For the full year 2021, the Company is projecting revenue and adjusted EBITDA to be around USDm 1,300 and USDm 80 to 84, respectively. In early October, the Company closed its initial public offering ("IPO") and received net proceeds of approximately USDm 670 after deducting underwriters' discounts, commissions and other offering expenses. Upon completion of the IPO, the Company paid down USDm 576 (including a USDm 6 pre-payment penalty) of its senior secured term loan facility.

Bahram Akradi, founder, Chairman and CEO, stated: "Our third quarter results reflect the continued momentum of our business, and I'm particularly pleased with our performance despite nearly 20% of our centers experiencing additional COVID-19 masking and other related restrictions during the quarter. While the near-term slope of our COVID-19 recovery curve continues to be somewhat difficult to predict, we remain confident that our strategy is working and we expect to continue our recovery at a strong pace. We are gaining market share, which gives us confidence that we are on the path to a full recovery of our 2019 results. Additionally, we believe we have significant opportunities to continue expanding our portfolio of premium clubs with 10 or more planned new centers annually for the foreseeable future in increasingly affluent markets."

Quelle: Life Time, Inc.
Bild: Life Time, Inc.