The market expects The Beachbody Company, Inc. (BODI) to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report might help the stock move higher if these key numbers are better than expectations. On the other ...

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, 2024 The Beachbody Company, Inc. (Exact name of Registrant as specified in its Charter) Delaware 85-3222090 (State or other jurisdiction of incorporation or organization) 400 Continental Blvd, Suite 400, El Segundo, California 90245 (Address of principal executive offices) (Zip Code) (I.R.S. ...

Core Insights - The Beachbody Company, Inc. (BODI) reported a quarterly loss of $1.89 per share, which was better than the Zacks Consensus Estimate of a loss of $2.88, and an improvement from a loss of $4.80 per share a year ago, indicating a significant earnings surprise of 34.38% [1] - The company achieved revenues of $86.37 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 5.72%, although this represents a decline from year-ago revenues of $119.01 million [2] - The stock has increased approximately 22.6% since the beginning of the year, contrasting with a decline of -2.9% in the S&P 500 [3] Earnings Outlook - The earnings outlook for The Beachbody Company is mixed, with the current consensus EPS estimate for the upcoming quarter at -$1.08 on revenues of $73.6 million, and for the current fiscal year at -$4.60 on revenues of $273.4 million [7] - The company has surpassed consensus EPS estimates three times over the last four quarters, indicating a potential for future performance [2] Industry Context - The Consumer Services - Miscellaneous industry, to which The Beachbody Company belongs, is currently ranked in the bottom 8% of over 250 Zacks industries, suggesting that the overall industry outlook may negatively impact the stock's performance [8]

The Beachbody Company, Inc. (BODY) Q4 2024 Earnings Conference Call March 27, 2025 05:00 PM ET Company Participants Tania - ModeratorBruce Williams - Managing Director, ICRMark Goldston - Executive Chairman, The Beachbody CompanyCarl Deichler - Co-Founder and Chief Executive Officer, The Beachbody CompanyBrad Ramberg - Interim Chief Financial Officer, The Beachbody Company Conference Call Participants Susan Anderson - Analyst, Canaccord GenuityJP Wallum - Analyst, Roth Capital PartnersNgochi Sri - Analyst, ...

Exhibit 99.1 Beachbody (BODi) Reports Fourth Quarter and FY 2024 Financial Results Revenues in-line with the high-end of Guidance Gross Margin of 70.5%-up 830 bps over prior year Net Loss of $35 million includes Goodwill Impairment Achieves Fifth Consecutive Quarter of Positive Adjusted EBITDA El Segundo, Calif. (March 27, 2025) – The Beachbody Company, Inc. (NYSE: BODi) ("BODi" or the "Company"), a leading fitness and nutrition company, today announced financial results for its fourth quarter ended Decembe ...

The Beachbody Company, Inc. (BODI) shares ended the last trading session 5.3% higher at $8.36. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.3% gain over the past four weeks.The company is progressing into the next phase of its transformation by transitioning to a modern affiliate network, aimed at expanding market opportunities and enhancing cost efficiency.This company is expected to post quarterly loss of $2 ...

Financial Performance - The Beachbody Company reported a quarterly loss of $1.75 per share, slightly better than the Zacks Consensus Estimate of a loss of $1.76, and a significant improvement from a loss of $5 per share a year ago, indicating an earnings surprise of 0.57% [1] - The company posted revenues of $102.19 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 0.40%, and down from $128.25 million in the same quarter last year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - The Beachbody Company shares have declined approximately 19.7% since the beginning of the year, contrasting with the S&P 500's gain of 25.8% [3] - The current consensus EPS estimate for the upcoming quarter is -$1.57 on revenues of $98.2 million, and for the current fiscal year, it is -$7.02 on revenues of $431.1 million [7] Industry Outlook - The Consumer Services - Miscellaneous industry, to which The Beachbody Company belongs, is currently ranked in the bottom 33% of over 250 Zacks industries, suggesting potential challenges ahead [8] - The performance of The Beachbody Company stock may be influenced by the overall outlook for the industry, as research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]

