The Beachbody pany(US:BODY)2025-05-14 20:06Revenue Performance - Total revenue for Q1 2025 was $72.4 million, a decrease of 39.7% compared to $120.0 million in Q1 2024[3]. - Digital revenue was $42.9 million, down 30.2% from $61.5 million in the prior year period, with digital subscriptions totaling 1.02 million, a decline of 16.6%[3][7]. - Nutrition and Other revenue was $28.7 million, a decrease of 48.4% from $55.5 million in the prior year, with nutritional subscriptions at 0.08 million, down 47.7%[3][7]. - Connected Fitness revenue fell to $0.8 million, down 73.6% from $3.0 million in the prior year, with approximately 1,500 bikes delivered, a 56.9% decrease[3][7]. - Total revenue for Q1 2025 was $72.363 million, a decrease of 39.8% compared to $120.046 million in Q1 2024[20]. - Digital revenue decreased to $42.911 million, down 30.2% from $61.506 million year-over-year[20]. Profitability and Loss - Operating loss improved to $3.7 million, an improvement of $7.1 million from an operating loss of $10.8 million in the prior year[3]. - Net loss was $5.7 million, significantly improved from a net loss of $14.2 million in the prior year, representing a 59.6% reduction[3][7]. - Net loss for Q1 2025 was $5.748 million, an improvement from a net loss of $14.216 million in Q1 2024[20]. - Adjusted EBITDA for Q1 2025 was $3.7 million, down 19.6% from $4.6 million in the prior year[3][7]. - Adjusted EBITDA for Q1 2025 was $3.713 million, compared to $4.554 million in Q1 2024, reflecting a decrease of 18.5%[26]. Cash Flow and Liquidity - Cash and cash equivalents at the end of Q1 2025 were $18.126 million, down from $20.187 million at the end of Q4 2024[30]. - The net cash position improved to $1.701 million in Q1 2025, compared to $1.019 million in Q4 2024[30]. - Free cash flow for Q1 2025 is $1,648,000, a decrease of 77.8% compared to $7,435,000 in Q1 2024[32]. - Net cash provided by operating activities for Q1 2025 is $2,342,000, down from $9,134,000 in Q1 2024, representing a decline of 74.3%[32]. - Cash used for the purchase of property and equipment in Q1 2025 is $694,000, compared to $1,699,000 in Q1 2024, indicating a reduction of 59.1%[32]. Outlook and Future Projections - The outlook for Q2 2025 projects revenue between $51 million and $61 million, with a net loss expected between $7 million and $3 million[10]. Operational Metrics - Average digital retention improved to 97.0%, up 130 basis points from 95.7% in the prior year[7]. - Operating expenses for Q1 2025 were $55.223 million, down 40.1% from $92.105 million in Q1 2024[20]. - Inventory decreased to $13.480 million in Q1 2025 from $16.303 million in Q4 2024[18]. - The company reported a gross profit of $51.549 million for Q1 2025, down 36.5% from $81.282 million in Q1 2024[20]. - Total current liabilities decreased to $118.844 million in Q1 2025 from $127.638 million in Q4 2024[18]. Debt and Financing - The company announced a new $25 million, 3-year committed lending agreement, which allowed for the retirement of $17.3 million of outstanding debt and added approximately $5 million to the balance sheet[2][5].