The Beachbody Company(BODI) - 2025 Q2 - Quarterly Results

Revenue Performance - Total revenue for Q2 2025 was $63.9 million, a decrease of 42.0% compared to $110.2 million in the prior year period[5]. - Digital revenue was $39.7 million, down 32.5% from $58.8 million in the prior year, with digital subscriptions totaling 0.94 million, an 18.3% decline[5][6]. - Nutrition and Other revenue was $24.2 million, a decrease of 51.8% from $50.1 million in the prior year, with nutritional subscriptions totaling 0.07 million, down 52.1%[5][6]. - Total revenue for the three months ended June 30, 2025, was $63,941, a decrease of 42% compared to $110,183 for the same period in 2024[19]. - Digital revenue for the six months ended June 30, 2025, was $82,604, down 31% from $120,277 in 2024[19]. Profitability Metrics - Adjusted EBITDA for Q2 2025 was $4.6 million, a slight decrease of 6.1% from $4.9 million in the prior year[5][6]. - Net loss for Q2 2025 was $5.9 million, an improvement of 45.7% compared to a net loss of $10.9 million in the prior year[5][6]. - Gross profit for the three months ended June 30, 2025, was $46,238, compared to $76,376 in 2024, reflecting a decline of 39%[19]. - Operating loss for the six months ended June 30, 2025, was $(7,638), an improvement from $(20,305) in 2024[19]. - Net loss for the three months ended June 30, 2025, was $(5,900), compared to $(10,865) in 2024, indicating a reduction of 46%[19]. - Adjusted EBITDA for the six months ended June 30, 2025, was $8,345, down from $9,482 in 2024[26]. Operating Expenses and Cash Flow - Total operating expenses decreased to $50.2 million from $85.9 million in the prior year, reflecting improved cost management[5]. - Total operating expenses for the three months ended June 30, 2025, were $50,202, a decrease from $85,858 in 2024[19]. - Cash provided by operating activities for the first half of 2025 was $6.6 million, down from $8.2 million in the prior year[5]. - Net cash provided by operating activities decreased to $6,580,000 in 2025 from $8,209,000 in 2024, reflecting a decline of 19.8%[33]. - Free cash flow for the six months ended June 30, 2025, is $4,069,000, a decrease of 22.7% from $5,264,000 in 2024[33]. - Cash used for the purchase of property and equipment was $2,511,000 in 2025, down from $2,945,000 in 2024, indicating a reduction of 14.7%[33]. Future Guidance and Strategic Initiatives - The company expects Q3 2025 revenue guidance between $51 million and $58 million, with an adjusted EBITDA forecast of $2 million to $6 million[8]. - The company aims to achieve positive free cash flow for the full year 2025 for the first time since 2020, marking a significant milestone[2]. - The company is evolving its marketing and distribution models to broaden market opportunities and optimize its product pipeline[2]. Cash Position - Cash and cash equivalents at the end of the period on June 30, 2025, were $25,561, an increase from $20,187 at the beginning of the period[31]. - The net cash position as of June 30, 2025, was $2,261, up from $1,019 on December 31, 2024[31]. - The company reported a loss on debt extinguishment of $2,166 for the three months ended June 30, 2025[26].