BODI

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

Beachbody (BODi) Reports Third Quarter Financial Results

Net Income Reported for First Time Since Going Public in 2021

Revenues, Net Income and Adjusted EBITDA Better Than Guidance

Gross Margin of 75%-up 730bps over prior year

Eighth Consecutive Quarter of Positive Adjusted EBITDA

Clear Visibility to Positive Free Cash Flow For the Full Year

El Segundo, Calif. (November 10, 2025) – The Beachbody Company, Inc. (NASDAQ: BODi) (“BODi” or the “Company”), a leading fitness and nutrition company, today announced financial results for its third quarter ended September 30, 2025.

Carl Daikeler, BODi's Co-Founder and Chief Executive Officer, commented:

“Our strategic transformation continues to deliver better than expected results. As we continue building a more efficient operating model, we are pleased to have generated net income for the first time since becoming a public company in 2021. We have executed a significant turnaround focused on strengthening our financial position, significantly lowering our break-even point, and enabling the company to capitalize on the operating leverage that is now built into the business. Our improved financial position allows us to leverage our robust innovation pipeline that we have developed with a goal of returning the company to topline growth."

"Looking ahead, we're building on a solid foundation with eight consecutive quarters of positive adjusted EBITDA and clear visibility to positive free cash flow for the full year. Our strengthened balance sheet positions us to expand distribution into new channels and capitalize on the significant opportunities in the health and wellness market. BODi is uniquely positioned to help more people achieve their fitness goals while driving sustainable growth for our shareholders.”

Third Quarter 2025 Results

• Total revenue was $59.9 million compared to $102.2 million in the prior year period.

o Digital revenue was $36.4 million compared to $53.7 million in the prior year period and digital subscriptions totaled 0.90 million in the third quarter.

o Nutrition and Other revenue was $23.5 million compared to $47.4 million in the prior year period and nutritional subscriptions totaled 0.07 million in the third quarter.

o Connected Fitness revenue was $0.0 million compared to $1.1 million in the prior year period as we ceased the sale of bike inventory in the first quarter of 2025.

• Gross margin was 74.6% compared to 67.3% in the prior year period.

• Total operating expenses were $39.7 million compared to $81.8 million in the prior year period, which included $9.2 million of restructuring related costs.

• Operating income improved by $18.0 million to $5.0 million, the Company's first operating income since going public, compared to an operating loss of $13.0 million in the prior year period.

• Net income was $3.6 million, the Company's first net income since going public, compared to a net loss of $12.0 million in the prior year period, which included $9.2 million of restructuring related costs.

• Adjusted EBITDA1 was $9.5 million compared to $10.1 million in the prior year period.

• Cash provided by operating activities for the nine months ended September 30, 2025 was $16.8 million compared to cash provided by operating activities of $9.3 million in the prior year period, and cash used in investing activities was $3.7 million compared to cash provided by investing activities of $1.6 million in the prior year period. Free cash flow1 was $13.1 million compared to $5.3 million in the prior year period.

The prior year periods do not reflect the impact of the pivot in our business model that the Company announced on September 30, 2024 and executed in the fourth quarter of 2024, so results are not directly comparable with the prior periods.

1Definitions of (1) Adjusted EBITDA, (2) free cash flow and (3) net cash position, and reconciliations to the comparable GAAP metrics, are at the end of this release.

Exhibit 99.1

Key Operational and Business Metrics

For the Three Months Ended September 30,

For the Nine Months Ended September 30,

2025

2024

Change v 2024

2025

2024

Change v 2024

Digital Subscriptions (in millions)

0.90

1.11

(18.8%)

0.90

1.11

(18.8%)

Nutritional Subscriptions (in millions)

0.07

0.13

(42.5%)

0.07

0.13

(42.5%)

Total Subscriptions (in millions)

0.97

1.24

(21.2%)

0.97

1.24

(20.4%)

Average Digital Retention

96.9%

97.3%

(29bps)

96.9%

96.5%

34bps

Total Streams (in millions)

17.6

20.9

(15.6%)

56.4

69.2

(18.4%)

DAU/MAU

32.0%

31.0%

98bps

32.0%

32.1%

-5bps

Connected Fitness Units Delivered (in thousands)

0.0

1.3

(98.7%)

1.5

6.3

(75.7%)

Digital

$36.4

$53.7

(32.2%)

$119.0

$174.0

(31.6%)

Nutrition & Other

$23.5

$47.4

(50.4%)

$76.3

$153.0

(50.1%)

Connected Fitness

$0.0

$1.1

(100.0%)

