Mindbody, San Luis Obispo, California, reported second quarter revenue of $33.6 million, marking a 36 percent increase over the second quarter of 2015, according to financials released Thursday. The $33.6 million came in at the high end of Mindbody's previously announced second quarter expectation of a revenue range between $32.7 million and $33.7 million. 
The company's subscription and services revenue was $20.1 million, and payments revenue was $12.9 million in the second quarter. Subscription and services quarterly revenue increased 35 percent, and payments revenue increased 39 percent over the second quarter of 2015.
"The second quarter produced excellent results, highlighted by consistently strong revenue growth and substantial improvement on the bottom line," said Rick Stollmeyer, co-founder and chief executive officer of Mindbody. "In particular, we are pleased with our traction among higher value subscribers. These businesses range from independent practitioners to multi-location enterprise businesses. These are the subscribers most likely to grow, producing increasing future transaction volumes and meaningful inventory for our consumer app and our API partners."
This article originally appeared on Clubindustry.com. Read the full article here.
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