YogaWorks, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the First Quarter and Full Year of Fiscal 2018; Reports Goodwill Impairment for the Fourth Quarter Ended December 31, 2017
For the year, the company reported revenue of $54,513,945 compared to $55,090,208 a year ago. Loss from operations was $22,138,449 compared to $7,874,146 a year ago. Net loss before provision for income taxes $23,481,894 compared to $9,461,230 a year ago. Net loss was $23,436,354 compared to $9,504,522 a year ago. Net cash provided by operating activities was $614,579 compared to $762,170 a year ago. Purchase of property, equipment, and intangible assets was $1,834,526 compared to $2,096,481 a year ago. Adjusted net loss was $11,655 million compared to $9,100 million a year ago. Non-GAAP adjusted LBITDA was $1.2 million compared to adjusted EBITDA of 1.7 million a year ago.
For the first quarter of 2018, the company expects net revenue between $14.8 million and $15.3 million and adjusted LBITDA between $1.5 million and $1.0 million. This compares to net revenue of $14.0 million and adjusted EBITDA of $841,000 for the first quarter of 2017.
For fiscal 2018, the company expects net revenue between $57.0 million and $59.0 million and adjusted LBITDA between $4.0 million and $3.0 million. This compares to net revenue of $54.5 million and adjusted LBITDA of $1.2 million for 2017.
For the fourth quarter ended December 31, 2017, the company reported goodwill impairment of $7,488,399.