$0.9

$5.4

(83.8%)

Revenue (in millions)

$59.9

$102.2

(41.4%)

$196.2

$332.4

(41.0%)

Net Income (loss)

EX-99.1

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EX-99.1

Exhibit 99.1

Beachbody (BODi) Reports Second Quarter Financial Results

Revenues Better Than Guidance

Gross Margin of 72%-up 300bps over prior year

Net Loss Within Guidance

Adjusted EBITDA Better Than Guidance

Seventh Consecutive Quarter of Positive Adjusted EBITDA

El Segundo, Calif. (August 5, 2025) – The Beachbody Company, Inc. (NYSE: BODi) (“BODi” or the “Company”), a leading fitness and nutrition company, today announced financial results for its second quarter ended June 30, 2025.

Carl Daikeler, BODi's Co-Founder and Chief Executive Officer, commented:

“Our better than expected results reflect that the strategic decisions that we have made during our transformation are working. We have significantly reduced our breakeven levels, generated free cash flow for the first half of 2025 and recorded our seventh consecutive quarter of positive adjusted EBITDA. We are now evolving our marketing and distribution models to reach more people with compelling solutions that will significantly broaden our market opportunities. With our dramatically improved cost structure and our strong portfolio of some of the most recognized brands in fitness and nutrition, we will continue to optimize our new agility and efficiencies while developing an exciting product pipeline that we will introduce into new distribution channels that were previously unavailable to us."

"Looking ahead, we have a line of sight to achieving positive free cash flow for the full year 2025 for the first time since 2020, marking an important milestone in our company's transformation. We are confident in our direction and encouraged by our progress, while we remain focused on the disciplined execution to position BODi for long-term success”.

Second Quarter 2025 Results

• Total revenue was $63.9 million compared to $110.2 million in the prior year period.

o Digital revenue was $39.7 million compared to $58.8 million in the prior year period and digital subscriptions totaled 0.94 million in the second quarter.

o Nutrition and Other revenue was $24.2 million compared to $50.1 million in the prior year period and nutritional subscriptions totaled 0.07 million in the second quarter.

o Connected Fitness revenue was $0.1 million compared to $1.3 million in the prior year period as we ceased the sale of bike inventory in the first quarter of 2025.

• Total operating expenses were $50.2 million compared to $85.9 million in the prior year period.

• Operating loss improved by $5.5 million to $4.0 million compared to an operating loss of $9.5 million in the prior year period.

• Net loss was $5.9 million, which included $2.5 million of restructuring related costs, compared to a net loss of $10.9 million in the prior year period.

• Adjusted EBITDA1 was $4.6 million compared to $4.9 million in the prior year period.

• Cash provided by operating activities for the six months ended June 30, 2025 was $6.6 million compared to cash provided by operating activities of $8.2 million in the prior year period, and cash used in investing activities was $2.5 million compared to cash provided by investing activities of $2.7 million in the prior year period. Free cash flow1 was $4.1 million compared to $5.3 million in the prior year period.

The prior year periods do not reflect the impact of the pivot in our business model that the Company announced on September 30, 2024 and executed in the fourth quarter of 2024, so results are not directly comparable with the prior periods.

1Definitions of (1) Adjusted EBITDA, (2) free cash flow and (3) net cash position, and reconciliations to the comparable GAAP metrics, are at the end of this release.

Exhibit 99.1

Key Operational and Business Metrics

For the Three Months Ended June 30,

For the Six Months Ended June 30,

2025

2024

Change v 2024

2025

2024

Change v 2024

Digital Subscriptions (in millions)

0.94

1.15

(18.3%)

0.94

1.15

(18.3%)

Nutritional Subscriptions (in millions)

0.07

0.14

(52.1%)

0.07

0.14

(52.1%)

Total Subscriptions (in millions)

1.01

1.30

(22.0%)

1.01

1.30

(21.3%)

Average Digital Retention

96.7%

96.5%

20bps

96.8%

96.1%

70bps

Total Streams (in millions)

18.0

22.7

(20.4%)

38.8

48.3

(19.7%)

DAU/MAU

31.4%

31.9%

-50bps

32.0%

32.6%

-60bps

Connected Fitness Units Delivered (in thousands)

0.0

1.6

(98.9%)

1.5

5.1

(69.9%)

Digital

$39.7

$58.8

(32.5%)

$82.6

$120.3

(31.3%)

Nutrition & Other

$24.2

$50.1

(51.8%)

$52.8

$105.6

(50.0%)

Connected Fitness

$0.1

$1.3

(94.2%)

