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Mindbody Idea Proposal (MB)

Mindbody Idea Proposal (MB)
 

Will Mindbody experience a breakout year in 2017?

Report Available: January 25, 2017

 

Blueshift’s initial research shows MB well positioned as the leading cloud-based business management software and payments platform to the health and wellness industry. MB was founded in 2001 and has a network of more than 58,000 small and midsize businesses in 130 countries, centered on scheduling appointments, online booking of classes, instructor tracking, as well as marketing and payments functions for gyms, spas, and fitness studios. MB has doubled its size every two years for 12 consecutive years. Despite this success, MB has yet to turn a profit since going public in 2015.

 

Observations

  1. MB reported Q3 revenue of $35.3 million which resulted in a loss of $5.9 million. However, the results beat Wall Street earnings and revenue expectations. The company said the business grew 35% year to year in the quarter and loses were reduced 70% year to year. Profitability is expected in Q1 2017.
  2. MB made impressive strides in the third quarter with record growth, an acquisition, and two significant partnership announcements.
  3. MB has also been stacking up the awards and accolades.
  4. Challenges facing MB include mixed customer reviews. In the salon and fitness software category on the Capterra review site, MB software received a rating of 3.5 out of 5 with 290 reviews. Concerns expressed included the software’s high cost, lack of flexibility, poor service, and high level of software bugs.

 

What is the customer satisfaction level for MB subscribers? Why do subscribers choose MB over competitors? Which new products and features are MB subscribers adding in 2017? What is the potential for the UA partnership and the corporate wellness product? To answer these and other questions, Blueshift will gather data and issue a market research report from independent sources in the following areas: Fitness studios, Salons and spas, Health and wellness IT professionals, Corporate wellness professionals, and Industry specialists.

 

Companies: Mindbody (MB)

 

Research Begins: Jan. 9, 2017