News Details

EL SEGUNDO, Calif.--(BUSINESS WIRE)-- The Beachbody Company, Inc. (NASDAQ: BODi) (“BODi” or the “Company”), the proactive wellness company delivering nutrition, supplements, and proven fitness programs that help people take control of their health inside and out, today announced financial results for its third quarter ended September 30, 2026.

“Net income and adjusted EBITDA exceeded the high end of our guidance and revenue met expectations as we continue to transform our business model,” said Carl Daikeler, co-founder and BODi’s Chief Executive Officer. “As the proactive wellness company delivering nutrition, supplements and proven fitness programs that help people take control of their health, we are executing on our omni-channel strategy to place our iconic brands wherever shoppers are. Our innovation pipeline is strong and we expect to continue to benefit from our compelling digital fitness content along with our premium nutritional products as consumers increasingly focus on complete wellness solutions.”

"Our third quarter results mark our twelfth consecutive quarter of positive Adjusted EBITDA and our fifth consecutive quarter of double-digit Adjusted EBITDA margins, reflecting the operating discipline we have built into this company,” said Mark Goldston, BODi’s Executive Chairman. “Additional cost efficiencies are lowering our breakeven point even further and our multi-channel distribution strategy is gaining traction as we bring on new partners and expand our rollout across retail, DTC and Amazon. Our focus on the wellness category, under the BODi Wellness umbrella, significantly broadens our total addressable market and we are well positioned to capitalize on this massive opportunity.”

Third Quarter 2026 Results

• Total revenue was $45.2 million compared to $59.9 million in the prior year period.
  • Digital revenue was $27.8 million compared to $36.4 million in the prior year period and digital subscriptions totaled 0.69 million in the third quarter.
  • Nutrition and Other revenue was $17.4 million compared to $23.5 million in the prior year period and nutritional subscriptions totaled 0.06 million in the third quarter.
• Gross margin was 70.7% compared to 74.6% in the prior year period.
• Total operating expenses were $30.7 million compared to $39.7 million in the prior year period.
• Operating income decreased by $3.7 million to $1.3 million, the Company's fifth consecutive quarter of operating income, compared to $5.0 million in the prior year period.
• Net income was $3.3 million, the Company's fifth consecutive quarter of net income, compared to $3.6 million in the prior year period.
• Adjusted EBITDA ¹ was $6.4 million compared to $9.5 million in the prior year period.
• Adjusted net income ¹ was $0.6 million compared to $4.3 million in the prior year period.
• Cash used in operating activities for the nine months ended September 30, 2026 was $10.1 million compared to cash provided by operating activities of $16.8 million in the prior year period, and cash provided by investing activities was $0.4 million compared to cash used in investing activities of $3.7 million in the prior year period. Free cash flow ¹ was $(12.1) million compared to $13.1 million in the prior year period.

¹Definitions of (1) Adjusted EBITDA, (2) adjusted net income (loss), (3) free cash flow and (4) net cash position, and reconciliations to the comparable GAAP metrics, are at the end of this release.

Key Operational and Business Metrics

NM: Not Meaningful

Outlook for The Fourth Quarter of 2026

⁽¹⁾A reconciliation between the outlook of net income (loss) and the outlook for adjusted net income has only been provided for restructuring expenses expected in the fourth quarter of 2026 and has not been provided for other adjustments given the inability to forecast certain reconciling items without unreasonable efforts. In particular the outlook for net income (loss) and adjusted net income does not include the change in fair value of warrant liabilities as that is significantly impacted by the change in the Company's stock price which cannot be estimated and other potential reconciling items such as impairment of goodwill that are not normal, recurring operating activities that cannot be reasonably forecasted.
⁽²⁾ The outlook for the fourth quarter of 2026 net income (loss) includes restructuring expense of $3 million which is an adjustment to determine adjusted net income.

Conference Call and Webcast Information

BODi will host a conference call at 5:00pm ET on Tuesday, November 10, 2026, to discuss its financial results and matters other than past results, such as guidance. To participate in the live call, please dial (833) 461-5787 (U.S. & Canada) and provide the conference identification number: 705307026. The conference call will also be available to interested parties through a live webcast at https://investors.thebeachbodycompany.com/.

After the conference call, a webcast replay will remain available on the investor relations section of the Company’s website for one year.

About BODi and The Beachbody Company, Inc.

BODi is the proactive wellness company delivering nutrition, supplements, and proven fitness programs that help people take control of their health inside and out. With nearly three decades of experience, BODi, formerly Beachbody, has evolved from a leader in home fitness into a comprehensive health and fitness ecosystem designed to help people achieve their goals and lead healthier, more fulfilling lives. Anchored by science-backed nutrition solutions like Shakeology and supported by its portfolio of proven fitness and habit-building programs, including P90X and INSANITY, BODi is creating a more accessible and effective path to long-term health. Since its inception, BODi has supported more than 30 million customers in achieving lasting results. The company continues to innovate across nutrition and digital fitness to deliver simple, proven solutions for modern lifestyles. For more information, please visit TheBeachBodyCompany.com.

Safe Harbor Statement

This press release of The Beachbody Company, Inc. (“we,” “us,” “our,” and similar terms) contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are statements other than statements of historical facts and statements in future tense. These statements include but are not limited to, statements regarding our future performance and our market opportunity, including expected financial results for the third quarter and full year, our business strategy, our plans, and our objectives and future operations.

