Full Year Total Revenue Grows 31% Year over
Year
MINDBODY, Inc. (NASDAQ:MB), the leading technology platform for the
wellness services industry, today announced financial results for
the fourth quarter and full year ended December 31, 2017.
“This was the most successful year in MINDBODY
history,” said Rick Stollmeyer, co-founder and chief executive
officer of MINDBODY. “Throughout 2017, our platform
delivered strong growth in total sessions booked, payments volume,
and direct consumer engagement. We also saw rapid expansion of
promoted introductory offer purchases and impressive early adoption
of dynamic pricing in Q4. These results all point to the growing
momentum of our transaction-enabled marketplace, which focuses on
adding the right customers to our platform and promoting their
offerings to an ever larger consumer audience. In the year ahead,
we will leverage this momentum and the acquisition of FitMetrix to
further engage with the best customers and accelerate consumer
adoption. Our purpose is connecting the world to wellness, and we
intend to help more people live healthier, happier lives than ever
before.”
“The fourth quarter underscored the ongoing
success of our refined growth strategy, with consistent revenue
growth, record ARPS growth and the best margins in our history,”
said Brett White, chief operating officer and chief financial
officer. “Our excellent unit economics and improving operating
leverage enabled us to deliver positive non-GAAP net income for the
fourth quarter and the full year, while still investing
substantially in product and growth.”
Fourth Quarter 2017 Financial
Results
- Total revenue for the fourth quarter of 2017 was $49.7 million,
a 30% increase year over year.
- Subscription and services revenue for the fourth quarter of
2017 was $29.9 million, a 34% increase year over year.
- Payments revenue for the fourth quarter of 2017 was $19.1
million, a 25% increase year over year.
- GAAP net loss for the fourth quarter of 2017 was $(2.9)
million, or $(0.06) per share, compared to a GAAP net loss for the
fourth quarter of 2016 of $(3.9) million, or $(0.10) per
share.
- Non-GAAP net income1 for the fourth quarter of 2017 was $1.7
million, or $0.03 per share, compared to a non-GAAP net loss for
the fourth quarter of 2016 of $(1.6) million, or $(0.04) per
share.
- Adjusted EBITDA1 for the fourth quarter of 2017 was $3.6
million, compared to Adjusted EBITDA for the fourth quarter of 2016
of $0.6 million.
Full Year 2017 Financial
Results
- Total revenue for the full year of 2017 was $182.6 million, a
31% increase year over year.
- Subscription and services revenue for the full year of 2017 was
$109.2 million, a 32% increase year over year.
- Payments revenue for the full year of 2017 was $71.3 million, a
32% increase year over year.
- GAAP net loss for the full year of 2017 was $(14.8) million, or
$(0.33) per share, compared to a GAAP net loss of $(23.0) million,
or $(0.58) per share for the full year 2016.
- Non-GAAP net income1 for the full year of 2017 was $0.7
million, or $0.02 per share, compared to a non-GAAP net loss of
$(13.8) million, or $(0.35) per share for the full year 2016.
- Adjusted EBITDA 1 for the full year of 2017 was $8.9 million,
compared to an Adjusted EBITDA loss of $(4.8) million for the full
year 2016.
Recent Business Highlights
- Acquired FitMetrix in Q1 2018, which provides performance
tracking integrations with fitness studio equipment and wearables,
enabling fitness businesses to deliver a more immersive experience
to their clients. Consumers in turn are able to reserve specific,
integrated equipment while booking a class, gaining invaluable
insights into their performance and progress.
- Appointed Mark Baker as Chief Revenue Officer of MINDBODY.
Baker will focus on aligning the customer facing teams and building
sales strategies and structures that contribute to the company’s
growth. Baker will report directly to MINDBODY President Mike
Mansbach, and will oversee global sales, customer support and
business development.
- Named to Deloitte’s 2017 Technology Fast 500 for the sixth
time.
