intangible Assets [Line Items]
Indefinite-lived intangible assets	146,600	146,600
Customer relationships
Goodwill And Intangible Assets [Line Items]
Gross carrying amount	199,043	198,813
Accumulated amortization	(165,174)	(153,243)
Net carrying Amount	33,869	45,570
Reacquired franchise and area development rights
Goodwill And Intangible Assets [Line Items]
Gross carrying amount	274,708	268,058
Accumulated amortization	(69,715)	(43,161)
Net carrying Amount	$ 204,993	$ 224,897

Goodwill and intangible asset_3

Goodwill and intangible assets - Schedule of Rollforward of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Goodwill [Roll Forward]
Beginning Balance	$ 702,690
Acquisition of franchisee-owned stores	14,812
Ending Balance	717,502
Franchise
Goodwill [Roll Forward]
Beginning Balance	16,938
Acquisition of franchisee-owned stores	0
Ending Balance	16,938
Corporate-owned stores
Goodwill [Roll Forward]
Beginning Balance	593,086
Acquisition of franchisee-owned stores	14,812
Ending Balance	607,898
Equipment
Goodwill [Roll Forward]
Beginning Balance	92,666
Acquisition of franchisee-owned stores	0
Ending Balance	$ 92,666

Goodwill and intangible asset_4

Goodwill and intangible assets - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment charges			$ 0
Amortization of intangible assets	$ 12,965,000	$ 10,611,000	$ 38,517,000	$ 29,644,000

Goodwill and intangible asset_5

Goodwill and intangible assets - Schedule of Amortization Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2023	$ 12,954
2024	49,190
2025	36,713
2026	32,079
2027	27,956
Thereafter	79,970
Net carrying Amount	$ 238,862	$ 270,467

Long-term debt - Schedule of Lo

Long-term debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total debt, excluding deferred financing costs	$ 2,009,625	$ 2,025,187
Deferred financing costs, net of accumulated amortization	(22,193)	(26,306)
Total debt	1,987,432	1,998,881
Current portion of long-term debt	20,750	20,750
Long-term debt, net of current portion	1,966,682	1,978,131
2018-1 Class A-2-II notes \| Senior fixed-rate term notes
Debt Instrument [Line Items]
Total debt, excluding deferred financing costs	593,750	598,438
2019-1 Class A-2 notes \| Senior fixed-rate term notes
Debt Instrument [Line Items]
Total debt, excluding deferred financing costs	529,375	533,500
2022-1 Class A-2-I notes \| Senior fixed-rate term notes
Debt Instrument [Line Items]
Total debt, excluding deferred financing costs	418,625	421,812
2022-1 Class A-2-II notes \| Senior fixed-rate term notes
Debt Instrument [Line Items]
Total debt, excluding deferred financing costs	$ 467,875	$ 471,437

Long-term debt - Schedule of Fu

Long-term debt - Schedule of Future Annual Principal Payments of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Remainder of 2023	$ 5,188
2024	20,750
2025	600,438
2026	419,312
2027	10,250
Thereafter	953,687
Total	$ 2,009,625	$ 2,025,187

