Business
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
About this update from The Beachbody Company, Inc.
[{"type":"text","content":"\nRevenues in-line with the high-end of Guidance\nGross Margin of 70.5%-up 830 bps over prior year\nNet Loss of $35 million includes Goodwill Impairment\nAchieves Fifth 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 fourth quarter ended December 31, 2024.\n\n“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.”\n\nFourth Quarter 2024 Results\n\n\nTotal 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.\n\n\nDigital 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.\n\n\nNutrition 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.\n\n\nConnected 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.\n\n\n\n\nTotal 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.\n\n\nOperating loss decreased by $27.5 million to $32.9 million compared to an operating loss of $60.4 million in the prior year period.\n\n\nNet loss was $34.6 million, which included a $20.0 million impairment of goodwill, compared to a ...