$0.9

$4.3

(79.8%)

Revenue (in millions)

$63.9

$110.2

(42.0%)

$136.3

$230.2

(40.8%)

Net Loss (in millions)

($5.9)

($10.9)

45.7%

($11.6)

($25.1)

53.8%

Adjusted EBITDA (in millions)

$4.6

$4.9

(6.1%)

$8.3

$9.5

(12.6%)

Outlook for The Third Quarter of 2025

Outlook For Quarter Ending September 30, 2025

Low

High

(in millions)

Revenue

$

51

$

58

Net Loss

$

(4

)

$

-

Adjustments:

Depreciation

$

2

$

2

Am

EX-99.1

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EX-99.1

Exhibit 99.1

Beachbody (BODi) Reports First Quarter Financial Results and Announces New Three-Year $25 Million Committed Lending Agreement

Strengthens Balance Sheet with New Three-Year $25 Million Committed Lending Agreement

Revenues and Net Loss Better Than Guidance

Gross Margin of 71%-up 350bps over prior year

Adjusted EBITDA Better than Guidance

Sixth Consecutive Quarter of Positive Adjusted EBITDA

El Segundo, Calif. (May 14, 2025) – The Beachbody Company, Inc. (NYSE: BODi) (“BODi” or the “Company”), a leading fitness and nutrition company, today announced financial results for its first quarter ended March 31, 2025.

Carl Daikeler, BODi's Co-Founder and Chief Executive Officer, commented:

"Our first quarter results mark our first full quarter in our new business model and we are pleased to have exceeded our expectations. We continue to generate higher margin revenue streams, with first quarter gross margins at their highest level in five years. We have made significant progress in broadening our go to market strategy, opening new channels of distribution that were not previously available to us. This multi-channel opportunity will allow us to reach more of our addressable market while leveraging our cost structure."

“In addition, we are thrilled to announce a new lending agreement with Tiger Finance for a $25 million, 3-year committed loan facility that we executed on May 13, 2025. This financing allowed us to retire $17.3 million of outstanding debt on May 13, 2025 while also adding approximately $5 million of capital to our balance sheet. We are excited about our new partner Tiger Finance and their conviction with the BODi business plan over the next three years.”

"While we are pleased with our first quarter results, 2025 will be a transition year for the company and it will take time for our strategic initiatives to take hold. However, with our new business model in place, I am very excited about the opportunities to optimize our top-line potential, positioning us for long-term success."

First Quarter 2025 Results

• Total revenue was $72.4 million compared to $120.0 million in the prior year period.

o Digital revenue was $42.9 million compared to $61.5 million in the prior year period and digital subscriptions totaled 1.02 million in the first quarter.

o Nutrition and Other revenue was $28.7 million compared to $55.5 million in the prior year period and nutritional subscriptions totaled 0.08 million in the first quarter.

o Connected Fitness revenue was $0.8 million compared to $3.0 million in the prior year period and approximately 1,500 bikes were delivered in the first quarter.

• Total operating expenses were $55.2 million compared to $92.1 million in the prior year period.

• Operating loss improved by $7.1 million to $3.7 million compared to an operating loss of $10.8 million in the prior year period.

• Net loss was $5.7 million compared to a net loss of $14.2 million in the prior year period.

• Adjusted EBITDA1 was $3.7 million compared to $4.6 million in the prior year period.

• Cash provided by operating activities for the three months ended March 31, 2025 was $2.3 million compared to cash provided by operating activities of $9.1 million in the prior year period, and cash used in investing activities was $0.7 million compared to cash provided by investing activities of $3.9 million in the prior year period. Free cash flow1 was $1.6 million compared to $7.4 million in the prior year period.

Exhibit 99.1

1Definitions of (1) Adjusted EBITDA, (2) free cash flow and (3) net cash position, and reconciliations to the comparable GAAP metrics, are at the end of this release.

New Lending Agreement

BODi today announced a $35.0 million, 3-year loan facility, which includes a $10.0 million uncommitted accordion. The Company borrowed $25.0 million on May 13, 2025 and used the proceeds to fully retire the $17.3 million of outstanding debt with Blue Torch Capital as of the repayment date of May 13, 2025, ahead of the February 2026 maturity date of that loan, and provided the Company approximately $5 million in additional capital on the balance sheet.

