The Beachbody Company, Inc. (BODi) entered an amendment to its credit agreement with Tiger Finance, LLC, which the company reported “significantly enhances” its financial flexibility through amended covenant terms.
The amendment streamlines the financial covenant structure and adjusts certain financial covenants, including the number of digital subscriptions and total billings. The amended covenants, except for the amended liquidity covenant, will not be required to be tested if the company’s cash balance is above a certain threshold.
The amendment continues to provide for potential interest rate reductions, with the first opportunity to decrease rates now beginning with the period ended December 31, 2026.
Mark Goldston, executive chairman of BODi, commented: “These less restrictive covenants reflect our rapidly improving liquidity position and validate the strategic turnaround we’ve executed over the past two years. Our amended covenants provide us with additional flexibility to execute on our growth strategies as we transition from financial restructuring to capitalizing on new revenue opportunities in 2026.”
Carl Daikeler, co-founder and chief executive officer at BODI, added: “This amendment positions us well to pursue our comprehensive retail initiative and innovation pipeline while maintaining the financial discipline that has delivered eight consecutive quarters of positive adjusted EBITDA.”
The company’s cash position of $34 million on September 30, 2025, exceeded its $25 million debt level by $9 million, positioning BODi for its planned growth initiatives in 2026.
Image courtesy Bodi
