Beachbody Posts First Positive Free Cash Flow Quarter Since 2020 as Revenue Hits 120 Million
El Segundo, Calif., May 6, 2024 --
The Beachbody Company, which markets as BODi, reported first-quarter 2024 revenue of 120.0 million dollars, down 17.2 percent from 144.9 million dollars a year earlier, but said it delivered its first positive free cash flow quarter since 2020 and the first sequential quarterly revenue growth since 2021.
Net loss narrowed to 14.2 million dollars from 29.2 million dollars, while adjusted EBITDA turned positive at 4.6 million dollars from a 0.9 million dollar loss. Operating cash flow was 9.1 million dollars and free cash flow was 7.4 million dollars. Net cash position improved to 14.4 million dollars from 3.9 million dollars at year-end 2023.
Co-Founder and Chief Executive Carl Daikeler said results beat the midpoint of revenue and adjusted EBITDA guidance as turnaround initiatives advanced. Digital subscriptions totaled 1.22 million. The company guided second-quarter revenue of 103 million to 113 million dollars and adjusted EBITDA of negative 3 million to positive 3 million dollars.
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