Financial Data and Key Metrics Changes - The company generated revenue of $86.4 million in Q4 2024, which was at the high end of the guidance range of $77 million to $87 million, but represented a 15% sequential decline and a 27% year-over-year decline [31][32] - Adjusted EBITDA for Q4 was $8.7 million, significantly exceeding the guidance range of $2 million to $6 million, marking the fifth consecutive quarter of positive adjusted EBITDA [10][31] - The company achieved a dramatic improvement in cash flow, generating $2.6 million from operations in 2024 compared to a cash use of $22.5 million in 2023, representing a $25.1 million improvement year-over-year [11][38] Business Line Data and Key Metrics Changes - Digital revenue decreased by 6.2% sequentially to $50.4 million and decreased by 21.4% year-over-year, impacted by a decline in digital subscriber count [32][33] - Nutrition revenue decreased by 26.6% sequentially to $34.8 million and decreased by 32.8% year-over-year, with nutrition subscriptions declining by 29.2% sequentially [33][34] - Digital gross margin was 85.9% for the quarter, exceeding the long-term target of 80%, while nutrition gross margin was 52.3%, reflecting a decline due to the discontinuation of preferred customer fees [34][35] Market Data and Key Metrics Changes - The transition from a multi-level marketing (MLM) model to an omnichannel model has significantly impacted revenue streams, particularly in the nutrition segment [32][33] - The company is seeing strong growth in its Amazon business and has launched on Walmart.com, with expectations for significant growth in these channels [23][24][65] Company Strategy and Development Direction - The company has restructured its business model by phasing out the MLM structure and adopting an omnichannel strategy focused on direct-to-consumer marketing [5][6] - The new affiliate model aims to enhance revenue streams and empower affiliates with performance-based compensation, aligning with the company's direct marketing roots [8][17] - The company plans to introduce new products under popular brand names and expand distribution through various channels, including retail [9][26][66] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that 2025 will be a transition year as the company implements its new business model, which is crucial for long-term competitiveness [12][39] - There is optimism about the growth potential ahead, particularly in the nutrition segment, as the company can now market its products outside the former MLM network [10][66] - The management emphasizes the importance of building profitable revenue and cash flow while navigating the challenges of the transition [17][30] Other Important Information - The company reported a net loss of $34.6 million in Q4, which included $20 million in goodwill impairment expenses, but this represents an improvement compared to the same quarter last year [36][37] - The cash balance at the end of the year was $20.2 million, reflecting a reduction in outstanding debt [38] Q&A Session Summary Question: What was the reaction to the transition to the new affiliate model? - Management indicated that the transition was moderately successful, with some affiliates migrating over, but new affiliate acquisition has been slower than desired. Plans are in place to attract more affiliates from both internal and external sources [43][44][46] Question: How should the P&L structure be viewed moving forward? - The company expects revenues to approximate 60% digital and 40% nutrition, with gross margins of approximately 85% for digital and 50% for nutrition [47][48] Question: What factors contributed to the sequential revenue decline? - The decline is attributed primarily to the transition from the MLM model, with many former affiliates not migrating to the new model [57][58] Question: What is the outlook for the nutrition business? - The nutrition segment is seen as a major opportunity, with plans to market products like Shakeology through retail channels for the first time, which is expected to significantly increase revenue [64][66]

Revenue Performance - Total revenue for Q4 2024 was $86.4 million, down 27.4% from $119.0 million in the prior year, and at the high end of guidance[5]. - Full year 2024 total revenue was $418.8 million, down 20.5% from $527.1 million in the prior year[5]. - Total revenue for the year ended December 31, 2024, was $418.8 million, a decrease of 20.6% compared to $527.1 million in 2023[20]. - Digital revenue decreased to $224.3 million in 2024 from $258.4 million in 2023, representing a decline of 13.2%[20]. Digital and Subscription Metrics - Digital revenue decreased by 21.4% to $50.4 million, with digital subscriptions totaling 1.07 million, an 18.1% decline from 1.31 million[5][8]. - Nutrition and Other revenue fell by 32.8% to $34.8 million, with nutritional subscriptions down 44.1% to 0.09 million[5][8]. - The average digital retention rate improved to 97.8%, up from 96.9% in the prior year[8]. Profitability and Loss - Adjusted EBITDA for