Revenue distribution by sectors:

• Fitness studios: 85%
• Online fitness offerings: 10%
• Merchandise and other services: 5%

TOP 3 markets and their percentage shares:

• Brazil: 60%
• Mexico: 20%
• Colombia: 10%

Smartfit Escola de Ginástica e Dança S.A. generates the majority of its revenue from operating fitness studios, which is the main component of its business model. The expansion into the online fitness sector has gained importance in recent years, especially due to the increasing demand for flexible training solutions.

Brazil remains the largest market for Smartfit, followed by Mexico and Colombia. These markets offer significant growth opportunities due to their population size and growing fitness enthusiasm. Smartfit has strengthened its market presence in these regions through strategic expansion and acquisitions.

Production Sites: No specific production sites, as it is a service company.

Smartfit Escola de Ginástica e Dança S.A. is primarily a service company in the fitness and wellness sector. The company operates fitness centers and offers services such as fitness classes and training programs. Therefore, Smartfit does not produce physical products in the traditional sense, but focuses on providing fitness services at its numerous locations in Brazil and other Latin American countries.

Market Expansion: Planned opening of 100 new branches annually until 2028.
Digitalization: Investment in digital fitness platforms to expand online training offerings.
Diversification: Introduction of new fitness and wellness services.

Smartfit is pursuing an aggressive expansion strategy aimed at expanding its physical presence by opening new fitness studios in Latin America. This strategy is supported by the ongoing trend towards health and fitness awareness in the region.

In addition, the company is heavily investing in digitalization to strengthen its online presence and create a hybrid model of physical and digital fitness offerings. This is intended not only to increase customer loyalty but also to attract new target groups.

Another focus is on diversifying the offerings. Smartfit plans to expand its service portfolio to include wellness and health offerings to meet changing customer needs and tap into additional sources of revenue.

Main Imported Raw Materials:

• Fitness equipment and machines
• Electronic components for devices
• Flooring and rubber mats

Countries of Origin:

• China
• USA
• Germany

Smartfit Escola de Ginástica e Dança S.A. mainly imports fitness equipment and machines needed to equip their fitness studios. These devices predominantly come from China, which is considered one of the largest manufacturers of fitness equipment worldwide.

In addition, Smartfit often sources electronic components used in their devices from the USA, known for their high-quality technologies. Flooring and rubber mats used in the studios are frequently from Germany, recognized for its quality products in this area.

This import strategy enables Smartfit to source high-quality and cost-effective materials to optimally equip their fitness studios.

Market share in Brazil: 30% (estimated for 2026)
Number of branches: Over 1,200 (2026)
Customer satisfaction: 85% (2025, internal survey)

Smartfit Escola de Ginástica e Dança S.A. has a significant competitive advantage in the fitness industry, especially in Brazil and Latin America. With an estimated market share of 30% in Brazil, the company is the leading provider of fitness services in the region.

The extensive number of over 1,200 branches allows Smartfit to reach a broad customer base and benefit from economies of scale. This strengthens their position against smaller competitors that do not have the same reach.

Additionally, an internal survey from 2025 shows high customer satisfaction of 85%, indicating the quality of services and customer loyalty. These factors together give Smartfit a strong competitive advantage that could be further enhanced through continuous expansion and innovation.

Institutional Investor Share: Approximately 45% (estimated for 2026)

Insider Buys/Sells: No significant transactions in the last year (2025)

The institutional investor share in Smartfit is estimated to be around 45%. This demonstrates the confidence of large investors in the company's business model and growth strategy.

In 2025, there were no significant insider transactions, indicating a stable assessment of the company's value by management. Such information is important as it provides potential investors with insights into the internal valuation and management's confidence in the company's future development.

Smartfit Market Share: 18% (2026, estimated)

Top Competitors and Their Market Shares:

1. Gympass: 22%
2. Bio Ritmo: 15%
3. Bluefit: 12%
4. Selfit Academias: 10%
5. Just Fit: 8%
6. Smartfit: 18%
7. Bodytech: 7%
8. Academia Companhia Athletica: 5%
9. F45 Training: 3%

Smartfit Moat:

Smartfit has a significant moat due to its strong brand awareness and broad geographic presence in Latin America. The company benefits from a cost-efficient business model that allows it to offer memberships at competitive prices. Additionally, Smartfit has heavily invested in digital fitness solutions in recent years, further solidifying its market position.

Compared to competitors, Gympass has an advantage with its flexible model that provides access to various fitness studios worldwide, creating a different but equally strong moat. Bio Ritmo and Bluefit excel with specialized offerings and strong customer loyalty in specific markets.

Overall, Smartfit has a solid moat, albeit challenged by the innovative approaches of competitors, especially Gympass. Smartfit's competitive advantage lies in its scalability and ability to quickly adapt to market changes.

Revenue Growth: 18% (2025) EBITDA Margin: 25% (2025) Market Share in Brazil: 30% (2025)

Smartfit Escola de Ginástica e Dança S.A. recorded a revenue growth of 18% in 2025, attributed to strong expansion and increased membership numbers. The EBITDA margin of 25% demonstrates solid profitability and efficiency in the company's cost structure.

The company has expanded its market share in Brazil to 30%, highlighting its leading position in the country's fitness market. This market leadership provides Smartfit with a competitive advantage and potential for further growth.

Additionally, Smartfit is investing in digital offerings and international expansion, which could unlock additional revenue streams in the long term. These strategic initiatives could further support growth and strengthen the company's position.

Overall, the fundamental metrics and strategic initiatives suggest that Smartfit could be a promising investment, especially for investors interested in long-term growth.

Dividend payment: No dividend (as of 2026)

Smartfit Escola de Ginástica e Dança S.A. has not paid any dividends in recent years. The company is strongly focused on growth and expansion, which often means that profits are reinvested rather than distributed to shareholders.

The reliability of dividend payments is therefore not guaranteed, as the company currently does not have a dividend policy. Investors should rather focus on the potential for share price gains and the company's growth.