Team Beachbody
May 8, 2023
El Segundo, Calif., May 8, 2023 --
The Beachbody Company reported first-quarter 2023 revenue of 144.9 million dollars, down 27 percent from 198.9 million dollars a year earlier. Net loss narrowed to 29.2 million dollars from 73.5 million dollars, and adjusted EBITDA was a 0.9 million dollar loss versus a 19.1 million dollar loss. Operating loss improved by 47.0 million dollars to 27.4 million dollars.
Digital revenue was 64.8 million dollars with 1.75 million digital subscriptions. Nutrition and other revenue was 74.1 million dollars. Connected fitness revenue fell to 6.0 million dollars. Cash ended the quarter at 66.4 million dollars. The company said it completed the transition to its expanded BODi Health Esteem platform during the quarter.
Co-founder, chairman and chief executive Carl Daikeler said renewals and upgrades were ahead of expectations and that nutrition retention and attachment supported higher lifetime value. Second-quarter 2023 guidance is revenue of 125 million to 140 million dollars and an adjusted EBITDA loss of 5 million to 10 million dollars.