Beachbody Company (BODI) AI Stock Analysis

• Market Cap: $84.00M
• Dividend Yield: N/A
• Average Volume (3M): 14.04K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.98
• Revenue Growth: -37.41%
• EPS Growth: 60.58%
• Country: US
• Employees: 355
• Sector: Communication Services
• Sector Strength: 97
• Industry: Internet Content & Information
• EPS (TTM): 0.71
• Shares Outstanding: 4,450,721
• 10 Day Avg. Volume: 16,626
• 30 Day Avg. Volume: 14,040
• PEG Ratio: 0.26
• Price to Book (P/B): 2.31
• Price to Sales (P/S): 0.29
• P/FCF Ratio: 4.16
• Enterprise Value/Market Cap: 0.83
• Enterprise Value/Revenue: 0.28
• Enterprise Value/Gross Profit: 0.38
• Enterprise Value/Ebitda: 2.73
• 1Y Price Target: $15.00
• Price Target Upside: 28.21% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): -0.73
• Revenue Forecast (FY): $222.23M

• Rating: 56 Neutral
• Price Target: $11.00 ▼(-5.98% Downside)
• Action: Reiterated Date: 03/12/26
• Date: Action: Reiterated 03/12/26

The score is driven primarily by improving financial health—stronger free cash flow and sharply reduced debt—plus constructive price trend signals. These positives are constrained by continuing revenue declines (also echoed in the earnings call) and weak earnings-based valuation given the negative P/E.

Positive Factors

Improved cash generation

Material shift to positive free cash flow meaningfully reduces refinancing risk and funds growth initiatives. Durable cash generation supports reinvestment in marketing, content and retail rollout, improving long-term funding quality if the company sustains these operating cash levels.

Sharply lower leverage

Much lower debt materially reduces financial risk and interest burden, increasing flexibility for strategic investments and covenant headroom. A healthier leverage profile lasting through cycles improves capacity to execute omnichannel expansion without heavy refinancing.

High gross margins & improving profitability

Sustained high gross margins and consecutive positive adjusted EBITDA indicate strong unit economics in digital and nutrition lines. Combined with recent positive net income, this supports margin resilience and the ability to return to durable profitability as revenue stabilizes.

Negative Factors

Multi-year revenue contraction

Steep, multi-year top-line declines erode scale benefits, limit marketing ROI, and make fixed-cost absorption harder. Even with better margins and cash, sustained revenue deterioration threatens long-term profitability and the economics of retail and product investments.

Declining core engagement and product sales

Falling subscriptions and sharply lower nutrition sales weaken recurring revenue and replenishment dynamics. This reduces lifetime value per customer and raises acquisition payback periods, complicating the path to durable growth even with margin strength.

Profitability not yet durable; weak ROE

Although recent results improved, prior multi-year losses and negative ROE indicate the company hasn't consistently converted equity into returns. If top-line pressures persist, improved cash and low debt may not translate into sustained shareholder returns over the medium term.

Beachbody Company Business Overview & Revenue Model

Company Description

The Beachbody Company, Inc. operates as a subscription health and wellness company that provides fitness, nutrition, and stress-reducing programs in the United States and internationally. The company operates Beachbody on Demand, a digital subscription platform that provides access to a library of live and on-demand fitness and nutrition content; and Beachbody on Demand Interactive (BODi) for live fitness and nutrition programs. It also offers nutritional products, such as Shakeology, a nutrition shake; Beachbody Performance supplements comprising pre-workout energize, hydrate, post-workout recover, and protein supplement recharge products; BEACHBAR, a low-sugar snack bar; supplements under the LADDER brand; connected fitness products; and BODi Bike Studio, a package subscription to BODi with a bike and accessories. The Beachbody Company, Inc. was founded in 1998 and is headquartered in El Segundo, California.

