F45 Training Holdings Inc.
|Company Name||F45 Training Holdings Inc.|
On July 26, 2022, after the market closed, F45 issued a “Strategic Update,” disclosing that it now expects its fiscal 2022 revenue “between $120 million and $130 million, compared to the prior guidance of $255 million to $275 million.” Based on a “comprehensive review of its strategic and financial priorities,” the Company would reduce its global workforce by about 110 positions. F45 also announced that its founder, CEO, and President, Adam Gilchrist, has stepped down.
On this news, F45’s stock fell $2.16, or 61.5%, to close at $1.35 per share on July 27, 2022, thereby injuring investors.
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