Dan Caplinger

It does.

I'm a Planet Fitness member as well.

I'm a Black Card member.

I do a lot of traveling and Planet Fitness has a vast network of locations all around the country that is extremely convenient for me.

The machinery is generally pretty standardized, so I can generally expect to get the same workout in regardless of where I go.

It's been a huge value to me.

Sammy, I think it's a great pick.

I'm curious, when you're looking at this company, when you're looking at Planet Fitness, what kind of key performance indicators do you look at?

Do you look at black card mix versus non-black card mix?

Do you look at how many members are signing up and doing the upgrade for the black card?

Do you look at folks that are giving the black card up and just going with the local gym membership?

Like, what are you focused on here?

Because, yeah, these things, you know, we just went through another January where, you know, yeah, a whole bunch of people started coming in.

Now it's mid-February.

A whole bunch of those people have stopped coming in.

And so I'm just curious what you look at in this company.

I'm looking at the retail sector, and I'm looking at the particular macroeconomic environment that we're in right now.

We've got this K-shaped economy.

You've got higher-income wealthy folks.

They're still doing really well, they're still spending.