The Beachbody Company, Inc. Reiterates Fourth Quarter Fiscal 2022 Financial Outlook Ahead of Participation in the 2023 ICR Conference

Rhea-AI Summary

The Beachbody Company (NYSE: BODY) reiterated its fourth-quarter fiscal 2022 guidance, emphasizing strong progress in cost transformation and improved marketing ROI. CEO Carl Daikeler expressed confidence in future performance driven by solid liquidity and cost reductions. The company will participate in the 2023 ICR Conference on January 9, 2023, with a live webcast available on its investor relations website. Beachbody continues to innovate in the digital fitness and nutrition subscription market.

Positive

• Reiterated strong guidance for Q4 2022.
• Achieved positive returns on marketing spend.
• Enhanced liquidity position.

Negative

• Risks related to competition in the fitness and nutrition industries.
• Dependence on key products may impact future performance.

EL SEGUNDO, Calif.--(BUSINESS WIRE)-- The Beachbody Company, Inc. (NYSE: BODY) (the “Company” or “Beachbody”), a leading subscription health and wellness company, today reiterated guidance for the fourth quarter of fiscal 2022.

“We are pleased with the cost transformation progress that we have achieved thus far, putting a strong management team in place and delivering positive returns on marketing spend. Our market presence remains strong and we continue to generate demand through compelling content,” said Carl Daikeler, Beachbody’s Co-Founder, Chairman, and Chief Executive Officer. “We are extremely confident in the future of the business. Between our reinforced liquidity position and our cost reductions, we are on track to achieve our expected results.”

For the fourth quarter of 2022, the Company reiterates previously announced guidance during the Q3 earnings call.

2023 ICR Conference

Carl Daikeler, Co-Founder, Chairman and Chief Executive Officer, and Marc Suidan, Chief Financial Officer, will participate in a fireside chat at the 2023 ICR Conference to be held at the Grand Lakes, Orlando. The company is scheduled to present at 11:30 a.m. Eastern Time on Monday, January 9, 2023.

The audio portion of the fireside chat will be webcast live through the Investor Relations section of the Company’s website at https://investors.thebeachbodycompany.com/.

About The Beachbody Company, Inc.

Headquartered in Southern California, Beachbody is a leading digital fitness and nutrition subscription company with over two decades of creating innovative content and powerful brands. The Beachbody Company is the parent company of the Beachbody On Demand streaming platform (BOD), including its live digital streaming subscription BODi, and the Beachbody Bike powered by MYXfitness, the Company’s connected indoor bike. For more information, please visit TheBeachbodyCompany.com.

Forward Looking Statements: This press release contains “forward-looking” statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995, which are statements other than historical fact or in the future tense. These statements include but are not limited to, statements regarding projected revenue and earnings, our future performance and our market opportunity, as well as expected appearances at investor conferences and the occurrence of such events, our business strategy, our plans, and our objectives and future operations. You can identify these statements by the use of terminology such as “believe”, “plans”, “expect”, “will”, “should,” “could”, “estimate”, “anticipate” or similar forward-looking terms. You should not rely on these forward-looking statements as they involve risks and uncertainties that may cause actual results to vary materially from the forward-looking statements.

Forward-looking statements are based upon various estimates and assumptions, as well as information known to us as of the date hereof, and are subject to risks and uncertainties. Accordingly, actual results could differ materially due to a variety of factors, including: our ability to effectively compete in the fitness and nutrition industries; our ability to successfully acquire and integrate new operations; our reliance on a few key products; market conditions and global and economic factors beyond our control; intense competition and competitive pressures from other companies worldwide in the industries in which we operate; and litigation and the ability to adequately protect our intellectual property rights. For more information regarding the risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements, as well as risks relating to our business in general, we refer you to the “Risk Factors” section of our Securities and Exchange Commission (SEC) filings, including those risks and uncertainties included in the Form 10-K filed with the SEC on March 1, 2022 and quarterly reports on Form 10-Q, which are available on the Investor Relations page of the Beachbody website at https://investors.thebeachbodycompany.com and on the SEC website at www.sec.gov.

All forward-looking statements contained herein are based on information available to us as of the date hereof and you should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in the forward-looking statements may not be achieved or occur. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance, or achievements. We undertake no obligation to update any of these forward-looking statements for any reason after the date of this press release or to conform these statements to actual results or revised expectations, except as required by law. Undue reliance should not be placed on forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230109005327/en/

Investor Relations

ICR, Inc.

BeachbodyIR@icrinc.com

Source: The Beachbody Company, Inc.

FAQ

What is Beachbody's guidance for the fourth quarter of fiscal 2022?

Beachbody reiterated its guidance for Q4 2022, highlighting progress in cost transformation and strong marketing returns.

When will Beachbody present at the ICR Conference?

Beachbody will present at the 2023 ICR Conference on January 9, 2023, at 11:30 a.m. Eastern Time.

What financial metrics were highlighted in Beachbody's recent press release?

The press release emphasized strong marketing ROI and an enhanced liquidity position.

What are the risks mentioned in Beachbody's forward-looking statements?

Risks include competition in the fitness industry and reliance on key products, which could affect future performance.