This isn’t Las Vegas. What’s published on LinkedIn doesn’t stay on LinkedIn. That’s especially true when you brag about your accomplishments while working at CrossFit HQ.
Luke Landry, who is serving as the Interim CFO for CrossFit after Dalibor Snyder left the organization, has listed out some of his biggest accomplishments on LinkedIn while working for CrossFit over the past three years.
Landry also served as the Interim CFO from October 2023 to October 2024 prior to Snyder being hired.
Landry’s resume gives some insight into the company’s financial situation these past few years and sheds some light into some of the things that were rumored while Berkshire Partners was trying to sell the company last year.
Let’s take a look at Landry’s LinkedIn resume:
Remember when Wade Diebner (the “Diebs”) said that CrossFit was going to go bankrupt if Berkshire didn’t sell him the company?
Yeah this one…
Well, maybe he wasn’t too far off depending on when you looked at the financials.
We don’t have exact dates but CrossFit was clearly bleeding money in the years after Greg Glassman sold the company to Eric Roza and Berkshire Partners, based on what Landry says he was able to accomplish during his tenure at the company.
It appears that the turnaround happened in 2024 when Landry claims he helped “steer the company to its best financial year in history with 100%+ EBITDA growth year-over-year.” He also states that EBITDA is up 300% over three years.
For those outside of the financial world, EBITDA is “Earnings before Interest, Taxes, Depreciation and Amortization”. It’s typically how companies’ profitability is measured from an operational standpoint.
It is also one of the foundational metrics used by private equity firms and investment bankers to estimate the value of a company.
What it doesn’t do is tell you whether the company is cash flow positive because taxes and interest can turn a positive EBITDA into negative cash flow. Thus, Landry’s comment that he drove “over +$25M in cash-flow increases over the past 3 years after being cash-flow negative over the previous 3 years.”
Keep in mind, if I have the timing right, CrossFit, LLC was put up for sale just months after the company was able to show EBITDA growth and positive cash flow.
Of course, that doesn’t mean the financials proved out a $200 million valuation, the rumored amount that Berkshire was looking to sell the company for.
Landry also shares some information about the CrossFit Store. If you recall, CrossFit launched The Official CrossFit Store in August 2023. This online retail storefront for CrossFit merchandise was quietly removed months later in 2023.
Then, in July 2024 CrossFit relaunched its The CrossFit Store and, according to Landry, generated over $2 million in revenue the first year of operation. He is also projecting sales to exceed $5 million in 2027. I guess y’all like the new CrossFit apparel.
Although there is still quite a bit of 2026 CrossFit Games apparel still for sale…at a discount.
So, yeah, the good news is that CrossFit appears to be cash flow positive these days. The bad news is that CrossFit now has an AI council…whatever that means.
