When YogaWorks Inc. (NASDAQ: YOGA) released its most recent quarterly results late on Monday, the company said that it had a net loss of $3.5 million on $14.5 in revenue. The consensus estimates had called for a net loss per share of $0.21 and $14.59 million in revenue.

The firm acquired 13 studios during the fourth quarter for $5.6 million and ended the period with 66 studios in nine regional markets.

In terms of the guidance for the first quarter, the company expects to see revenue in the range of $14.8 million to $15.3 million. Consensus estimates call for a net loss of $0.15 per share on $17.17 million in revenue.

On the books, YogaWorks cash and cash equivalents were $22.1 million at the end of the quarter, primarily as a result of the capital raised from the company’s initial public offering.

Rosanna McCollough, president and CEO of YogaWorks, commented:

We are pleased with our tremendous accomplishments in 2017, and to have once again delivered financial results that were in line with our expectation in the fourth quarter. We acquired and made great progress on integrating 13 studios during the quarter, and ended the year with 66 locations in nine regions.  During 2017, we brought our brand to the exciting new markets of Atlanta and Houston and increased our leadership position in our existing markets.  As we look ahead, we will continue to build on our momentum.  We remain committed to leveraging our robust pipeline of potential acquisitions and our unique position as the acquirer of choice within the fragmented industry, while also focusing on driving solid performance across our existing studios.

Shares of YogaWorks were last seen down about 23% at $2.20 on Tuesday, with a consensus analyst price target of $5.83 and a post-IPO range of $2.04 to $28.22.

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