The Beachbody Co., Inc. operates as a health and wellness company. It offers holistic health and wellness platforms. The company's product offerings ...
The Beachbody Company, Inc. (BODI) is a health and wellness company that operates as a provider of holistic health and wellness platforms. The company's product offerings include digital subscriptions, nutritional products, and connected fitness products. Digital subscriptions include Beachbody On Demand (BOD) and Openfit, which provide unlimited access to a ...The Beachbody Company, Inc. (BODI) is a health and wellness company that operates as a provider of holistic health and wellness platforms. The company's product offerings include digital subscriptions, nutritional products, and connected fitness products. Digital subscriptions include Beachbody On Demand (BOD) and Openfit, which provide unlimited access to a library of live and on-demand fitness and nutrition content on a monthly, quarterly, or annual basis. Nutritional products include Shakeology, Beachbody Performance supplements, and BEACHBARs. Connected fitness products include The Beachbody Bike (also known as Myx), equipped with a swivel touch screen that enables users to engage with content beyond indoor cycling, incorporating resistance training and yoga for a holistic fitness experience. The company was founded by Carl Daikeler and Jon Congdon in 1998 and is headquartered in El Segundo, CA. As of the latest data, the company has approximately 270 full-time employees and trades on the NASDAQ Capital Market. Financially, the company has a market cap of about $45.5 million, with a price-to-earnings ratio of 3.57, and a net profit margin of 5.7%. The company has a gross profit margin of 72.9% and an EBITDA margin of 13.6%. Key financial metrics include an enterprise value of $38.03 million, a free cash flow of $5.1 million, and a book value per share of $5.18. The company has a debt-to-equity ratio of 0.669 and a current ratio of 0.787. Management includes CEO Carl Daikeler, who co-founded the company with the goal of helping people achieve their goals and lead healthy fulfilling lives. The company focuses on delivering innovative fitness and nutrition solutions to improve Health Esteem.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$251.7M
-39.9%
-8.6%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-2.9M
+96.0%
-39.5%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+73.0%
+6.4%
+2.6%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+3.2%
+120.1%
-41.4%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-1.1%
+93.4%
-33.8%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$17.4M
+976.3%
-214.9%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+6.9%
+1557.9%
-244.5%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
81.1%
+1.6%
-8.5%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.74x
+19.6%
+5.5%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Thank you. Hello everyone. Thank you for joining us and welcome to The Beachbody Company, Inc. Second Quarter 2026 Earnings Conference Call. [Operator Instructions] I will now hand the conference over to Bruce Williams, Managing Director of ICR. Bruce, please go ahead.
Bruce Williams: Welcome everyone and thank you for joining us for our Second Quarter Earnings Call. With me on the call today are Mark Goldston, Executive Chairman of The Beachbody Company; Carl Daikeler, Co-Founder and Chief Executive Officer; and Brad Ramberg, Interim Chief Financial Officer. Following the prepared remarks, we'll open the call for questions. Before we get started, I would like to remind you of the company's safe harbor language. Statements contained in this conference call, which are not historical facts, may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual future results may differ materially from those suggested by such statements due to a number of risks and uncertainties, all of which are described in the company's filings with the SEC, which includes today's press release. Today's call will include references to non-GAAP financial measures such as adjusted EBITDA, net cash, and free cash flow and a reconciliation of these non-GAAP financial measures to the most comparable GAAP financial measures is available within the earnings release, which can be found on our website. Now, I would like to turn the call over to Mark.
Mark Goldston: Thanks very much, Bruce, and good afternoon, everyone. Welcome to the BODi Second Quarter 2026 Earnings Call. I'm pleased to report that BODi delivered another quarter of consistent execution against the turnaround we've been building for 3 years now. Total revenue for the second quarter was $49.6 million, above the midpoint of our guidance range of $46 million to $51 million. More importantly, this was our fourth consecutive quarter of both operating income and net income, and it was our 11th consecutive quarter of positive adjusted EBITDA, which came in at $6.7 million, which was above the high end of our guidance range of $3 million to $6 million. That also marks our fourth consecutive quarter of double-digit adjusted EBITDA margins, which tells you that the operational discipline that we've built into this business over the past 3 years is durable. Net income for the quarter was $1.4 million, also above the high end of our guidance range of a loss of $3 million to breakeven. So across the board, revenue, net income and adjusted EBITDA, we either met or exceeded our own guidance again this quarter. Let's turn to the balance sheet. We ended the quarter with $32.4 million of cash. That's against the total debt of approximately $23.6 million. So we had a net cash position of $8.8 million. I'm pleased that we modified our lending agreement with Tiger Finance, and we now have a much less restrictive covenant package. Our new agreement …