Beachbody Company Inc ( (BODI) ) has released its Q4 earnings. Here is a breakdown of the information Beachbody Company Inc presented to its investors.
The Beachbody Company, Inc., also known as BODi, is a prominent player in the fitness and nutrition industry, renowned for its structured home fitness programs and nutritional products. The company recently reported its financial results for the fourth quarter and full fiscal year 2024, highlighting a strategic transformation and financial improvements.
Beachbody’s financial performance for 2024 showed a significant improvement in key areas, despite a decline in total revenue to $418.8 million from $527.1 million the previous year. The company achieved a gross margin of 70.5%, an increase of 830 basis points from the prior year, and reported its fifth consecutive quarter of positive adjusted EBITDA, reaching $8.7 million for the fourth quarter and $28.3 million for the full year.
The company’s strategic shift from a Multi-Level Marketing network to a single-level affiliate model was a pivotal move, aimed at streamlining operations and enhancing liquidity. This transition contributed to a reduction in operating expenses and a decrease in net loss to $71.6 million from $152.6 million the previous year. Additionally, Beachbody’s digital revenue and subscription numbers saw a decline, with digital revenue falling to $224.3 million and total subscriptions decreasing by 21% year-over-year.
Looking ahead, Beachbody’s management remains optimistic about the future, focusing on maximizing market opportunities and continuing to generate positive operating cash flow. The company plans to leverage its multi-channel strategy and introduce innovative products to drive growth in 2025.