Long-term debt - Narrative (Det

Long-term debt - Narrative (Details)			9 Months Ended
Long-term debt - Narrative (Details)	May 09, 2022 USD ($)	Feb. 10, 2022 USD ($) extension	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 03, 2019 USD ($)	Aug. 01, 2018 USD ($)
Debt Instrument [Line Items]
Proceeds from issuance of Variable Funding Notes			$ 0	$ 75,000,000
Repayment of long-term debt and Variable Funding Notes			15,563,000	719,625,000
Debt issuance costs		$ 16,193,000			$ 10,577,000	$ 27,133,000
Restricted cash			$ 46,381,000
2018-1 Class A-2-I notes
Debt Instrument [Line Items]
Loss on extinguishment of debt				$ 1,583,000
2018-1 Class A-2-I notes \| Senior fixed-rate term notes
Debt Instrument [Line Items]
Fixed interest rate						4.262%
Principal amount						$ 575,000,000
2018-1 Class A-2-II notes \| Senior fixed-rate term notes
Debt Instrument [Line Items]
Fixed interest rate						4.666%
Principal amount						$ 625,000,000
Variable funding notes \| Borrowings under Variable Funding Notes
Debt Instrument [Line Items]
Maximum borrowing capacity						75,000,000
2019-1 Class A-2 notes \| Senior fixed-rate term notes
Debt Instrument [Line Items]
Fixed interest rate					3.858%
Principal amount					$ 550,000,000
3.251% Fixed Rate Class A-2-I Senior Secured Notes \| Senior fixed-rate term notes
Debt Instrument [Line Items]
Fixed interest rate		3.251%
Principal amount		$ 425,000
4.008% Fixed Rate Class A-2-II Senior Secured Notes \| Senior fixed-rate term notes
Debt Instrument [Line Items]
Fixed interest rate		4.008%
Principal amount		$ 475,000
2022 Variable Funding Notes \| Borrowings under Variable Funding Notes
Debt Instrument [Line Items]
Maximum borrowing capacity		75,000
Proceeds from issuance of Variable Funding Notes		$ 75,000,000
Repayment of long-term debt and Variable Funding Notes	$ 75,000,000
Commitment fee percentage		0.50%
Number of additional extensions \| extension		2
Term of extension (in years)		1 year
Line of credit interest rate		5%
Securitized Senior Notes \| Securitized Senior Notes
Debt Instrument [Line Items]
Cap on non-securitized indebtedness						$ 50,000,000
Leverage ratio cap						7

Leases - Balance Sheet Classifi

Leases - Balance Sheet Classification of Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property and equipment, net of accumulated depreciation of $296,677 and $227,869 as of September 30, 2023 and December 31, 2022, respectively	Property and equipment, net of accumulated depreciation of $296,677 and $227,869 as of September 30, 2023 and December 31, 2022, respectively
Operating lease ROU assets	$ 381,819	$ 346,937
Finance lease assets	219	370
Total lease assets	$ 382,038	$ 347,307
Liabilities
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Current operating lease liabilities	$ 33,589	$ 33,233
Current financing lease liabilities	140	38
Noncurrent operating lease liabilities	379,810	341,843
Noncurrent finance lease liabilities	88	342
Total lease liabilities	$ 413,627	$ 375,456
Weighted-average remaining lease term (years) - operating leases	8 years 1 month 6 days	8 years 1 month 6 days
Weighted-average discount rate - operating leases	5.20%	4.70%

Leases - Components of Lease Co

Leases - Components of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Operating lease cost	$ 16,467	$ 14,677	$ 47,154	$ 41,411
Variable lease cost	5,917	5,691	16,936	15,415
Total lease cost	$ 22,384	$ 20,368	$ 64,090	$ 56,826

Leases - Supplemental Disclosur

Leases - Supplemental Disclosures of Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Cash paid for lease liabilities	$ 13,877	$ 14,172	$ 41,985	$ 40,405
Operating lease ROU assets obtained in exchange for operating lease liabilities, excluding acquisitions	38,683	6,073	59,410	29,234
Operating lease ROU assets obtained in exchange for operating lease liabilities through acquisitions	$ 0	$ 0	$ 4,204	$ 162,827

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Remainder of 2023	$ 9,506
2024	60,149
2025	68,800
2026	69,264
2027	66,584
Thereafter	242,152
Total lease payments	516,455
Less: imputed interest	102,828
Present value of lease liabilities	$ 413,627	$ 375,456

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Leases [Abstract]
Lease payments for leases signed but not yet commenced	$ 29,938

Revenue recognition - Schedule

Revenue recognition - Schedule of Contract Liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Contract liabilities
Beginning Balance	$ 86,911
Revenue recognized that was included in the contract liability at the beginning of the year	(50,443)
Increase, excluding amounts recognized as revenue during the period	60,554
Ending Balance	$ 97,022

