Our strong fourth quarter performance, which exceeded expectations, was a great way to complete a terrific year for Planet Fitness. 2015 total revenue increased 18% to a record $330 million, including system-wide same-store sales growth of 7.7%. All three segments of our business segments, franchise, corporate stores and equipment grew double digits, led by 23% growth in the franchise revenue, our highest-margin segment.

Our business model allowed us to translate our top-line success into even stronger gains in adjusted EBITDA, which increased 23% to a record $123 million. On top of our record financial performance, which Dorvin will review in more detail shortly, the past year was filled with several milestones, accomplishments that underscore the health our business and the strength of our brand.

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