Mindbody, Inc. (MB) SEC Filing 10-Q Quarterly report for the period ending Friday, June 30, 2017

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ Changes
Mindbody, Inc.
Ticker: MB CIK: 1458962

Exhibit 99.1

Contact:

Investor Relations:

The Blueshirt Group

Nicole Gunderson

IR@mindbodyonline.com

888-782-7155

Media Contact:

Jennifer Saxon

jennifer.saxon@mindbodyonline.com

805-419-2839

MINDBODY Reports Second Quarter 2017 Financial Results

Delivers Year over Year Revenue Growth of 31%, Improved Margins and Record Cash Flow from Operations

SAN LUIS OBISPO, Calif., July 26, 2017 (GLOBE NEWSWIRE)—MINDBODY, Inc. (NASDAQ: MB), the leading technology platform for the wellness services industry, today announced financial results for the second quarter ended June 30, 2017.

“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,” said Rick Stollmeyer, Co-founder and Chief Executive Officer of MINDBODY. “This represents substantial progress towards our goal of a transaction-enabled marketplace that will serve more than one hundred million consumers.”

"We delivered strong topline results in the second quarter," said Brett White, Chief Operating Officer and Chief Financial Officer. "Additionally, we saw early positive effects of our refined subscriber growth strategy, demonstrated by our expanding year over year margins and accelerating ARPS growth."

Second Quarter 2017 Financial Results


•	Total revenue in the second quarter of 2017 was $44.1 million, a 31% increase year over year.


•	Subscription and services revenue in the second quarter was $26.0 million, a 29% increase year over year.


•	Payments revenue in the second quarter was $17.6 million, a 37% increase year over year.


•	GAAP net loss in the second quarter of 2017 was $(4.4) million or $(0.10) per basic and diluted share, compared to a GAAP net loss in the second quarter of 2016 of $(6.6) million, or $(0.16) per basic and diluted share.


•	Non-GAAP net loss¹in the second quarter of 2017 was $(0.5) million, or $(0.01) per basic and diluted share, compared to a non-GAAP net loss in the second quarter of 2016 of $(4.1) million, or $(0.10) per basic and diluted share.


•	Adjusted EBITDA¹ in the second quarter of 2017 was $1.7 million, compared to an Adjusted EBITDA loss in the second quarter of 2016 of $(1.9) million.

Recent Business Highlights


•	End of period subscribers increased 6% year over year to 59,345. End of period High Value Subscribers increased 13% year over year.


•	Average monthly revenue per subscriber (ARPS) grew 21% year over year to approximately $244.


•	Dollar-based net expansion rate was 108%, compared to 111% as of the end of the second quarter of 2016. This metric nets the effects of subscriber churn against the increasing value of subscribers retained, indicating the tendency of our subscriber cohorts to gain value over time.


•	Payments volume increased 22% year over year to over $1.9 billion.


•	Named Mike Mansbach President of MINDBODY. Mansbach oversees the growth engine of the company, including sales, marketing, partnerships and customer experience. He reports to CEO and Co-founder Rick Stollmeyer, who continues to lead the company's vision, mission and overall strategy.


•	Named Josh Todd, Chief Marketing Officer of MINDBODY. Todd brings nearly two decades of marketing experience to MINDBODY, most recently in senior executive roles at Localytics and Constant Contact.

The following information was filed by Mindbody, Inc. (MB) on Wednesday, July 26, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Mindbody, Inc.'s financial trajectory

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