Are the Exit financial statements prepared according to GAAP?

According to Exit's 2025 Franchise Disclosure Document, the company's consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). This indicates that Exit adheres to a standardized set of accounting rules and guidelines when preparing its financial statements.

Specifically, Exit uses the accrual basis of accounting, which recognizes revenues when earned and expenses when incurred, regardless of when cash changes hands. Furthermore, the preparation of these statements requires management to make estimates and assumptions that could affect the reported amounts of assets, liabilities, revenues, and expenses. These estimates are crucial for presenting a fair view of the company's financial position.

It is important to note that the company's financial statements, as of December 31, 2024, were audited by independent auditors. The auditors' report expressed an opinion that the financial statements present fairly, in all material respects, the financial position of Exit in accordance with GAAP. This opinion provides assurance that the financial statements are reliable and fairly represent the company's financial performance and position.