Forward-looking statements are based upon various estimates and assumptions, as well as information known to us as of the date hereof, and are subject to risks and uncertainties. Accordingly, actual results could differ materially due to a variety of factors, including: our ability to effectively compete in the fitness and nutrition industries; our ability to successfully acquire and integrate new operations; our reliance on a few key products; market conditions and global and economic factors beyond our control; intense competition and competitive pressures from other companies worldwide in the industries in which we operate; and litigation and the ability to adequately protect our intellectual property rights. You can identify these statements by the use of terminology such as "believe", “plans”, "expect", "will", "should," "could", "estimate", "anticipate" or similar forward-looking terms. You should not rely on these forward-looking statements as they involve risks and uncertainties that may cause actual results to vary materially from the forward-looking statements. For more information regarding the risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements, as well as risks relating to our business in general, we refer you to the "Risk Factors" section of our Securities and Exchange Commission (SEC) filings, including those risks and uncertainties included in the Form 10-K filed with the SEC on March 10, 2026 and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, which are available on the Investor Relations page of our website at https://investors.thebeachbodycompany.com and on the SEC's website at www.sec.gov.

All forward-looking statements contained herein are based on information available to us as of the date hereof and you should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in the forward-looking statements may not be achieved or occur. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance, or achievements. We undertake no obligation to update any of these forward-looking statements for any reason after the date of this press release or to conform these statements to actual results or revised expectations, except as required by law. Undue reliance should not be placed on forward-looking statements.

The Beachbody Company, Inc.
Non GAAP Information

Adjusted EBITDA

We use Adjusted EBITDA, which is a non-GAAP performance measure, to supplement our results presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"). We believe Adjusted EBITDA is useful in evaluating our operating performance, as it is similar to measures reported by our public competitors and is regularly used by security analysts, institutional investors, and other interested parties in analyzing operating performance and prospects. Adjusted EBITDA is not intended to be a substitute for any GAAP financial measure and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry.

We define and calculate Adjusted EBITDA as net income (loss) adjusted for depreciation and amortization, amortization of capitalized cloud computing implementation costs, amortization of content assets, interest expense, income tax provision, equity-based compensation, restructuring costs, and other items that are not normal, recurring, operating expenses necessary to operate the Company’s business as described in the reconciliation below.

We include this non-GAAP financial measure because it is used by management to evaluate BODi’s core operating performance and trends and to make strategic decisions regarding the allocation of capital and new investments. Adjusted EBITDA excludes certain expenses that are required in accordance with GAAP because they are non-cash (for example, in the case of depreciation and amortization and equity-based compensation) or are not related to our underlying business performance (for example, in the case of restructuring costs, interest income and expense).

The table below presents our Adjusted EBITDA reconciled to our net income (loss), the closest GAAP measure, for the periods indicated:

Adjusted Net Income (Loss)

We use adjusted net income (loss), which is a non-GAAP performance measure, to supplement our results presented in accordance with GAAP. We believe adjusted net income (loss) is useful in evaluating our operating performance, as it is similar to measures reported by our public competitors and is regularly used by security analysts, institutional investors, and other interested parties in analyzing operating performance and prospects. Adjusted net income (loss) is not intended to be a substitute for any GAAP financial measure and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry.

We define and calculate adjusted net income (loss) as net income (loss) adjusted for impairment of goodwill, restructuring costs, the change in fair value of warrant liabilities, and other items that are not normal, recurring operating activities necessary to operate the Company's business, and the tax impact of the adjustments as described in the reconciliation below.

We include this non-GAAP financial measure because it is used by management to evaluate BODi’s core operating performance and trends and to make strategic decisions regarding the allocation of capital and new investments. Adjusted net income (loss) excludes certain expenses that are required in accordance with GAAP because they are non-cash (for example, in the case of impairment of goodwill and the change in fair value of warrant liabilities) or are not related to our underlying business performance (for example, in the case of restructuring costs).

The table below presents our adjusted net income (loss) reconciled to our net income (loss), the closest GAAP measure, for the periods indicated:

Net Cash Position

We use net cash position, which is a non-GAAP liquidity measure, to supplement our liquidity as presented in accordance with GAAP. We believe that net cash position is useful in viewing our liquidity, as it is similar to measures reported by our public competitors and is regularly used by security analysts, institutional investors, and other interested parties in analyzing liquidity. Net cash position is not intended to be a substitute for GAAP financial measures and, as calculated may not be comparable to other similarly titled measures of liquidity for other companies in other industries or within the same industry.

The table below presents our net cash position, which is our cash and cash equivalents less the debt on our balance sheet for the periods indicated:

Free Cash Flow

We use free cash flow, which is a non-GAAP liquidity measure, to supplement our cash provided by (used in) operating activities as presented in accordance with GAAP. We believe that free cash flow is useful in evaluating our liquidity, as it is similar to measures reported by our public competitors and is regularly used by security analysts, institutional investors, and other interested parties in analyzing liquidity. Free cash flow is not intended to be a substitute for GAAP financial measures and, as calculated may not be comparable to other similarly titled measures of liquidity for other companies in other industries or within the same industry.

The table below presents our free cash flow, which is our net cash provided by operating activities less cash used for the purchase of property and equipment for the periods indicated: