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The studios are predominately based on the East and West coasts, located in LA, the Bay Area, Boston, and NYC.YogaWorks has been growing through strategic acquisitions of existing yoga studios with revenues in the range of $700k and $1 million and iPhone Cases by bringing them under the corporate umbrella.The company makes money by selling monthly memberships, multi class packages, and individual drop in class passes.Even though the company has been able to grow revenues and the individual studios are profitable, the corporate entity has lost more than $9 million per year over the last two complete fiscal years. By my estimates, the company is on track to lose over $10 million in FY2017.Even though the growth has been positive, the growth in visits and revenues has not kept up with the growth in yoga studios.Most concerning is that over the last three years, by my estimates, the average class size has been shrinking, translating to lower revenues.Beyond The Numbers As a yoga practitioner, I am leery of the corporate chain culture for this space, not just as a place to practice yoga, but as an investment.First of all, this is a small cap company with a market cap now down over 20% over the last two days.Beyond that, it is a corporate chain that is in the ever more competitive and cutthroat health and fitness segment.I want to thank Seeking Alpha user Bruce7BB for bringing up this thought, which I believe is a great analogy. While not everyone may be familiar with yoga, pretty much everyone knows ice cream.

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iPhone x case One of the most significant aspects of the iPhone 8 is that it will not have the physical home button. Instead it will come with a virtual home button under the glass cover on the screen. As far as its fingerprint sensor is concerned, that is reportedly moving to the Apple logo on the back cover iPhone x case..
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