The Beachbody Company (BODY) Canaccord Genuity's 46th Annual Growth Conference summary

Company history and turnaround

• 28-year-old business with over $12.5 billion in sales and 32 million users, operating in a $6.5 trillion health market.

• Transitioned from infomercial and MLM to omni-channel, disbanding MLM in December 2024 and focusing on DTC and retail.

• Headcount reduced from over 1,000 to under 300, with breakeven revenue lowered from $900 million to $160 million.

• Achieved 11 consecutive quarters of positive adjusted EBITDA and significant debt reduction.

• Financial turnaround completed a year ahead of schedule, enabling acceleration of innovation pipeline.

Product innovation and retail expansion

• Launched 10-Minute BODi program targeting sedentary Americans and new P90X program after a decade.

• Shakeology, with $3.7 billion in sales, expanded from DTC to retail, now in 131 Sprouts and 481 The Vitamin Shoppe stores.

• Introduced new P90X and Insanity energy drinks, with test markets planned for late 2026.

• Multi-channel strategy includes retail, DTC, and Amazon, with a pivot to prioritize nutrition in advertising.

• Pipeline accelerated: new programs and products originally set for 2027 now launching throughout 2026.

Financial performance and strategic highlights

• Free cash flow improved by $310 million, reaching $17.4 million in 2025.

• Adjusted EBITDA improved by $116.9 million, with $76.5 million cumulative over 11 quarters.

• Four consecutive quarters of positive net income, $32.4 million cash, and $25 million debt.

• New lower-priced, smaller Shakeology format enables broader retail and online distribution.

• Focus remains on fitness, nutrition, and wellness, avoiding low-margin physical equipment.