iPic Entertainment Inc. reported unaudited consolidated earnings results for the quarter ended March 31, 2018. For the quarter, the company reported total revenues were $37,262,000 against $35,573,000 a year ago. Operating loss was $17,125,000 against $6,035,000 a year ago. Net loss before income tax expense was $21,739,000 against $9,806,000 a year ago. Net loss attributable to iPic Entertainment Inc. was $6,376,000 against $9,828,000 a year ago. Cash used in operating activities was $10,626,000 against net cash provided by operating activities was $492,000 a year ago. Purchases of property and equipment was $3,570,000 against $7,942,000 a year ago. EBITDA was $12,285,000 against $1,317,000 a year ago. Adjusted EBITDA was $1,226,000 against Adjusted LBITDA of $41,000 a year ago.

For the year ending December 31, 2018, the company continues to expect total revenue growth is expected to be in the range of 3% to 7%. Comparable-store sales growth of 0% to +5%.
Store-level EBITDA, a non-GAAP measure, of $17.0 million to $18.0 million. Adjusted EBITDA, a non-GAAP measure, loss of $1.5 million to $0.5 million, reflecting a substantial improvement from full year 2017. Capital expenditures of $20 million to $25 million, net of tenant.