The Beachbody Company, Inc. · NASDAQ:BODI

The Beachbody — Q3 2023 Earnings Presentation

18 slides from The Beachbody's earnings presentation, Nov 7, 2023

  1. Slide 1: The Beachbody Company

    The Beachbody Company Ticker: BODY November 2023

  2. Slide 2: Forward-Looking Statements

    FORWARD-LOOKING STATEMENTS ▪ This presentation of The Beachbody Company, Inc. (the "Company”) contains “forward-looking” statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which are statements other than historical fact or in the future tense.

  3. Slide 3: The only Fitness, Nutrition and Wellness platform

    Ticker: BODY The only Fitness, Nutrition and Wellness platform MYX Connected Bike Key Metrics: Track Record: • Q3-23 Revenue: $128.3 million • History of EBITDA Profitability • Q3-23 Total Paid subscriptions: 1.6 million • Impacted over 30 million consumers • Q3-23 Gross margin: 59% • 786 million vid

  4. Slide 4: Management Team

    MANAGEMENT TEAM A Strong, Collaborative Team with Extensive Experience Carl Daikeler Mark Goldston Marc Suidan Co-Founder & CEO Executive Chairman • Chairman and CEO of United Chief Financial Officer • Home Fitness category • Led Global PwC TMT Online (and predecessor NetZero) pioneer Deals • Preside

  5. Slide 5: The Beachbody Company: Key Metrics

    THE BEACHBODY COMPANY Key Metrics Nutrition Digital 46% of Revenue 50% of Revenue 177K 55% 1.4M 75% Paid Gross Margin Paid Subscriptions Gross Margin Subscriptions 23M 120 Streamed Views Streaming programs $83 30+ Monthly Average Order Product Types Value 8,500 96% Unique Streaming Videos Average Mo

  6. Slide 6: The Only Fitness, Nutrition and Wellness Platform

    THE BEACHBODY COMPANY The Only Fitness, Nutrition and Wellness Platform Nutrition Digital Connected Fitness 46% of Revenue 50% of Revenue 4% of Revenue ▪ Nutritional products such as shakes, bars and ▪ $179 annual membership with access to: ▪ Professional-grade stationary cycle supplements with a 36

  7. Slide 7: 25+ Years of Premium Fitness Content

    25+ YEARS OF PREMIUM FITNESS CONTENT 7

  8. Slide 8: Focused on Cash Flow

    FOCUSED ON CASH FLOW Proven History of EBITDA Profitability Revenue Adjusted EBITDA $ in Thousand $ in Thousand Annual Q3 Annual Q3 2021 2022 Q3-2022 Q3-2023 2019 2020 Gross Adj. Margin 72.2% 71.1% 62.4% 53.4% 63.1% 58.5% 10.4% 6.0% (9.9)% (3.4)% (3.5)% (4.5)% EBITDA Margin Source: Public SEC filings

  9. Slide 9: Cash Used in Operating and Investing Activities

    CASH USED IN OPERATING AND INVESTING ACTIVITIES Cash used in operating and investing activities Cash used in operating and investing activities (QoQ) $ in Thousand $ in Thousand 9

  10. Slide 10: Current vs. Targeted Financial Model

    CURRENT VS. TARGETED FINANCIAL MODEL Q3 2023 Target Nutrition Gross Margin 55% 60% Digital Gross Margin 75% 80% Blended Gross Margin 59% 65-70% Sales & Marketing Expense (% of revenue) 54% 45% Tech & G&A Expense (% of revenue) 26% 20-25% Net Income, EBITDA & Free Cash Flow Negative Positive 10

  11. Slide 11: Our Turnaround Story

    OUR TURNAROUND STORY Completing our Transformation Key Pillars Initiative Status Commentary Dramatically Lower Cost Reduction Complete $165M in cost savings since 2021 Breakeven 80% Price Increase New Digital Platform Complete 60% renewal (same at $179 as at $99) from BOD to BODi Freemium Tier Launc

  12. Slide 12: Recent Developments

    RECENT DEVELOPMENTS ✔ Reduction in Sales & Marketing Expense • Changes to partner network compensation combined with re-activating past customers results in additional savings starting in January 2024 ✔ Addition of Brendon Burchard as Chief Growth and Performance Advisor • #1 New York Times, #1 Amaz

  13. Slide 13: Operating in a Large, Underpenetrated Market

    OPERATING IN A LARGE, UNDERPENETRATED MARKET OUR TAMs: PERSISTING HEALTH ISSUES $237 BILLION OPPORTUNITY TOTAL ADDRESSABLE MARKET ▪ 74% of adults in the US are overweight—this presents a massive opportunity IN BILLIONS $49B ▪ Digital Fitness: $13 billion, growing at 31% through 2032 DIGITAL FITNESS

  14. Slide 14: Created Several Billion Dollar Franchises

    CREATED SEVERAL BILLION DOLLAR FRANCHISES At Each Major Pivot, We Accelerated Our Path to a $1B in Aggregate Revenues YEAR YEARS YEARS OUR KEY PIVOTS LAUNCHED TO $100M (cum) TO $1B (cum) 2000 5 17 2009 3 7 2016 1 6 2023 1 5 14

  15. Slide 15: Our Social Media Following

    OUR SOCIAL MEDIA FOLLOWING Company Micro-Influencers (Coaches/Partners) Beachbody/BODi Shakeology BODiCoach411 Carl Daikeler Emily Fauver Natasha Pehrson Hailey Peters Jess Dukes 4.5M 1.0M 0.8M 0.4M 5.5M 2.4M 1.4M 0.6M Super Trainers Shaun T Ilana Muhlstein Autumn Calabrese Joel Freeman Jericho McMat

  16. Slide 16: Valuable Underlying Assets

    VALUABLE UNDERLYING ASSETS ✔ Comprehensive, diverse fitness library with 120 programs and 8,500+ unique streaming videos • Competitive moat, hard to replicate 25+ years of content creation ✔ Strong nutrition & other subscription business with ~$270 million of revenue at ~55% gross margin1 ✔ Large cus

  17. Slide 17: Adjusted EBITDA Reconciliation

    ADJUSTED EBITDA RECONCILIATION 17

  18. Slide 18: Q&A

    Ticker: BODY Q&A 18

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