MINDBODY (MB) Sees IPO Price of $13 - $15/Share

MINDBODY, Inc. (Nasdaq: MB) filed an amended registration with the U.S. SEC for an Initial Public Offering of its Common Stock. The company plans to sell 7.15 million shares and sees an offering price of $13 to $15 per share. The company plans to list on the Nasdaq Global Market under the ticker, MB.

Underwriters include Morgan Stanley, Credit Suisse, UBS Investment Bank, Pacific Crest Securities, and JMP Securities.

Financial summary: Our total revenue increased from $32.0 million in 2012, to $48.7 million in 2013 to $70.0 million in 2014, representing year-over-year increases of 52% and 44% in 2013 and 2014, respectively. For the three months ended March 31, 2014 and 2015, our revenue was $15.7 million and $22.3 million, respectively, representing a 42% growth rate. Our net loss was $5.5 million, $16.2 million and $24.6 million for 2012, 2013 and 2014, respectively. For the three months ended March 31, 2014 and 2015, our net loss was $4.8 million and $7.9 million, respectively. Our Adjusted EBITDA was negative $2.5 million, negative $11.5 million and negative $18.8 million for 2012, 2013 and 2014, respectively. For the three months ended March 31, 2014 and 2015, our Adjusted EBITDA was negative $3.8 million and negative $5.3 million, respectively.

MINDBODY is the leading online wellness services marketplace with over 42,000 local business subscribers on our platform in 124 countries and territories employing over 250,000 practitioners who provide a variety of wellness services to over 24 million active consumers.

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