Exhibit 99.1

Key Operational and Business Metrics

For the Three Months Ended March 31,

2025

2024

Change v 2024

Digital Subscriptions (in millions)

1.02

1.22

(16.6%)

Nutritional Subscriptions (in millions)

0.08

0.15

(47.7%)

Total Subscriptions (in millions)

1.10

1.37

(20.0%)

Average Digital Retention

97.0%

95.7%

130bps

Total Streams (in millions)

20.7

25.6

(19.0%)

DAU/MAU

32.5%

33.2%

-70bps

Connected Fitness Units Delivered (in thousands)

1.5

3.5

(56.9%)

Digital

$42.9

$61.5

(30.2%)

Nutrition & Other

$28.7

$55.5

(48.4%)

Connected Fitness

$0.8

$3.0

(73.6%)

Revenue (in millions)

$72.4

$120.0

(39.7%)

Net Loss (in millions)

($5.7)

($14.2)

59.6%

Adjusted EBITDA (in millions)

$3.7

$4.6

(19.6%)

Outlook for The Second Quarter of 2025

Outlook Fo

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EX-99.1

Exhibit 99.1

Beachbody (BODi) Reports Fourth Quarter and FY 2024 Financial Results

Revenues in-line with the high-end of Guidance

Gross Margin of 70.5%-up 830 bps over prior year

Net Loss of $35 million includes Goodwill Impairment

Achieves Fifth Consecutive Quarter of Positive Adjusted EBITDA

El Segundo, Calif. (March 27, 2025) – The Beachbody Company, Inc. (NYSE: BODi) (“BODi” or the “Company”), a leading fitness and nutrition company, today announced financial results for its fourth quarter ended December 31, 2024.

"2024 was a pivotal year at BODi, as we continued to build upon our strategy to transform the Company. Our turnaround plan successfully streamlined our digital platform, lowering our breakeven point and enhancing our liquidity position,” said Carl Daikeler, BODi’s Co-Founder and Chief Executive Officer. "We generated higher margin revenue streams and achieved positive operating cash flows while successfully rearchitecting the company from a Multi-Level Marketing network to a single level affiliate model. As we move into 2025, we have laid the foundation to execute the next phase of our turnaround which will maximize our market opportunities, and continue to generate positive operating cash flow through our multi-channel strategy and new innovative products.”

Fourth Quarter 2024 Results

• Total revenue was $86.4 million compared to $119.0 million in the prior year period and was at the high end of the guidance range.

o Digital revenue was $50.4 million compared to $64.0 million in the prior year period and digital subscriptions totaled 1.07 million in the fourth quarter.

o Nutrition and Other revenue was $34.8 million compared to $51.8 million in the prior year period and nutritional subscriptions totaled 0.09 million in the fourth quarter.

o Connected Fitness revenue was $1.2 million compared to $3.2 million in the prior year period and approximately 2,700 bikes were delivered in the fourth quarter.

• Total operating expenses were $93.8 million, which included a $20.0 million impairment of goodwill, compared to $134.3 million in the prior year period, which included a $43.1 million impairment of goodwill and intangible assets.

• Operating loss decreased by $27.5 million to $32.9 million compared to an operating loss of $60.4 million in the prior year period.

• Net loss was $34.6 million, which included a $20.0 million impairment of goodwill, compared to a net loss of $65.0 million in the prior year period, which included a $43.1 million impairment of goodwill and intangible assets.

• Adjusted EBITDA1 was $8.7 million compared to $2.8 million in the prior year period.

Full Year 2024 Results

• Total revenue was $418.8 million compared to $527.1 million in the prior year.

o Digital revenue was $224.3 million compared to $258.4 million in the prior year.

o Nutrition and Other revenue was $187.8 million compared to $249.5 million in the prior year.

o Connected Fitness revenue was $6.6 million compared to $19.2 million in the prior year and approximately 9,000 bikes were delivered in 2024.

• Total operating expenses were $353.6 million, which included a $20.0 million impairment of goodwill, compared to $464.1 million in the prior year, which included a $43.1 million impairment of goodwill and intangible assets.

• Operating loss decreased by $74.8 million to $66.2 million compared to an operating loss of $141.0 million in the prior year.

• Net loss was $71.6 million, which included a $20.0 million impairment of goodwill, compared to a net loss of $152.6 million in the prior year, which included a $43.1 million impairment of goodwill and intangible assets.

Exhibit 99.1

• Adjusted EBITDA1 was $28.3 million compared to a loss of $8.7 million in the prior year.

• Cash provided by operating activities for the year ended December 31, 2024 was $2.6 million compared to cash used in operating activities of $22.5 million in the prior year, and cash provided by investing activities was $1.1 million compared to cash used in investing activities of $10.8 million in the prior year. Free cash flow1 was $(2.0) million compared to $(29.1) million in the prior year.

