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The Beachbody Company (BODY) investor relations material
The Beachbody Company Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary10 Nov, 2025
Executive summary
Achieved first net income since going public in 2021, with $3.6 million in Q3 2025 versus a $12 million loss in Q3 2024, marking a major milestone in turnaround efforts.
Operating model improvements and cost reductions led to eight consecutive quarters of positive adjusted EBITDA and significant operating expense reductions.
Cash position of $33.9 million at September 30, 2025, exceeds outstanding debt principal, providing financial flexibility.
Completed transition from MLM to an omnichannel/affiliate model, reducing break-even revenue and resulting in significant headcount reductions and restructuring costs.
Financial restructuring largely complete, with focus shifting to growth, innovation, and major retail launches in 2026.
Financial highlights
Q3 2025 revenue was $59.9 million, down 41.4% year-over-year, with digital revenue at $36.4 million and nutrition/other revenue at $23.5 million.
Q3 gross margin improved to 74.6%, up 730 bps year-over-year, at the high end of long-term targets.
Q3 net income was $3.6 million; adjusted EBITDA was $9.5 million; free cash flow for nine months was $13.1 million.
Operating expenses declined 52% year-over-year to $39.7 million, reflecting restructuring and headcount reductions.
Cash generated from operations in Q3 was $10.2 million, with net cash provided by operating activities for nine months at $16.8 million.
Outlook and guidance
Q4 2025 revenue expected between $50 million–$57 million; net income between -$1 million and $3 million; adjusted EBITDA between $5 million–$9 million.
Management anticipates potential violation of ABL Facility covenants in Q4 2025 and Q1 2026, raising substantial doubt about going concern if amendments are not secured.
Long-term digital gross margin target of 87%–89%; nutrition and other gross margin target of 46%–52%; total gross margin target of 70%–75%.
Retail rollout expected to begin late Q1 2026, with most shelf presence and revenue materializing in Q2 and beyond.
Management expects positive free cash flow for the full year and plans to expand distribution into new channels.
2026 retail revenue contribution
Nutrition volume growth from new pricing
ChatGPT app's acquisition impact
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Next The Beachbody Company earnings date
Sidoti's Year End Virtual Investor Conference10 Dec, 2025
Next The Beachbody Company earnings date
Sidoti's Year End Virtual Investor Conference10 Dec, 2025
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The Beachbody Company Inc provides at-home fitness and nutrition subscription services. Its offerings include streaming workout programs, fitness equipment, and nutritional supplements. The company is headquartered in El Segundo, California, and its shares are listed on the NYSE.
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