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Fast-paced Momentum Stock The Beachbody Company (BODI) Is Still Trading at a Bargain
ZACKS· 2025-09-25 13:51
Core Viewpoint - Momentum investing focuses on "buying high and selling higher" rather than traditional strategies of "buying low and selling high" [1] Group 1: Momentum Investing Strategy - Momentum investors often face challenges in determining the right entry point for fast-moving stocks, which can lead to limited upside or downside risks [2] - A safer approach involves investing in bargain stocks that exhibit recent price momentum, utilizing tools like the Zacks Momentum Style Score to identify such opportunities [3] Group 2: The Beachbody Company, Inc. (BODI) - BODI has shown a price increase of 7.5% over the past four weeks, indicating growing investor interest [4] - Over the past 12 weeks, BODI's stock has gained 40.9%, demonstrating its ability to deliver positive returns over a longer timeframe [5] - BODI has a beta of 1.22, suggesting it moves 22% higher than the market in either direction, indicating fast-paced momentum [5] - The stock has a Momentum Score of B, suggesting it is an opportune time to invest [6] - BODI has a Zacks Rank 2 (Buy) due to upward trends in earnings estimate revisions, which attract more investor interest [7] - The stock is trading at a Price-to-Sales ratio of 0.13, indicating it is relatively cheap at 13 cents for each dollar of sales, providing room for growth [7] Group 3: Additional Investment Opportunities - Besides BODI, there are other stocks that meet the criteria of the 'Fast-Paced Momentum at a Bargain' screen, suggesting further investment opportunities [8] - Investors can explore over 45 Zacks Premium Screens tailored to different investing styles to identify potential winning stocks [9]
Is The Beachbody Company (BODI) Outperforming Other Consumer Discretionary Stocks This Year?
ZACKS· 2025-09-17 14:40
Group 1 - The Beachbody Company, Inc. (BODI) is a notable stock in the Consumer Discretionary sector, currently outperforming its peers with a year-to-date return of 18.5% compared to the sector average of 10.2% [4] - BODI has a Zacks Rank of 2 (Buy), indicating a positive outlook based on earnings estimates and revisions [3] - The Zacks Consensus Estimate for BODI's full-year earnings has increased by 49.1% in the past quarter, reflecting improving analyst sentiment [4] Group 2 - The Beachbody Company, Inc. is part of the Consumer Services - Miscellaneous industry, which has an average loss of 7.4% this year, highlighting BODI's strong performance within this group [6] - In contrast, Betterware de Mexico SAPI de C (BWMX), another stock in the Consumer Discretionary sector, has a year-to-date return of 20.9% and also holds a Zacks Rank of 2 (Buy) [5] - The Consumer Products - Discretionary industry, which includes BWMX, has seen a decline of 12.8% this year, further emphasizing the relative strength of BODI [7]
Does The Beachbody Company (BODI) Have the Potential to Rally 96.55% as Wall Street Analysts Expect?
ZACKS· 2025-09-01 14:56
Core Viewpoint - The Beachbody Company, Inc. (BODI) has shown a significant stock price increase of 40.9% over the past four weeks, with a mean price target of $10.83 indicating a potential upside of 96.6% from its current price of $5.51 [1] Price Targets and Analyst Consensus - The average price target for BODI ranges from a low of $4.00 to a high of $15.50, with a standard deviation of $6.05, indicating variability in analyst estimates [2] - The lowest estimate suggests a decline of 27.4%, while the highest points to an upside of 181.3% [2] - A low standard deviation indicates a strong agreement among analysts regarding the stock's price movement direction [9] Earnings Estimates and Analyst Optimism - Analysts have shown growing optimism regarding BODI's earnings prospects, as evidenced by a strong consensus in revising EPS estimates higher [11] - Over the last 30 days, the Zacks Consensus Estimate for the current year has increased by 49.1%, with no negative revisions [12] - BODI holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] Caution on Price Targets - Solely relying on price targets for investment decisions may not be prudent, as analysts' ability to set accurate targets has been questioned [3][10] - Analysts often set optimistic price targets due to business incentives, which can lead to inflated estimates [8]
INTRODUCING THE NEWEST ADDITION TO THE DONNA KARAN BODY LINE: THE CASHMERE MIST MINI ANTI-PERSPIRANT STICK
Prnewswire· 2025-08-25 13:00
Group 1 - Donna Karan New York has launched the Cashmere Mist Mini Anti-Perspirant Stick, a travel-ready version of its popular Cashmere Mist Body Collection, designed for women on the go [1] - The new product features a monomaterial canister made entirely from recyclable Polypropylene, emphasizing sustainability and modern luxury [2] - Cashmere Mist fragrance is characterized by a blend of Moroccan Jasmine, Lily of the Valley, and Bergamot, with warm notes of Sandalwood, Amber, and Musk, representing comfort and timeless femininity [3] Group 2 - The Cashmere Mist Mini Anti-Perspirant Deodorant will be available in August 2025 at Nordstrom Rack and Amazon, and at Ulta Beauty at Target in September 2025, priced at $22 for 1 oz (30 g) [4] - Interparfums, Inc. has been operating in the global fragrance business since 1982, producing and distributing a variety of prestige fragrance products under license agreements [4] - Interparfums, Inc. manages its business through two segments: European operations via a 72% owned subsidiary, Interparfums SA, and U.S. operations through wholly owned subsidiaries [4] Group 3 - G-III Apparel Group, Ltd. is a global leader in fashion, owning and licensing over 30 brands, including Donna Karan and DKNY, and differentiating itself across various product categories [6] - G-III Apparel Group's portfolio includes ten iconic brands and licenses over 20 additional brands, showcasing its extensive reach in the fashion industry [6]
Wall Street Analysts Predict an 114.88% Upside in The Beachbody Company (BODI): Here's What You Should Know
ZACKS· 2025-08-14 14:56
Group 1 - The Beachbody Company, Inc. (BODI) shares have increased by 27.3% in the past four weeks, closing at $5.04, with a mean price target of $10.83 indicating a potential upside of 114.9% [1] - The average price targets range from a low of $4.00 to a high of $15.50, with a standard deviation of $6.05, suggesting variability in analyst estimates [2] - Analysts show a consensus that BODI will report better earnings than previously estimated, which historically correlates with stock price increases [4][11] Group 2 - The Zacks Consensus Estimate for BODI's current year earnings has risen by 49.1% over the past month, indicating positive sentiment among analysts [12] - BODI holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, suggesting strong potential for upside [13] - While consensus price targets may not be entirely reliable, the implied direction of price movement appears to be a useful guide for investors [14]