Q4 2024 was $8.7 million, compared to $2.8 million in the prior year, marking the fifth consecutive quarter of positive adjusted EBITDA[5][8]. - Net loss for Q4 2024 was $34.6 million, a 46.8% improvement from a net loss of $65.0 million in the prior year[5][8]. - Net loss for the year ended December 31, 2024, was $71.6 million, compared to a net loss of $152.6 million in 2023, showing an improvement of 53%[20]. - Operating loss for the year ended December 31, 2024, was $66.2 million, an improvement from an operating loss of $141.0 million in 2023[20]. Cash Flow and Liquidity - Cash and cash equivalents decreased to $20.2 million at the end of 2024 from $33.4 million at the end of 2023, a decline of 39.2%[22]. - Cash flows from operating activities provided $2.6 million in 2024, a significant improvement from cash used of $22.5 million in 2023[22]. - The net cash position as of December 31, 2024, was $1,019 thousand, down from $3,850 thousand as of December 31, 2023[34]. - Free cash flow for the year ended December 31, 2024, was $(1,980) thousand, compared to $(29,113) thousand for the year ended December 31, 2023[37]. Restructuring and Impairment - The company incurred approximately $9.3 million in costs associated with the Pivot restructuring in the three months ended December 31, 2024[38]. - The Pivot restructuring resulted in a reduction of approximately 170 employees, representing 33% of the company's workforce[38]. - Total restructuring costs associated with the Pivot for the year ended December 31, 2024, amounted to $18.5 million[39]. - The company recorded an impairment of goodwill of $20,000 thousand for the year ended December 31, 2024[26]. - The company incurred $20 million in goodwill impairment in 2024, compared to $40 million in 2023[20]. Guidance and Future Outlook - The company expects Q1 2025 revenue guidance between $60 million and $70 million, with a projected net loss between $11 million and $7 million[9].

Financial Data and Key Metrics Changes - The company achieved revenues of $102 million for Q3 2024, which was in line with the midpoint of guidance but represented a 20% year-over-year decline [43][44] - Adjusted EBITDA was $10.1 million, significantly exceeding guidance and marking a $15.9 million improvement from a loss of $5.8 million in Q3 2023 [19][53] - Gross margins improved by 880 basis points year-over-year to 67.3%, although they declined by 200 basis points sequentially [18][45] - The company generated over $5.3 million in positive free cash flow year-to-date, a $25.4 million improvement from a cash burn of $20.1 million in the prior year [20][55] Business Line Data and Key Metrics Changes - Digital revenue decreased by 8.6% sequentially to $53.7 million and declined by 16.5% year-over-year, impacted by a 3.8% decrease in digital subscriber count [46] - Nutrition revenue decreased by 5.4% sequentially to $47.4 million and fell by 19.6% year-over-year, with nutrition subscriptions declining by 11.2% sequentially [47] Market Data and Key Metrics Changes - The company is transitioning from a multilevel marketing (MLM) model to a single-level affiliate model, which is expected to broaden distribution and unlock sales potential [9][47] - The affiliate model began on November 1, 2024, and has already seen a significant number of sign-ups [14][34] Company Strategy and Development Direction - The company has eliminated the MLM structure to adopt a single-level affiliate model, which allows affiliates to keep 100% of their commissions and focuses on performance-based compensation [10][11] - New product launches, including the Belle Vitale program targeting women's hormone health, are planned for December 2024, with a comprehensive marketing strategy to support it [35][76] - The company aims to expand its presence on platforms like Amazon and Walmart.com, enhancing its direct-to-consumer capabilities [30][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the demand for their products and the opportunity for growth, particularly in light of the rise of GLP-1 drugs that require a healthy lifestyle [23][24] - The transition to the affiliate model is seen as a necessary step to modernize sales and improve partner motivation and productivity [28][29] - The company expects Q4 2024 to be a transitional quarter, with revenues projected between $77 million and $87 million, reflecting the shift to the new model [57] Other Important Information - The company has significantly reduced its cash breakeven level and is poised for operating leverage as top-line growth is achieved [17][21] - The outstanding principal balance of debt was $25.3 million as of September 30, 2024, with recent adjustments made to align covenants with the new business model [56] Q&A Session Summary Question: Can you expand on the revenue guidance for Q4? - Management indicated that Q4 is traditionally a softer quarter and this year is a transitional period as the company shifts to the affiliate model [64][65] Question: How will the transition to the affiliate program work? - Existing