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Beachbody Company
(NASDAQ:BODI)
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Rating:57Neutral
Price Target:
$5.00
▼(-14.38% Downside)
Action:Reiterated
Date:08/18/26
BODI scores as a moderate-risk turnaround: improved profitability and materially lower leverage lift the financial score, and the very low P/E supports valuation. These positives are tempered by persistent revenue contraction and weakening/free-cash-flow pressure discussed on the earnings call, while the technical picture remains decisively bearish with the stock trading well below major moving averages.
Positive Factors
Sustained profitability and strong margins
Repeated adjusted EBITDA profitability and positive net income indicate that cost discipline is translating into operating earnings, while high gross margins preserve room to fund marketing and product investment. Maintaining this performance would make the turnaround more durable despite ongoing revenue pressure.
Negative Factors
Persistent revenue and subscriber contraction
The simultaneous decline in total revenue and digital subscribers shows that the legacy customer base is still shrinking faster than new channels are replacing it. Prolonged contraction can weaken recurring revenue scale, reduce operating leverage, and make the recent profitability improvement harder to sustain.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained profitability and strong margins
Repeated adjusted EBITDA profitability and positive net income indicate that cost discipline is translating into operating earnings, while high gross margins preserve room to fund marketing and product investment. Maintaining this performance would make the turnaround more durable despite ongoing revenue pressure.
Read all positive factors
Beachbody Company (BODI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$34.31M
Dividend YieldN/A
Average Volume (3M)23.23K
Price to Earnings (P/E)2.7
Beta (1Y)0.92
Revenue Growth-32.49%
EPS GrowthN/A
CountryUS
Employees270
SectorCommunication Services
Sector Strength97
IndustryInternet Content & Information
Share Statistics
EPS (TTM)1.76
Shares Outstanding4,555,733
10 Day Avg. Volume14,060
30 Day Avg. Volume23,227
Financial Highlights & Ratios
PEG Ratio0.26
Price to Book (P/B)2.31
Price to Sales (P/S)0.29
P/FCF Ratio4.16
Enterprise Value/Market Cap2.01
Enterprise Value/Revenue0.31
Enterprise Value/Gross Profit0.43
Enterprise Value/Ebitda2.21
Forecast
1Y Price Target
$17.00Price Target Upside191.10% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.05
Revenue Forecast (FY)$210.54M
Beachbody Company Business Overview & Revenue Model
Company Description
The Beachbody Co., Inc. operates as a health and wellness company. It offers holistic health and wellness platforms. The company's product offerings include digital subscriptions, nutritional products, and connected fitness products. Digital subsc...
How the Company Makes Money
The company primarily makes money through (1) digital subscription revenue for access to its streaming fitness and wellness content and platform features, and (2) product revenue from selling nutrition products and supplements. Subscription revenu...
Beachbody Company Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 16, 2026
Earnings Call Sentiment Neutral
The call presents a mixed but constructive picture: the company delivered continued profitability and margin discipline (11th consecutive positive adjusted EBITDA, four consecutive quarters of net income and operating income), completed strategic moves (Shopify migration, Amazon and retail listings, new product launches) and secured more flexible credit covenants. Offsetting those positives are meaningful year-over-year revenue declines (-22.4%), digital subscriber decline (-19.1% YoY), a negative free cash flow profile driven by inventory build for retail, and near-term cautious guidance while the business transitions from its legacy MLM model to a nutrition-led omnichannel model. Overall, the operational and financial discipline plus clear go-to-market initiatives provide a constructive foundation, but the company still faces near-term top-line and cash-flow headwinds as it executes the retail and channel expansion.Positive Updates
Revenue Above Guidance
Total Q2 revenue of $49.6M came in above the midpoint of guidance ($46M-$51M).
Negative Updates
Year-over-Year Revenue Decline
Total Q2 revenue decreased 22.4% year-over-year and decreased 8.6% sequentially, reflecting near-term impacts of the shift from the legacy MLM model to an omnichannel approach.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Above Guidance
Total Q2 revenue of $49.6M came in above the midpoint of guidance ($46M-$51M).