Despite Fast-paced Momentum, The Beachbody Company (BODI) Is Still a Bargain Stock
ZACKS· 2025-08-11 13:51
Core Viewpoint - Momentum investing focuses on "buying high and selling higher" rather than traditional strategies of "buying low and selling high" [1] Group 1: Momentum Investing Strategy - Momentum investors often face challenges in determining the right entry point for fast-moving stocks, which can lead to limited upside or downside risks [2] - A safer approach involves investing in bargain stocks that exhibit recent price momentum, utilizing tools like the Zacks Momentum Style Score to identify potential candidates [3] Group 2: The Beachbody Company, Inc. (BODI) - BODI has shown a price increase of 15% over the past four weeks, indicating growing investor interest [4] - The stock has gained 17.9% over the past 12 weeks, demonstrating its ability to deliver positive returns over a longer timeframe [5] - BODI has a beta of 1.2, suggesting it moves 20% higher than the market in either direction, indicating fast-paced momentum [5] - The stock has a Momentum Score of A, suggesting it is an opportune time to invest [6] - BODI has a Zacks Rank 2 (Buy) due to upward trends in earnings estimate revisions, which attract more investors [7] - The stock is trading at a Price-to-Sales ratio of 0.10, indicating it is relatively cheap at present [7] Group 3: Investment Opportunities - BODI appears to have significant potential for growth, and there are other stocks that meet the criteria of fast-paced momentum at a bargain [8] - Various Zacks Premium Screens are available to help identify winning stock picks based on different investing styles [9]
The Beachbody Company (BODI) Upgraded to Buy: Here's What You Should Know
ZACKS· 2025-08-08 17:01
Core Viewpoint - The Beachbody Company, Inc. (BODI) has received a Zacks Rank 2 (Buy) upgrade, indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Ratings - The Zacks rating system is based on the consensus measure of EPS estimates from sell-side analysts, reflecting the company's changing earnings picture [2]. - The Zacks rating upgrade for The Beachbody Company signifies an improved earnings outlook, likely to positively affect its stock price [4][6]. Impact of Earnings Estimates on Stock Prices - Changes in a company's future earnings potential, as shown by earnings estimate revisions, are strongly correlated with near-term stock price movements [5]. - Institutional investors utilize earnings estimates to determine the fair value of stocks, leading to significant price movements based on their buying or selling activities [5]. Earnings Estimate Revisions for The Beachbody Company - For the fiscal year ending December 2025, The Beachbody Company is expected to earn -$2.52 per share, unchanged from the previous year [9]. - Over the past three months, the Zacks Consensus Estimate for The Beachbody Company has increased by 51.3%, indicating a positive trend in earnings estimates [9]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks which have averaged a +25% annual return since 1988 [8]. - The Beachbody Company's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10][11].
The Beachbody pany(BODY) - 2025 Q2 - Quarterly Report
2025-08-06 21:33
[PART I—FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%E2%80%94FINANCIAL%20INFORMATION) This section presents the Company's unaudited condensed consolidated financial statements, management's discussion, market risk, and internal controls [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents The Beachbody Company, Inc.'s unaudited condensed consolidated financial statements, including balance sheets, statements of operations, comprehensive loss, stockholders' equity, and cash flows, along with detailed notes explaining significant accounting policies, revenue recognition, fair value measurements, inventory, property and equipment, debt, equity, and other financial disclosures for the periods ended June 30, 2025 and 2024 [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheets provide a snapshot of the Company's financial position, detailing assets, liabilities, and equity as of June 30, 2025, and December 31, 2024 Condensed Consolidated Balance Sheets (in thousands) | Metric | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :---------------- | | Total Assets | $145,894 | $174,556 | | Total Liabilities | $125,736 | $146,386 | | Total Stockholders' Equity | $20,158 | $28,170 | - Total assets decreased by **$28.66 million (16.4%)** from December 31, 2024, to June 30, 2025, primarily driven by decreases in current assets such as other current assets, inventory, and prepaid expenses[10](index=10&type=chunk) - Total liabilities decreased by **$20.65 million (14.1%)** over the same period, mainly due to reductions in deferred revenue, accounts payable, and the current portion of the Term Loan[10](index=10&type=chunk) - Stockholders' equity decreased by **$8.01 million (28.4%)** from December 31, 2024, to June 30, 2025, largely due to accumulated deficit[10](index=10&type=chunk) [Unaudited Condensed Consolidated Statements of Operations](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) This statement outlines the Company's financial performance, including revenue, gross profit, operating loss, and net loss for the three and six months ended June 30, 2025 and 2024 Unaudited Condensed Consolidated Statements of Operations (in thousands, except per share data) | Metric | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Total Revenue | $63,941 | $110,183 | $136,304 | $230,229 | | Gross Profit | $46,238 | $76,376 | $97,787 | $157,658 | | Operating Loss | $(3,964) | $(9,482) | $(7,638) | $(20,305) | | Net Loss | $(5,900) | $(10,865) | $(11,648) | $(25,081) | | Net Loss per Common Share, Basic and Diluted | $(0.85) | $(1.59) | $(1.68) | $(3.70) | - Total revenue decreased by **42%** for the three months ended June 30, 2025, and by **41%** for the six months ended June 30, 2025, compared to the prior year periods, primarily due to lower digital subscriptions and nutritional product sales[12](index=12&type=chunk) - Net loss improved for both the three-month period (from **$(10.865) million to $(5.900) million**) and the six-month period (from **$(25.081) million to $(11.648) million**) year-over-year, driven by reduced operating expenses[12](index=12&type=chunk) [Unaudited Condensed Consolidated Statements of Comprehensive Loss](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) This statement details the Company's net loss and other comprehensive income or loss, reflecting total comprehensive loss for the periods ended June 30, 2025 and 2024 Unaudited Condensed Consolidated Statements of Comprehensive Loss (in thousands) | Metric | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net Loss | $(5,900) | $(10,865) | $(11,648) | $(25,081) | | Total