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MINDBODY Reports Q1 Results



MINDBODY Reports First Quarter 2016 Financial Results
Company delivers Revenue growth of 44% Year over Year
Subscription and Services Revenue grows 43% Year over Year
Payments Revenue grows 51% Year over Year

Press release: SAN LUIS OBISPO, Calif. — MINDBODY, Inc. (NASDAQ:MB), the leading provider of cloud-based business management software for the wellness services industry and an emerging consumer marketplace, today announced financial results for the first quarter ended March 31, 2016.

“We had an excellent start to the year marked by accelerating revenue growth and record gross margins,” said Rick Stollmeyer, co-founder and chief executive officer of MINDBODY. “These results demonstrate the ongoing success of all four components of our recurring revenue growth model, including new subscriber additions, our multi-tier subscriber pricing strategy, and our rapidly growing payments and technology partner revenue streams. Looking to the rest of the year, we expect to continue executing our growth strategy and leveraging the network effects rapidly taking hold in our business.”

“MINDBODY had a great first quarter, highlighted by 44% total revenue growth and strong margin improvements,” said Brett White, chief financial officer of MINDBODY. “Given our excellent performance across the business, we are pleased to announce that we are increasing our annual guidance.”

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T.H.E. Journal: PresenceLearning Redesigns and Re-releases Lightyear Tool

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