Mindbody revenue up but so are losses
Yoga software developer MindBody reported that revenues increased, subscribers increased and net losses increased once again when the company released fourth quarter and year-end earnings Feb. 10.
San Luis Obispo-based MindBody sells products and merchant processing to yoga and fitness centers worldwide.
Fourth quarter revenue increased 40 percent from $20.12 million in 2014 to $28.27 million in 2015. Subscribers grew 27 percent during the quarter to 51,481. But MindBody’s net losses grew during the quarter from $6.5 million in 2014 to $9.75 million in 2015.
Yearly revenues grew substantially for MindBody from $70 million last year to $101.37 million in 2015. Net losses grew from $24.6 million in 2014 to $36.08 million in 2015.
MindBody’s losses of 17 cents per share beat analyst estimates of losses of 20 cents per share, according to Yahoo Finance. MindBody also beat revenue estimates of about $27.5 million.
• Contact Philip Joens at pjoens@pacbiztimes.com
