Here are 1-3 brief analogies to describe Life Time (LTH):

• The Four Seasons of health and fitness clubs.
• A Whole Foods Market for comprehensive health, fitness, and wellness services.

• Club Memberships: Provide access to state-of-the-art health clubs, fitness equipment, and a wide array of amenities.
• Personal Training & Coaching: Offer individualized fitness, nutrition, and wellness guidance from certified professionals.
• Group Fitness & Athletic Classes: Deliver a diverse range of instructor-led fitness, mind-body, and sports-specific programs.
• Spa, Salon & MedSpa Services: Encompass health, beauty, and recovery treatments, including massages, facials, and advanced aesthetic services.
• LifeCafe & Nutrition Services: Feature healthy dining options, smoothies, and expert nutritional guidance available within clubs.
• Kids Academy Programs: Provide structured fitness, educational, and recreational activities and childcare for children.
• Life Time Digital: Offers virtual fitness classes, personalized programs, and wellness content accessible through digital platforms.
• Life Time Work: Integrated co-working spaces providing a productive and healthy work environment within or adjacent to clubs.

Life Time (symbol: LTH) primarily sells memberships and services directly to individuals and families, rather than to other companies. As such, it operates on a business-to-consumer (B2C) model.

Life Time serves a diverse base of individual customers, which can be broadly categorized into the following:

1. Families and Households: This category includes parents and and children who utilize Life Time's extensive family-friendly amenities, such as the Kids Academy, family pools, sports courts, and various group activities designed for all age groups. These members often seek a complete lifestyle solution for their entire household.

2. Individual Adults (Wellness & Lifestyle Seekers): Comprising professionals and other adults (with or without children) who are drawn to Life Time for its premium fitness facilities, high-end spa services, social opportunities, and often its dedicated co-working spaces (Life Time Work). These members value the luxurious environment, comprehensive offerings, and convenience.

3. Serious Athletes and Fitness Enthusiasts: This segment includes individuals highly focused on advanced fitness training, competitive sports (e.g., tennis, pickleball, swimming, cycling), specialized group fitness classes, and performance-oriented facilities. They seek state-of-the-art equipment, expert coaching, and a community of like-minded individuals to support their athletic pursuits.

Bahram Akradi Founder, Chairman, and Chief Executive Officer

Bahram Akradi founded Life Time (NYSE: LTH) in 1992, aiming to redefine the health and wellness industry. Prior to Life Time, he co-founded and served as Executive Vice President and part owner of U.S. Swim & Fitness Corporation (formerly Nautilus Fitness Center, Inc.) from 1984 to 1989. U.S. Swim & Fitness was sold to Bally Total Fitness in 1986. In March 2015, Life Time was acquired by private equity firms TPG Capital and Leonard Green & Partners in a leveraged buyout. He continues to lead Life Time, which has grown to over 185 athletic country clubs across the United States and Canada.

Erik Weaver Executive Vice President, Chief Financial Officer

Erik Weaver was appointed Executive Vice President & Chief Financial Officer of Life Time effective August 1, 2024, after serving as Interim Chief Financial Officer since January 1, 2024. He joined Life Time in 2004 and has held increasingly responsible roles, including Assistant Controller from 2016 to 2018, Vice President and Controller from 2018 to April 2022, and Senior Vice President and Controller, as well as principal accounting officer, since April 2022. In his role, Erik oversees all aspects of Life Time's financial operations, including accounting, financial reporting, and tax functions. He holds a Master of Business Administration from Hamline University and a B.S. degree in accounting from St. Cloud State University.

Eric Buss Executive Vice President, Chief Administrative Officer

Eric Buss joined Life Time in September 1999 and has played a central role in the company's evolution. During his tenure, he has served as both Chief Financial Officer and General Counsel. He has been instrumental in key transactions, including the company's IPO, its go-private leveraged buyout, various financing transactions, major acquisitions, and new business launches. Currently, Eric oversees human capital, legal, risk management, and corporate communications, among other administrative functions. Prior to Life Time, he worked as an attorney at Faegre & Benson LLP and as a staff auditor at Arthur Andersen LLP.

Parham Javaheri Executive Vice President, President Club Operations and Chief of Property Development

Parham Javaheri oversees club operations and property development for Life Time. Since joining the company in 2004, he has served in multiple roles, leading the real estate and development team since 2014. He also has executive oversight of all Life Time club operations across the United States and Canada. Javaheri brings over 20 years of expertise in property development, supporting the company's expansion through new club prototypes, redevelopment, and the creation of mixed-use lifestyle centers.

RJ Singh Executive Vice President, Chief Digital Officer

RJ Singh joined Life Time in 2017 and serves as the Executive Vice President and Chief Digital Officer. Before joining Life Time, he was the Vice President of Information Technology at Lifetouch from 2013 to 2017, where he was responsible for corporate technology functions including IT Shared Services, Infrastructure and Operations, Corporate Application Development, and IT Security. From 2007 to 2013, Mr. Singh held positions as Vice President, IT Strategy and Planning and Chief Architect, Director of Enterprise Architecture at Blue Cross and Blue Shield of Minnesota.

The clear emerging threat to Life Time (LTH) is the continued and accelerating adoption of high-quality, comprehensive at-home fitness and wellness platforms. Companies like Peloton, Apple Fitness+, Tonal, and Mirror offer a wide range of instructor-led classes, personalized training, and integrated hardware experiences that allow consumers to achieve fitness goals conveniently from their homes. This trend, accelerated by recent global events, presents a compelling alternative to traditional, high-cost, physical club memberships for a significant portion of the population primarily seeking fitness and wellness solutions. While Life Time provides a broader luxury lifestyle experience encompassing social interaction, extensive facilities (pools, courts), spa services, and co-working spaces, the ability for consumers to meet their core fitness needs effectively and conveniently at home threatens to erode the perceived value and necessity of a premium, all-inclusive membership for a substantial segment of potential and existing members.

