Team Beachbody
November 7, 2023
EL SEGUNDO, Calif., November 7, 2023 --
The Beachbody Company, Inc. reported third-quarter 2023 revenue of 128.3 million dollars, down 22.7 percent from 166.0 million dollars a year earlier. Digital revenue fell to 64.3 million dollars from 72.2 million dollars with 1.38 million digital subscriptions, nutrition and other revenue fell to 59.0 million dollars from 90.4 million dollars with 0.18 million nutritional subscriptions, and connected fitness revenue rose to 4.9 million dollars from 3.3 million dollars.
Net loss narrowed slightly to 32.7 million dollars from 33.9 million dollars. Cash used in operations fell to 0.2 million dollars in the quarter from 6.5 million dollars in the second quarter, and cash used in operating and investing activities over nine months was 24.3 million dollars versus 60.1 million dollars a year earlier.
For the fourth quarter the company forecast revenue of 105 million to 115 million dollars, a net loss of 25 million to 30 million dollars and adjusted EBITDA of negative 1 million to negative 6 million dollars. Co-founder and Chief Executive Carl Daikeler said the company's turnaround plan was in place, with a focus on cost reduction and sales and marketing initiatives to drive activation and engagement.