1Definitions of (1) Adjusted EBITDA, (2) free cash flow and (3) net cash position, and reconciliations to the comparable GAAP metrics, are at the end of this release.

Exhibit 99.1

Key Operational and Business Metrics

As of or for the Three Months Ended December 31,

As of or for the Year Ended December 31,

2024

2023

Change v 2023

2024

2023

Change v 2023

Digital Subscriptions (in millions)

1.07

1.31

(18.1

%)

1.07

1.31

(18.1

%)

Nutritional Subscriptions (in millions)

0.09

0.16

(44.1

%)

0.09

0.16

(44.1

%)

Total Subscriptions (in millions)

1.16

1.47

(21.0

%)

1.16

1.47

(21.0

%)

Average Digital Retention

97.8

%

96.9

%

90bps

96.8

%

96.0

%

80bps

Total Streams (in millions)

18.2

20.4

(10.5

%)

87.4

98.2

(11.1

%)

DAU/MAU

30.7

%

30.3

%

EX-99.1

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EX-99.1

Exhibit 99.1

Beachbody (BODi) Reports Third Quarter Financial Results

Revenues in-line with the mid-point of Guidance

Gross Margin of 67%-up 880bps over prior year

Net Loss in-line with Guidance

Fourth Consecutive Quarter of Positive Adjusted EBITDA

El Segundo, Calif. (November 12, 2024) – The Beachbody Company, Inc. (NYSE: BODi) (“BODi” or the “Company”), a leading fitness and nutrition company, today announced financial results for its third quarter ended September 30, 2024.

Carl Daikeler, BODi's Co-Founder and Chief Executive Officer, commented:

"Our third quarter results demonstrated the continued successful execution of the first phase of our turnaround plan, with significant improvements in adjusted EBITDA and positive free cash flow generation. As we enter the next phase of our transformation, we are evolving our distribution model to a modern affiliate network that will broaden our market opportunities and further optimize our cost structure."

"On September 30, 2024, we announced a major change in our business model from a multi-level marketing ("MLM") to a single-level affiliate network. This pivot marks a strategic shift that will fundamentally transform our company and positions us well for long-term profitable growth. This change of our distribution strategy, combined with the expansion of our direct-to-consumer and partnership channels, represents a pivotal moment that will remove legacy barriers associated with the former MLM structure and allow us to fully capitalize on the significant market opportunity in health, nutrition, and wellness."

"We're already seeing a strong number of signups from former partners in our network to our new single level affiliate program since our November 1st launch, and with upcoming initiatives like our Belle Vitale program and expanded sales channels, we're well-positioned to help people realize their health and fitness objectives."

Third Quarter 2024 Results

• Total revenue was $102.2 million compared to $128.3 million in the prior year period.

o Digital revenue was $53.7 million compared to $64.3 million in the prior year period and digital subscriptions totaled 1.11 million in the third quarter.

o Nutrition and Other revenue was $47.4 million compared to $59.0 million in the prior year period and nutritional subscriptions totaled 0.13 million in the third quarter.

o Connected Fitness revenue was $1.1 million compared to $4.9 million in the prior year period and approximately 1,300 bikes were delivered in the third quarter.

• Total operating expenses were $81.8 million compared to $104.0 million in the prior year period.

• Operating loss improved by $16.0 million to $13.0 million compared to an operating loss of $29.0 million in the prior year period.

• Net loss was $12.0 million, which included $9.2 million of restructuring related costs related to the transition from an MLM model to a single level affiliate model, compared to a net loss of $32.7 million in the prior year period.

• Adjusted EBITDA1 was $10.1 million compared to a loss of $5.8 million in the prior year period.

• Cash provided by operating activities for the nine months ended September 30, 2024 was $9.3 million compared to cash used in operating activities of $14.6 million in the prior year period, and cash provided by investing activities was $1.6 million compared to cash used in investing activities of $9.7 million in the prior year period. Free cash flow1 was $5.3 million compared to $(20.1) million in the prior year period.

1Definitions of (1) Adjusted EBITDA, (2) free cash flow and (3) net cash position, and reconciliations to the comparable GAAP metrics, are at the end of this release.

