An exercise machine for performing both a hack squat exercise and a leg press exercise is disclosed. A hack squat platform is operably mounted to a frame for use in performing a hack squat exercise. A collapsible seat is operably connected to either the frame or the hack squat platform for use in performing a leg press exercise. The collapsible seat and the hack squat platform are provided as alternative configurations whereby only one of either the collapsible seat or the hack squat platform can be used by the user at one time.