CHANHASSEN, Minn. (BRAIN) — Life Time Group Holdings, the parent company of events including the Sea Otter Classic, Unbound Gravel and Leadville 100, announced that its sales were up 18.9% in the second quarter to $667.8 million. Life Time's net income was $52.8 million, increased by $35.8 million over the same period last year while EBITDA of $173.5 was up 27.6%.
Life Time gets the vast majority of its business in the fitness club business; it operated 175 clubs at the close of the quarter. It did not mention its bike events in its quarterly report. Life Time's "other" revenue from outside its fitness center businesses increased to $39 million in the first half this year, up from $33 million in the period last year.
"We are very pleased with our second quarter performance and the progress we have made toward achieving our financial objectives," said Bahram Akradi, Life Time's founder, chairman and CEO. "Once again this quarter, our results demonstrate the momentum of our business as we continue to deliver strong revenue and adjusted EBITDA growth."