partners will sign up on the new platform, and the company is marketing the program to a broad database, including current and lapsed subscribers [66][68] Question: What is the status of the Belle Vitale program? - The program has completed testing with positive results and will launch on December 10, 2024, priced at $299 for a comprehensive three-month program [74][76] Question: What features will the new e-commerce platform offer? - The new platform will serve as the primary direct-to-consumer site, allowing for a more robust marketing approach without the constraints of the previous MLM model [80][82] Question: Are there plans for subscription models in digital offerings? - The company currently operates on a digital subscription model and will continue to offer individual programs for purchase [84] Question: What percentage of sales comes from mobile devices? - While specific percentages are not disclosed, it is noted that over 70% of consumers utilize mobile platforms for e-commerce [85]

Revenue Performance - Total revenue for Q3 2024 was $102.2 million, a 20% decrease compared to Q3 2023[141] - For the nine months ended September 30, 2024, total revenue was $332.4 million, a 19% decrease year-over-year[142] - Total revenue for the three months ended September 30, 2024, was $102,193,000, down 20% from $128,250,000 in the same period in 2023[167] - Total revenue for the nine months ended September 30, 2024, was $332,422 thousand, a decrease of 19% compared to $408,099 thousand in the same period of 2023[170] Digital Revenue - Digital revenue decreased by 17% to $53.7 million, while nutrition and other revenue also decreased by 20% to $47.4 million[141] - Digital revenue decreased by $10,637,000 (17%) to $53,702,000, primarily due to a 20% reduction in subscriptions[167] - Digital revenue decreased by $20,347 thousand, or 10%, for the nine months ended September 30, 2024, primarily due to a $19.9 million decrease in revenue from digital streaming services[170] Nutrition and Other Revenue - Nutrition and other revenue fell by $11,565,000 (20%) to $47,416,000, driven by a 27% decrease in nutritional subscriptions[168] - Nutrition and other revenue decreased by $44,700 thousand, or 23%, for the nine months ended September 30, 2024, attributed to a 27% decrease in nutritional subscriptions[171] Connected Fitness Revenue - Connected fitness revenue saw a significant decline of 78%, totaling $1.1 million[141] - Connected fitness revenue decreased by approximately 66% for the nine months ended September 30, 2024, from $16,044 thousand in 2023 to $5,414 thousand in 2024[170] Profit and Loss - The company reported a net loss of $12.0 million for Q3 2024, an improvement from a net loss of $32.7 million in Q3 2023[141] - The company experienced a net loss of $12,003,000 for the three months ended September 30, 2024, compared to a net loss of $32,666,000 for the same period in 2023, representing a significant improvement[160] Adjusted EBITDA - Adjusted EBITDA for Q3 2024 was $10.1 million, compared to a loss of $5.8 million in the same period last year[141] - The company recorded an Adjusted EBITDA of $10,136,000 for the three months ended September 30, 2024, compared to an Adjusted EBITDA loss of $5,833,000 in the same period in 2023[160] Restructuring and Workforce Changes - The company announced a restructuring plan (the "Pivot") that will reduce headcount by approximately 170 employees, representing 33% of the workforce[141] - The Pivot is expected to incur costs of approximately $18.4 million, with $9.2 million recorded in Q3 2024[145] Subscriptions and User Engagement - Digital subscriptions decreased from 1.38 million in September 2023 to 1.11 million in September 2024[150] - Average digital retention improved to 97.3% in September 2024, up from 96.2% in September 2023[151] - Daily Active Users (DAU) to Monthly Active Users (MAU) ratio is used to measure subscriber engagement, indicating how frequently users utilize the service[156] Expenses and Cost Management - Selling and marketing expenses for the three months ended September 30, 2024, were $45,592 thousand, a decrease of 34% from $69,127 thousand in the same period of 2023[184] - Total cost of revenue for the three months ended September 30, 2024, was $33,382,000, down from $53,219,000 in the same period in 2023[164] - Total cost of revenue for the nine months ended September 30, 2024, was $105,953 thousand, a decrease of 33% from $158,984 thousand in 2023[180] Cash Flow and Financing - Net cash provided by operating activities was $9.3 million for the nine months ended September 30, 2024, compared to a net cash used of $(14.6) million in the same period of 2023, reflecting a decrease in net loss and changes in cash flows from various assets[204] - Net cash provided by investing activities was $1.6 million for the nine months ended September 30, 2024, an increase from $(9.7) million in the prior year, attributed to proceeds from the sale of the Van Nuys facility[204] - Net cash used in financing activities