Revenue recognition - Remaining

Revenue recognition - Remaining Performance Obligation (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 97,022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 40,424
Remaining performance obligation, expected timing of satisfaction	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 25,559
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 4,967
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 3,894
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 3,417
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 18,761
Remaining performance obligation, expected timing of satisfaction

Revenue recognition - Narrative

Revenue recognition - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Equipment deposits	$ 13,933	$ 8,443

Related party transactions - Sc

Related party transactions - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Related Party Transaction [Line Items]
Total revenue	$ 277,551	$ 244,386	$ 786,240	$ 655,504
Related Party
Related Party Transaction [Line Items]
Total revenue	4,549	2,610	8,034	4,556
Related Party \| Franchise revenue - interim CEO
Related Party Transaction [Line Items]
Total revenue	958	729	2,882	2,461
Related Party \| Franchise revenue - other
Related Party Transaction [Line Items]
Total revenue	656	233	1,206	434
Related Party \| Equipment revenue - interim CEO
Related Party Transaction [Line Items]
Total revenue	1,294	1,648	2,305	1,661
Related Party \| Equipment revenue - other
Related Party Transaction [Line Items]
Total revenue	$ 1,641	$ 0	$ 1,641	$ 0

Related party transactions - Na

Related party transactions - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Deferred revenue	$ 97,022		$ 97,022		$ 86,911
Accounts payable	28,364		28,364		20,578
Revenue	277,551	$ 244,386	786,240	$ 655,504
Selling, general and administrative	33,290	27,148	93,705	86,176
Related Party
Related Party Transaction [Line Items]
Accounts payable	81,687		81,687		80,717
Revenue	4,549	2,610	8,034	4,556
Related Party \| Administrative Service \| Planet Fitness NAF, LLC
Related Party Transaction [Line Items]
Revenue	$ 893	651	$ 2,679	1,955
Related Party \| Director \| Amenity Tracking Compliance Software Company
Related Party Transaction [Line Items]
Ownership percentage	10.50%		10.50%
Related Party \| Reacquired area development rights
Related Party Transaction [Line Items]
Deferred revenue	$ 722		$ 722		467
Related Party \| Reacquired area development rights \| CEO
Related Party Transaction [Line Items]
Deferred revenue	146		146		$ 138
Affiliated Entity \| Corporate travel
Related Party Transaction [Line Items]
Selling, general and administrative	63	71	427	246
Affiliated Entity \| Payments amenity tracking compliance software
Related Party Transaction [Line Items]
Purchases from related party	$ 101	$ 109	$ 270	$ 198

Stockholders' equity (Details)

