XP Factory (XPF) , the experiential leisure company operating the Escape Hunt and Boom Battle Bar brands, issued a trading update for Q3 of its fiscal year ending March 31, 2025, including the high-volume Christmas and New Year period.
XPF reported strong seasonal performances by both Escape Hunt and Boom Battle Bar. Boom delivered 17.4% LFL sales growth in the 5 weeks to January 2025, and Escape Hunt recorded a 14.3% LFL sales growth in the same period. 20 Booms sites and 8 Escape Hunt sites saw record sales over the Christmas period. Overall, XPF delivered 8.5% LFL sales growth in Q3 ended January 5, up from 3.9% in 1H25.
For the 40 weeks to January 5 (Q1-Q3), Escape Hunt saw total sales of £11m, representing 5.3% LFL growth YTD. In the same period, Boom delivered £31m of revenues, representing 5.9% LFL growth YTD. XPF said its newest unit in Cambridge, opened in early December, "performed particularly well" for both brands, exceeding expectations.
XPF confirmed that it was on track to meet FY25 market expectations.
Richard Harpham, CEO of XP Factory, commenting: "We are delighted with the exceptional performances achieved in both our brands over the important Christmas period. The recent performance coupled with our accelerated growth strategy provide an exciting and clear path to value creation, capitalising on the growing and positive long-term trends in favour of experiential leisure."
View from Vox
XP Factory delivers excellent Q3 2025 performance across its two experiential leisure brands, including over the key holiday period, boosted by strong corporate bookings. Both brands delivered strong double-digit sales growth in December, and steady growth in the Q1-Q3 period. Boom's performance in December marks a significant rebound from the same period in 2023, while Escape Hunt achieved its highest ever sales week between Christmas and New Year.
The strong performances from both brands offset the comparatively softer summer period, putting XPF firmly on track to meet full-year market expectations. Additionally, XPF's new Cambridge site outperformed and exceeded management expectations, now being one of the group's highest performing units and supporting good visibility into FY26 for both brands.
The positive Q3 performance validates XPF's growth strategy, outlined in its most recent interim results. Last year, XPF secured a £10m revolving credit facility with Barclays to fund the strategy, aiming for £90m of sales and £13m group EBITDA within 4 years, with an underlying run-rate revenue of £100m and a 15% Group EBITDA margin.
Growth should come from further expansion of the estate, facilitated by ongoing robust cash generation and the new debt facility, targeting average debt:EBITDA ratios of c. 1.0x. Additionally, XPF plans to restructure its balance sheet to enable share buy-backs and create capacity for future dividend payments.
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