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The Beachbody Company, Inc. (symbol: BODI) is a leading health and wellness platform dedicated to providing comprehensive fitness, nutrition, and stress-reducing programs. Its offerings encompass a wide range of digital subscriptions, nutritional products, and connected fitness products, designed to cater to diverse customer needs. Operating primarily in the United States, Beachbody's two main segments are Beachbody and Other, which together drive the majority of its revenue.
Among its core products, Beachbody's digital subscriptions offer a variety of on-demand workout programs and personalized fitness plans that users can access from anywhere. The company's nutritional products include popular supplements and meal replacement shakes that support balanced diets and healthy lifestyles. Additionally, Beachbody's connected fitness products integrate technology with exercise equipment to provide interactive and engaging fitness experiences.
Recently, The Beachbody Company has been focusing on expanding its digital ecosystem and enhancing user experience through strategic partnerships and innovative product launches. This growth strategy is aimed at leveraging the increasing demand for at-home fitness solutions, driven by changing consumer behaviors and preferences.
Financially, The Beachbody Company continues to innovate and adapt in response to the evolving market dynamics, ensuring robust performance and sustainable growth. By staying attuned to customer needs and industry trends, Beachbody remains a significant player in the health and wellness sector.
The Beachbody Company (NYSE: BODI) announced a strategic shift in its core business model, transitioning from a Multi-Level Marketing (MLM) Network to a single-level Affiliate Program launching November 1, 2024. This change aims to streamline operations and position the company for profitable growth. Key points include:
- Reducing costs and broadening distribution channels
- Lowering the revenue break-even point by ~47%, from $430 million to $225 million annually
- Reducing workforce by 33%, expecting $54 million in annualized overhead savings
- Expanding direct-to-consumer, Amazon, and partnership-driven sales channels
- Reaffirming Q3 2024 guidance: revenue of $97-107 million, net loss of $9-13 million (excluding restructuring charges), and Adjusted EBITDA of $2-6 million
The company views this evolution as necessary to adapt to current market dynamics and consumer preferences, aiming to simplify customer acquisition and reward sellers directly for their efforts.
BODi, a leading fitness and nutrition company, has named Dean Muhtadi, former professional football player and wrestler, as its newest Brand Ambassador. Muhtadi, known for his wrestling persona 'Mojo Rawley', will promote BODi's fitness programs and nutrition benefits after achieving remarkable results through the LIIFT4 program.
Muhtadi's journey with LIIFT4, a program combining weightlifting and high-intensity interval training, has been shared on his social media platforms, reaching his 365K+ Instagram followers. He and his cousin Laith Chaz have been motivating their audience with a mix of intense workouts and entertaining content.
As a Brand Ambassador, Muhtadi will participate in various promotional activities, including social media campaigns, virtual workout sessions, and special events, aiming to inspire others to achieve their fitness goals with BODi's programs.
BODi (NYSE: BODI) has announced a strategic partnership with Truemed, enabling qualifying customers to use pre-tax HSA or FSA funds for purchasing BODi nutritional supplements and fitness offerings. This collaboration allows customers to save up to 40% on BODi products, including Shakeology and the Beachbody Performance line. To qualify, customers must complete an online medical assessment with Truemed to obtain a Letter of Medical Necessity (LMN), valid for one year. The partnership aims to make health and wellness more accessible to the over 40% of Americans with HSA/FSA accounts. Eligible customers can receive reimbursement for their purchases by submitting their LMN and BODi receipts to their HSA or FSA administrator.
BODi (NYSE: BODI) launched a new fitness program, '4 Weeks of Focus', featuring fitness trainer Kelsey Heenan and actress Shay Mitchell. Available with a BODi subscription or separately for $59.95, this program includes 20 unique workouts over four weeks, designed for all fitness levels. The workouts blend resistance with cardio, enhancing calorie burn and muscle gains.
Shay Mitchell's impressive results were highlighted across major media outlets, emphasizing strength and health benefits. The program aims to deliver substantial progress in just 30 minutes a day, five days a week.
