Soul Cycle IPO

soulcycle

Not even a day has passed since we reported that Barry’s Bootcamp has raised money from North Castle Partners, and now Soul Cycle has just filed papers for an IPO.  Excerpted from their filings:


Our community’s passion for our brand has helped us to deliver strong financial and operating performance, as illustrated by the following:

• Expanded studio count from 12 studios in 2012 to 36 studios in 2014, representing a compounded annual growth rate “CAGR” of 73%;

• Increased classes conducted and rides from approximately 25,000 and 969,000 in 2012 to over 81,000 classes and 2.9 million rides in 2014;

• Expanded total revenue from $36.2 million in 2012 to $112.0 million in 2014, representing a CAGR of 76%;

• Increased Adjusted EBITDA from $11.2 million in 2012 to $35.7 million in 2014, representing a CAGR of 78% and an Adjusted EBITDA Margin of 32% in 2014; and

• Increased income from operations from $7.8 million in 2012 to $26.5 million in 2014.