The Beachbody Company, now known as BODi, announced financial results for the first quarter of 2025. Total revenue was $72.4 million compared to $120.0 million in the prior year period. Of this total, digital revenue accounted for $42.9 million, down from $61.5 million in the prior year perios, with a total of 1.02 million digital subscriptions in the first quarter. Revenue within the Nutrition and Other category was $28.7 million, compared to $55.5 million in the same period last year, and Connected Fitness was $0.8 million, down from $3 million in the prior year period. Approximately 1500 bikes were delivered in the first quarter.
Total operating expenses were $55.2 million compared to $92.1 million in the prior year period. Operating loss during the quarter improved by $7.1 million to $3.7 million compared to an operating loss of $10.8 million in the prior year period. Adjusted EBITDA1 was $3.7 million, compared to $4.6 million in the prior year period.
“Our first quarter results mark our first full quarter in our new business model and we are pleased to have exceeded our expectations. We continue to generate higher margin revenue streams, with first quarter gross margins at their highest level in five years. We have made significant progress in broadening our go to market strategy, opening new channels of distribution that were not previously available to us. This multi-channel opportunity will allow us to reach more of our addressable market while leveraging our cost structure,” said Carl Daikeler, BODi Co-Founder and Chief Executive Officer.
“In addition, we are thrilled to announce a new lending agreement with Tiger Finance for a $25 million, 3-year committed loan facility that we executed on May 13, 2025. This financing allowed us to retire $17.3 million of outstanding debt on May 13, 2025 while also adding approximately $5 million of capital to our balance sheet. We are excited about our new partner Tiger Finance and their conviction with the BODi business plan over the next three years. While we are pleased with our first quarter results, 2025 will be a transition year for the company and it will take time for our strategic initiatives to take hold. However, with our new business model in place, I am very excited about the opportunities to optimize our top-line potential, positioning us for long-term success,” concluded Carl Daikeler.
