Shares of F45 Training Holdings Inc (NYSE:FXLV) jumped 4% on Tuesday after the company issued a mixed earnings report that showed a loss of 62 cents per share on revenues of $29.3 million.

The Mark Wahlberg-owned fitness chain missed consensus estimates for EPS, but beat on revenues.

Its founder and CEO resigned and became a non-employee board member, expansion plans were drastically scaled back due to macroeconomic headwinds, and shares have lost 78.8% of their value since the IPO.

However, last quarter, the company announced several key organizational changes and a cost reduction plan designed to position F45 more closely with macroeconomic conditions and current business trends.

“I am pleased with the performance of our studios, which generated same store sales growth of 16% as well as record system-wide sales of $130.6 million, representing year-over-year growth of 31%,” said Ben Coates, interim CEO of F45.

Coates said that the changes made earlier in the year have begun to yield positive results.

Despite strong demand from franchisees, the company reiterated its forward guidance from the previous quarter, stating that it anticipates that the $250 million in growth capital provided by the two previously announced franchise financing facilities, which F45 had arranged for franchisees to open additional studios, will not be available.

Between $120 million and $130 million in sales and $25 million to $30 million in adjusted EBITDA are the ranges that F45 anticipates for the entire year.