Fourth Quarter Key Metrics
We regularly review the following key metrics to
measure our performance, identify trends affecting our business,
formulate financial projections, make strategic business decisions
and assess working capital needs.
|
As of and for the Quarter Ended December
31, |
2017 |
|
2016 |
|
YoY |
Subscribers (end of
period) |
58,584 |
|
|
60,385 |
|
|
(3 |
)% |
Average monthly revenue
per subscriber |
$ |
278 |
|
|
$ |
212 |
|
|
31 |
% |
Payments volume
(in billions) |
$ |
2.1 |
|
|
$ |
1.7 |
|
|
23 |
% |
Dollar-based net
expansion rate (end of period) |
107 |
% |
|
108 |
% |
|
|
1
A reconciliation of GAAP to non-GAAP financial measures is provided
in the financial statement tables included in this press release.
An explanation of these measures is also included under the heading
“Non-GAAP Financial Measures”.
Outlook
On January 1, 2018, MINDBODY adopted the new
revenue recognition standard, ASC 606, using the modified
retrospective method. The guidance below is provided utilizing ASC
606.
For the first quarter and full year 2018,
MINDBODY expects to report:
- Revenue for the first quarter of 2018 in the range of $53.0
million to $54.5 million, representing 26% to 29% growth over the
first quarter of 2017.
- Revenue for the full year of 2018 in the range of $230.0
million to $236.0 million, representing 26% to 29% growth over the
full year of 2017.
- Non-GAAP net income for the first quarter of 2018 in the range
of $1.3 million to $2.3 million and diluted weighted average shares
outstanding for the first quarter of approximately 50.1 million
shares.
- Non-GAAP net income for the full year of 2018 in the range of
$9.0 million to $13.0 million and diluted weighted average
shares outstanding for the full year of approximately 50.6 million
shares.
The outlook for non-GAAP net income excludes
estimates for, among others, stock-based compensation expense and
amortization of acquired intangible assets. A reconciliation
of these non-GAAP financial guidance measures to corresponding GAAP
measures is not available on a forward-looking basis because we do
not provide guidance on GAAP net loss, primarily as a result of the
uncertainty regarding, and the potential variability of,
stock-based compensation expense and amortization of acquired
intangible assets. In particular, stock-based compensation
expense is impacted by MINDBODY’s future hiring and retention
needs, as well as the future fair market value of MINDBODY’s Class
A common stock, all of which is difficult to predict and is subject
to constant change. The actual amount of these expenses
during 2018 will have a significant impact on MINDBODY’s future
GAAP financial results. Accordingly, a reconciliation of the
non-GAAP financial guidance measures to the corresponding GAAP
measures is not available without unreasonable effort.
Quarterly Conference Call and Related
Information
MINDBODY will discuss its quarterly results
today at 1:30 p.m. PT (4:30 p.m. ET)
- Dial in: To access the call, please dial (844)
494-0191, or outside the U.S. (508) 637-5581, with Conference ID#
2857818 at least five minutes prior to the 1:30 p.m. PT start
time.
- Webcast and Related Investor Materials: A live
webcast and replay of the call, as well as related investor
materials, will be available at
http://investors.mindbodyonline.com/ under the Events and
Presentations menu.
- Audio replay: An audio replay will be
available between 4:30 p.m. PT February 21, 2018 and 7:30 p.m. PT
February 28, 2018 by calling (855) 859-2056 or (404) 537-3406 with
Passcode 2857818. The replay will also be available at
investors.mindbodyonline.com.
About MINDBODY
MINDBODY, Inc. (NASDAQ:MB) is the leading technology platform
for the wellness services industry. Local wellness entrepreneurs
worldwide use MINDBODY’s integrated software and payments platform
to run, market and build their businesses. Consumers use MINDBODY
to more easily find, engage and transact with wellness providers in
their local communities. For more information on how MINDBODY is
helping people lead healthier, happier lives by connecting the
world to wellness, visit mindbodyonline.com.
© 2018 MINDBODY, Inc. All rights reserved. MINDBODY, the Enso
logo and Connecting the World to Wellness are trademarks or
registered trademarks of MINDBODY Inc. in the United States and/or
other countries. Other company and product names may be trademarks
of the respective companies with which they are associated.
