Orangetheory Fitness FDD: What Changed from 2025 to 2026
The 2026 Orangetheory Fitness FDD reduces the high end of the Item 7 estimated initial investment from $1,377,160 to $1,104,920 (−$272,240, −19.8%) and the low end from $821,622 to $764,577 (−$57,045, −6.9%), while the system contracts by 74 studios to 1,224 (−5.7%).
Item 7 — Estimated Initial Investment
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Low end of range | $821,622 | $764,577 | −$57,045 |
| High end of range | $1,377,160 | $1,104,920 | −$272,240 |
| Full range | $821,622–$1,377,160 | $764,577–$1,104,920 |
Both ends of the Item 7 range move down between filings, narrowing the overall investment band from $555,538 to $340,343.
Item 20 — System Size (Outlet Count)
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Total outlets (Item 20) | 1,298 | 1,224 | −74 (−5.7%) |
Orangetheory reports 1,224 US studios in the 2026 FDD, down 74 from 1,298 in the 2025 filing.
Item 19 — Financial Performance Representations
Orangetheory Fitness included an Item 19 financial performance representation in both the 2025 and 2026 filings.
Item 6 — Ongoing Fees
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Royalty rate | 8% | 8% | unchanged |
The ongoing royalty rate remains 8% of Gross Sales between filings.
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