Team Beachbody
November 9, 2022
The Beachbody Company reported third-quarter 2022 revenue of 165.9 million dollars, down 20 percent from a year earlier but 7 percent above the midpoint of its guidance. Digital revenue fell 23 percent to 72.2 million dollars with 2.10 million digital subscriptions, nutrition revenue declined 16 percent to 90.4 million dollars, and connected fitness revenue dropped 44 percent to 3.3 million dollars on about 2,300 bike sales.
Operating expenses fell 32 percent. Net loss narrowed to 33.9 million dollars from 39.9 million dollars, and the adjusted EBITDA loss improved to 6.2 million dollars from 43.4 million dollars. Cash was 94.1 million dollars, supported by an August term loan.
The company guided fourth-quarter revenue of 140 million to 150 million dollars and an adjusted EBITDA loss of 9 million to 14 million dollars. Chief executive Carl Daikeler said the turnaround plan is improving profitability.