decreased to $11.8 million for the nine months ended September 30, 2024, down from $17.7 million in the same period of 2023, primarily due to reduced debt repayments[205] Interest and Tax Provisions - Interest expense for the three months ended September 30, 2024, decreased by $428 thousand (21%) compared to the same period in 2023, attributed to principal prepayments on the Term Loan[198] - The income tax provision increased by $52,000 (83%) for the three months ended September 30, 2024, compared to the same period in 2023, primarily due to changes in valuation allowance and net expense from discrete events[201] Currency and Exchange Rate Impact - Approximately 10% of the company's revenue for the nine months ended September 30, 2024, was in foreign currencies, primarily Canadian dollars and British pounds[221] - A hypothetical 10% change in exchange rates would result in an approximate $2.8 million increase or decrease in cost of revenue and operating expenses[225]

Revenue Performance - Total revenue for Q3 2024 was $102.2 million, a decrease of 20.3% compared to $128.3 million in Q3 2023[3] - Digital revenue was $53.7 million, down 16.5% from $64.3 million in the prior year, with digital subscriptions totaling 1.11 million, a decline of 19.7%[4] - Nutrition and Other revenue was $47.4 million, a decrease of 19.6% from $59.0 million in the prior year, with nutritional subscriptions totaling 0.13 million, down 27.3%[4] - Connected Fitness revenue fell to $1.1 million, down 78.2% from $4.9 million in the prior year, with approximately 1,300 bikes delivered in Q3[4] - The outlook for Q4 2024 projects revenue between $77 million and $87 million[8] - Total revenue for Q3 2024 was $102.2 million, a decrease of 20.3% compared to $128.3 million in Q3 2023[18] - Digital revenue decreased to $53.7 million in Q3 2024 from $64.3 million in Q3 2023, representing a decline of 16.8%[18] - Nutrition and other revenue fell to $47.4 million in Q3 2024, down 19.5% from $59.0 million in Q3 2023[18] Profitability and Loss - Adjusted EBITDA for Q3 2024 was $10.1 million, compared to a loss of $5.8 million in Q3 2023[4] - Net loss for Q3 2024 was $12.0 million, significantly improved from a net loss of $32.7 million in the prior year, including $9.2 million of restructuring costs[4] - Operating loss for Q3 2024 was $13.0 million, an improvement from a loss of $29.0 million in Q3 2023[18] - Net loss for the nine months ended September 30, 2024, was $37.1 million, significantly reduced from $87.6 million in the same period of 2023[19] - The company reported a net loss of $12,003 thousand for the three months ended September 30, 2024, compared to a net loss of $32,666 thousand for the same period in 2023, representing a 63.2% improvement[23] - Adjusted EBITDA for the three months ended September 30, 2024, was $10,136 thousand, compared to an Adjusted EBITDA loss of $5,833 thousand in the same period of 2023, indicating a significant turnaround[23] Operating Expenses and Cash Flow - Total operating expenses decreased to $81.8 million, down from $104.0 million in the prior year[4] - Cash provided by operating activities for the nine months ended September 30, 2024, was $9.3 million, compared to cash used of $14.6 million in the prior year[4] - Cash provided by operating activities for the nine months ended September 30, 2024, was $9.3 million, compared to cash used of $14.6 million in the same period of 2023[19] - Free cash flow for the nine months ended September 30, 2024, was $5,317 thousand, a recovery from a negative free cash flow of $(20,082) thousand in the same period of 2023[28] Strategic Initiatives and Restructuring - The company announced a strategic shift from a multi-level marketing model to a single-level affiliate network, aiming for long-term profitable growth[2] - The company announced a restructuring initiative called the Pivot, which will convert its MLM model to a single-level affiliate model and reduce the workforce by approximately 170 employees, or 33% of its workforce[29] - Total restructuring costs associated with the Pivot are expected to be approximately $18.4 million, with $9.2 million recorded in the three and nine months ended September 30, 2024[29] - Accelerated depreciation expense of $2.9 million was recorded due to the Pivot, impacting certain long-lived assets that will not be used after December 31, 2024[30] - The company expects to record an additional $1.1 million in restructuring expenses in the three months ended December 31, 2024, related to the Pivot[30] - Inventory adjustments of $1.2 million were made due to the decision to cease the sale of connected fitness inventory after December 31, 2024[30] - The company recorded termination and retention benefits of $5,087 thousand as part of the restructuring costs in the three and nine months ended September 30, 2024[30] Cash Position - Cash, cash equivalents, and restricted cash at the end of the period were $32.3 million, down from $38.2 million at the end of the same period in 2023[19] - The net cash position increased to $10,590 thousand as of September 30, 2024, compared to $3,850 thousand at December 31, 2023, reflecting improved liquidity[26]