Other Comprehensive Income (Loss) | $(6) | $(4) | $(15) | $34 | | Total Comprehensive Loss | $(5,906) | $(10,869) | $(11,663) | $(25,047) | - Total comprehensive loss for the three months ended June 30, 2025, was **$(5.906) million**, an improvement from **$(10.869) million** in the prior year, primarily reflecting the reduced net loss[15](index=15&type=chunk) - For the six months ended June 30, 2025, total comprehensive loss was **$(11.663) million**, significantly lower than **$(25.047) million** in the same period last year[15](index=15&type=chunk) [Unaudited Condensed Consolidated Statements of Stockholders' Equity](index=7&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) This statement tracks changes in the Company's stockholders' equity, including common stock, additional paid-in capital, accumulated deficit, and other comprehensive loss, for the six months ended June 30, 2025 Unaudited Condensed Consolidated Statements of Stockholders' Equity (in thousands) | Metric | Balances at Dec 31, 2024 | Balances at June 30, 2025 | | :-------------------------------- | :----------------------- | :---------------------- | | Common Stock Amount | $2 | $2 | | Additional Paid-In Capital | $671,735 | $675,386 | | Accumulated Deficit | $(643,518) | $(655,166) | | Accumulated Other Comprehensive Loss | $(49) | $(64) | | Total Stockholders' Equity | $28,170 | $20,158 | - Total stockholders' equity decreased from **$28.170 million** at December 31, 2024, to **$20.158 million** at June 30, 2025, primarily due to the net loss incurred during the period, partially offset by equity-based compensation and ESPP share issuances[18](index=18&type=chunk) - Accumulated deficit increased by **$11.648 million** during the six months ended June 30, 2025, reflecting the net loss for the period[18](index=18&type=chunk) [Unaudited Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This statement summarizes the Company's cash inflows and outflows from operating, investing, and financing activities for the six months ended June 30, 2025 and 2024 Unaudited Condensed Consolidated Statements of Cash Flows (in thousands) | Cash Flow Activity | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------------------------- | :----------------------------- | :----------------------------- | | Net cash provided by operating activities | $6,580 | $8,209 | | Net cash (used in) provided by investing activities | $(2,511) | $2,655 | | Net cash provided by (used in) financing activities | $785 | $(11,504) | | Net increase (decrease) in cash, cash equivalents, and restricted cash | $5,374 | $(1,082) | | Cash, cash equivalents and restricted cash, end of period | $25,561 | $32,327 | - Net cash provided by operating activities decreased to **$6.580 million** for the six months ended June 30, 2025, from **$8.209 million** in the prior year, mainly due to changes in deferred revenue and accounts payable, partially offset by a lower net loss[21](index=21&type=chunk)[198](index=198&type=chunk) - Investing activities shifted from a net cash inflow of **$2.655 million** in 2024 to a net cash outflow of **$(2.511) million** in 2025, primarily due to the absence of proceeds from the sale of the Van Nuys facility[21](index=21&type=chunk)[199](index=199&type=chunk) - Financing activities significantly improved from a net cash outflow of **$(11.504) million** in 2024 to a net cash inflow of **$0.785 million** in 2025, driven by new debt borrowings from the ABL Facility and repayment of the Term Loan[21](index=21&type=chunk)[200](index=200&type=chunk) [Notes to Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) These notes provide detailed explanations and disclosures supporting the unaudited condensed consolidated financial statements, covering accounting policies, revenue, fair value, inventory, debt, equity, and other financial information [Note 1. Description of Business and Summary of Significant Accounting Policies](index=9&type=section&id=Note%201.%20Description%20of%20Business%20and%20Summary%20of%20Significant%20Accounting%20Policies) This note describes the Company's business, its strategic 'Pivot' to an affiliate model, and summarizes significant accounting policies and recent accounting pronouncements - The Beachbody Company, Inc. (BODi) is a fitness and nutrition company offering streaming fitness programs and nutritional products, which announced a strategic 'Pivot' on September 30, 2024, to transition its network business from a Multi-Level Marketing (MLM) model to a single-level affiliate model[24](index=24&type=chunk) - The Company adopted ASU 2023-07 (Improvements to Reportable Segment Disclosures) retrospectively on January 1, 2024, with no material effect on financial statements[28](index=28&type=chunk) - The Company is evaluating the potential impact of ASU 2023-09 (Improvements to Income Tax Disclosures) and ASU 2024-03 (Disaggregation of Income Statement Expenses), effective for annual periods beginning after December 15, 2024, and December 15, 2026, respectively[29](index=29&type=chunk)[30](index=30&type=chunk) [Note 2. Revenue](index=11&type=section&id=Note%202.%20Revenue) This note disaggregates revenue by geographic region and details the recognition of deferred revenue performance obligations Revenue Disaggregated by Geographic Region (in thousands) | Geographic Region | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :---------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | United States | $58,997 | $99,423 | $125,849 | $206,173 | | Rest of world | $4,944 | $10,760 | $10,455 | $24,056 | | Total Revenue | $63,941 | $110,183 | $136,304 | $230,229 | - Approximately **95%** of remaining deferred revenue performance obligations are expected to be recognized in the next 12 months[33](index=33&type=chunk) - The Company recognized **$21.5 million** and **$57.8 million** of revenue from deferred revenue balances for the three and six months ended June 30, 2025, respectively[33](index=33&type=chunk) [Note 3. Fair Value Measurements](index=11&type=section&id=Note%203.%20Fair%20Value%20Measurements) This note provides fair value measurements for financial instruments, particularly warrants, categorized by valuation input levels Fair Value Measurements (in thousands) | Item | June 30, 2025 (Level 3) | December 31, 2024 (Level 3) | | :-------------------- | :---------------------- | :------------------------ | | Term Loan Warrants | $239 | $390 | | Common Stock Warrants | $1,065 | $1,783 | | Total Liabilities | $1,304 | $2,173 | - Private Placement Warrants and Public Warrants were valued at **zero** at June 30, 2025, and December 31, 2024, due to their high exercise price (**$575.00**) compared to the Company's stock price (**$4.12** at June 30, 2025)[37](index=37&type=chunk)[40](index=40&type=chunk) - The fair value of Term Loan Warrants decreased by **$151 thousand** for the six months ended June 30, 2025, primarily due to changes in the Company's Class A Common Stock price, contractual term, and risk-free rate[44](index=44&type=chunk) - The fair value of Common Stock Warrants decreased by **$718 thousand** for the six months ended June 30, 2025, influenced by similar factors[46](index=46&type=chunk) [Note 4. Inventory](index=16&type=section&id=Note%204.