Beachbody (BODi) reported its Q2 2024 financial results, revealing improved performance metrics. Total revenue reached $110.2 million, surpassing the guidance midpoint but reflecting an 18.4% decline year-over-year. Net loss was $10.9 million, significantly better than the previous year’s loss of $25.7 million. Adjusted EBITDA improved to $4.9 million, marking the third consecutive quarter of positive results.
While digital revenue decreased to $58.8 million, nutritional revenue fell to $50.1 million. Operating expenses were reduced to $85.9 million, down from $106.9 million. The company also reported its lowest net loss since going public and an overall gross margin of 69%, the best since 2021. Cash provided by operating activities was $8.2 million, marking a positive shift from the prior year’s $14.4 million used in operations.
The company projects Q3 2024 revenue between $97 million and $107 million, with adjusted EBITDA ranging from $2 million to $6 million.
BODi by Beachbody (NYSE: BODI) has become an Official Wellness Supporter of the American Diabetes Association (ADA). This partnership aims to improve the lives of 136 million Americans with diabetes or prediabetes. The collaboration will focus on providing healthy lifestyle solutions, including fitness and nutrition resources.
Key points:
- ADA advises 150 minutes per week of moderate-intensity aerobic activity
- Diabetes cost the US $412.9 billion in 2022, accounting for 1 in 4 healthcare dollars
- BODi will create a dedicated microsite with diabetes-related information and tailored wellness solutions
- Special pricing for BODi digital programs, with a portion of proceeds donated to ADA (minimum $100,000 commitment)
The Beachbody Company (NYSE: BODI), a leading fitness and nutrition company, has announced its participation in Canaccord Genuity's 44th Annual Growth Conference. The event will take place at the InterContinental Boston on August 14, 2024. Mark Goldston, Executive Chairman, and Oswaldo Busquets, Executive Vice President of Finance, will represent BODi and present at 8:30am EST.
Investors and interested parties can access the live webcast and replay of the presentation through the Investor Relations page on the company's website. This conference provides BODi with an opportunity to showcase its growth strategies and financial performance to potential investors and analysts.
The Beachbody Company, Inc. (NYSE: BODI), a leading health and fitness company, has announced the release date for its second quarter 2024 earnings report. The company will disclose its financial results on Tuesday, August 6, 2024, after the U.S. stock market closes. Following the release, BODi will host a conference call at 5:00 p.m. Eastern Time to discuss the results.
Investors and interested parties can join the call using the toll-free dial-in number (833) 470 1428 for U.S. & Canada, or access global dial-in numbers. The conference ID is 868605. Additionally, a live webcast of the call will be available on the company's investor relations website. For those unable to attend, a replay will be accessible from August 6 to August 13, 2024, using the toll-free replay number (866) 813-9403 with passcode 798090.
The Beachbody Company (NYSE: BODI), a leader in health and fitness, has partnered with CAP Barbell to offer four exclusive fitness bundles during Amazon Prime Day, scheduled for July 16-17, 2024. These bundles, which are to 2,000 customers, include various fitness equipment and a free digital purchase of a BODi fitness program worth up to $59.95. Programs available include popular ones like P90X and 21 Day Fix. Customers must create a BODi account to redeem the digital offer. Pricing will be revealed on Prime Day.
The Beachbody Company (NYSE: BODI) has launched a new workout program, BODi LAVA, designed by Super Trainer Elise Joan. This program, costing $59.95, offers 30 digital workouts that blend power yoga, primal movement, and bodyweight training, requiring no equipment. It is set to join BODi's subscription library in December 2024.
Participants in a six-week test group lost up to 24 pounds. The 20-minute daily workouts aim to enhance strength, flexibility, and mobility while reducing joint pain. BODi LAVA includes various training styles such as HIIT, endurance, and agility, and offers additional pre-program and bonus workouts.
CEO Carl Daikeler lauds the program for its convenience and effectiveness, while Elise Joan emphasizes its transformative physical and mental benefits. BODi LAVA is available for purchase starting June 27, 2024.
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