Beachbody Company reports Q2 EPS (8c), consensus (9c)

Reports Q2 revenue $134.9M, consensus $136.3M. “We are encouraged by our performance in the second quarter and the progress made towards our company transformation. To that end, I am pleased that Mark Goldston has joined the company as Executive Chairman to work with us to execute on the significant opportunities in front of us. Mark has been running public companies for decades with a focus on turnarounds and we have already benefited from his expertise,” said Carl Daikeler, CEO. ” We have restructured the financial covenants in our financing agreement and paid down our debt level by $15 million to approximately $35 million, which reduces our interest expense and gives additional flexibility to execute on our strategies and to develop profitable revenue streams that generate healthy cash-flows. Also, from a cash standpoint, given our third quarter guidance range, we plan on using less than $5 million in cash from operations as we continue to improve our margins and cost structure. We are excited about the trajectory of BODi’s transformation and are proud of our team’s hard work to get us where we are today. ”