Business
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
About this update from The Beachbody Company, Inc.
[{"type":"text","content":"\nStrengthens Balance Sheet with New Three-Year $25 Million Committed Lending Agreement\nRevenues and Net Loss Better Than Guidance\nGross Margin of 71%-up 350bps over prior year\nAdjusted EBITDA Better than Guidance\nSixth Consecutive Quarter of Positive Adjusted EBITDA\n\n EL SEGUNDO, Calif.--(BUSINESS WIRE)--\nThe 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.\n\nCarl Daikeler, BODi's Co-Founder and Chief Executive Officer, commented:\n\n\"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.\"\n\n“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.”\n\n\"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.\"\n\nFirst Quarter 2025 Results\n\n\nTotal revenue was $72.4 million compared to $120.0 million in the prior year period.\n\n\nDigital 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.\n\n\nNutrition 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 quarte...