Team Beachbody
March 14, 2023
El Segundo, Calif., March 14, 2023 --
The Beachbody Company reported fourth-quarter 2022 revenue of 148.2 million dollars, down 31 percent from a year earlier. Net loss narrowed to 44.9 million dollars from 146.0 million dollars, and adjusted EBITDA was 3.5 million dollars versus a 26.6 million dollar loss. Full-year revenue was 692.2 million dollars, down 21 percent, with a net loss of 194.2 million dollars. Cash ended the year at 80.1 million dollars.
Digital subscriptions fell 23 percent to 2.0 million. The company said that in January 2023 it executed additional cost-reduction initiatives to streamline the business after 2022 restructuring and platform consolidation that included material headcount reductions. On March 9 it announced the BODi rebrand and updated digital platform.
Co-founder, chairman and chief executive Carl Daikeler said the company remains focused on improving profitability and returning to growth. First-quarter 2023 guidance is revenue of 135 million to 140 million dollars and an adjusted EBITDA loss of 3 million to 6 million dollars.