%20Inventory) This note details the composition of inventory, net, including raw materials, work in process, and finished goods, and adjustments for excess or obsolete inventory Inventory, Net (in thousands) | Category | June 30, 2025 | December 31, 2024 | | :------------------------ | :------------ | :---------------- | | Raw materials and work in process | $5,767 | $7,650 | | Finished goods | $5,639 | $8,653 | | Total inventory | $11,406 | $16,303 | - Total inventory decreased by **$4.897 million (30%)** from December 31, 2024, to June 30, 2025[47](index=47&type=chunk) - Adjustments for excess inventory and net realizable value were **$0.6 million** for the six months ended June 30, 2025, compared to **$1.0 million** in the prior year[47](index=47&type=chunk) [Note 5. Other Current Assets](index=17&type=section&id=Note%205.%20Other%20Current%20Assets) This note itemizes other current assets, primarily focusing on deferred Partner costs, accounts receivable, and deferred Affiliate costs Other Current Assets (in thousands) | Category | June 30, 2025 | December 31, 2024 | | :-------------------- | :------------ | :---------------- | | Deferred Partner costs | $7,736 | $25,578 | | Accounts receivable, net | $1,851 | $1,449 | | Deferred Affiliate costs | $512 | $152 | | Other | $1,292 | $1,732 | | Total other current assets | $11,391 | $28,911 | - Total other current assets decreased by **$17.52 million (60.6%)** from December 31, 2024, to June 30, 2025, primarily due to a significant reduction in deferred Partner costs[48](index=48&type=chunk) [Note 6. Property and Equipment, Net](index=17&type=section&id=Note%206.%20Property%20and%20Equipment,%20Net) This note presents the Company's property and equipment, net of accumulated depreciation, and details depreciation expense and asset disposals Property and Equipment, Net (in thousands) | Category | June 30, 2025 | December 31, 2024 | | :---------------------------------------- | :------------ | :---------------- | | Property and equipment, gross | $138,296 | $141,897 | | Less: Accumulated depreciation | $(127,690) | $(129,148) | | Total property and equipment, net | $10,606 | $12,749 | - Net property and equipment decreased by **$2.143 million (16.8%)** from December 31, 2024, to June 30, 2025[49](index=49&type=chunk) - Depreciation expense for the six months ended June 30, 2025, was **$4.910 million**, down from **$10.789 million** in the prior year[50](index=50&type=chunk) - The Company recognized a **$0.8 million** gain on the sale of its Van Nuys production facility on February 29, 2024[49](index=49&type=chunk) [Note 7. Accrued Expenses and Other Current Liabilities](index=18&type=section&id=Note%207.%20Accrued%20Expenses%20and%20Other%20Current%20Liabilities) This note itemizes accrued expenses, including employee compensation, taxes, professional services, advertising, and inventory-related costs Accrued Expenses (in thousands) | Category | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :---------------- | | Employee compensation and benefits | $5,868 | $5,180 | | Sales and other taxes | $2,759 | $3,125 | | Outside professional services | $2,496 | $1,997 | | Advertising | $2,010 | $2,208 | | Information technology | $1,720 | $2,211 | | Inventory, shipping and fulfillment | $1,158 | $2,925 | | Partner costs | $459 | $3,272 | | Other accrued expenses | $4,132 | $4,064 | | Total accrued expenses | $20,602 | $24,982 | - Total accrued expenses decreased by **$4.38 million (17.5%)** from December 31, 2024, to June 30, 2025, primarily due to reductions in Partner costs and inventory, shipping, and fulfillment expenses[51](index=51&type=chunk) - Advertising costs for the six months ended June 30, 2025, were **$22.1 million**, an increase from **$17.3 million** in the prior year[52](index=52&type=chunk) - The Company financed **$2.2 million** in annual insurance premiums with AFCO and **$2.2 million** with FIF, with outstanding balances of **$0.4 million** and **$0.2 million**, respectively, as of June 30, 2025[53](index=53&type=chunk)[54](index=54&type=chunk) [Note 8. Commitments and Contingencies](index=18&type=section&id=Note%208.%20Commitments%20and%20Contingencies) This note outlines the Company's future minimum payments under noncancelable agreements, royalty payments, lease obligations, and ongoing legal proceedings Future Minimum Payments under Noncancelable Service and Inventory Purchase Agreements (in thousands) | Period | Amount | | :-------------------------------- | :----- | | Six months ending December 31, 2025 | $10,852 | | Year ending December 31, 2026 | $2,299 | | Year ending December 31, 2027 | $730 | | Year ending December 31, 2028 | $75 | | Total | $13,956 | - The Company paid **$1.4 million** in royalty payments (exclusive of guaranteed payments) during the six months ended June 30, 2025[57](index=57&type=chunk) - Lease obligations require payments of approximately **$0.7 million** for the six months ending December 31, 2025, and **$1.5 million** for the year ending December 31, 2026[58](index=58&type=chunk) - The Company is involved in several legal proceedings, including a class action alleging misclassification of Partners as contractors and a class action related to the 2021 merger, as well as arbitration demands under the Video Privacy Protection Act[60](index=60&type=chunk)[61](index=61&type=chunk)[64](index=64&type=chunk) [Note 9. Debt](index=22&type=section&id=Note%209.%20Debt) This note details the Company's debt arrangements, including the new ABL Facility, the repayment of the Term Loan, and associated financial covenants - On May 13, 2025, the Company entered into a new **$35.0 million** Asset-Based Lending (ABL) Facility, borrowing **$25.0 million**, which matures on May 13, 2028, with interest based on the one-month SOFR Rate plus **9.00%** (subject to reduction) and a **3.5%** SOFR floor[66](index=66&type=chunk) - Proceeds from the ABL Facility were used to repay the existing Term Loan in full on May 13, 2025, resulting in a **$2.2 million** loss on debt extinguishment for the three and six months ended June 30, 2025[72](index=72&type=chunk) ABL Facility Payment Schedule (in thousands) | Period | Amount Due | | :-------------------------------- | :--------- | | Six months ending December 31, 2025 | $0 | | Year ending December 31, 2026 | $1,062 | | Year ending December 31, 2027 | $2,125 | | Year ending December 31, 2028 | $21,813 | | Total Debt | $25,000 | - The ABL Facility includes financial covenants such as capital expenditures less than **$10 million** annually, liquidity greater than **$12 million**, and targets for Three Month Total Billings and Quarterly Digital Subscriptions[68](index=68&type=chunk)[70](index=70&type=chunk) [Note 10. Segment](index=26&type=section&id=Note%2010.