IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — Xponential Fitness Inc. (XPOF) on Thursday reported a loss of $2.9 million in its first quarter.

On a per-share basis, the Irvine, California-based company said it had a loss of 30 cents. Earnings, adjusted for non-recurring costs, were 16 cents per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.

The franchisor of boutique fitness brands posted revenue of $79.5 million in the period, meeting Street forecasts.

Xponential Fitness expects full-year revenue in the range of $340 million to $350 million.

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