Exhibit 99.1

YOGAWORKS, INC. REPORTS THIRD QUARTER 2017 FINANCIAL RESULTS

LOS ANGELES, November 14, 2017 –

YogaWorks, Inc. (the “Company”), one of the largest providers of high quality yoga instruction in the U.S., today announced financial results for the third quarter ended September 30, 2017.

Rosanna McCollough, President and Chief Executive Officer of YogaWorks, stated, “We are pleased to have delivered third quarter results at the high end of our expectations, reflecting solid performance in our base business, with a minor contribution from the three studios acquired in the latter part of the third quarter. We have also made tremendous progress in our growth plan with the acquisition of an additional 13 studios in the fourth quarter to-date, bringing our total studio count to 66. The addition of these studios has enabled us to increase our market share in the Washington, D.C. area and gain entry into the vibrant Houston and Atlanta markets.  These studios perfectly align with the YogaWorks mission to offer a variety of classes and high-quality teaching to empower students of all ages and abilities to lead healthier and less stressful lives.  We remain the acquirer of choice in our large and highly fragmented industry comprised of over 33,000 yoga and Pilates studios. We are excited about our robust pipeline and the opportunity to boost our market leadership position by building density in existing markets and entering new markets through the acquisition of premier studios across the country.”

Results for the Third Quarter Ended September 30, 2017

 

 

September 30, 2017

September 30, 2016

GAAP Results

 

 

  Net revenue

$13.5 million

$13.5 million

  Net loss

$4.6 million

$2.4 million

  Cash flow from operating activities

$2.5 million

$0.3 million

 

 

 

Non-GAAP Results(1)

 

 

  Studio Count at quarter end

53

49

  Adjusted EBITDA

$(432,000)

$428,000

  Studio-Level EBITDA

$2.6 million

$2.9 million

  Adjusted net loss

$3.1 million

$2.3 million

 

 

(1)

Adjusted EBITDA, Studio-Level EBITDA and Adjusted net loss are non-U.S. generally accepted accounting principles (“GAAP”) measures. For reconciliations to GAAP net loss, see "Reconciliations of Non-GAAP Financial Measures" accompanying this press release.

For the third quarter ended September 30, 2017:

 

-

Net revenue was $13.5 million, flat compared to the third quarter of 2016.  

 

 

-

The Company acquired 3 studios in the latter part of the third quarter for $445,000 and ended the quarter with 53 studios in six regional markets.

 

 

-

Adjusted EBITDA was $(432,000) compared to adjusted EBITDA of $428,000 for the same quarter last year.

 

 

-

Adjusted net loss was $3.1 million compared to adjusted net loss of $2.3 million for the same period last year.

For a reconciliation of GAAP net loss to adjusted EBITDA and GAAP net loss to adjusted net loss, please see “Reconciliations of Non-GAAP Financial Measures” accompanying this press release.

Balance Sheet and Cash Flow Highlights

 

-

Cash and cash equivalents were $30.0 million as of September 30, 2017, primarily as a result of the capital raised from the Company’s initial public offering.

 

 

-

Cash flow from operating activities was $2.5 million for the third quarter of 2017 compared to $0.3 million during the third quarter of 2016.

 

 


The following information was filed by Yogaworks, Inc. (YOGA) on Tuesday, November 14, 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.

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