Mindbody, Inc. (MB) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

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

Exhibit 99.1

Contact:

Investor Relations:

Nicole Gunderson

IR@mindbodyonline.com

888-782-7155

Media Contact:

Jennifer Saxon

jennifer.saxon@mindbodyonline.com

805-419-2839

MINDBODY Reports Second Quarter 2018 Financial Results

Total Revenue Increases 40% Year over Year

Subscription and Services Revenue Increases 48% Year over Year

SAN LUIS OBISPO, Calif., July 31, 2018 (GLOBE NEWSWIRE)—MINDBODY, Inc. (NASDAQ: MB), the leading technology platform for the fitness, beauty and wellness services industries, today announced financial results for the second quarter ended June 30, 2018.

“Q2 marks our first quarter post-Booker acquisition, and we are pleased to report strong operating results and progress on integration of the two companies,” said Rick Stollmeyer, co-founder and chief executive officer of MINDBODY. “With more fitness, beauty and wellness businesses on our platform than ever before, and the best go-to-market team in the industry, we have taken a substantial step towards our purpose of helping hundreds of millions of people live healthier, happier lives.”

"We delivered strong revenue growth in the second quarter, driven by the continued shift of our subscriber base into higher priced software tiers," said Brett White, chief operating officer and chief financial officer. "These customers drive our business as they deliver the vast majority of GMV and payments volume.”

Second Quarter 2018 Financial Results


•	Total revenue for the second quarter of 2018 was $61.6 million, a 40% increase year over year.


•	Subscription and services revenue for the second quarter of 2018 was $38.5 million, a 48% increase year over year.


•	Payments revenue for the second quarter of 2018 was $22.3 million, a 26% increase year over year.


•	GAAP net loss for the second quarter of 2018 was $(16.9) million, or $(0.36) per share, compared to a GAAP net loss for the second quarter of 2017 of $(4.4) million, or $(0.10) per share.


•	Non-GAAP net loss¹for the second quarter of 2018 was $(2.9) million, or $(0.06) per share, compared to a non-GAAP net loss for the second quarter of 2017 of $(0.5) million, or $(0.01) per share.


•	Adjusted EBITDA¹for the second quarter of 2018 was $(0.5) million, compared to Adjusted EBITDA for the second quarter of 2017 of $1.7 million.

Recent Business Highlights


•	Raised net proceeds of approximately $265 million in convertible senior notes, enabling us to invest in growth with flexibility to pursue opportunistic M&A.


•	Partnered with the nonprofit Partnership for a Healthier America (PHA) with their Healthier Campus Initiative, helping young adults more easily engage with fitness and wellness activities.


•	Experienced strong early adoption of FitMetrix and Frederick, which we acquired in the first half of the year.

The following information was filed by Mindbody, Inc. (MB) on Tuesday, July 31, 2018 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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