Forward Looking Statements
This press release and the accompanying
conference call contain forward-looking statements including, among
others, current estimates of first quarter and full year 2018
revenue, non-GAAP net income, and diluted weighted average shares
outstanding; leveraging momentum in the business and the
acquisition of FitMetrix to further engage with customers and
accelerate consumer adoption and engagement; further ramping
investments in 2018 in product and marketing to drive future growth
of the two-sided marketplace; 2018 consumer development roadmap,
including the timing of the release of the redesigned MINDBODY app
and a web version of the MINDBODY App, extending promoted offers
capability worldwide, and expanding consumer partnerships; plans to
expand adoption of FitMetrix and accelerate the development of
workout innovations; plans for the new software packages;
expectations of the impact of ASC 606 on 2018 revenue; and the
impact of FitMetrix on first quarter 2018 revenue and first half of
2018 bottom line.
These forward-looking statements involve risks
and uncertainties. If any of these risks or uncertainties
materialize, or if any of our assumptions prove incorrect, our
actual results could differ materially from the results expressed
or implied by these forward-looking statements. These risks and
uncertainties include risks associated with: continued market
acceptance of our platform; engagement of our customers and
consumers; our ability to continue to successfully develop new
products and enhance our existing products to meet the needs of our
customers and consumers; the return on our strategic investments;
our ability to successfully integrate FitMetrix on our platform;
execution of our plans and strategies, including with respect to
consumer development, pricing, dynamic pricing, mobile products and
features and the MINDBODY Network; any failure of our security
measures, including the risk that such measures may be insufficient
to secure our customer and consumer data adequately or that we may
become subject to attacks that degrade or deny the ability of our
customers and consumers to access our platform; our ability to grow
and develop our payment processing activities; our ability to
timely and effectively scale and adapt our existing technology and
network infrastructure to ensure that our solutions are accessible
at all times with short or no perceptible load times; our ability
to maintain our rate of revenue growth and manage our expenses and
investment plans; any decrease in customer demand for our software
products, features and/or service offerings; changes in privacy or
other regulations that could impact our ability to serve our
customers and consumers or adversely impact our monetization
efforts; increasing competition; our ability to manage our growth,
including internationally; our ability to recruit and retain
employees; general economic, market and business conditions; and
the risks described in the other filings we make with the
Securities and Exchange Commission from time to time, including the
risks described under the heading “Risk Factors” in our Annual
Report on Form 10-K, which was filed with the Securities and
Exchange Commission on March 1, 2017 and the risks described under
the heading “Risk Factors” in our subsequent Quarterly Reports on
Form 10-Q, which should be read in conjunction with our financial
results and forward-looking statements and are available on the SEC
Filings section of the Investor Relations page of our website at
http://investors.mindbodyonline.com/.
All forward-looking statements in this press
release are based on information available to us as of the date
hereof, and we do not assume any obligation to update the
forward-looking statements provided to reflect events that occur or
circumstances that exist after the date on which they were
made.
Non-GAAP Financial Measures
In this press release, MINDBODY has provided
financial information that has not been prepared in accordance with
generally accepted accounting principles in the United States
(GAAP). We disclose the following historical non-GAAP financial
measures in this press release: Adjusted EBITDA, non-GAAP net
income (loss), and non-GAAP net income (loss) per share. We use
these non-GAAP financial measures internally in analyzing our
financial results and evaluating our ongoing operational
performance. We believe that these non-GAAP financial measures
provide an additional tool for investors to use in understanding
and evaluating ongoing operating results and trends in the same
manner as our management and board of directors. Our use of
these non-GAAP financial measures has limitations as an analytical
tool, and you should not consider them in isolation or as a
substitute for analysis of our financial results as reported under
GAAP. Because of these and other limitations, you should
consider these non-GAAP financial measures along with other
GAAP-based financial performance measures, including various cash
flow metrics, net loss, and our GAAP financial results. We have
provided a reconciliation of these non-GAAP financial measures to
their most directly comparable GAAP measures in the financial
statement tables included in this press release, and investors are
encouraged to review the reconciliation.