Exhibit 99.1

Key Operational and Business Metrics

For the Three Months Ended September 30,

For the Nine Months Ended September 30,

2024

2023

Change v 2023

2024

2023

Change v 2023

Digital Subscriptions (in millions)

1.11

1.38

(19.7%)

1.11

1.38

(19.7%)

Nutritional Subscriptions (in millions)

0.13

0.18

(27.3%)

0.13

0.18

(27.3%)

Total Subscriptions (in millions)

1.23

1.56

(20.6%)

1.23

1.56

(20.6%)

Average Digital Retention

97.3%

96.2%

110bps

96.5%

95.7%

80bps

Total Streams (in millions)

20.9

22.9

(8.9%)

69.2

77.9

(11.2%)

DAU/MAU

31.0%

30.8%

20bps

32.1%

31.6%

50bps

Connected Fitness Units Delivered (in thousands)

1.3

6.5

(80.8%)

6.3

16.7

(62.1%)

Digital

$53.7

$64.3

(16.5%)

$174.0

$194.3

(10.5%)

Nutrition & Other

$47.4

$59.0

(19.6%)

$153.0

$197.7

(22.6%)

Connected Fitness

$1.1

$4.9

(78.2%)

$5.4

$16.0

(66.3%)

Revenue (in millions)

$102.2

$128.3

(20.3%)

$332.4

$408.1

(18.5%)

Net Loss (in millions)

($12.0)

($32.7)

63.3%

($37.1)

($87.6)

57.7%

Adjusted EBITDA (in millions)

$10.1

($5.8)

NM

$19.6

($11.5)

NM

NM: Not Meaningful

Outlook for The Fourth Quarter of 2024

Outlook For Quarter Ending December 31, 2024

Low

High

(in millions)

Revenue

$

77

$

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EX-99.1

Exhibit 99.1

Beachbody (BODi) Announces Q2 2024 Results: Revenue Surpasses Midpoint of Guidance, Net Loss and Adjusted EBITDA Better Than Guidance

Lowest Net Loss Since Going Public

Third Consecutive Quarter of Positive Adjusted EBITDA

Overall gross margin of 69% - best since 2021

El Segundo, Calif. (August 6, 2024) – The Beachbody Company, Inc. (NYSE: BODi) (“BODi” or the “Company”), a leading fitness and nutrition company, today announced financial results for its second quarter ended June 30, 2024.

Carl Daikeler, BODi's Co-Founder and Chief Executive Officer, commented:

"Our focus is on returning to growth, particularly by focusing on the $164 billion nutrition market, which presents an opportunity more than 12 times larger than the $13 billion fitness market. Nutrition was once an $800 million product line for us, more than double our fitness offerings at the time."

"We are implementing multiple new strategies to recapture a significant portion of the vast nutrition market opportunity which is characterized by consistent growth. This is a market that the Company knows extremely well. BODi has had a meaningful presence in the nutrition market dating back 20 years, and runs this business with very high gross margins."

"In parallel, we have significantly improved our operations and efficiency, reducing our revenue breakeven point1 by more than 40% from over $900 million to under $500 million. This positions us well to generate sustainable cash flows as we execute our growth initiatives, with a key focus on the nutrition business."

Second Quarter 2024 Results

• Total revenue was $110.2 million compared to $134.9 million in the prior year period.

o Digital revenue was $58.8 million compared to $65.2 million in the prior year period and digital subscriptions totaled 1.15 million in the second quarter.

o Nutrition and Other revenue was $50.1 million compared to $64.6 million in the prior year period and nutritional subscriptions totaled 0.14 million in the second quarter.

o Connected Fitness revenue was $1.3 million compared to $5.1 million in the prior year period and approximately 1,600 bikes were delivered in the second quarter.

• Total operating expenses were $85.9 million compared to $106.9 million in the prior year period.

• Operating loss improved by $14.7 million to $9.5 million compared to an operating loss of $24.2 million in the prior year period.

• Net loss was $10.9 million compared to a net loss of $25.7 million in the prior year period.

• Adjusted EBITDA2 was $4.9 million compared to a loss of $4.8 million in the prior year period.

• Cash provided by operating activities for the six months ended June 30, 2024 was $8.2 million compared to cash used in operating activities of $14.4 million in the prior year period, and cash provided by investing activities was $2.7 million compared to cash used in investing activities of $5.0 million in the prior year period. Free cash flow2 was $5.3 million compared to $(19.4) million in the prior year period.

1Revenue breakeven point is defined as the revenue necessary to achieve a breakeven in our adjusted EBITDA, which is defined at the end of this release along with a reconciliation to net loss.

2A definition of (1) Adjusted EBITDA and reconciliation to net loss, (2) free cash flow and (3) net cash position are at the end of this release.