Financial Performance and Key Metrics - Revenue for Q2 2024 was $110 million, exceeding the midpoint of guidance, but down 8% quarter-over-quarter and 18% year-over-year [24] - The company reported a gross margin of 69%, the highest in three years, with a 160 basis points improvement from the prior quarter and an 800 basis points improvement year-over-year [24][26] - Net loss improved to $11 million from $14 million in the prior quarter and a 58% improvement from a $26 million loss in the same quarter last year [28] - Adjusted EBITDA was $5 million, marking the third consecutive quarter of positive adjusted EBITDA [28] Business Line Performance - Digital revenue decreased 4% from the prior quarter to $59 million and decreased 10% year-over-year, with a digital subscriber count of 1.15 million [24][25] - Nutrition revenue decreased 10% from the prior quarter to $50 million and decreased 22% year-over-year, with nutrition subscriptions at 145,000 [24][25] Market Data and Key Indicators - The total addressable market (TAM) for nutrition is estimated at $164 billion, significantly larger than the $13 billion TAM for fitness [8][9] - The nutrition business was previously a $800 million segment at its peak, indicating substantial growth potential [9][37] Company Strategy and Industry Competition - The company is focused on enhancing cash liquidity and reducing costs, with a goal of achieving $250 million in cost savings by 2024 compared to 2021 levels [6][7] - Strategic initiatives include expanding the digital program purchase option and launching new nutrition products, such as a zero-added sugar version of Shakeology [15][16] - The company aims to leverage its unique position of combining fitness and nutrition to capture a larger market share [8][9] Management Commentary on Operating Environment and Future Outlook - Management expressed optimism about the potential for growth in the nutrition segment, particularly as the company begins to market products outside its direct selling network [37][46] - The company is committed to maintaining a lower cost structure while focusing on generating free cash flow and profitable customer acquisition [42][46] Other Important Information - The company has successfully reduced its revenue breakeven point from over $900 million in 2022 to under $500 million in 2024 [6] - The company has entered the Australian market, launching the BODi app for digital fitness and nutrition content [22][23] Q&A Session Summary Question: What has driven the bullish outlook on the nutrition business? - Management highlighted the large TAM for nutrition and the potential to market superior products to a broader audience beyond the current subscriber base [37][38] Question: What is the status of the win-back campaign with the 14 million database? - The CRM campaign is gradually gaining traction, with efforts to segment the database for better targeting and conversion rates [40][41] Question: How has the partner network trended since commission changes? - The partner network has responded positively to the changes, with ongoing training and support to help them leverage new products and promotions [44]

Revenue Performance - For the three months ended June 30, 2024, total revenue was $110.2 million, an 18% decrease compared to $134.9 million for the same period in 2023[115] - Digital revenue was $58.8 million, a 10% decrease, while nutrition and other revenue was $50.1 million, a 22% decrease[115] - Connected fitness revenue was $1.3 million, reflecting a 74% decrease[115] - Total revenue for Q2 2024 was $110.2 million, a decrease of 18% compared to $134.9 million in Q2 2023[130] - Digital revenue decreased by 10% to $58.8 million in Q2 2024 from $65.2 million in Q2 2023, primarily due to a 25% reduction in subscriptions[133] - Nutrition and other revenue fell by 22% to $50.1 million in Q2 2024 from $64.6 million in Q2 2023, driven by a 26% decrease in nutritional subscriptions[134] - Connected fitness revenue dropped 74% to $1.3 million in Q2 2024 from $5.1 million in Q2 2023, attributed to a 70% decrease in bikes delivered[134] - For the six months ended June 30, 2024, total revenue was $230.2 million, an 18% decrease from $279.8 million in the same period of 2023[135] Operating Expenses and Profitability - Operating expenses were $85.9 million, down from $106.9 million[115] - Adjusted EBITDA for the three months ended June 30, 2024, was $4.9 million, compared to a loss of $4.8 million in the same period last year[115] - Net loss for the three months ended June 30, 2024, was $10.9 million, compared to a net loss of $25.7 million for the same period in 2023[115] - Adjusted EBITDA for Q2 2024 was $4.9 million, compared to a loss of $4.8 million in Q2 2023[128] - Net loss for Q2 2024 was $10.9 million, an improvement from a net loss of $25.7 million in Q2 2023[130] - Total operating expenses for Q2 2024 were $85.9 