Adjusted EBITDA
We define Adjusted EBITDA as our net loss before
stock-based compensation expense, depreciation and amortization,
provision for income taxes, and other expense, net, which consisted
of interest income (expense), net, and other income (expense),
net.
We have provided below a reconciliation of
Adjusted EBITDA to net loss, the most directly comparable GAAP
financial measure. We have presented Adjusted EBITDA in this
press release because it is a key measure used by our management
and board of directors to understand and evaluate our core
operating performance and trends, to prepare and approve our annual
budget, and to develop short and long-term operational plans. In
particular, we believe that the exclusion of the amounts eliminated
in calculating Adjusted EBITDA can provide a useful measure for
period-to-period comparisons of our core business. Adjusted EBITDA
has a number of limitations, including the following: (1) although
depreciation and amortization expense are non-cash charges, the
assets being depreciated and amortized may have to be replaced in
the future, and Adjusted EBITDA does not reflect cash capital
expenditure requirements for such replacements or for new capital
expenditure requirements; (2) Adjusted EBITDA does not reflect
changes in, or cash requirements for, our working capital needs,
the potentially dilutive impact of stock-based compensation, or tax
payments that may represent a reduction in cash available to us;
and (3) other companies, including companies in our industry, may
calculate Adjusted EBITDA or similarly titled measures differently,
which reduces its usefulness as a comparative measure.
Non-GAAP net income (loss) and non-GAAP net income
(loss) per share
We define non-GAAP net income (loss) as the
respective GAAP balance attributable to common stockholders
adjusted for: (1) stock-based compensation expense and (2)
amortization of acquired intangible assets. Non-GAAP net income per
share is calculated as non-GAAP net income divided by the diluted
weighted-average shares outstanding. Non-GAAP net loss per share,
is calculated as non-GAAP net loss divided by the weighted-average
shares outstanding. These non-GAAP financial measures have a number
of limitations, including the following: these non-GAAP financial
measures exclude stock-based compensation expense, which has been
and will continue to be for the foreseeable future a significant
recurring expense in MINDBODY’s business; and other companies,
including companies in our industry, may exclude different
non-recurring items in their calculation of these non-GAAP
financial measures, which reduces their usefulness as a comparative
measure.
Contact:
Investor Relations:Nicole
GundersonIR@mindbodyonline.com888-782-7155
Media Contact:Jennifer
Saxonjennifer.saxon@mindbodyonline.com805-419-2839
|
MINDBODY, INC. |
Condensed Consolidated Balance
Sheets |
(in thousands, except share and per share
data) |
(Unaudited) |
|
|
December 31, |
|
December 31, |
|
|
2017 |
|
2016 |
ASSETS |
|
|
|
|
Current
assets: |
|
|
|
|
Cash and
cash equivalents |
|
$ |
232,019 |
|
|
$ |
85,864 |
|
Accounts
receivable |
|
10,917 |