Life Time (NYSE: LTH) operates in several key markets related to health, fitness, and wellness. The addressable markets for their main products and services primarily within the United States are as follows:

• Health and Fitness Club Market: Life Time's core offering revolves around its luxury "athletic country clubs," providing premium fitness and wellness experiences. The United States Health and Fitness Club Market was estimated at USD 37.81 billion in 2023 and is projected to reach USD 52.66 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2030. Other estimates place the U.S. Health and Fitness Club Market at USD 4.40 billion in 2023, anticipated to exceed USD 6.96 billion by 2033 with a CAGR of 4.69% from 2023 to 2033. Another report valued the United States Health And Fitness Club Market size at USD 4.62 billion in 2024, projected to reach USD 6.71 billion by 2032, growing at a CAGR of 4.79% from 2026 to 2032. Globally, the health and fitness club market reached approximately USD 101.45 billion in 2024 and is expected to grow to USD 157.6 billion by 2029.
• Nutritional Supplements and Wellness Products: Life Time offers its LTH-branded line of supplements and wellness products. The U.S. wellness and fitness products market was estimated at USD 28.46 billion in 2023 and is expected to grow at a CAGR of 6.1% from 2024 to 2030, reaching USD 42.68 billion by 2030.
• Co-working Spaces: Life Time also provides co-working spaces through its "Life Time Work" offering. The United States Coworking Office Space Market was valued at USD 2.0 billion in 2024 and is projected to reach USD 4.57 billion by 2032, growing at a CAGR of 10.9% from 2026 to 2032. Another source estimates the U.S. Co-Working Space Market size at USD 2.1 billion in 2023, predicted to reach USD 7.1 billion by 2030, at a CAGR of 18.7% from 2024 to 2030. The United States Co-Working Office Space Market is also estimated at USD 4.99 billion in 2025 and is expected to reach USD 7.38 billion by 2030, at a CAGR of 8.13% during the forecast period (2025-2030).
• Connected Fitness Services: Life Time's complimentary app offers on-demand and livestream classes. The U.S. connected fitness services market size was estimated at USD 1.25 billion in 2024 and is projected to reach USD 7.61 billion by 2033, growing at a CAGR of 23.2% from 2025 to 2033.
• Senior Living/Assisted Living (Healthy Aging): While Life Time emphasizes "healthy aging" within its ecosystem, direct market sizing for Life Time's specific offerings in this area is not explicitly detailed as a standalone product line in the provided search results beyond the general "healthy aging" concept within their athletic country clubs. However, for context, the U.S. assisted living facility market size was estimated at USD 44.38 billion in 2024 and is expected to reach USD 93.54 billion by 2033, growing at a CAGR of 8.69% from 2025 to 2033. The United States senior living market size is USD 72.11 billion in 2025 and is forecast to reach USD 96.55 billion by 2030, advancing at a 6.01% CAGR. The global senior living market is estimated to be valued at USD 260.12 billion in 2025 and is expected to reach USD 388.55 billion by 2032, exhibiting a CAGR of 5.9%.

Life Time (LTH) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Membership Growth: The company consistently highlights an increase in both access and total memberships as a primary revenue driver. Life Time has reported growth in center memberships, with projections indicating continued expansion of its customer base.

2. Increased Revenue per Membership: Life Time is benefiting from higher membership dues and increased member engagement in its in-center activities and offerings. This includes leveraging its premium service offerings to generate higher average revenue per access membership and average monthly dues.

3. New Center Openings and Expansion: A significant driver of growth involves the expansion of Life Time's physical footprint. The company plans to open 10-12 new centers in 2025, focusing on large-format, ground-up construction builds. This expansion includes growth from new and ramping centers and is facilitated by an asset-light expansion strategy designed for rapid growth with lower capital expenditure.

4. Growth of Digital and Lifestyle Offerings: Life Time is investing in digital capabilities, such as an integrated digital app and an AI-driven personal companion called L•AI•C. Additionally, initiatives like the "Everyday Well Challenge" and hosting iconic athletic events are designed to foster member engagement, broaden the audience, and provide a competitive edge.

5. Targeting Affluent Markets: Life Time's strategic focus on affluent markets, characterized by higher-income members, contributes to higher average revenue per membership. This approach ensures a stable membership base and aligns with their strategy of offering high-end health and wellness experiences.

Share Issuance

• On October 12, 2021, Life Time consummated its Initial Public Offering (IPO) of 39.0 million shares at a price of $18.00 per share, resulting in net proceeds of $674.3 million.
• In February 2025, a secondary offering of 23,000,000 shares by certain selling stockholders generated gross proceeds of $699.2 million; however, Life Time itself did not receive any proceeds from this sale.
• Another secondary offering of 20,000,000 shares by selling stockholders in June 2025 priced at $590.0 million, with Life Time receiving no proceeds from the transaction.

Outbound Investments

• Life Time made two acquisitions in 2021, including Craig Ranch Fitness in December 2021 and Sea Otter Classic in August 2021.
• The company intends to complement its organic growth strategy by acquiring athletic centers, services, and experiences.

Capital Expenditures

• For the nine months ended September 30, 2025, capital expenditures totaled $327.9 million, consisting of $222.5 million for growth, $79.3 million for maintenance, and $26.1 million for modernization.
• In 2024, estimated capital expenditures were approximately $470 million, with $285 million allocated to growth CapEx and $185 million to maintenance CapEx.
• Life Time is pursuing a "capital-light" expansion model, increasingly utilizing leased or co-developed clubs and sale-leaseback transactions to fund new centers, which typically cost $25-30 million in net invested capital per location.