Read all positive updates
Company Guidance
For Q3 2026 management guided revenue of $44.0M–$48.0M, net income of negative $3.0M to breakeven, and adjusted EBITDA of $3.0M–$6.0M; they expect the mix to be roughly 60% Digital / 40% Nutrition & Other, with Digital gross margin targeted at 86%–88%, Nutrition & Other gross margin at 42%–45%, and consolidated gross margin of 68%–71%, noting Q3 is the first quarter fully comparable year‑over‑year post‑MLM wind‑down and reiterating an expected shift to a larger Nutrition mix (and associated margins) by the end of 2026.Beachbody Company Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
70
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 219.32M | 251.73M | 418.80M | 527.11M | 692.20M | 873.64M |
| Gross Profit | 159.87M | 183.78M | 287.34M | 323.09M | 369.57M | 544.98M |
| EBITDA | 31.22M | 19.80M | -17.41M | -80.40M | -94.75M | -183.79M |
| Net Income | 12.46M | -2.86M | -71.64M | -152.64M | -194.19M | -228.38M |
Balance Sheet | ||||||
| Total Assets | 136.51M | 147.03M | 174.56M | 276.84M | 443.39M | 637.61M |
| Cash, Cash Equivalents and Short-Term Investments | 36.64M | 38.92M | 20.19M | 33.31M | 80.09M | 104.05M |
| Total Debt | 24.87M | 25.40M | 22.48M | 32.82M | 46.45M | 7.13M |
| Total Liabilities | 99.32M | 115.72M | 146.39M | 194.08M | 231.85M | 252.23M |
| Stockholders Equity | 37.19M | 31.32M | 28.17M | 82.76M | 211.54M | 385.38M |
Cash Flow | ||||||
| Free Cash Flow | 5.10M | 17.35M | -1.98M | -29.11M | -73.67M | -293.16M |
| Operating Cash Flow | 8.43M | 21.75M | 2.56M | -22.54M | -47.17M | -215.25M |
| Investing Cash Flow | -3.33M | -4.40M | 1.06M | -10.83M | -26.49M | -125.19M |
| Financing Cash Flow | -314.00K | 1.03M | -15.87M | -13.72M | 47.56M | 390.65M |
Beachbody Company Technical Analysis
Negative
5.84
Price Trends
6.07
Negative
8.16
Negative
9.54
Negative
Market Momentum
-0.36
Negative
35.57
Neutral
36.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BODI, the sentiment is Negative. The current price of 5.84 is above the 20-day moving average (MA) of 4.83, below the 50-day MA of 6.07, and below the 200-day MA of 9.54, indicating a bearish trend. The MACD of -0.36 indicates Negative momentum. The RSI at 35.57 is Neutral, neither overbought nor oversold. The STOCH value of 36.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BODI.
Beachbody Company Risk Analysis
Beachbody Company disclosed 76 risk factors in its most recent earnings report. Beachbody Company reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
The number of shares of our Class A common stock available for future issuance or resale could adversely affect the market price of our Class A common stock. Q4, 2023
2.
You may experience future dilution as a result of future equity offerings or other equity issuances. Q4, 2023
3.
The price of shares of our Class A common stock may experience volatility. Q4, 2023
Beachbody Company Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $2.41B | 29.68 | 14.46% | 0.84% | 9.82% | 15.96% | |
72 Outperform | $9.08B | 21.61 | 13.14% | ― | 12.69% | 75.05% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
58 Neutral | $2.25B | 35.78 | -20.60% | ― | -1.80% | ― | |
57 Neutral | $34.31M | 2.68 | 39.07% | ― | -32.49% | ― | |
56 Neutral | $3.62B | 16.26 | -53.58% | 13.89% | 12.70% | 31.61% | |
43 Neutral | $243.78M | -3.37 | 15.21% | ― | -8.94% | 16.41% |
* Communication Services Sector Average
BODI
Beachbody Company
4.73
-0.67
-12.41%
PLNT
Planet Fitness
47.89
-44.78
-48.32%
OSW
OneSpaWorld Holdings
23.88
3.59
17.71%
PTON
Peloton Interactive
5.14
-2.23
-30.26%
XPOF
Xponential Fitness
4.81
-2.59
-35.00%
LTH
Life Time Group Holdings
40.37
14.99
59.06%
Beachbody Company Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Beachbody Company Amends Credit Agreement to Boost Flexibility
Positive
Aug 6, 2026
On August 3, 2026, The Beachbody Company, Inc., operating as BODi, amended its credit agreement with Tiger Finance to streamline financial covenants and adjust key thresholds tied to cash, liquidity and digital subscriptions. The amendment lowered...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.