Stockholders' equity (Details) - USD ($)	3 Months Ended		9 Months Ended
Stockholders' equity (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Nov. 04, 2022
Class of Stock [Line Items]
Repurchase and retirement of common stock		$ 50,015,000	$ 126,078,000	$ 94,314,000
Share repurchase excise tax	$ 1,048,000		$ 1,048,000
Preferred stock, shares authorized (in shares)	50,000,000		50,000,000		50,000,000
Preferred stock, shares issued (in shares)	0		0		0
Preferred stock, shares outstanding (in shares)	0		0		0
2022 share repurchase program
Class of Stock [Line Items]
Stock repurchase program, authorized amount						$ 500,000,000
Remaining authorized amount	$ 374,970,000		$ 374,970,000
Pla-Fit Holdings, LLC
Class of Stock [Line Items]
Stock received during period, shares	1,417,603		3,412,312
Investor \| Secondary Offering and Exchange
Class of Stock [Line Items]
Number of units held by owners (in shares)	85,410,391		85,410,391
Investor \| Pla-Fit Holdings, LLC \| Secondary Offering and Exchange
Class of Stock [Line Items]
Percentage of economic interest			96.90%
Continuing LLC Owners \| Secondary Offering and Exchange
Class of Stock [Line Items]
Number of units held by owners (in shares)	2,733,410		2,733,410
Continuing LLC Owners \| Pla-Fit Holdings, LLC \| Secondary Offering and Exchange
Class of Stock [Line Items]
Percentage of economic interest			3.10%
Holdings Units
Class of Stock [Line Items]
Shares exchanged for Class A common stock (in shares)			1
Holdings Units \| Sunshine Fitness
Class of Stock [Line Items]
Business acquisition, equity interest issued or issuable, number of shares				3,637,678
Class A Common Stock
Class of Stock [Line Items]
Number of shares exchanged (in shares)	1,417,603		3,412,312
Number of Class A shares exchanged (in shares)	1,417,603		3,412,312
Class A Common Stock \| 2022 share repurchase program
Class of Stock [Line Items]
Repurchase and retirement of common stock (in shares)			1,698,753
Repurchase and retirement of common stock			$ 125,030,000
Class A Common Stock \| Investor \| Secondary Offering and Exchange
Class of Stock [Line Items]
Number of units held by owners (in shares)	85,410,391		85,410,391
Class A Common Stock \| Investor \| Pla-Fit Holdings, LLC \| Secondary Offering and Exchange \| Common Stockholders
Class of Stock [Line Items]
Percentage of voting power	96.90%		96.90%
Class A Common Stock \| Sunshine Fitness
Class of Stock [Line Items]
Business acquisition, equity interest issued or issuable, number of shares				517,348
Class B Common Stock
Class of Stock [Line Items]
Shares exchanged for Class A common stock (in shares)			1
Number of shares exchanged (in shares)	1,417,603		3,412,312
Class B Common Stock \| Continuing LLC Owners \| Secondary Offering and Exchange
Class of Stock [Line Items]
Number of units held by owners (in shares)	2,733,410		2,733,410
Class B Common Stock \| Continuing LLC Owners \| Pla-Fit Holdings, LLC \| Secondary Offering and Exchange \| Continuing LLC Owners
Class of Stock [Line Items]
Percentage of voting power	3.10%		3.10%

Earnings per share - Narrative

Earnings per share - Narrative (Details) - shares	3 Months Ended		9 Months Ended
Earnings per share - Narrative (Details) - shares	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Performance stock units
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	36,717	1,058	1,981	281
Holdings Units
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Shares exchanged for Class A common stock (in shares)			1
Class B Common Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Shares exchanged for Class A common stock (in shares)			1
Class B Common Stock \| Equity Unit Purchase Agreements
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	3,533,885	6,145,722	4,236,271	5,773,562
Class B Common Stock \| Stock options
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	307,606	258,093	250,595	243,507
Class B Common Stock \| Restricted stock units
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	968	705	5,684	323

Earnings per share - Reconcilia

Earnings per share - Reconciliation of Numerators and Denominators Used to Compute Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator
Net income	$ 41,324	$ 30,677	$ 110,272	$ 74,124
Less: net income attributable to non-controlling interests	2,190	3,764	7,299	8,405
Net income attributable to Planet Fitness, Inc.	$ 39,134	$ 26,913	$ 102,973	$ 65,719
Stock options
Effect of dilutive securities:
Weighted-average shares outstanding adjustment (in shares)	212,953	338,981	239,709	357,315
Restricted stock units
Effect of dilutive securities:
Weighted-average shares outstanding adjustment (in shares)	48,282	50,854	64,347	62,050
Performance stock units
Effect of dilutive securities:
Weighted-average shares outstanding adjustment (in shares)	15,562	290	8,354	1,235
Class A Common Stock
Denominator
Weighted-average shares of Class A common stock outstanding - basic (in shares)	84,609,522	84,156,488	84,557,902	84,377,324
Effect of dilutive securities:
Weighted-average shares of Class A common stock outstanding - diluted (in shares)	84,886,319	84,546,613	84,870,312	84,797,924
Earnings per share of Class A common stock - basic (in usd per share)	$ 0.46	$ 0.32	$ 1.22	$ 0.78
Earnings per share of Class A common stock - diluted (in usd per share)	$ 0.46	$ 0.32	$ 1.21	$ 0.78

