The Beachbody Company, now known as BODi, reported its financial results for the fourth quarter and full year 2024. Total revenue in the fourth quarter was $86.4 million, down from $119 million in Q4 2023. Of this total, digital revenue accounted for $50.4 million, down from $64 million year-over-year, with a total of 1.07 million digital subscriptions. Revenue within the Nutrition and Other category was $34.8 million, compared to $51.8 million in the same period last year, and Connected Fitness was $1.2 million, down from $3.2 million year-over-year. Approximately 2,700 bikes were delivered in the fourth quarter.
Operating loss during the quarter decreased to $32.9 million from $60.4 million last year. Adjusted EBITDA during the fourth quarter was $8.7 million, compared to $2.8 million in Q4 2023.
Total revenue for the year 2024 was $418.8 million, down from $527.1 million in 2023. Of this total:
- Digital revenue was $224.3 million, down from $258.4 million in 2023
- Nutrition and Other revenue was $187.8 million, down from $249.5 million in 2023
- Connected Fitness was $6.6 million, down from $19.2 million in 2023. Approximately 9,000 bikes were delivered in 2024.
Total operating loss in 2024 was $66.2 million, compared to an operating loss of $141 million in 2023. Adjusted EBITDA was $28.3 million, compared to a loss of $8.7 million in 2023.
The company ended the year with cash provided by operating activities totaling $2.6 million, compared to cash used in operating activities of $22.5 million in 2023. Cash provided by investing activities was $1.1 million, compared to cash used in investing activities of $10.8 million in 2023.
Forecasts for first quarter 2025 revenue now range between $60-$70 million.
“2024 was a pivotal year at BODi, as we continued to build upon our strategy to transform the company,” said Carl Daikeler, BODi’s Co-Founder and Chief Executive Officer. “Our turnaround plan successfully streamlined our digital platform, lowering our breakeven point and enhancing our liquidity position. We generated higher margin revenue streams and achieved positive operating cash flows while successfully rearchitecting the company from a Multi-Level Marketing network to a single level affiliate model. As we move into 2025, we have laid the foundation to execute the next phase of our turnaround which will maximize our market opportunities, and continue to generate positive operating cash flow through our multi-channel strategy and new innovative products.”
