[Operator Instructions] At this time. I mean, this really is and I guess, the biggest and most important kind of part of the question at this point. Should we expect that to be a headwind on the comp when we do year-over-year? The only question is, how long does it take to get there? And I know it's a really hard question, but I mean, assuming that and I think a lot of people kind of think we get a vaccine at some point by early 2021, mid-2021, maybe at the latest. In terms of the new gyms and new placements that we could actually expect? We continue to focus our marketing efforts on the robust cleaning and sensitization policies and procedures to instill confidence in reassurance that Planet Fitness is doing everything we can to keep our employees and members safe. We also recognized $3.1 million of NAF contributions in the second quarter that were also deferred from Q1. Our cost of revenue was primarily relates to direct cost of equipment sales to new and existing franchise owned stores amounted to $8.5 million compared to $54.4 million a year ago, a decrease of 84.4%, in line with the revenue decrease, as previously discussed. Whereas in last year's Q2, membership per store increased by approximately 3% or 190 members. 1,426 of these stores are franchisee locations and 51 are corporately owned stores. A quick follow up to Black Card penetration going forward. Beginning in Q2, we launched a 15% discount offer to all on all equipment orders to support our new store development and replacement orders. So they've been really very financial prudent during this process leading up to where we are today. And so they're dealing more with the immediacy of that than they are out there trying to release space. I've heard you on my few calls recently with some interviews is that we're definitely the solution here to this and not the problem. After growing consistently each week, usage has plateaued at about 60% average compared to prior year. As we mentioned on our Q1 call, 1,875 of our 2,039 stores drafted monthly membership dues in March, and then closed shortly thereafter. So of the PPs in the store they're using the same amount, which is great to see. And OK. That's super helpful. I know you certainly mentioned the potential to see consolidation across the industry. That means they're not they still have to pay them. Our securitized debt structure is covenant light. In addition, we ended the quarter with $86.4 million of restricted cash compared to $63.2 million at the end of Q1. Yes, from an equipment standpoint, it's hard to understand what would have been because as things have evolved, franchisees, new store development, and Dorvin, feel free to add, have has shifted as well based on whether a store sorry, whether a state has remained closed, in a couple of cases, has reclosed. So in the thing is once we open, it's a different story. Revenue decreased $60.3 million to $9.8 million from $70.2 million. And for the most part, they're waving as long as the stores are closed, and then they're going to revisit the metrics upon reopening, which is the franchisee share with them for their own stores. So the commitment is sort of the same. So after that June 17 billing, we begin to see that spike. Your next question comes from the line of Sharon Zackfia of William Blair. Before we share our Q2 results, I want to express my sincere appreciation to our dedicated employees on the front lines of our stores, at our corporate headquarters and our franchisees for how they have supported our business and our members during this unprecedented time. All rights reserved. In the second quarter, we had 14 new store equipment placements, which was down 41 from the prior year period. The decrease reflects the lower net store placements we executed in the quarter compared with a year ago, as I just outlined. I think the ads question, I think the bigger question now is back to what I just mentioned here is from an acquisition standpoint, are we going to be able to drive a lot of high acquisition join on exploration dates, for example, is it just more rebranding and reassurance messaging, which is yet to be seen. It's just been pushed out in next 12 months. And at any point in time, if you go back and look now, the past three, four, five years or so, generally, about half of those are required to be developed over the next three years. So like the Texas, the Florida Arizona, for example, those are also skew slightly higher than the peers here and through out the rest of the country. So the question is, now that these people are going through the first second round does it get back to more normalcy, right? Now in terms of longer term, I think the moats are going to be greater. Yes, John, this is Dorvin. Yes, this is Chris. Included in this quarter's adjusted EBITDA is approximately $14.3 million related to the recognition of deferred revenue previously discussed. Excited about the second half of the year. Chris? [Operator Instructions] Your first question comes from the line of Jonathan Komp of Baird. And that's just really, at this point, John, it's just still too much of an unknown. Is that what you're... No, no, at a corporate level. Once we kind of get past some of these issues and get all of our clubs up and running again, it could clearly be the franchisees might do some catch up and get caught back up on what they were going to do this year versus what they would be required to next year. So those club definitely long they're open, we're getting up into that 80-plus and somewhere actually almost on power last year. Typical average store, how it opened up in its first month segment that it was doing very similar to the past. They opened the stores in North Carolina, for example, if they open tomorrow, they're not building their first