|
|
9,129 |
|
Prepaid
expenses and other current assets |
|
5,612 |
|
|
3,702 |
|
Total current assets |
|
248,548 |
|
|
98,695 |
|
Property
and equipment, net |
|
32,871 |
|
|
33,084 |
|
Intangible assets, net |
|
7,377 |
|
|
2,047 |
|
Goodwill |
|
11,583 |
|
|
9,039 |
|
Other
noncurrent assets |
|
934 |
|
|
650 |
|
TOTAL ASSETS |
|
$ |
301,313 |
|
|
$ |
143,515 |
|
|
|
|
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY |
|
|
|
|
Current
liabilities: |
|
|
|
|
Accounts
payable |
|
$ |
7,448 |
|
|
$ |
4,827 |
|
Accrued
expenses and other liabilities |
|
13,099 |
|
|
10,470 |
|
Deferred
revenue, current portion |
|
6,318 |
|
|
4,859 |
|
Other
current liabilities |
|
1,828 |
|
|
581 |
|
Total current liabilities |
|
28,693 |
|
|
20,737 |
|
Deferred
revenue, noncurrent portion |
|
3,201 |
|
|
3,269 |
|
Deferred
rent, noncurrent portion |
|
1,966 |
|
|
1,387 |
|
Financing
obligation on leases, noncurrent portion |
|
14,932 |
|
|
15,450 |
|
Other
noncurrent liabilities |
|
585 |
|
|
1,016 |
|
Total liabilities |
|
49,377 |
|
|
41,859 |
|
Stockholders' equity: |
|
|
|
|
Class A
common stock, par value of $0.000004 per share; 1,000,000,000
shares authorized,43,041,405 and 30,820,502 shares issued and
outstanding as of December 31, 2017 and 2016, respectively. |
|
1 |
|
|
— |
|
Class B
common stock, par value of $0.000004 per share; 100,000,000 shares
authorized,3,901,966 and 9,777,757 shares issued and outstanding as
of December 31, 2017 and 2016, respectively. |
|
— |
|
|
— |
|
Additional paid-in capital |
|
454,196 |
|
|
289,317 |
|
Accumulated other comprehensive loss |
|
(108 |
) |
|
(300 |
) |
Accumulated deficit |
|
(202,153 |
) |
|
(187,361 |
) |
Total stockholders' equity |
|
251,936 |
|
|
101,656 |
|
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY |
|
$ |
301,313 |
|
|
$ |
143,515 |
|
|
|
|
|
|
|
|
|
|
MINDBODY, INC. |
Condensed Consolidated Statements of
Operations |
(in thousands, except per share
data) |
(Unaudited) |
|
Three Months Ended December 31, |
|
Year Ended December 31, |
|
2017 |
|
2016 |
|
2017 |
|
2016 |
Revenue(1) |
$ |
49,693 |
|
|
$ |
38,191 |
|
|
$ |
182,626 |
|
|
$ |
139,021 |
|
Cost of revenue(2) |
13,990 |
|
|
11,423 |
|
|
51,870 |
|
|
43,080 |
|
Gross profit |
35,703 |
|
|
26,768 |
|
|
130,756 |
|
|
95,941 |
|
Operating
expenses: |
|
|
|
|
|
|
|
Sales and
marketing(2) |
19,615 |
|
|
14,926 |
|
|
71,825 |
|
|
56,460 |
|
Research
and development(2) |
9,384 |
|
|
7,558 |
|
|
35,810 |
|
|
30,316 |
|
General
and administrative(2) |
9,664 |
|
|
7,947 |
|
|
37,471 |
|
|
30,497 |
|
Total operating expenses |
38,663 |
|
|
30,431 |
|
|
145,106 |
|
|
117,273 |
|
Loss from
operations |
(2,960 |
) |
|
(3,663 |
) |
|
(14,350 |
) |
|
(21,332 |
) |
Interest income
(expense), net |
234 |
|
|
(258 |
) |
|
109 |
|
|
(1,123 |
) |
Other income (expense),
net |
(328 |
) |
|
23 |
|
|
(384 |
) |
|
(203 |
) |
Loss before provision
for income taxes |
(3,054 |
) |
|
(3,898 |
) |
|
(14,625 |
) |
|
(22,658 |
) |
Provision for income
taxes |
(176 |
) |
|
42 |
|
|
167 |
|
|
321 |
|
Net loss |
$ |
(2,878 |
) |
|
$ |
(3,940 |
) |
|
$ |
(14,792 |
) |
|
$ |
(22,979 |
) |
Net loss per share,
