iPic Entertainment Inc. announced unaudited consolidated earnings results for the third quarter and first nine months ended September 30, 2017. For the nine months, the company announced total revenues were $101,966,000 compared to $85,430,000 for the same period a year ago. Operating loss was $21,977,000 compared to $14,496,000 for the same period a year ago. Net loss before income tax expense was $33,890,000 compared to $23,028,000 for the same period a year ago. Net loss was $33,955,000 compared to $23,074,000 for the same period a year ago. Net cash used in operating activities was $11,670,000 compared to net cash generated from operating activities of $6,002,000 for the same period a year ago. Purchases of property and equipment were $14,468,000 compared to $46,787,000 for the same period a year ago. LBITDA was $7,421,000 compared to $3,202,000 for the same period a year ago. Adjusted LBITDA was $1,391,000 compared to $109,000 for the same period a year ago.

For the quarter, the company announced total revenues were $32,591,000 compared to $30,082,000 for the same period a year ago. Operating loss was $7,373,000 compared to $6,070,000 for the same period a year ago. Net loss before income tax expense was $11,508,000 compared to $9,343,000 for the same period a year ago. Net loss was $11,530,000 compared to $9,359,000 for the same period a year ago. LBITDA was $2,399,000 compared to $2,069,000 for the same period a year ago. Adjusted LBITDA was $1,701,000 compared to adjusted EBITDA of $154,000 for the same period a year ago.

For the year ending December 31, 2018, the company currently expects: total revenue growth of 3% to 7%; comparable-store sales growth in the range of 0% to 5%; store-level EBITDA, a non-GAAP measure, growth of 20% to 30%; adjusted EBITDA, a non-GAAP measure, loss of $1.5 million to loss of $0.5 million; capital expenditures of $20 million to $25 million, net of tenant improvement dollars.