Team Beachbody
November 15, 2021
The Beachbody Company reported third quarter revenue of 208.1 million dollars, down 17 percent from a year earlier and up 6 percent from 2019. Digital revenue was 94.1 million dollars, down 5 percent. Nutrition and other revenue was 108.1 million dollars, down 29 percent. Connected fitness revenue was 5.9 million dollars. Net loss was 39.9 million dollars, compared with net income of 13.8 million dollars a year earlier. Adjusted EBITDA was a loss of 43.4 million dollars, compared with a 31.4 million dollar profit.
Digital subscriptions were 2.64 million, up 1 percent. Nutritional subscriptions fell to 0.34 million from 0.44 million. Co-founder, chairman, and chief executive Carl Daikeler blamed softer at-home fitness demand, media spending that missed return targets, and product launches that slipped from September into October.
The company cut full-year revenue guidance to 820 million to 830 million dollars. Adjusted EBITDA guidance stayed a loss of 100 million to 110 million dollars. The same release named Jon Congdon vice chairman, Jean-Michel Fournier president of global partnerships and corporate development, and Blake Bilstad chief legal officer and corporate secretary. Cash was 199.8 million dollars.