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 decreased by 20% to $102,193,000 for the three months ended September 30, 2024, down from $128,250,000 in the same period of 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 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 declined by 17% to $53,702,000 for the three months ended September 30, 2024, primarily due to a 20% decrease 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 digital streaming services revenue[170] Nutrition and Other Revenue - Nutrition and other revenue fell by 20% to $47,416,000 for the three months ended September 30, 2024, attributed to 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[170] 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[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] - Adjusted EBITDA for the three months ended September 30, 2024, was $10,136,000, compared to an Adjusted EBITDA loss of $5,833,000 for 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 approximately $18.4 million in costs, with $9.2 million recorded in Q3 2024[145] Expenses - Operating expenses totaled $81,821,000 for the three months ended September 30, 2024, compared to $104,035,000 for the same period in 2023[164] - 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 2023[184] - General and administrative expenses for the three months ended September 30, 2024, decreased by $2.999 million (20%) compared to the same period in 2023, mainly due to a $1.5 million decrease in professional and accounting fees[191] Cash Flow and Liquidity - As of September 30, 2024, the company had cash and cash equivalents totaling $32.3 million, with net cash used in financing activities decreasing to $11.8 million from $17.7 million in the previous year[203][205] - The company generated $1.6 million in net cash from investing activities for the nine months ended September 30, 2024, compared to $(9.7) million in the same period of 2023, driven by proceeds from the sale of the Van Nuys facility[204] - The company expects to generate additional liquidity through continued cost control initiatives and believes existing cash and cash equivalents will meet anticipated cash needs for the next twelve months[210] Tax and Compliance - 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] - The company is in compliance with financial covenants, including a minimum liquidity requirement of $18.0 million as of September 30, 2024, which will be amended to $9.5 million through December 31, 2024[207][208] Other Financial Metrics - The company recorded a gross profit of $68,811,000 for the three months ended September 30, 2024, down from $75,031,000 in the same period of 2023[164] - The principal balance outstanding under the Term Loan was $25.3 million as of September 30, 2024, with an effective interest rate of 23.35% for the nine months ended September 30, 2024[206]

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]. - 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 the prior year[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 in restructuring costs[4]. - The company reported a net loss of $12.0 million in Q3 2024, compared to a net loss of $32.7 million in Q3 2023, showing an improvement of 63.3%[18]. - Operating loss for Q3 2024 was $13.0 million, significantly reduced from an operating loss of $29.0 million in Q3 2023[18]. - Adjusted EBITDA is used to evaluate the company's core operating performance, excluding non-cash and non-recurring expenses[20][21][22]. - The company reported 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 63.2% improvement[23]. - Adjusted EBITDA for the three months ended September 30, 2024, was $10,136,000, compared to an Adjusted EBITDA loss of $5,833,000 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 flows from operating activities provided $9.3 million in Q3 2024, a significant improvement compared to cash used of $14.6 million in Q3 2023[19]. - The company ended Q3 2024 with cash, cash equivalents, and restricted cash of $32.3 million, down from $38.2 million at the end of Q3 2023[19]. - Free cash flow for the nine months ended September 30, 2024, was $5,317,000, compared to a negative free cash flow of $20,082,000 for the same period in 2023, showing a positive shift in cash generation[28]. Strategic Initiatives - 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 plans to continue focusing on digital and nutrition segments while managing costs to improve profitability[20]. - The company announced a restructuring initiative called the Pivot, which will convert its MLM model to a single-level affiliate model and reduce its 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]. - 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]. Asset Management - 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]. - 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 a loss on partial debt extinguishment of $1,928,000 for the nine months ended September 30, 2024, compared to a loss of $3,168,000 for the same period in 2023[23].

Core Viewpoint - Beachbody is restructuring its business model by transitioning from a multi-level marketing structure to a single-level affiliate program, resulting in significant layoffs and cost-cutting measures [1][2][4]. Group 1: Business Model Changes - The company will lay off nearly 200 workers, which is about one-third of its workforce of approximately 580 employees, as part of the restructuring [2][3]. - The new affiliate model will financially reward individuals for driving traffic, leads, or sales through promotional and marketing efforts, aiming for a simpler and more modern approach [2][3]. Group 2: Financial Implications - Beachbody anticipates that the cost-cutting measures will save the company $54 million on overhead [4]. - The restructuring will lower the revenue break-even point from less than $430 million to less than $225 million in annual revenue [4]. - The company expects its revenue for the third quarter ending September 30 to be in the range of $97 million to $107 million [4].