Beachbody Company (BODI) Company Report

Tiger Finance has amended its existing credit facility with The Beachbody Company, Inc. (BODi).
The amendment provides BODi with enhanced financial flexibility to execute growth strategies and capitalize on new revenue opportunities in 2026.
This revision by Tiger Finance acknowledges BODi's strengthened liquidity position and improved financial performance, as BODi transitions from financial restructuring.

1 day ago

Press Release

The Body Company Reports Successful Turnaround and Strategic Shift

BODI

Product Launch

New Projects/Investments

Guidance Update

The Body Company (BODI) has completed a significant financial turnaround, reducing its cash break-even level by $720 million from $900 million to $180 million.
The company achieved eight consecutive quarters of positive adjusted EBITDA, totaling approximately $50 million, and became net income positive in Q3 2025 with over $3 million.
BODI has transitioned from a Multi-Level Marketing (MLM) model (discontinued in Q4 2024) to a multi-channel strategy, including a new retail line launch in Q1 and Q2 2026 for key brands like P90X, Insanity, and Shakeology.
The company's financial health has improved, with $34 million in cash exceeding $25 million in debt as of September 30th (Q3 2025), and a 44% reduction in interest expense due to debt restructuring.

Jan 12, 2026, 4:30 PM

Transcript

BODi (formerly The Beachbody Company) Announces Turnaround Completion and New Strategic Initiatives

BODI

Revenue Acceleration/Inflection

Product Launch

New Projects/Investments

BODi (formerly The Beachbody Company) has completed a significant turnaround, achieving net income positive in Q3 2025 for the first time since going public and reporting eight consecutive quarters of positive adjusted EBITDA totaling approximately $50 million.
The company drastically reduced its cash break-even level by $720 million to $180 million and improved free cash flow to positive $13.1 million in the first three quarters of 2025, while restructuring its $25 million debt and holding a $34 million cash position as of September 30th.
BODi has transitioned from a multi-level marketing model (phased out in Q4 2024) to a multi-channel strategy, including a significant push into retail for its core brands like P90X, Insanity, and Shakeology, which will be sold in grocery, drug, mass merchant, c-stores, and club stores starting in Q1 and Q2 2026.
New product launches for 2026 include the 10-Minute BODi program and P90X Generation Next, alongside new nutritional supplements and smaller-serve Shakeology products for the retail market.

Jan 12, 2026, 4:30 PM

Transcript

Beachbody Company (BODI) Reports Successful Turnaround and Outlines 2026 Growth Strategy

BODI

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

The Beachbody Company (BODI) has successfully completed its turnaround, reducing its cash break-even level from $900 million to $180 million and achieving eight consecutive quarters of positive adjusted EBITDA, totaling approximately $50 million.
The company became net income positive in Q3 2025 for the first time since going public, reporting $3 million in net income for the quarter and $13.1 million in positive free cash flow year-to-date Q3 2025.
BODI has transitioned from a multi-level marketing model (discontinued in Q4 2024) to a multi-channel strategy, including a significant retail launch in Q1 and Q2 2026 for its key brands like P90X, Insanity, and Shakeology.
As of September 30th, the company holds a $34 million cash position, exceeding its $25 million debt level, and has reduced its overall interest expense by 44%.

Jan 12, 2026, 4:30 PM

Transcript

BODi Amends Credit Agreement to Enhance Financial Flexibility

BODI

Debt Issuance

New Projects/Investments

The Beachbody Company, Inc. (BODi) amended its credit agreement with Tiger Finance, LLC, on January 7, 2026, to enhance its financial flexibility.
Key changes include the elimination of the maximum capital expenditure covenant, an increase in the minimum liquidity level from $12,000,000 to $15,000,000, and a reduction in the minimum digital subscriptions covenant from 850,000 to 700,000.
The amendment also provides for potential interest rate reductions, with the first opportunity for rates to decrease starting December 31, 2026, from the one-month SOFR Rate plus 9.00% to 7.75%.
As of September 30, 2025, BODi's cash position was $34 million, exceeding its $25 million debt level by $9 million.

Jan 8, 2026, 9:32 PM

8-K

BODi Amends Credit Agreement

BODI

Debt Issuance

New Projects/Investments

BODi has amended its credit agreement with Tiger Finance, LLC, which significantly enhances the company's financial flexibility through adjusted covenant terms.
The amendment streamlines the financial covenant structure and modifies certain financial covenants, including those related to digital subscriptions and total billings, with most covenants not requiring testing if the company's cash balance is above a specific threshold.
As of September 30, 2025, BODi reported a strong financial position with a cash balance of $34 million, exceeding its $25 million debt level by $9 million.
This amendment supports BODi's growth strategies, including a comprehensive retail initiative and innovation pipeline, building on eight consecutive quarters of positive adjusted EBITDA.