%20Segment) This note clarifies that the Company operates as a single reporting segment, with performance assessed based on net loss - The Company operates as a **single reporting segment**, with the Chief Operating Decision Maker (CODM) assessing performance based on net loss and using it for annual budgeting and forecasting[84](index=84&type=chunk)[85](index=85&type=chunk) - Depreciation expense was **$4.9 million** and content amortization expense was **$5.0 million** for the six months ended June 30, 2025[86](index=86&type=chunk) [Note 11. Stockholders' Equity](index=26&type=section&id=Note%2011.%20Stockholders'%20Equity) This note provides details on authorized and outstanding shares, equity transactions, and changes in accumulated other comprehensive income (loss) - As of June 30, 2025, the Company had **2,000,000,000** authorized shares, including Class A, Class X, Class C common stock, and preferred stock, with no dividends declared[88](index=88&type=chunk)[89](index=89&type=chunk) - In December 2023, the Company issued **420,769** shares of Class A common stock and **543,590** Common Stock Warrants in a registered direct offering and concurrent private placement[90](index=90&type=chunk) Changes in Accumulated Other Comprehensive Income (Loss) (in thousands) | Period | Balances at Dec 31, 2024 | Other comprehensive loss before reclassifications | Balances at June 30, 2025 | | :-------------------------------- | :----------------------- | :------------------------------------------------ | :---------------------- | | Six months ended June 30, 2025 | $(49) | $(15) | $(64) | [Note 12. Equity-Based Compensation](index=27&type=section&id=Note%2012.%20Equity-Based%20Compensation) This note describes the Company's equity compensation plans, including outstanding options and RSUs, and the associated compensation expense Equity Compensation Plan Activity | Metric | Outstanding at Dec 31, 2024 | Outstanding at June 30, 2025 | | :-------------------------------- | :-------------------------- | :--------------------------- | | Time-Vesting Options | 1,008,017 | 860,500 | | RSUs | 326,226 | 554,766 | - The number of shares available for issuance under the 2021 Incentive Award Plan increased by **347,391** on January 1, 2025, totaling **1,071,664** shares available as of June 30, 2025[96](index=96&type=chunk) - Equity-based compensation expense for the six months ended June 30, 2025, was **$3.741 million**, a decrease from **$9.104 million** in the prior year[101](index=101&type=chunk) [Note 13. Restructuring](index=30&type=section&id=Note%2013.%20Restructuring) This note details the Company's restructuring activities, including headcount reductions and associated employee-related costs and liabilities - On June 26, 2025, the Company initiated a post-Pivot restructuring, reducing headcount by approximately **70 employees (22% of the workforce)**, with expected costs of **$2.6 million**, of which **$2.5 million** was recorded in the three and six months ended June 30, 2025[102](index=102&type=chunk) - Restructuring charges for the six months ended June 30, 2024, were **$1.6 million**, primarily for termination benefits[104](index=104&type=chunk) Restructuring-Related Liability Activity (in thousands) | Metric | Balance at Dec 31, 2024 | Restructuring Charges | Payments / Utilizations | Liability at June 30, 2025 | | :-------------------- | :---------------------- | :-------------------- | :---------------------- | :------------------------- | | Employee-related costs | $938 | $2,492 | $(831) | $2,599 | [Note 14. Income Taxes](index=32&type=section&id=Note%2014.%20Income%20Taxes) This note presents the Company's income tax provision and explains the factors influencing the effective tax rate - The income tax provision for the three and six months ended June 30, 2025, was **$0.1 million**, with effective tax rates of **(1.7)%** and **(1.3)%** respectively[107](index=107&type=chunk) - The effective tax rate differs from the U.S. statutory rate primarily due to changes in valuation allowances on deferred tax assets[108](index=108&type=chunk) [Note 15. Loss per Share](index=32&type=section&id=Note%2015.%20Loss%20per%20Share) This note provides the calculation of basic and diluted net loss per common share, including the weighted-average shares outstanding Net Loss per Common Share (in thousands, except per share information) | Metric | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net loss | $(5,900) | $(10,865) | $(11,648) | $(25,081) | | Weighted-average common shares outstanding | 6,950,761 | 6,812,750 | 6,917,062 | 6,786,761 | | Net loss per common share, basic and diluted | $(0.85) | $(1.59) | $(1.68) | $(3.70) | - Basic and diluted net loss per common share are the same for all periods presented because the inclusion of potential common shares would have been antidilutive[111](index=111&type=chunk) - As of June 30, 2025, **2,517,617** common shares were excluded from diluted EPS computation due to their antidilutive effect, including time-vesting options, RSUs, and various warrants[111](index=111&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Operations](index=34&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Operations) This section provides management's perspective on the Company's financial condition and results of operations, highlighting the impact of the strategic 'Pivot' from an MLM to an affiliate model, significant declines in revenue, improvements in net loss and Adjusted EBITDA due to cost reductions, and discussions on liquidity, debt refinancing, and ongoing restructuring efforts [Overview](index=36&type=section&id=Overview) This section provides an overview of BODi's business, its strategic 'Pivot' to a single-level affiliate model, and key financial highlights for the periods presented - BODi is a leading fitness and nutrition company focused on digital content, supplements, and consumer health, offering streaming services and nutritional products[118](index=118&type=chunk)[119](index=119&type=chunk) - On September 30, 2024, the Company initiated a 'Pivot' to transition from a multi-level marketing (MLM) model to a single-level affiliate model, reducing headcount by approximately **170 employees (33% of the workforce)**[121](index=121&type=chunk) Key Financial Highlights (in millions) | Metric | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Total Revenue | $63.9 (↓42%) | $110.2 | $136.3 (↓41%) | $230.2 | | Net Loss | $(5.9) (↓46%) | $(10.9) | $(11.6) (↓54%) | $(25.1) | | Adjusted EBITDA | $4.6 (↓6%) | $4.9 | $8.3 (↓12%) | $9.5 | [Recent Developments](index=37&type=section&id=Recent%20Developments) This section highlights recent significant events, including the new ABL Facility, repayment of the Term Loan, and post-Pivot restructuring efforts - On May 13, 2025, the Company secured a new **$35.0 million** Asset-Based Lending (ABL) Facility, borrowing **$25.0 million**, which matures on May 13, 2028[124](index=124&type=chunk) - Proceeds from the ABL Facility were used to fully repay the existing Term Loan (**$17.3 million** principal) on May 13, 2025, resulting in a **$2.2 million** loss on debt extinguishment[125](index=125&type=chunk) - A post-Pivot restructuring on June 26, 2025, will reduce headcount by approximately **70 employees (22% of the workforce)**, incurring **$2.5 million** in costs during the three and six months ended June 30, 2025[127](index=127&type=chunk) [Key Operational and Business Metrics](index=37&type=section&id=Key%20Operational%20and%20Business%20Metrics) This section presents key operational metrics such as digital and nutritional subscriptions, average digital retention, total streams, DAU/MAU, gross margin, and Adjusted EBITDA Key Operational and Business Metrics | Metric | As of June 30, 2025 | As of June 30, 2024 | | :-------------------------- | :------------------ | :------------------ | | Digital subscriptions (millions) | 0.94 (↓18.3%) | 1.15 | | Nutritional subscriptions (millions) | 0.07 (↓50.0%) | 0.14 | | Average digital retention | 96.7% (↑0.2%) | 96.5% | | Total streams (millions) | 18.0 (↓20.8%) | 22.7 | | DAU/MAU | 31.4% (↓1.6%) | 31.9% | | Gross margin | 72.3% (↑3.0%) | 69.3% | | Adjusted EBITDA (millions) | $4.6 (↓6.1%) | $4.9 | - Digital subscriptions decreased by **18.3%** to **0.94 million**, and nutritional subscriptions decreased by **50%** to **0.07 million** as of June 30, 2025, compared to the prior year[130](index=130&type=chunk) - Total streams declined by **20.8%** to **18.0 million** for the three months ended June 30, 2025, indicating reduced customer engagement[131](index=131&type=chunk) [Non-GAAP Information](index=38&type=section&id=Non-GAAP%20Information) This section defines and reconciles Adjusted EBITDA, a non-GAAP measure used by management to evaluate core operating performance - Adjusted EBITDA is a non-GAAP measure used by management to evaluate core operating performance, excluding non-cash expenses (depreciation, amortization, equity-based compensation) and non-recurring items (restructuring costs, interest income/expense)[138](index=138&type=chunk)[139](index=139&type=chunk) Adjusted EBITDA Reconciliation (in thousands) | Metric | Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net loss | $(5,900) | $(10,865) | $(11,648) | $(25,081) | | Adjustments (total) | $10,532 | $15,793 | $19,993 | $34,563 | | Adjusted EBITDA | $4,632 | $4,928 | $8,345 | $9,482 | [Results of Operations](index=39&type=section&id=Results%20of%20Operations) This section provides a detailed analysis of the Company's revenue, cost of revenue, operating expenses, and other income/expense for the periods presented [Revenue](index=41&type=section&id=Revenue) This section analyzes revenue performance by segment, detailing declines in digital, nutrition, and connected fitness revenues due to reduced subscriptions and strategic changes Revenue by Segment (in thousands) | Segment | Three months ended June 30, 2025 | % Change | Six months ended June 30, 2025 | % Change | | :---------------- | :------------------------------- | :------- | :----------------------------- | :------- | | Digital | $39,693 | (32%) | $82,604 | (31%) | | Nutrition and other | $24,172 | (52%) | $52,825 | (50%) | | Connected fitness | $76 | (94%) | $875 | (80%) | | Total revenue | $63,941 | (42%) | $136,304 | (41%) | - Digital revenue decreased by **$19.078 million (32%)** for the three months and **$37.673 million (31%)** for the six months ended June 30, 2025, primarily due to **18%** fewer subscriptions and the impact of the Pivot on Partner fees[145](index=145&type=chunk)[148](index=148&type=chunk) - Nutrition and other revenue declined by **$25.929 million (52%)** for the three months and **$52.788 million (50%)** for the six months, mainly due to **49-50%** fewer nutritional subscriptions and the elimination of preferred customer fees post-Pivot[146](index=146&type=chunk)[149](index=149&type=chunk) - Connected fitness revenue dropped significantly by **94%** and **80%** for the three and six months, respectively, due to management's decision to cease bike inventory sales in Q1 2025[147](index=147&type=chunk)[150](index=150&type=chunk) [Cost of Revenue](index=43&type=section&id=Cost%20of%20Revenue) This section details the cost of revenue by segment and explains changes in gross margins, driven by lower content amortization, reduced personnel expenses, and product costs Cost of Revenue and Gross Profit by Segment (in thousands) | Segment | Three months ended June 30, 2025 | % Change (Cost) | Gross Margin 2025 | Gross Margin 2024 | | :---------------- | :------------------------------- | :-------------- | :---------------- | :---------------- | | Digital Cost | $4,893 | (57%) | 87.7% | 80.5% | | Nutrition Cost | $11,740 | (40%) | 51.4% | 60.8% | | Connected Fitness Cost | $1,070 | (61%) | NM | (106.7%) | | Total Cost | $17,703 | (48%) | 72.3% | 69.3% | - Digital cost of revenue decreased by **57%** for the three months and **54%** for the six months, driven by lower content amortization, reduced personnel expenses, and decreased depreciation[156](index=156&type=chunk)[160](index=160&type=chunk) - Nutrition and other cost of revenue decreased by **40%** for both periods, primarily due to lower product costs and reduced fulfillment/shipping expenses from decreased sales volume[157](index=157&type=chunk)[161](index=161&type=chunk) - Connected fitness cost of revenue decreased by **61%** and **65%** for the three and six months, respectively, due to the cessation of bike inventory sales[159](index=159&type=chunk)[162](index=162&type=chunk) - Digital gross margin increased to **87.7%** (from **80.5%**) for the three months and **86.6%** (from **79.8%**) for the six months, while Nutrition and other gross margin decreased to **51.4%** (from **60.8%**) and **52.3%** (from **60.3%**) respectively, due to the elimination of preferred customer fees and higher promotional offerings[155](index=155&type=chunk)[158](index=158&type=chunk)[160](index=160&type=chunk)[161](index=161&type=chunk) [Operating Expenses](index=45&type=section&id=Operating%20Expenses) This section analyzes changes in selling and marketing, enterprise technology and development, general and administrative, and restructuring expenses Operating Expenses (in thousands) | Expense Category | Three months ended June 30, 2025 | % Change | Six months ended June 30, 2025 | % Change | | :-------------------------------- | :------------------------------- | :------- | :----------------------------- | :------- | | Selling and marketing | $25,528 | (55%) | $56,498 | (51%) | | Enterprise technology and development | $10,611 | (38%) | $23,207 | (33%) | | General and administrative | $11,571 | (7%) | $23,228 | (10%) | | Restructuring | $2,492 | NM | $2,492 | 52% | | Total operating expenses | $50,202 | (42%) | $105,425 | (41%) | - Selling and marketing expenses decreased by **55%** for the three months and **51%** for the six months, primarily due to a significant reduction in Partner compensation post-Pivot and lower personnel/event expenses, despite increased media spend[164](index=164&type=chunk)[166](index=166&type=chunk) - Enterprise technology and development expenses decreased by **38%** and **33%** for the three and six months, respectively, mainly due to reduced personnel-related expenses and depreciation from fully depreciated assets post-Pivot[170](index=170&type=chunk)[172](index=172&type=chunk) - General and administrative expenses decreased by **7%** and **10%** for the three and six months, respectively, driven by lower headcount and a gain on the sale of the Van Nuys facility in the prior year, partially offset by increased professional fees[176](index=176&type=chunk)[178](index=178&type=chunk) - Restructuring charges were **$2.492 million** for both the three and six months ended June 30, 2025, related to post-Pivot headcount reductions[181](index=181&type=chunk) [Other Income (Expense)](index=48&type=section&id=Other%20Income%20(Expense)) This section details non-operating items such as loss on debt extinguishment, changes in fair value of warrant liabilities, and interest expense Other Income (Expense) (in thousands) | Category | Three months ended June 30, 2025 | % Change | Six months ended June 30, 2025 | % Change | | :-------------------------------- | :------------------------------- | :------- | :----------------------------- | :------- | | Loss on debt extinguishment | $(2,166) | NM | $(2,166) | 12% | | Change in fair value of warrant liabilities | $1,558 | NM | $869 | NM | | Interest expense | $(1,268) | (23%) | $(2,833) | (20%) | | Other income, net | $41 | (90%) | $266 | (70%) | - The loss on debt extinguishment for the three and six months ended June 30, 2025, was **$2.166 million**, due to the full repayment of the Term Loan[184](index=184&type=chunk)[185](index=185&type=chunk) - The change in fair value of warrant liabilities resulted in a gain of **$1.558 million** for the three months and **$0.869 million** for the six months ended June 30, 2025, primarily due to a decline in the Company's stock price[184](index=184&type=chunk)[185](index=185&type=chunk) - Interest expense decreased by **23%** and **20%** for the three and six months, respectively, due to a lower average principal debt balance and a reduced effective interest rate on the new ABL Facility compared to the Term Loan[184](index=184&type=chunk)[185](index=185&type=chunk) [Income Tax Provision](index=50&type=section&id=Income%20Tax%20Provision) This section explains the Company's income tax provision and the factors influencing its effective tax rate Income Tax Provision (in thousands) | Period | Three months ended June 30, 2025 | % Change | Six months ended June 30, 2025 | % Change | | :-------------------- | :------------------------------- | :------- | :----------------------------- | :------- | | Income tax provision | $(101) | 51% | $(146) | 13% | - The income tax provision increased for both periods, primarily due to changes in valuation allowances and an increase in net expense from discrete events[187](index=187&type=chunk)[188](index=188&type=chunk) [Liquidity and Capital Resources](index=51&type=section&id=Liquidity%20and%20Capital%20Resources) This section discusses the Company's cash position, the impact of the new ABL Facility, compliance with financial covenants, and management's outlook on future liquidity - As of June 30, 2025, the Company had **$25.6 million** in cash and cash equivalents[197](index=197&type=chunk) - The new ABL Facility provided approximately **$5 million** in additional capital after repaying the Term Loan[191](index=191&type=chunk) - The Company was in compliance with all financial covenants under the ABL Facility as of June 30, 2025, but notes that unexpected weakness in demand could impact compliance with minimum billings and digital subscriptions covenants[194](index=194&type=chunk) - Management believes existing cash, cash equivalents, and cost control initiatives will provide sufficient liquidity for the next twelve months and longer-term, but may explore additional debt or equity financing[203](index=203&type=chunk)[204](index=204&type=chunk) [Critical Accounting Policies and Estimates](index=54&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) This section confirms no material changes to critical accounting estimates since the prior annual report - There have been no material changes to the Company's critical accounting estimates since the 2024 Annual Report on Form 10-K[206](index=206&type=chunk) [Recent Accounting Pronouncements](index=54&type=section&id=Recent%20Accounting%20Pronouncements) This section refers to Note 1 for details on recently adopted and not yet adopted accounting pronouncements - Refer to Note 1 for details on recently adopted and not yet adopted accounting pronouncements[207](index=207&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=54&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section discusses the Company's exposure to foreign currency exchange risk, noting that approximately 8% of revenue for the six months ended June 30, 2025, was in foreign currencies, and its strategy to reduce this exposure - Approximately **8%** of the Company's revenue for the six months ended June 30, 2025, was denominated in foreign currencies, primarily Canadian dollars and British pounds[208](index=208&type=chunk) - Management decided to cease entering into foreign exchange options, and all outstanding options expired prior to March 31, 2024, resulting in **zero** notional amount of foreign exchange derivative instruments at June 30, 2025[210](index=210&type=chunk)[213](index=213&type=chunk) - As part of the Pivot, the Company is exiting the sale of nutritional and other physical products in the United Kingdom and France[210](index=210&type=chunk) - A hypothetical **10%** change in exchange rates would result in an approximate **$1.5 million** increase or decrease in cost of revenue and operating expenses[212](index=212&type=chunk) [Item 4. Controls and Procedures](index=54&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and Interim CFO, concluded that the Company's disclosure controls and procedures were effective as of June 30, 2025, with no material changes in internal control over financial reporting during the most recent fiscal quarter - The Chief Executive Officer and Interim Chief Financial Officer concluded that the Company's disclosure controls and procedures were **effective** as of June 30, 2025[214](index=214&type=chunk) - No material changes in internal control over financial reporting occurred during the most recent fiscal quarter[216](index=216&type=chunk) [PART II—OTHER INFORMATION](index=56&type=section&id=PART%20II%E2%80%94OTHER%20INFORMATION) This section provides updates on legal proceedings, risk factors, equity security sales, defaults, mine safety, other information, and exhibits [Item 1. Legal Proceedings](index=56&type=section&id=Item%201.