Team Beachbody
August 12, 2021
The Beachbody Company reported second-quarter revenue of 223.1 million dollars, up 2 percent from a year earlier and 21 percent from 2019. Digital revenue rose 20 percent to 94.3 million dollars. Nutrition and other revenue fell 8 percent to 128.8 million dollars. Digital subscriptions ended at 2.7 million, up 13 percent. Nutritional subscriptions were 0.4 million, compared with 0.5 million a year earlier. Net loss widened to 12.4 million dollars from 10.0 million dollars. Adjusted EBITDA was a loss of 4.4 million dollars, compared with a 0.9 million dollar profit a year earlier.
Results include five days of Myx Fitness after the June 25 combination with Myx and Forest Road Acquisition Corp. Co-founder, chairman, and chief executive Carl Daikeler said the public listing and connected-fitness addition set up a longer growth period. President and chief financial officer Sue Collyns said the later close pushed 12 million dollars of media spending into the second half and delayed the Myx bike launch inside the coach system.
Cash was 347.2 million dollars with no debt. Full-year revenue guidance was 930 million to 960 million dollars, and adjusted EBITDA was guided to a loss of 110 million to 100 million dollars. The company raised connected-bike unit plans about 30 percent to 95,000 and planned 33 million dollars more media spending in the second half than earlier forecasts, for 189 million dollars in 2021.