basic and diluted |
$ |
(0.06 |
) |
|
$ |
(0.10 |
) |
|
$ |
(0.33 |
) |
|
$ |
(0.58 |
) |
Weighted-average shares
used to compute net loss per share, basic and diluted |
|
46,783 |
|
|
|
40,521 |
|
|
|
44,309 |
|
|
|
39,913 |
|
|
|
|
|
|
|
|
|
(1) Total revenue by
category is presented below: |
Three Months Ended December 31, |
|
Year Ended December 31, |
|
2017 |
|
2016 |
|
2017 |
|
2016 |
Revenue: |
|
|
|
|
|
|
|
Subscription and
services |
$ |
29,946 |
|
|
$ |
22,365 |
|
|
$ |
109,174 |
|
|
$ |
82,919 |
|
Payments |
19,108 |
|
|
15,268 |
|
|
71,263 |
|
|
53,808 |
|
Product and other |
639 |
|
|
558 |
|
|
2,189 |
|
|
2,294 |
|
Total revenue |
$ |
49,693 |
|
|
$ |
38,191 |
|
|
$ |
182,626 |
|
|
$ |
139,021 |
|
|
|
|
|
|
|
|
|
(2)
Stock-based compensation expense included above was as
follows: |
|
Three Months Ended December 31, |
|
Year Ended December 31, |
|
2017 |
|
2016 |
|
2017 |
|
2016 |
Cost of revenue |
$ |
420 |
|
|
$ |
244 |
|
|
$ |
1,334 |
|
|
$ |
910 |
|
Sales and
marketing |
859 |
|
|
423 |
|
|
2,872 |
|
|
2,059 |
|
Research and
development |
1,190 |
|
|
515 |
|
|
3,864 |
|
|
1,971 |
|
General and
administrative |
1,707 |
|
|
975 |
|
|
6,031 |
|
|
3,823 |
|
Total stock-based compensation expense |
$ |
4,176 |
|
|
$ |
2,157 |
|
|
$ |
14,101 |
|
|
$ |
8,763 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MINDBODY, INC. |
Condensed Consolidated Statements of Cash
Flows |
(in thousands) |
(Unaudited) |
|
Year Ended December 31, |
2017 |
|
2016 |
CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
Net
loss |
$ |
(14,792 |
) |
|
$ |
(22,979 |
) |
Adjustments to reconcile net loss to net cash provided by (used in)
operating activities: |
|
|
|
Stock-based compensation expense |
14,101 |
|
|
8,763 |
|
Depreciation and amortization |
9,150 |
|
|
7,755 |
|
Other |
342 |
|
|
265 |
|
Changes
in operating assets and liabilities net of effects of
acquisitions: |
|
|
|
Accounts
receivable |
(1,739 |
) |
|
(2,561 |
) |
Prepaid
expenses and other current assets |
(1,871 |
) |
|
(638 |
) |
Other
assets |
(277 |
) |
|
(132 |
) |
Accounts
payable |
1,965 |
|
|
92 |
|
Accrued
expenses and other liabilities |
2,307 |
|
|
2,631 |
|
Deferred
revenue |
1,351 |
|
|
2,775 |
|
Deferred
rent |
573 |
|
|
133 |
|
Net cash provided by (used in) operating activities |
11,110 |
|
|
(3,896 |
) |
CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
Purchase
of property and equipment |
(6,850 |
) |
|
(8,591 |
) |
Additions
to internally developed software |
(1,963 |
) |
|
— |
|
Acquisition of business |
(1,700 |
) |
|
(4,138 |
) |
Net cash used in investing activities |
(10,513 |
) |
|
(12,729 |
) |
CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
Net
proceeds from follow-on public offering |
134,266 |
|
|
— |
|
Proceeds
from exercise of equity awards |
10,040 |
|
|
6,626 |
|
Proceeds
from employee stock purchase plan |
3,238 |
|
|
3,040 |
|
Payment
related to shares withheld for taxes |
(1,704 |
) |
|
— |
|
Repayment
on financing and capital lease obligations |
(511 |
) |
|
(466 |
) |
Other |
(33 |
) |
|
(33 |
) |
Net cash provided by financing activities |
145,296 |
|
|
9,167 |
|
Effect of
