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Viva Leisure (ASX:VVA), the gym and health club operator, is valued by small-cap managers for profitable growth and buybacks. In February 2026, Perennial Partners reported Viva rose 17% after a strong result, with revenue up almost 18% to $116.5 million and underlying profit up 47% to $8.1 million, supported by growth across its health club network. DMX highlighted Viva's pivot from acquisition-led expansion and its buyback program, reflecting management's view that the market undervalues the shares, while Perennial noted it later drifted lower amid low interest in small caps. Viva Leisure operates in the Consumer Discretionary sector within the Hotels, Restaurants and Leisure industry, and Thesis Tracker has captured 6 comments from 4 fund managers, including Perennial Partners and DMX Asset Management. Founded in 2004 and headquartered in Mitchell, Canberra, Viva Leisure operates and franchises health clubs, including Club Lime, Plus Fitness, Hiit Republic and Club Pilates, across Australia.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Forager Funds, Prime Value Asset Management, DMX Asset Management and Perennial Partners have invested in Viva Leisure Ltd (ASX:VVA).
Perennial and DMX highlight strong revenue and profit growth across the health club network, a pivot toward organic growth and an on-market buyback reflecting management confidence.
Perennial notes Viva drifted lower on no news amid weak interest in small-cap stocks, and the business depends on discretionary consumer spending on gym memberships.
Viva Leisure Ltd. is an Australian health and leisure company founded in 2004 by Harry and Angelo Konstantinou. Headquartered in Mitchell, Australia, the firm operates a diverse portfolio of fitness facilities ranging from big-box gyms to boutique studios. Its brand stable includes Club Lime, Ladies Only, Psyclelife, Aquatics, Hiit Republic, Swim School, Gymmy, and Studio. Viva Leisure provides tiered membership options, servicing the health and fitness industry through a multifaceted business model.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.