Call Start: 17:00 January 1, 0000 5:53 PM ET The Beachbody Company, Inc. (BODY) Q3 2021 Earnings Conference Call November 15, 2021 17:00 ET Company Participants Edward Plank - Vice President of Investor Relations Carl Daikeler - Co-Founder, Chairman & Chief Executive Officer Sue Collyns - President & Chief Financial Officer Conference Call Participants John Heinbockel - Guggenheim Linda Bolton Weiser - D.A. Davidson Jonathan Komp - Baird Operator Good afternoon, ladies and gentlemen. Welcome to the Beachbod ...

Financial Performance - Total revenue for the three months ended September 30, 2021, was $208.1 million, a 17% decrease compared to $251.5 million for the same period in 2020[172] - Digital revenue for the three months ended September 30, 2021, was $94.1 million, a 5% decrease compared to $99.0 million for the same period in 2020[172] - Adjusted EBITDA for the three months ended September 30, 2021, was $(43.4) million, compared to $31.4 million for the same period in 2020[172] - Nutrition and other revenue for the three months ended September 30, 2021, was $108.1 million, a 29% decrease compared to $152.5 million for the same period in 2020[172] - The net loss for the three months ended September 30, 2021, was $39.9 million, compared to net income of $13.8 million for the same period in 2020[172] - Gross profit for the three months ended September 30, 2021, was $135.0 million, with a gross margin of 65%, compared to $180.6 million and 72% for the same period in 2020[180] - Total revenue for the three months ended September 30, 2021, was $208,052, a decrease of 17% compared to $251,479 for the same period in 2020[190] - Digital revenue for the three months ended September 30, 2021, was $94,072, down 5% from $99,082 in the prior year, primarily due to lower growth in digital subscriptions[190] - Nutrition and other revenue decreased by 29% to $108,053 for the three months ended September 30, 2021, primarily due to a $33.6 million drop in nutritional subscriptions[192] - For the nine months ended September 30, 2021, total revenue was $639,299, a slight increase of 3% from $657,379 in the same period of 2020[193] - Digital revenue for the nine months ended September 30, 2021, increased by 18% to $283,547, compared to $239,964 in the prior year[193] Expenses and Costs - Total cost of revenue for the three months ended September 30, 2021, was $73,067, an increase of 3% from $70,925 in the same period of 2020[200] - Gross profit for the three months ended September 30, 2021, was $134,985, down 25% from $180,554 in the prior year[200] - Operating expenses for the three months ended September 30, 2021, totaled $206,808, an increase of 27% compared to $162,678 in the same period in 2020[200] - Selling and marketing expenses for the three months ended September 30, 2021, were $123.98 million, a 24% increase from $153.78 million in the same period in 2020, representing 73.9% of total revenue[209] - Selling and marketing expenses for the nine months ended September 30, 2021, were $438.67 million, up 24% from $352.87 million in the same period in 2020, accounting for 66.7% of total revenue[211] - Enterprise technology and development expenses for the three months ended September 30, 2021, increased by 24% to $29.68 million from $23.85 million in the same period in 2020, representing 14.3% of total revenue[214] - General and administrative expenses for the three months ended September 30, 2021, rose by 41% to $23.35 million from $16.52 million in the same period in 2020, accounting for 11.2% of total revenue[218] - Enterprise technology and development expenses for the nine months ended September 30, 2021, were $83.72 million, a 24% increase from $67.56 million in the same period in 2020, representing 12.7% of total revenue[216] - General and administrative expenses for the nine months ended September 30, 2021, increased by 27% to $58.52 million from $46.23 million in the same period in 2020, accounting for 8.9% of total revenue[219] Cash Flow and Financial Position - As of September 30, 2021, the company had cash and cash equivalents of $199.8 million and $32.0 million of borrowing capacity available under its Credit Facility[232] - The company reported a net cash used in operating activities of $139.3 million for the nine months ended September 30, 2021, primarily due to a net loss of $82.4 million[238] - Net cash provided by financing activities was $390.4 million for the nine months ended September 30, 2021, mainly from $389.1 million in net proceeds from the Business Combination[242] - The company incurred $108.3 million in net cash used in investing activities for the nine months ended September 30, 2021, which included $37.3 million for the acquisition of Myx[240] - Total contractual cash obligations as of September 30, 2021, amounted to $116.7 million, with $59.9 million due within one year[243] - The company anticipates that existing cash and cash equivalents will be sufficient to meet working capital and capital expenditure needs for at least the next 12 months[233] - The company had no borrowings outstanding under the Credit Facility as of September 30, 2021, with a letter of credit issued for $3.0 million[236] - The company reported a significant increase in inventory, with a $68.8 million rise contributing to the net cash used in operating activities[238] - The company plans to maintain a compensating cash balance for the $3.0 million letter of credit after terminating the Credit Facility in November 2021[237] Tax and Liabilities - The change in fair value of warrant liabilities was $30.27 million for the three months ended September 30, 2021, primarily due to a decrease in stock price[225] - The income tax benefit for the three months ended September 30, 2021, was $1.49 million, a 136% increase compared to a provision of $4.13 million in the same period in 2020[228] - The income tax benefit for the nine months ended September 30, 2021, was $12.74 million, a significant increase of 7812% compared to $161 in the same period in 2020[231] - The company recorded a net deferred tax asset of $16.6 million as a benefit for income taxes from operations following a change in entity status for income tax purposes[257] Foreign Currency and Inflation - Approximately 10% of the company's revenue for the three and nine months ended September 30, 2021, was in foreign currencies, up from 9% in the same periods of 2020[263] - The aggregate notional amount of foreign exchange derivative instruments was $32.6 million as of September 30, 2021, compared to $34.0 million at December 31, 2020[267] - A hypothetical 10% change in exchange rates would not result in a material increase or decrease in cost of revenue and operating expenses[266] - The company does not believe inflation has had a material effect on its business or financial condition[269] Market Strategy - The company plans to leverage its distribution, marketing, and content creation capabilities to expand its market share in the connected fitness segment[168] - Connected fitness revenue for the three months ended September 30, 2021, was $5,927, attributed to the acquisition of Myx in June 2021[191] - Average digital retention for the three months ended September 30, 2021, was 95.6%, compared to 95.1% for the same period in 2020[180]

The Beachbody Company, Inc. (BODY) Q2 2021 Results Conference Call August 12, 2021 5:00 PM ET Company Participants Edward Plank - VP, Investor Relations Carl Daikeler - Co-Founder, Chairman and Chief Executive Officer Sue Collyns - President & Chief Financial Officer Conference Call Participants Jonathan Komp - Baird John Heinbockel - Guggenheim Linda Bolton Weiser - D.A. Davidson Daniel Adam - Loop Capital Markets Operator Good morning. Good afternoon. Good evening. My name is Katherine, and I'll be your c ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION or ☐ TRANSITION REPORT PURSUANT TO Section 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Washington, D.C. 20549 Commission file number: 001-39735 FORM 10-Q The Beachbody Company, Inc. ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 (Exact name of registrant as specified in its charter) Delaware 85-3222090 (State or ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-39735 FOREST ROAD ACQUISITION CORP. (Exact name of registrant as specified in its charter) | Delaware | 85-3222090 | | --- | --- | | ( ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 ☐ 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 FOREST ROAD ACQUISITION CORP. (Exact name of registrant as specified in its charter) | Delaware | 85-3222090 | | --- | --- | | (S ...