Research News and Market Data on BODI
March 10, 2026
Net Income Reported for Second Consecutive Quarter
Net Income and Adjusted EBITDA Better Than Guidance
Revenues Above Mid-Point of Guidance
Ninth Consecutive Quarter of Positive Adjusted EBITDA
Full Year Operating Income Reported for First Time Since Going Public in 2021
Positive Free Cash Flow For the Full Year
EL SEGUNDO, Calif.–(BUSINESS WIRE)– The Beachbody Company, Inc. (NASDAQ: BODi) (“BODi” or the “Company”), a leading fitness and nutrition company, today announced financial results for its fourth quarter ended December 31, 2025.
“Over the past two years, we have taken bold steps to completely transform our company and our 4th quarter results are indicative of our successful efforts,” said Carl Daikleler, co-founder and BODi’s Chief Executive Officer. “Looking ahead, our strengthened financial position along with our innovation pipeline, launching in early 2026, will leverage the brand equity we have built in P90X, Insanity, and Shakeology across new channels and price points which fundamentally broadens our addressable market while maintaining the operational discipline that delivered this turnaround.”
“This was the second consecutive quarter of net income and the ninth consecutive quarter of positive adjusted EBITDA. In addition, the company generated positive free cash flow for the year and our cash position is strong with over $39 million of cash on the balance sheet,” said Mark Goldston, BODi’s Executive Chairman. “We’ve built the operational framework and financial flexibility to capitalize on a massive market opportunity that represents the next phase of our growth strategy.”
Fourth Quarter 2025 Results
- Total revenue was $55.5 million compared to $86.4 million in the prior year period.
- Digital revenue was $34.3 million compared to $50.4 million in the prior year period and digital subscriptions totaled 0.87 million in the fourth quarter.
- Nutrition and Other revenue was $21.2 million compared to $34.8 million in the prior year period and nutritional subscriptions totaled 0.08 million in the fourth quarter.
- Connected Fitness revenue was $0.0 million compared to $1.2 million in the prior year period as we ceased the sale of bike inventory in the first quarter of 2025.
- Gross margin was 74.5% compared to 70.5% in the prior year period.
- Total operating expenses were $33.2 million compared to $93.8 million in the prior year period, which included a $20.0 million impairment of goodwill.
- Operating income improved by $41.1 million to $8.2 million, the Company’s second consecutive quarter of operating income, compared to an operating loss of $32.9 million in the prior year period. The current period included a $2.2 million benefit from the reversal of a bonus accrual that was recorded in the third quarter and the Company did not record a bonus accrual in the current period.
- Net income was $5.2 million compared to a net loss of $34.6 million in the prior year period, which included a $20.0 million impairment of goodwill.
- Adjusted EBITDA 1 was $12.9 million compared to $8.7 million in the prior year period.
- Adjusted net income (loss) 1 was income of $7.2 million compared to a loss of $4.7 million in the prior year period.
Full Year 2025 Results
- Total revenue was $251.7 million compared to $418.8 million in the prior year.
- Digital revenue was $153.3 million compared to $224.3 million in the prior year.
- Nutrition and Other revenue was $97.6 million compared to $187.8 million in the prior year.
- Connected Fitness revenue was $0.9 million compared to $6.6 million in the prior year as we ceased the sale of bike inventory in the first quarter of 2025.
- Gross margin was 73.0% compared to 68.6% in the prior year period.
- Total operating expenses were $178.3 million compared to $353.6 million in the prior year, which included a $20.0 million impairment of goodwill.
- Operating income increased by $71.7 million to $5.5 million, the Company’s first full year operating income since going public, compared to an operating loss of $66.2 million in the prior year.
- Net loss was $2.9 million compared to a net loss of $71.6 million in the prior year, which included a $20.0 million impairment of goodwill.
- Adjusted EBITDA 1 was $30.8 million compared to $28.3 million in the prior year.
- Adjusted net income 1 was $3.5 million, the Company’s first full year adjusted net income since going public, compared to a loss of $31.2 million in the prior year.
- Cash provided by operating activities for the year ended December 31, 2025 was $21.8 million compared to cash provided by operating activities of $2.6 million in the prior year, and cash used in investing activities was $4.4 million compared to cash provided by investing activities of $1.1 million in the prior year. Free cash flow 1 was $17.4 million compared to $(2.0) million in the prior year.
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
Outlook for The First Quarter of 2026
Conference Call and Webcast Information
BODi will host a conference call at 5:00pm ET on Tuesday, March 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) 470-1428 (U.S. & Canada) and provide the conference identification number: 871093. The conference call will also be available to interested parties through a live webcast at https://investors.thebeachbodycompany.com/.
A replay of the call will be available until March 17, 2026, by dialing (866) 813-9403 (U.S. & Canada). The replay passcode is 989620.
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, formerly known as Beachbody, has been a pioneer in structured, step-by-step home fitness and nutrition programs for nearly three decades with iconic products such as P90X, Insanity, and 21-Day Fix, plus the original premium superfood nutrition supplement, Shakeology. Since its inception, BODi has helped more than 30 million people reach life-changing results. Today, BODi continues to evolve with a simple mission: help people achieve their goals and lead healthier, more fulfilling lives, especially busy, time-strapped people who want to fit healthy habits into everyday life with proven solutions. The BODi community empowers millions of people to stay motivated and accountable, supporting healthy weight management, improved metabolic function, increased mental, and physical well-being, better sleep, as well as evidence-based habits that enhance health span and longevity. 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 first quarter, 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 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.
Investor Relations
IR@BODi.com
Source: The Beachbody Company, Inc.