MindBody revenues up but net losses continue
Consistent with its last earnings report, MindBody’s revenues increased 31 percent for its second fiscal quarter 2017, but net losses persisted, reaching $4.4 million, or 10 cents per basic and diluted share.
The San Luis Obispo-based software provider for the wellness industry brought in $44.1 million in revenue, including $17.6 million from its payments software. Net losses decreased by a third from $6.6 million in the second quarter of 2016 and adjusted earnings before interest, taxes, depreciation and amortization edged into the positive, at $1.7 million.
High value subscriber growth continued to outpace the company’s overall subscriber growth at 13 percent, bringing it up to 59,345 for the period ended June 30.
“In the second quarter, we continued to focus our subscriber acquisition efforts on those businesses that contribute significant amounts of inventory to our platform, and we realized rapid growth in consumer adoption and engagement,” co-founder and CEO Rick Stollmeyer said in a news release. “This represents substantial progress toward our goal of a transaction-enabled marketplace that will serve more than 100 million consumers.”
Payments volume and average monthly revenue per subscriber also increased more than 20 percent apiece, to $1.9 billion and $244, respectively.
The company expects third quarter revenues in the range of $45.1 million to $46.1 million and full year revenues between $179.5 million to $182 million. Shares ended July 26 at $26.10, up 22.5 percent year-to-date.
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