WW - The Beachbody Company (NYSE: BODI) Reports Achieving Positive Turnaround In Revenue EBITDA And Cash Flow In Q1 2024 | Benzinga
Subscription health and fitness firm The Beachbody Company, Inc (NYSE:BODI) saw a significant turnaround in its financial results for the first quarter ending March 31, reporting higher revenue and adjusted EBITDA compared to the previous quarter as well as the first positive free cash flow quarter since 2020.
Positive Financial Metrics
The company, which now goes by BODi, reported a total revenue of $120 million for the first quarter, exceeding the midpoint of guidance. While revenue was down around 17% from $144.9 million in the same period of 2023, the figure grew from $119 million in the previous quarter – representing the first quarter-on-quarter revenue growth since 2021.
BODi's increase in revenue compared to the previous quarter was driven by a more than 7% increase in revenue from its Nutrition & Other segment, while the Digital and Connected Fitness segments saw slight dips in revenue over the same period.
A key highlight for the quarter was the company's first positive free cash flow since 2020, which was $7.4 million, compared to negative $11.3 million in the first quarter of 2023. BODi said it generated $9.1 million ...