Income taxes - Narrative (Detai

Income taxes - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
Income taxes - Narrative (Details) $ in Thousands	Sep. 30, 2023 USD ($) shares	Sep. 30, 2022	Sep. 30, 2023 USD ($) agreement shares	Sep. 30, 2022	Dec. 31, 2022 USD ($)
Tax Credit Carryforward [Line Items]
Effective income tax rate	24.50%	33.80%	26%	32.60%
Net deferred tax assets	$ 491,568		$ 491,568		$ 453,094
Total liability related to uncertain tax positions	328		$ 328		328
Number of tax receivable agreements \| agreement			2
Percentage of remaining tax savings			15%
Tax benefit obligation	489,762		$ 489,762		$ 494,465
Decrease in deferred tax assets	1,704		4,358
Deferred tax asset	$ 24,999		$ 77,730
Class A Common Stock
Tax Credit Carryforward [Line Items]
Number of shares exchanged (in shares) \| shares	1,417,603		3,412,312
TRA Holders
Tax Credit Carryforward [Line Items]
Applicable tax savings (in percentage)	85%		85%
Deferred tax liability	$ 14,762		$ 17,077

Income taxes - Schedule of Proj

Income taxes - Schedule of Projected Future Payments Under Tax Benefit Arrangements (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Remainder of 2023	$ 11,129
2024	38,397
2025	47,379
2026	49,868
2027	52,515
Thereafter	290,474
Total	$ 489,762	$ 494,465

Commitments and contingencies (

Commitments and contingencies (Details) $ in Thousands		3 Months Ended	9 Months Ended
Commitments and contingencies (Details) $ in Thousands	Oct. 20, 2023 USD ($) store	Dec. 31, 2022 USD ($)	Sep. 30, 2023 USD ($)
Mexico Acquisition
Loss Contingencies [Line Items]
Estimated liability for legal settlement		$ 8,550
Increase in loss contingency reserve			$ 6,250
Loss contingency reserve			$ 14,500
Mexico Acquisition \| Subsequent Event
Loss Contingencies [Line Items]
Settlement with franchisee	$ 31,619
Number of franchise stores acquired \| store	5
Pending Litigation \| Civil Action Brought By Former Employee
Loss Contingencies [Line Items]
Loss contingency, paid liability		$ 3,414

Segments - Narrative (Details)

Segments - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
Segments - Narrative (Details) $ in Thousands	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) segment	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of reportable segments \| segment			3
Number of operating segments \| segment			0
Revenue	$ 277,551	$ 244,386	$ 786,240	$ 655,504
Franchise revenue - interim CEO
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	98,165	80,746	289,691	243,373
Franchise revenue - interim CEO \| Placement Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	5,884	4,376	13,760	10,102
Corporate-owned stores
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	113,245	$ 101,330	332,885	$ 278,940
Corporate-owned stores \| International corporate-owned stores
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 721		$ 721		$ 916