Jan 8, 2026, 9:30 PM

Press Release

BODi Reports Financial Turnaround and Outlines 2026 Growth Strategy

BODI

Product Launch

Revenue Acceleration/Inflection

New Projects/Investments

The Beachbody Company (BODI) has completed a significant financial turnaround, reporting $49 million of cumulative EBITDA over the last eight quarters and its first positive net income quarter in Q3 2025 with $3.6 million.
The company transitioned from a multi-level marketing (MLM) model, eliminating its MLM business in Q4 2024, and is now an omnichannel company with a significantly reduced break-even level of $180 million from a former $900 million.
BODi is launching a virtual Consumer Packaged Goods (CPG) company in Q1 2026, introducing P90X, Insanity, and Shakeology nutritional products to retail, alongside new fitness programs including a major initiative targeting 185 million overweight Americans in late December 2025.
The company has a strong balance sheet with $34 million in cash and $25 million in debt, having refinanced its debt at a lower effective cash rate of 13.4%.

Dec 10, 2025, 9:00 PM

Transcript

BODi Reports Financial Turnaround and Outlines 2026 Growth Strategy

BODI

Earnings

Product Launch

New Projects/Investments

BODi reported its first positive net income quarter in Q3 2025 with $3.6 million, marking a significant financial turnaround after being EBITDA positive for eight consecutive quarters.
The company has strengthened its balance sheet, holding $34 million in cash against $25 million in debt, and has drastically reduced its break-even level from $900 million to $180 million.
Following the elimination of its multi-level marketing (MLM) business in Q4 2024, BODi is now an omnichannel company, poised for growth with a virtual CPG launch in Q1 2026 and new P90X and Insanity nutritional products and fitness programs throughout 2026.
New initiatives include a major fitness program launching in December 2025 targeting 185 million overweight Americans and a Reebok partnership to expand content reach.

Dec 10, 2025, 9:00 PM

Transcript

BODi Reports Financial Turnaround and Outlines Growth Strategy

BODI

Product Launch

New Projects/Investments

Revenue Acceleration/Inflection

The Beachbody Company (BODi) has achieved a significant financial turnaround, reporting $17.9 million of EBITDA year-to-date for the nine months of 2025, $13.1 million of positive free cash flow year-to-date, and its first positive net income quarter in Q3 2025 with $3.6 million.
The company has re-architected its business model, eliminating its multi-level marketing (MLM) structure in Q4 2024 and lowering its break-even level from $900 million to $180 million.
BODi is launching new P90X and Insanity exercise programs, a line of nutritional products for retail in Q1 2026, and a major new fitness initiative targeting the 185 million Americans who are overweight.
The company refinanced its debt, reducing the effective cash rate to 13.4%, and now holds $34 million in cash against $25 million in debt. It has also built significant operating leverage, reducing marketing expense as a percentage of sales and enabling potential profit doubling with a 25% sales increase.

Dec 10, 2025, 9:00 PM

Transcript

BODi Reports First Net Income Since IPO, Outlines 2026 Growth Strategy

BODI

Earnings

Guidance Update

New Projects/Investments

BODi reported its first quarter of positive net income since going public in 2021, reaching $3.6 million in Q3 2025, alongside $9.5 million in adjusted EBITDA, marking the eighth consecutive quarter of positive adjusted EBITDA.
The company generated $13.1 million in free cash flow year-to-date, with $9 million contributed in Q3 2025, and holds a cash position of $33.9 million, exceeding its $25 million outstanding debt.
BODi has significantly reduced its revenue break-even point from approximately $900 million in 2022 to $180 million today, reflecting a successful financial restructuring and strategic pivot away from a multi-level marketing (MLM) model to an omnichannel approach.
Looking ahead to 2026, BODi plans a comprehensive retail initiative, including the launch of Shakeology, P90X, and Insanity nutritional supplements in new channels, a new P90X fitness program, and digital innovations such as transitioning to Shopify Plus and integrating with ChatGPT.
For Q4 2025, the company expects revenues between $50 million and $57 million, net income between negative $1 million and positive $3 million, and adjusted EBITDA between $5 million and $9 million.