BODY - Beachbody Company slides after warning on softer at-home fitness demand

Beachbody Company (NYSE:BODY) slumps after posting disappointing Q3 results. The retailer points to several external factors, including softer at-home fitness demand as consumers grew tired of social distancing and a challenging media environment that did not meet our disciplined ROI requirements. Those trends also lined up with a short delay in product launches from September to October. Looking ahead, BODY sees full-year revenue of $820M to $830M and adjusted EBITDA of -$110M to -$100M. Shares of BODY are down 22.29% following the earnings report and guidance update.

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Beachbody Company slides after warning on softer at-home fitness demand