Segments - Financial Informatio

Segments - Financial Information for the Company's Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenue	$ 277,551	$ 244,386	$ 786,240	$ 655,504
Total Segment EBITDA	109,734	99,266	311,813	264,776
Corporate and other
Segment Reporting Information [Line Items]
Total Segment EBITDA	(18,547)	(10,458)	(52,238)	(41,059)
Franchise revenue - interim CEO
Segment Reporting Information [Line Items]
Revenue	98,165	80,746	289,691	243,373
Franchise revenue - interim CEO \| Operating Segments
Segment Reporting Information [Line Items]
Total Segment EBITDA	67,583	53,475	198,418	167,910
Franchise revenue - interim CEO \| US
Segment Reporting Information [Line Items]
Revenue	95,209	78,873	281,836	237,612
Franchise revenue - interim CEO \| International
Segment Reporting Information [Line Items]
Revenue	2,956	1,873	7,855	5,761
Corporate-owned stores
Segment Reporting Information [Line Items]
Revenue	113,245	101,330	332,885	278,940
Corporate-owned stores \| Operating Segments
Segment Reporting Information [Line Items]
Total Segment EBITDA	44,264	40,446	126,499	103,287
Corporate-owned stores \| US
Segment Reporting Information [Line Items]
Revenue	112,080	100,247	329,505	275,962
Corporate-owned stores \| International
Segment Reporting Information [Line Items]
Revenue	1,165	1,083	3,380	2,978
Equipment revenue - interim CEO
Segment Reporting Information [Line Items]
Revenue	66,141	62,310	163,664	133,191
Equipment revenue - interim CEO \| Operating Segments
Segment Reporting Information [Line Items]
Total Segment EBITDA	16,434	15,803	39,134	34,638
Equipment revenue - interim CEO \| US
Segment Reporting Information [Line Items]
Revenue	62,605	60,952	158,335	124,781
Equipment revenue - interim CEO \| International
Segment Reporting Information [Line Items]
Revenue	$ 3,536	$ 1,358	$ 5,329	$ 8,410

Segments - Reconciliation of To

Segments - Reconciliation of Total Segment EBITDA to Income Before Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting [Abstract]
Total Segment EBITDA	$ 109,734	$ 99,266	$ 311,813	$ 264,776
Depreciation and amortization	37,477	32,572	110,254	90,427
Other income	148	4,762	631	9,000
Equity losses of unconsolidated entities, net of tax	(242)	(2)	(580)	(334)
Income from operations	72,351	61,934	201,508	165,683
Interest income	4,245	1,561	12,339	2,244
Interest expense	(21,704)	(21,917)	(64,771)	(66,527)
Income before income taxes	$ 55,040	$ 46,340	$ 149,707	$ 110,400

Segments - Company's Assets by

Segments - Company's Assets by Reportable Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	$ 2,944,847	$ 2,854,589
Operating Segments \| Franchise
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	177,045	161,355
Operating Segments \| Corporate-owned stores
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	1,624,489	1,559,985
Operating Segments \| Equipment
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	187,899	200,020
Unallocated
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	$ 955,414	$ 933,229

Segments - Company's Goodwill b

Segments - Company's Goodwill by Reportable Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Segment Reporting, Other Significant Reconciling Item [Line Items]
Consolidated goodwill	$ 717,502	$ 702,690
Franchise
Segment Reporting, Other Significant Reconciling Item [Line Items]
Consolidated goodwill	16,938	16,938
Corporate-owned stores
Segment Reporting, Other Significant Reconciling Item [Line Items]
Consolidated goodwill	607,898	593,086
Equipment
Segment Reporting, Other Significant Reconciling Item [Line Items]
Consolidated goodwill	$ 92,666	$ 92,666

Corporate-owned and franchise_3

Corporate-owned and franchisee-owned stores - Schedule of Changes in Corporate-owned and Franchisee-owned Stores (Details) - store	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Number Of Stores [Roll Forward]
Stores operated at beginning of period	2,472	2,324	2,410	2,254
New stores opened	26	29	88	100
Stores acquired, debranded, sold or consolidated	0	0	0	(1)
Stores operated at end of period	2,498	2,353	2,498	2,353
Franchisee-owned stores:
Number Of Stores [Roll Forward]
Stores operated at beginning of period	2,230	2,091	2,176	2,142
New stores opened	24	25	82	89
Stores acquired from the Company	0	6	0	6
Stores acquired, debranded, sold or consolidated	0	0	(4)	(115)
Stores operated at end of period	2,254	2,122	2,254	2,122
Corporate-owned stores:
Number Of Stores [Roll Forward]
Stores operated at beginning of period	242	233	234	112
New stores opened	2	4	6	11
Stores acquired from the Company	0	0	4	114
Stores sold to franchisees	0	(6)	0	(6)
Stores operated at end of period	244	231	244	231