exchange rate changes on cash and cash equivalents |
262 |
|
|
(83 |
) |
NET
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |
146,155 |
|
|
(7,541 |
) |
CASH AND
CASH EQUIVALENTS, BEGINNING OF PERIOD |
85,864 |
|
|
93,405 |
|
CASH AND
CASH EQUIVALENTS, END OF PERIOD |
$ |
232,019 |
|
|
$ |
85,864 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Adjusted EBITDA: |
|
|
|
|
Three Months Ended December 31, |
|
Year Ended December 31, |
|
2017 |
|
2016 |
|
2017 |
|
2016 |
|
(in thousands) |
Net
loss |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2,878 |
) |
|
$ |
|
|
(3,940 |
) |
|
$ |
|
|
|
|
|
|
(14,792 |
) |
|
$ |
|
|
(22,979 |
) |
Stock-based compensation expense |
4,176 |
|
|
2,157 |
|
|
14,101 |
|
|
8,763 |
|
Depreciation and amortization |
2,414 |
|
|
2,084 |
|
|
9,150 |
|
|
7,755 |
|
Provision for income taxes |
(176 |
) |
|
42 |
|
|
167 |
|
|
321 |
|
Other expense, net |
94 |
|
|
235 |
|
|
275 |
|
|
1,326 |
|
Adjusted
EBITDA |
$ |
3,630 |
|
|
$ |
578 |
|
|
$ |
8,901 |
|
|
$ |
(4,814 |
) |
|
|
|
|
|
|
|
|
Reconciliation of net income (loss): |
|
|
|
|
|
|
|
|
Three Months Ended December 31, |
|
Year Ended December 31, |
|
2017 |
|
2016 |
|
2017 |
|
2016 |
|
(in thousands) |
GAAP net loss attributable to common stockholders |
$ |
(2,878 |
) |
|
$ |
|
|
(3,940 |
) |
|
$ |
|
|
|
|
|
|
(14,792 |
) |
|
$ |
|
|
(22,979 |
) |
Stock-based compensation expense |
4,176 |
|
|
2,157 |
|
|
14,101 |
|
|
8,763 |
|
Amortization of acquired intangible assets |
410 |
|
|
165 |
|
|
1,401 |
|
|
426 |
|
Non-GAAP
net income (loss) |
$ |
1,708 |
|
|
$ |
(1,618 |
) |
|
$ |
710 |
|
|
$ |
(13,790 |
) |
|
|
|
|
|
|
|
|
Reconciliation of net income (loss) per
share: |
|
Three Months Ended December 31, |
|
Year Ended December 31, |
|
2017 |
|
2016 |
|
2017 |
|
2016 |
GAAP net
loss per share attributable to common stockholders, basic and
diluted: |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(0.06 |
) |
|
$ |
|
|
(0.10 |
) |
|
$ |
|
|
|
|
|
|
(0.33 |
) |
|
$ |
|
|
(0.58 |
) |
Non-GAAP adjustments to net loss per share |
0.10 |
|
|
0.06 |
|
|
0.35 |
|
|
0.23 |
|
Non-GAAP adjustments to weighted-average shares used to
compute net loss per share |
(0.01 |
) |
|
— |
|
|
— |
|
|
— |
|
Non-GAAP
net income (loss) per share |
$ |
0.03 |
|
|
$ |
(0.04 |
) |
|
$ |
0.02 |
|
|
$ |
(0.35 |
) |
|
|
|
|
|
|
|
|
Reconciliation of weighted-average shares: |
|
Three Months Ended December 31, |
|
Year Ended December 31, |
|
2017 |
|
2016 |
|
2017 |
|
2016 |
|
(in thousands) |
GAAP
weighted-average shares used to compute net loss per share, basic
and diluted |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
46,783 |
|
|
|
|
|
40,521 |
|
|
|
|
|
|
|
|
|
44,309 |
|
|
|
|
|
39,913 |
|
Potentially dilutive shares |
2,267 |
|
|
— |
|
|
2,073 |
|
|
— |
|
Non-GAAP
diluted weighted-average shares used to compute non-GAAP net income
(loss) per share |
49,050 |
|
|
40,521 |
|
|
46,382 |
|
|
39,913 |
|
|
|
|
|
|
|
|
|
|
|
|
|
MINDBODY, INC. (NASDAQ:MB)
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From May 2024 to Jun 2024
MINDBODY, INC. (NASDAQ:MB)
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From Jun 2023 to Jun 2024