Exhibit 99.1

Key Operational and Business Metrics

For the Three Months Ended June 30,

For the Six Months Ended June 30,

2024

2023

Change v 2023

2024

2023

Change v 2023

Digital Subscriptions (in millions)

1.15

1.53

(24.9%)

1.15

1.53

(24.9%)

Nutritional Subscriptions (in millions)

0.14

0.20

(26.2%)

0.14

0.20

(26.2%)

Total Subscriptions (in millions)

1.29

1.73

(25.0%)

1.29

1.73

(25.0%)

Average Digital Retention

96.5%

95.2%

130bps

96.1%

95.5%

60bps

Total Streams (in millions)

22.7

25.3

(10.4%)

48.3

55.0

(12.1%)

DAU/MAU

31.9%

31.6%

30bps

32.6%

32.1%

50bps

Connected Fitness Units Delivered (in thousands)

1.6

5.5

(71.7%)

5.1

10.2

(50.1%)

Digital

$58.8

$65.2

(9.9%)

$120.3

$130.0

(7.5%)

Nutrition & Other

$50.1

$64.6

(22.5%)

$105.6

$138.7

(23.9%)

Connected Fitness

$1.3

$5.1

(74.3%)

$4.3

$11.1

(61.0%)

Revenue (in millions)

$110.2

$134.9

(18.4%)

$230.2

$279.8

(17.7%)

Net Loss (in millions)

($10.9)

($25.7)

57.8%

($25.1)

($54.9)

54.3%

Adjusted EBITDA (in millions)

$4.9

($4.8)

NM

$9.5

($5.7)

NM

NM: Not Meaningful

Outlook for The Third Quarter of 2024

Outlook For Quarter Ending September 30, 2024

Low

High

(in millions)

Revenue

$

97

$

107

Net Loss

$

(13

)

$

(9

)

Adjustments:

Depreciation

$

6

$

6

Amortization of Content Assets

$

4

$

4

Interest Expense

$

1

$

1

Equity-Based Compensation

$

4

$

4

Other Adjustment Items

$

-

$

-

Total Adjustments

$

15

$

15

Adjusted EBITDA

$

2

$

6

Exhibit 99.1

Conference Call and Webcast Informati

8-K

Beachbody Company, Inc. false 0001826889 0001826889 2022-03-01 2022-03-01 0001826889 us-gaap:CommonStockMember 2022-03-01 2022-03-01 0001826889 us-gaap:WarrantMember 2022-03-01 2022-03-01

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 1, 2022

The Beachbody Company, Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-39735

85-3222090

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

400 Continental Blvd, Suite 400

El Segundo, California 90245

(Address of principal executive offices)

(310) 883-9000

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading symbol(s)

Name of exchange on which registered

Class A common stock, par value $0.0001 per share

BODY

New York Stock Exchange

Redeemable warrants, each whole warrant exercisable for one Class A common stock at an exercise price of $11.50

BODY WS

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

The information in this report, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is not to be incorporated by reference into any filing by The Beachbody Company, Inc. (the “Company”), under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language contained in such filing, unless otherwise expressly stated in such filing.

Item 2.02.

Results of Operations and Financial Condition.

On March 1, 2022, the Company announced its financial results for the quarter and year ended December 31, 2021. A copy of the Company’s press release announcing its financial results and certain other information is attached as Exhibit 99.1 to this report.

Item 9.01.

Financial Statements and Exhibits

(d) Exhibits.

The following exhibit is furnished with this report:

99.1

Press release dated March 1, 2022

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

The Beachbody Company, Inc.

(Registrant)

Date: March 1, 2022

/s/ Sue Collyns

Name:

Sue Collyns

Title

President and Chief Financial Officer

EX-99.1

2 d260757dex991.htm

EX-99.1

EX-99.1

Exhibit 99.1

The Beachbody Company, Inc. Announces Third Quarter 2021 Financial Results

Q3 Results and Revised 2021 Revenue Guidance Reflect Product Launch Delays and a Challenging Consumer Demand and Media Environment

Strong Two-Year Growth in Total Subscriptions +46%, Average Digital Retention +40BPS, Total Streams

+35%, and DAU/MAU +20BPS, Reflecting Strong Long-Term Secular Trends

Implements Action Plan to Optimize Near-Term Performance While

Advancing Long-Term Growth Strategies

Announces Strategic Appointments to Leadership Team

Santa Monica, Calif. (November 15, 2021) – The Beachbody Company, Inc. (NYSE: BODY) (“Beachbody” or the “Company”), a leading subscription health and wellness company, today announced financial results for its third quarter ended September 30, 2021.

