Beachbody Company reports Q3 EPS ($1.75), consensus ($1.58)

Reports Q3 revenue $102.2M, consensus $103.16M. The company said: “Our third quarter results demonstrated the continued successful execution of the first phase of our turnaround plan, with significant improvements in adjusted EBITDA and positive free cash flow generation. As we enter the next phase of our transformation, we are evolving our distribution model to a modern affiliate network that will broaden our market opportunities and further optimize our cost structure. On September 30, 2024, we announced a major change in our business model from a multi-level marketing to a single-level affiliate network. This pivot marks a strategic shift that will fundamentally transform our company and positions us well for long-term profitable growth. This change of our distribution strategy, combined with the expansion of our direct-to-consumer and partnership channels, represents a pivotal moment that will remove legacy barriers associated with the former MLM structure and allow us to fully capitalize on the significant market opportunity in health, nutrition, and wellness.”