Beachbody Company (BODI) reported sales fell 41.4 percent in $59.9 million. However, the quarter marked the first time the fitness and nutrition company saw a profit since going public in 2021. EBITDA and sales also exceeded guidance.

Carl Daikeler, BODi’s co-founder and chief executive officer, commented, “Our strategic transformation continues to deliver better than expected results. As we continue building a more efficient operating model, we are pleased to have generated net income for the first time since becoming a public company in 2021. We have executed a significant turnaround focused on strengthening our financial position, significantly lowering our break-even point, and enabling the company to capitalize on the operating leverage that is now built into the business. Our improved financial position allows us to leverage our robust innovation pipeline that we have developed with a goal of returning the company to topline growth.

“Looking ahead, we’re building on a solid foundation with eight consecutive quarters of positive adjusted EBITDA and clear visibility to positive free cash flow for the full year. Our strengthened balance sheet positions us to expand distribution into new channels and capitalize on the significant opportunities in the health and wellness market. BODi is uniquely positioned to help more people achieve their fitness goals while driving sustainable growth for our shareholders.”

Third Quarter 2025 Results

  • Total revenue was $59.9 million compared to $102.2 million in the prior year period.
  • Digital revenue was $36.4 million compared to $53.7 million in the prior year period and digital subscriptions totaled 0.90 million in the third quarter.
  • Nutrition and Other revenue was $23.5 million compared to $47.4 million in the prior year period and nutritional subscriptions totaled 0.07 million in the third quarter.
  • Connected Fitness revenue was $0.0 million compared to $1.1 million in the prior year period as we ceased the sale of bike inventory in the first quarter of 2025.
  • Gross margin was 74.6 percent compared to 67.3 percent in the prior year period.
  • Total operating expenses were $39.7 million compared to $81.8 million in the prior year period, which included $9.2 million of restructuring related costs.
  • Operating income improved by $18.0 million to $5.0 million, the Company’s first operating income since going public, compared to an operating loss of $13.0 million in the prior year period.
  • Net income was $3.6 million, the Company’s first net income since going public, compared to a net loss of $12.0 million in the prior year period, which included $9.2 million of restructuring related costs.
  • Adjusted EBITDA1 was $9.5 million compared to $10.1 million in the prior year period.
  • Cash provided by operating activities for the nine months ended September 30, 2025 was $16.8 million compared to cash provided by operating activities of $9.3 million in the prior year period, and cash used in investing activities was $3.7 million compared to cash provided by investing activities of $1.6 million in the prior year period. Free cash flow1 was $13.1 million compared to $5.3 million in the prior year period.

Outlook for The Fourth Quarter of 2025
Revenues in the fourth quarter are expected to range between $50 million and $57 million. Adjusted EBITDA is expected to range between $5 million and $9 million.

Image and Chart courtesy Beachbody Company