bill cycle until September. Can you say how many units are actually in some form of either signed lease or groundbreaking for the second half of 2020, from a company and a franchise perspective? So I think we've just got to wait for the consumers to get a little bit more comfortable he had to begin to venture out and start to work out again. Franchise segment revenue was $21.0 million compared to $71.8 million in the prior year period. I'll talk about joining the cancels and Tamica fill in on the part there. We look forward to reopening more stores in the future as states and municipalities allow to further provide our communities with much needed access to health and fitness. And I think the only other thing I'd add, as we've talked about before, we've been in touch with lenders and through these franchise business reviews to the extent that a franchisee had really a modest amount of debt from a leverage standpoint. And then Tom or Dorvin, what's the right way to think about your ability to flex SG&A and store ops at various levels of revenue for the rest of the year? Your line is open. As now, we have three quarters of the stores open, hopefully, the next 500 or so will get the green light shortly, which time will tell, and it's very fluid at this point on those that the second half of the year, as we now collect in the NAF again, which is the 2% on EFT, we're lining up to probably start the first natural sales in September. I was curious, what's the key difference or differences in those stores that are approaching 20% usage index? I would love any color there to the extent that you can provide it. To receive updates for this company you can register by emailing [email protected] or by clicking get investment info from the company’s profile. Thank you, everybody. Of the decline in growth in June from Q1 levels, approximately 85% was due to a drop in net member growth and the balance being a decrease in rate growth. Your line is open. National advertising fund expense was $10.9 million compared to $12.5 million in the prior year period. This includes measures such as personal protective equipment for all staff; enhanced cleaning efforts using disinfection on the EPA list as effective against COVID-19; taxis check in physical distancing measures, whereby certain pieces of equipment are marked out of use to ensure additional space team members and much more. Planet 13 Holdings will host a conference call on June 1st, 2020 at 5:00 p.m. EST to discuss its first quarter financial results and provide investors with key business highlights. Health and wellness is more important now than ever. Your line is open. Cumulative Growth of a $10,000 Investment in Stock Advisor, Planet Fitness Inc (PLNT) Q2 2020 Earnings Call Transcript @themotleyfool #stocks $PLNT, Here's Why Over 1 Million People Have Quit Planet Fitness Since July, Why Planet Fitness Stock Just Spiked and Is Approaching All-Time Highs, Planet Fitness Inc (PLNT) Q3 2020 Earnings Call Transcript, 3 Stocks That Will Only Get Stronger After the COVID-19 Vaccine, Copyright, Trademark and Patent Information. On today's call are Chris Rondeau, Chief Executive Officer; Dorvin Lively, President; and Tom Fitzgerald, Chief Financial Officer. Which was the same thing that happened in Q1, we were up against the Black Card sales. So they're all financially sound, working with lenders who are being accommodating. SG&A for the quarter was $15.9 million compared to $18.9 million a year ago. Upon reopening our stores in early May, we had approximately 15.4 million members. As the third quarter got under way and consumer settlement begin to shift with the uptick of COVID-19 cases across the country, we are seeing a pent-up demand taper off and joint starting to stabilize as clubs have been open longer. I understood. To your point, on the real estate availability side, I don't think we've seen the full fallout yet as to what real estate availability is going to look like. These forward-looking statements reflect Planet Fitness' judgment and analysis only as of today, and actual results may differ materially from current expectations based on a number of factors affecting Planet Fitness' business. But I wouldn't say that the spread is that drastic. So that will just get recognized whenever those stores reopen. For additional questions, you can call us at (702) 815 1313 or you can find us on Yelp and Leafly. Regarding the cancellations that you're seeing, what would you say is ahead that's most within your control to manage that? Thank you, Brendon, and thank you, everyone, for joining us today. That's helpful, Chris. Chris, any way to quantify gross adds versus cancellations? I mean, moms and pops, as I mentioned earlier, definitely, we're getting the franchisees of the Kong that the one E2s and even corporately, we've had a couple of heralding that the competitive dentistry, they call it direct, they're not going to open. NEW YORK, NY / ACCESSWIRE / August 30, 2019 / Planet 13 Holdings, Inc. (OTCQX: PLNHF) will be discussing their earnings results in their 2019 Second Quarter Earnings to be held on August 30, 2019 at 8:30 AM Eastern Time. We've had even corporate, we've had about 85% retention of our employees as they've come back from furlough. Our comps are not based on what happened in the last month, but based on what's happened in the last 12 months. So as you know, the join billing day for our members the 17th of the month, and we started opening up beginning of May. I think back to my previous question from the first John comp is that we believe that most of these cans machines today are draft related. So 72% of stores open, is that enough to cover kind of all of the corporate G&A and so on with the organization?

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