“While we continued to execute on our strategy to drive growth, the third quarter proved more challenging than forecasted. Our results reflect a confluence of external factors, including softer at-home fitness demand as consumers grew tired of social distancing, and a challenging media environment that did not meet our disciplined ROI requirements, coupled with a short delay in product launches from September to October. Although our digital subscriber base remains strong and engaged with high levels of retention, we did not acquire new subscribers at the rate we expected,” said Carl Daikeler, Beachbody’s Co-Founder, Chairman, and Chief Executive Officer. “We maintained disciplined cost control in the quarter, and we are taking immediate steps to improve customer acquisition and lifetime value, getting back on course to driving profitable growth. As both the CEO and the single largest shareholder, I am laser focused on driving revenue growth, creating value for shareholders, and delivering on our mission.”

Third Quarter 2021 Results

•

Total revenue was $208.1 million, a 17% decrease compared to 2020 and a 6% increase compared to 2019

•

Digital revenue was $94.1 million, a 5% decrease compared to 2020 and a 38% increase compared to 2019

•

Digital subscriptions were 2.64 million, a 1% increase compared to 2020 and a 55% increase compared to 2019

•

95.6% month-over-month average digital retention, a 50-basis point increase compared to 2020 and a 40-basis point increase compared to 2019

•

35.9 million total streams, a 26% decrease compared to 2020, and a 35% increase compared to 2019

•

29.6% DAU/MAU, a 250-basis point decrease compared to 2020, and a 20-basis point increase compared to 2019

•

Connected Fitness revenue was $5.9 million, compared to none in 2020, which preceded the Myx Fitness acquisition

•

There were approximately 14,700 bikes sold in the third quarter. However, only 44% of bikes were delivered to customers, which determines when revenue can be recognized

•

On a pro forma basis, Connected Fitness revenue was $8.9 million in Q3 2020, with roughly 8,600 bikes sold and 118% of bikes sold delivered in the quarter

•

Nutrition and Other revenue was $108.1 million, a 29% decrease compared to 2020 and a 16% decrease compared to 2019

•

Nutritional subscriptions were 0.34 million, compared to 0.44 million in 2020 and 0.34 million in 2019

•

Net loss was $39.9 million, compared to net income of $13.8 million in 2020 and net income of $3.4 million in 2019

•

Adjusted EBITDA was ($43.4) million, compared to $31.4 million in 2020 and $19.5 million in 2019

Key Operational and Business Metrics

The Beachbody Company

Post Merger

Post Merger

For the Three Months Ended September 30,

For the Nine Months Ended September 30,

2021

2020

Change v 2020

2019

Change v 2019

2021

2020

Change v 2020

2019

Change v 2019

Connected Fitness Units Sold (in thousands)

14.7

0.0

NM

0.0

NM

15.2

0.0

NM

0.0

NM

Digital Subscriptions (in millions)

2.64

2.61

1%

1.70

55%

2.64

2.61

1%

1.70

55%

Nutritional Subscriptions (in millions)

0.34

0.44

-23%

0.34

0%

0.34

0.44

-23%

0.34

0%

Total Subscriptions

2.98

3.05

-2%

2.04

46%

2.98

3.05

-2%

2.04

46%

Average Digital Retention

95.6%

95.1%

50bps

95.2%

40bps

95.5%

95.4%

10bps

95.1%

40bps

Total Streams (in millions)

35.9

48.5

-26%

26.5

35%

136.4

137.2

-1%

78.5

74%

DAU/MAU

29.6%

32.1%

(250bps)

29.4%

20bps

32.1%

31.9%

20bps

29.2%

290bps

Connected Fitness

$5.9

$0.0

NM

$0.0

NM

$5.9

$0.0

NM

$0.0

NM

Digital

$94.1

$99.1

-5%

$68.1

38%

$283.5

$240.0

18%

$192.8

47%

Nutrition & other

$108.1

$152.4

-29%

$127.9

-16%

$367.9

$399.3

-8%

$397.8

-8%

Revenue (in millions)

$208.1

$251.5

-17%

$196.0

6%

$657.4

$639.3

3%

$590.7

11%

Net Income/(Loss) (in millions)

$(39.9)

$13.8

-390%

$3.4

-1277%

$(82.4)

$(4.6)

-1707%

$30.5

-370%

Adjusted EBITDA (in millions)

$(43.4)

$31.4

-238%

$19.5

-322%

$(59.5)

$34.9

-270%

$59.2

-201%

Near-Term Actions to Optimize Performance

The Company has implemented immediate actions to optimize