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The Beachbody Company (NYSE: BODY) reported Q3 2021 results, showing total revenue of $208.1 million, a 17% decrease from 2020. Digital subscriptions increased by 1% to 2.64 million, while nutritional subscriptions fell 23% to 0.34 million. The company experienced a net loss of $39.9 million compared to a profit of $13.8 million in the previous year. Due to challenges like delayed product launches and changing consumer demand, Beachbody revised its 2021 revenue guidance to between $820 million and $830 million. An action plan has been initiated to optimize near-term performance and enhance long-term growth.
The Beachbody Company (NYSE: BODY) announced the appointment of Jean-Michel Fournier as President of Global Partnerships and Corporate Development, effective November 1, 2021. Fournier, previously CEO of Les Mills Media, will focus on driving growth through strategic initiatives, particularly enhancing the Openfit platform and expanding international development. Co-Founder Carl Daikeler emphasized Fournier's extensive digital fitness experience as pivotal for scaling customer acquisition and accelerating subscription growth.
The Beachbody Company (NYSE: BODY) is set to announce its fiscal Q3 2021 results on November 15, 2021, after market closure. A conference call will be held at 5:00 p.m. ET to discuss the results. Interested parties can join the call via U.S. toll-free number (833) 989-3106 or internationally at (873) 415-0233, with conference ID 2666107. A live webcast will also be accessible on their investor relations website. A replay of the call will be available from November 15 to November 22, 2021.
Beachbody Company (NYSE: BODY) has launched a new premium subscription tier, BODi, offering an interactive fitness experience that combines studio energy with at-home convenience. Utilizing advanced technology, it features live classes led by renowned trainers and an innovative 'BODcast' feature, allowing up to 100 members to appear on screen. Priced at $19.95 per month or $28.20 when bundled with the annual membership, it also offers day passes for $7. This strategic move aims to enhance member engagement and strengthen its market position.
The Beachbody Company (NYSE: BODY) announced the appointment of Blake Bilstad as Chief Legal Officer, effective October 28, 2021. Bilstad, with over 25 years of experience in public companies, will report to CEO Carl Daikeler and succeed Jonathan Gelfand, who transitions to a new role focused on IP and brand ambassador relations. Bilstad's background includes significant legal roles in health and wellness and technology sectors, contributing to IPOs and M&A. His appointment comes as Beachbody aims to enhance its growth strategy in the fitness and nutrition market.
The Beachbody Company (NYSE: BODY) announced its participation in the Cowen 2nd Annual Health, Wellness & Beauty Summit on September 13, 2021. The management team, including Co-Founder and CEO Carl Daikeler and CFO Sue Collyns, will present at 10:50 a.m. Eastern Time. A live webcast of the presentation is accessible on their investor website. Beachbody is a leading digital fitness and nutrition subscription company headquartered in Southern California, offering platforms like Beachbody On Demand and MYXfitness.
The Beachbody Company (NYSE: BODY) reported its Q2 2021 financial results, including the impact of its merger with Myx Fitness, completed on June 25, 2021. Total revenue reached $223.1 million, a 2% increase year-over-year. Digital revenue grew 20% to $94.3 million, with digital subscriptions rising to 2.7 million, up 13%. However, the company posted a net loss of $12.4 million versus $10 million in 2020. Looking ahead, Beachbody plans substantial investments to drive growth, raising its media budget by $33 million despite expectations for a negative Adjusted EBITDA in H2 2021.
The Beachbody Company (NYSE: BODY) will announce its fiscal Q2 2021 results post-market on August 12, 2021. A conference call is scheduled for 5:00 PM ET the same day, accessible via U.S. toll-free number (833) 989-3106 and international number (873) 415-0233, with conference ID 1094283. A live webcast will be available on the investor relations website. A replay will be offered from August 12 to August 19 via toll-free (800) 585-8367. Beachbody specializes in digital fitness and nutrition subscriptions.
The Beachbody Company (NYSE: BODY) announced the launch of the MYX II bike, enhancing its personalized indoor cycling offerings. This new bike features a 21.5” touchscreen, adjustable seating, and access to two digital fitness platforms: Beachbody on Demand (BOD) and Openfit. MYX II bikes support riders up to 350 lbs and 6'8” tall, promoting a tailored fitness experience. Monthly subscriptions for Openfit start at $29, while BODi launches this fall at about $28.20 per month. The bikes retail for $1,599 and $1,799, including delivery and assembly.