Team Beachbody
August 8, 2023
El Segundo, Calif., August 8, 2023 --
The Beachbody Company reported second-quarter 2023 revenue of 134.9 million dollars, down 25 percent from 179.1 million dollars a year earlier. Net loss narrowed to 25.7 million dollars from 41.9 million dollars, and adjusted EBITDA was a 4.8 million dollar loss versus a 1.5 million dollar loss. Operating loss improved by 20.2 million dollars to 24.2 million dollars.
Digital revenue was 65.2 million dollars with 1.53 million digital subscriptions. Nutrition and other revenue was 64.6 million dollars. Connected fitness revenue fell to 5.1 million dollars. Cash ended the quarter at 58.7 million dollars. The company said it amended its Blue Torch Capital financing agreement, paid down debt by 15 million dollars to about 35 million dollars, and cited executive chairman Mark Goldston's role in the turnaround.
Co-founder and chief executive Carl Daikeler said transformation progress and cost restructuring supported improved cash use. Third-quarter 2023 guidance is revenue of 120 million to 130 million dollars and an adjusted EBITDA loss of 3 million to 8 million dollars. The Npros directory lists the related name Team Beachbody.