YogaWorks, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Provides Earnings Guidance for the Second Quarter and Full Year of Fiscal 2018
YogaWorks, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company announced net revenues were $15,529,813 compared to $13,990,094 for the same period a year ago. Loss from operations was $3,949,642 compared to $2,037,267 for the same period a year ago. Net loss before income taxes was $3,943,512 compared to $2,598,898 for the same period a year ago. Net loss was $3,960,896 compared to $2,616,798 for the same period a year ago. Net cash used in operating activities was $2,663,329 compared to net cash generated from operating activities of $783,238 for the same period a year ago. Purchase of property, equipment, and intangible assets was $425,901 compared to $196,370 for the same period a year ago. Adjusted LBITDA was $1,069,000 compared to adjusted EBITDA of $841,000 for the same period a year ago. Adjusted free cash flow used was $810,000 compared to adjusted free cash flow generated of $766,000 for the same period a year ago. Adjusted net loss was $3,454,000 compared to $1,971,000 for the same period a year ago.
The company provided earnings guidance for the second quarter and full year of fiscal 2018. For the second quarter of 2018, the company expects net revenue between $13.3 million and $13.8 million and adjusted LBITDA between $1.6 million and $1.1 million.
For fiscal 2018, the company expects net revenue between $57.5 million and $59.5 million and adjusted LBITDA between $2.95 million and $3.95 million.