Life Time's Premium Play Delivers 13.7% Revenue Growth

Life Time’s second quarter is the cleanest evidence yet that the top of the market absorbs price increases the median operator can only attempt. Revenue grew 13.7% to $866.0 million, net income rose 40.6% to $101.4 million and adjusted EBITDA climbed 16.8% to $246.5 million — clearing the industry’s 2025 median revenue growth of 10.7% reported in the HFA’s 2026 Global Report, and by a wide margin on the profit line.

The membership math sharpens the outperformance. Center memberships of 860,041 grew just 1.2% year over year (2.6% quarter over quarter), so nearly all of the revenue growth came from what members pay and how they use the clubs — not headcount. The company is pressing the model forward with 14 new clubs planned for 2026.

“We delivered strong second quarter results, driven by our continued focus on delivering exceptional member experiences across our clubs. That focus is translating into higher engagement, increased utilization of our in-center offerings and continued optimization of our membership mix.”

— Bahram Akradi, founder, Chairman and CEO, Life Time Group Holdings

One detail deserves operator attention: the company noted a significant reduction in insurance-administered qualified memberships — a lower-dues mix it is consciously trading away. That is the premium bet in miniature: step off subsidised, low-yield membership and monetise engagement directly.

For an industry whose median EBITDA margin sits at 22.1%, Life Time’s quarter is a reminder that the median is not the ceiling. The top of the market is compounding on experience, utilisation and mix — while the median fights for members.