YogaWorks, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company's net revenues were $14,870,362 compared to $12,493,461 a year ago. Loss from operations was $6,694,287 compared to $4,157,724 a year ago. Net loss before provision for income taxes was $6,650,145 compared to $4,406,598 a year ago. Net loss was $6,650,673 compared to $4,447,705 a year ago. Adjusted EBITDA loss was $1,380,000 compared to $551,000 a year ago. Adjusted net loss was $3,595,000 compared to $3,078,000 a year ago. Cash used in operating activities was $1.9 million as compared to cash used by operating activities of $1.6 million for the quarter ended June 30, 2017.

For the six months, the company's net revenues were $30,400,175 compared to $26,483,555 a year ago. Loss from operations was $10,643,929 compared to $6,194,991 a year ago. Net loss before provision for income taxes was $10,593,657 compared to $7,005,497 a year ago. Net loss was $10,611,569 compared to $7,064,503 a year ago. Adjusted EBITDA loss was $2,448,000 compared to adjusted EBITDA of $289,000 a year ago. Adjusted net loss was $7,049,000 compared to $5,049,000 a year ago. Net cash used in operating activities was $4,550,718 compared to $821,650 a year ago. Purchases of property, equipment, and intangible assets was $629,662 compared to $470,046 a year ago.

The company announced goodwill impairment of $2,474,819 for the second quarter ended June 30, 2018.

The company provided earnings guidance for the third quarter and full year of fiscal 2018. For the third quarter of 2018, the company expects net revenue to be between $14.6 million and $15.4 million and adjusted EBITDA loss to be between $1.2 million and $2 million. This compares to net revenue of $13.5 million and adjusted EBITDA loss of $432,000 for the third quarter of 2017.

For fiscal 2018, the company expects net revenue between $57.5 million and $60.5 million and adjusted EBITDA loss between $4.95 million and $6.95 million. This compares to net revenue of $54.5 million and adjusted EBITDA loss of $1.2 million for 2017.