iPic Entertainment Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported total revenues of USD 106,522,000 against USD 101,965,000 a year ago. Operating loss was USD 29,673,000 against USD 21,972,000 a year ago. Net loss before income tax expense was USD 42,388,000 against USD 33,890,000 a year ago. Net loss attributable to iPic Entertainment Inc. was USD 14,295,000 against USD 33,955,000 a year ago. Basic and diluted net loss per class A common share was USD 3.09 against USD 1.03 a year ago. LBITDA was USD 15,941,000 against USD 7,420,000 a year ago. Adjusted LBITDA was USD 3,839,000 against USD 1,385,000 a year ago.

For the nine months, the company reported total revenues of USD 31,742,000 against USD 32,591,000 a year ago. Operating loss was USD 7,904,000 against USD 7,373,000 a year ago. Net loss before income tax expense was USD 12,107,000 against USD 11,508,000 a year ago. Net loss attributable to iPic Entertainment Inc. was USD 12,129,000 against USD 11,530,000 a year ago. Cash used in operating activities was USD 20,673,000 against USD 11,670,000 a year ago. Purchases of property and equipment was USD 11,170,000 against USD 13,141,000 a year ago. LBITDA was USD 3,290,000 against USD 2,399,000 a year ago. Adjusted LBITDA was USD 2,798,000 against USD 1,701,000 a year ago.

The company provided earning guidance for the fourth quarter and full year of fiscal 2018. For the quarter, the company expects total revenue of USD 34.5 million to USD 36.5 million. Expects comparable-store sales decrease of 5.0% to 0.0%, inclusive of an estimated 150 basis points of negative impact on screen capacity due to three remodels under construction during October that have since been completed. Expects store-level EBITDA, a non-GAAP measure, of USD 4.0 million to USD 6.0 million. Expects adjusted EBITDA, a non-GAAP measure, loss of USD 1.0 million to profit USD 1.0 million.

For the full year, the company expects total revenue of USD 141 million to USD 143 million. Expects Comparable-store sales growth of 0.0% to 1.0%, inclusive of an approximate 150 basis points of negative. Expects adjusted EBITDA, a non-GAAP measure, loss of USD 5.0 million to USD 3.0 million. Expects capital expenditures of USD 20.0 million to USD 25.0 million, net of tenant improvement dollars.