million, down from $106.9 million in Q2 2023[130] - The company incurred a loss of $719,000 on partial debt extinguishment in Q2 2024[130] Subscription and Retention Metrics - Digital subscriptions decreased to 1.15 million from 1.53 million year-over-year[119] - Average digital retention improved to 96.5% for the three months ended June 30, 2024, compared to 95.2% for the same period in 2023[120] - Total streams decreased to 22.7 million for the three months ended June 30, 2024, down from 25.3 million in the same period last year[120] Cost Management and Margins - Total revenue cost decreased by 35% to $33,807,000 in Q2 2024 from $52,204,000 in Q2 2023[141] - Digital gross margin increased to 80.5% in Q2 2024 from 75.0% in Q2 2023, while total gross margin improved to 69.3% from 61.3%[141] - Selling and marketing expenses decreased by 26% to $56,308,000 in Q2 2024 from $76,492,000 in Q2 2023, representing 51.1% of total revenue[145] - Nutrition and other revenue cost decreased by 28% to $19,621,000 in Q2 2024 from $27,202,000 in Q2 2023[141] - Connected fitness cost of revenue decreased by 69% to $2,710,000 in Q2 2024 from $8,666,000 in Q2 2023[141] - Total gross profit decreased by 8% to $76,376,000 in Q2 2024 from $82,744,000 in Q2 2023[141] - Enterprise technology and development expenses decreased by 8% to $17,162,000 in Q2 2024 from $18,650,000 in Q2 2023[148] - Nutrition and other gross margin increased to 60.8% in Q2 2024 from 57.9% in Q2 2023[141] - Total cost of revenue for the first six months of 2024 decreased by 31% to $72,571,000 from $105,765,000 in the same period of 2023[143] - Connected fitness gross margin remained flat despite a significant decrease in revenue, indicating stable cost management[143] General and Administrative Expenses - General and administrative expenses for the three months ended June 30, 2024, were $12.4 million, an increase of 4% compared to $11.9 million for the same period in 2023[153] - General and administrative expenses as a percentage of total revenue increased by 240 basis points to 11.2% for the three months ended June 30, 2024, compared to 8.8% in the prior year[154] - For the six months ended June 30, 2024, general and administrative expenses decreased by 13% to $25.9 million from $29.6 million in the same period in 2023[155] Restructuring and Debt Management - Restructuring charges for the six months ended June 30, 2024, were $1.6 million, a decrease of 69% compared to $5.3 million in the same period in 2023[158] - The company made a partial prepayment of $4.0 million on the Term Loan as part of the Fifth Amendment to the Financing Agreement[117] - As of June 30, 2024, the principal balance outstanding under the Term Loan was $25.4 million, with an effective interest rate of 22.71%[167] - The company made partial prepayments on the Term Loan totaling $25.5 million from June 30, 2023, to June 30, 2024[161] Cash Flow and Liquidity - Net cash provided by operating activities was $8.2 million for the six months ended June 30, 2024, compared to a cash used of $(14.4) million in the same period in 2023[165] - The company had cash and cash equivalents totaling $32.3 million as of June 30, 2024[164] - The Financing Agreement contains a minimum revenue financial covenant of $100 million for each fiscal quarter ending on or prior to December 31, 2024[168] - Future capital requirements may vary materially and will depend on revenue growth and economic conditions, with existing cash and cost control initiatives expected to provide sufficient liquidity for the next twelve months[171] Foreign Currency Exposure - Approximately 10% of the company's revenue for the six months ended June 30, 2024, was in foreign currencies, primarily in Canadian dollars and British pounds[175] - The notional amount of the company's outstanding foreign exchange options decreased to zero at June 30, 2024, as all options expired prior to March 31, 2024[176] - A hypothetical 10% change in exchange rates would result in an approximate $2.2 million increase or decrease in cost of revenue and operating expenses[178] - The aggregate notional amount of foreign exchange derivative instruments was $4.4 million at the year ended December 31, 2023[178]

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 ...

The Beachbody Company, Inc. (NYSE:BODI) Q1 2024 Results Conference Call May 6, 2024 5:00 PM ET Company Participants Bruce Williams - Managing Director of ICR Investor Relations Mark Goldston - Executive Chairman of The Beachbody Company Carl Daikeler - Co-Founder and Chief Executive Officer Marc Suidan - Chief Financial Officer Conference Call Participants George Kelly - Roth MKM Jonathan Komp - Baird Susan Anderson - Canaccord BJ Cook - Singular Research Operator Good afternoon, ladies and gentlemen. Welco ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO Section 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39735 The Beachbody Company, Inc. (Exact name of registrant as specified in its charter) Delaware 85-3222090 (State or other jurisdiction ...