%20Legal%20Proceedings) This section updates on ongoing legal proceedings, including a class action lawsuit alleging misclassification of Partners as employees, a class action related to the 2021 merger, and arbitration demands concerning the Video Privacy Protection Act - A class action complaint filed on May 22, 2023, alleges misclassification of Partners as contractors and other California Labor Code violations; **13** arbitrations have been settled for nominal fees[219](index=219&type=chunk) - A class action complaint filed on June 14, 2024, alleges breach of fiduciary duty related to the 2021 merger; aiding and abetting claims against the Company were dismissed without prejudice on December 5, 2024[220](index=220&type=chunk)[221](index=221&type=chunk) - On October 14, 2024, **10** arbitration demands were filed alleging violations of the Video Privacy Protection Act, with intentions to file similar demands for approximately **6,239** additional subscribers[223](index=223&type=chunk) [Item 1A. Risk Factors](index=58&type=section&id=Item%201A.%20Risk%20Factors) There have been no material developments regarding the risk factors previously reported in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 - No material developments have occurred with respect to the risk factors previously disclosed in the Annual Report on Form 10-K for the fiscal year ended December 31, 2024[224](index=224&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=58&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The Company reported no unregistered sales of equity securities or use of proceeds during the period - There were no unregistered sales of equity securities or use of proceeds to report[226](index=226&type=chunk) [Item 3. Defaults Upon Senior Securities](index=58&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The Company reported no defaults upon senior securities during the period - There were no defaults upon senior securities to report[227](index=227&type=chunk) [Item 4. Mine Safety Disclosures](index=58&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the Company - This item is not applicable[228](index=228&type=chunk) [Item 5. Other Information](index=58&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the three months ended June 30, 2025 - No director or officer adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during the three months ended June 30, 2025[229](index=229&type=chunk) [Item 6. Exhibits](index=59&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed as part of the Form 10-Q, including organizational documents, warrant forms, credit agreements, and certifications - The exhibits include the Second Amended and Restated Certificate of Incorporation, Bylaws, Form of Third Amended and Restated Warrant to Purchase Stock, and the Credit Agreement dated May 13, 2025[231](index=231&type=chunk) - Certifications from the Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14(a) and 15d-14(a) are filed herewith[231](index=231&type=chunk) [SIGNATURES](index=60&type=section&id=Signatures) This section contains the official signatures of the Chief Executive Officer and Interim Chief Financial Officer, certifying the report - The report was signed on August 6, 2025, by Carl Daikeler, Chief Executive Officer, and Brad Ramberg, Interim Chief Financial Officer[237](index=237&type=chunk)
Beachbody (BODI) Q2 Revenue Falls 42%
The Motley Fool· 2025-08-06 02:59
Core Insights - Beachbody reported Q2 2025 revenue of $63.9 million, exceeding analyst expectations by $6.3 million or 10.9% [1] - The company experienced a loss per share of $0.85, which was an improvement from last year's loss of $1.59, but still fell short of analyst projections [1][2] - Year-over-year revenue declined sharply by 42.0%, with significant drops in digital and nutrition subscriptions [1][5] Financial Performance - Revenue for Q2 2025 was $63.9 million, compared to estimates of $57.6 million and $110.2 million in Q2 2024 [2] - Adjusted EBITDA was $4.6 million, down 6.1% from the previous year, marking the seventh consecutive quarter of positive adjusted EBITDA [2][7] - Digital subscriptions decreased by 18.3% year-over-year to 0.94 million, while nutritional subscriptions fell by 52.1% to 0.07 million [2][6] Business Model Transition - Beachbody shifted from a multi-level marketing approach to a single-level affiliate model and e-commerce-first retail strategy [4] - The transition aims to simplify operations and expand product reach, with success dependent on digital subscriber retention and effective product innovation [4][14] - The company plans to roll out retail versions of its nutritional products in late 2025 and into 2026, targeting a broader audience despite lower gross margins [10][14] Engagement and Retention - Despite a high digital subscription retention rate of 96.7%, overall engagement metrics, including total streams and DAU/MAU ratios, have declined [6][9] - Total streaming activity decreased by 20.4% year-over-year to 18.0 million streams [6][9] - The company acknowledges challenges in attracting new subscribers amid a competitive digital fitness landscape [9] Future Outlook - Management projects Q3 FY2025 revenue between $51 million and $58 million, with adjusted EBITDA expected to be between $2 million and $6 million [13] - Key factors to monitor include the pace of digital subscriber declines, effectiveness of new retail and affiliate strategies, and cash flow management [14]
The Beachbody Company, Inc. (BODI) Reports Q2 Loss, Tops Revenue Estimates
ZACKS· 2025-08-05 23:31
分组1 - The Beachbody Company reported a quarterly loss of $0.57 per share, which was better than the Zacks Consensus Estimate of a loss of $0.93, and an improvement from a loss of $1.59 per share a year ago, resulting in an earnings surprise of +38.71% [1] - The company achieved revenues of $63.94 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 14.59%, although this represents a decline from year-ago revenues of $110.18 million [2] - The Beachbody Company has surpassed consensus EPS estimates four times over the last four quarters and topped consensus revenue estimates three times during the same period [2] 分组2 - The stock has underperformed, losing about 36.6% since the beginning of the year, while the S&P 500 has gained 7.6% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is -$1.19 on revenues of $48.5 million, and for the current fiscal year, it is -$4.40 on revenues of $221.8 million [7] 分组3 - The Zacks Industry Rank indicates that the Consumer Services - Miscellaneous sector is in the top 41% of over 250 Zacks industries, suggesting that stocks in the top 50% outperform those in the bottom 50% by more than 2 to 1 [8] - The estimate revisions trend for The Beachbody Company was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6]