Mindbody Inc. (MB) on Wednesday reported a loss of $5.9 million in its third quarter.

On a per-share basis, the San Luis Obispo, California-based company said it had a loss of 15 cents. Losses, adjusted for stock option expense, were 9 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.

The business management software developer posted revenue of $35.3 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $35 million.

For the current quarter ending in December, Mindbody said it expects revenue in the range of $37.7 million to $38.7 million.

The company expects full-year revenue in the range of $138.5 million to $139.5 million.

Mindbody shares have risen 18 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $17.90, a climb of 11 percent in the last 12 months.

--Associated Press