Cult.fit posts Rs 1,720 cr revenue, EBITDA positive and files IPO prospectus

Fitness platform Cult.fit reported FY26 operating revenue of Rs 1,720 crore, a 41% year‑on‑year increase, and posted a positive adjusted EBITDA of Rs 144.8 crore, narrowing its net loss to Rs 252 crore. The company’s revenue was driven mainly by its subscription services, which contributed 64% of the total.

Cult.fit has filed a Draft Red Herring Prospectus for an initial public offering that includes a fresh issue of shares worth up to Rs 950 crore and an offer‑for‑sale of up to 17.86 crore shares by existing investors such as Temasek, Tata Digital, Accel and Kalaari Capital. The DRHP highlights several risks: auditor‑identified gaps in data controls at premium centres, heavy reliance on four metropolitan markets that supplied over 90% of services revenue, limited control over franchised and marketplace gyms, delayed statutory dues, and pending litigation of roughly Rs 55 crore against subsidiaries and Rs 488 crore against directors.