How the Company Makes Money

The Beachbody Company makes money primarily through (1) recurring subscriptions to its digital fitness platform and (2) sales of nutrition products and supplements. Subscriptions generate revenue from members who pay periodically (e.g., monthly or annually, depending on the plan offered) for access to a library of workout programs, training plans, and related wellness content delivered via apps/streaming. Nutrition revenue is generated from product sales such as branded shakes, supplements, and other consumables, typically sold direct-to-consumer online; because these items are replenishable, they can contribute repeat purchase revenue. The company has also historically generated revenue via a partner/coach network that promotes subscriptions and products; in that model, revenue comes from end-customer purchases while the company pays commissions/incentives to partners, affecting net revenue and margins. If applicable in the period being analyzed, other revenue can include one-time purchases/digital rentals of specific programs or bundles and shipping/handling or similar customer charges; if the company no longer offers these or they are not material, then the relevant contribution is null.

Beachbody Company Financial Statement Overview

Summary

Financials show a meaningful 2025 improvement in funding quality and leverage (free cash flow turned strongly positive and debt fell sharply), supported by strong gross margin. However, multi-year revenue contraction and only near break-even profitability limit confidence in durability.

Income Statement

Profitability has improved sharply in the latest annual period (2025), moving from deep losses in 2022–2024 to near break-even (net margin about -1%) with positive EBITDA (about 2%). Gross margin remains strong (~73% in 2025), suggesting a solid unit economics profile. However, the top line is shrinking meaningfully (revenue down ~11% in 2025 after declines in prior years), and the company has not yet demonstrated consistent, durable profitability.

Balance Sheet

Leverage has improved substantially: total debt fell to ~$2.8M in 2025 from ~$22.5M in 2024, bringing debt relative to equity down to ~0.09x, which meaningfully reduces financial risk. Equity is still positive (~$31.3M), but it has come down significantly versus earlier years, and returns on equity remain negative due to ongoing net losses—indicating the balance sheet is healthier on debt, but not yet generating attractive shareholder returns.

Cash Flow

Cash generation improved materially in 2025: operating cash flow rose to ~$21.8M and free cash flow turned strongly positive (~$17.4M) after negative free cash flow in 2023–2024. This is a clear positive shift in funding quality and liquidity. The main watch item is consistency—recent years included meaningful cash burn, so the durability of positive cash flow through the cycle still needs to be proven.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	251.73M	418.80M	527.11M	692.20M	873.64M
Gross Profit	183.78M	287.34M	323.09M	369.57M	544.98M
EBITDA	25.56M	-38.36M	-80.40M	-94.75M	-183.79M
Net Income	-2.86M	-71.64M	-152.64M	-194.19M	-228.38M
Balance Sheet
Total Assets	147.03M	174.56M	276.84M	443.39M	637.61M
Cash, Cash Equivalents and Short-Term Investments	39.02M	20.19M	33.31M	80.09M	104.05M
Total Debt	25.40M	22.48M	32.82M	46.45M	7.13M
Total Liabilities	115.72M	146.39M	194.08M	231.85M	252.23M
Stockholders Equity	31.32M	28.17M	82.76M	211.54M	385.38M
Cash Flow
Free Cash Flow	17.35M	-1.98M	-29.11M	-73.67M	-293.16M
Operating Cash Flow	21.75M	2.56M	-22.54M	-47.17M	-215.25M
Investing Cash Flow	-4.40M	1.06M	-10.83M	-26.49M	-125.19M
Financing Cash Flow	1.03M	-15.87M	-13.72M	47.56M	390.65M

Beachbody Company Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 11.70
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BODI, the sentiment is Positive. The current price of 11.7 is above the 20-day moving average (MA) of 8.92, above the 50-day MA of 9.74, and above the 200-day MA of 7.01, indicating a bullish trend. The MACD of 0.51 indicates Negative momentum. The RSI at 67.12 is Neutral, neither overbought nor oversold. The STOCH value of 80.17 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BODI.

Beachbody Company Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
BODI	56 Neutral	$84.00M	-25.25	-175.73%	―	-37.41%	60.58%
NXDR	51 Neutral	$573.83M	-14.97	-12.56%	―	6.65%	50.32%
CCG	50 Neutral	$63.85M	-8.99	-9.17%	―	105.31%	95.66%
ZH	49 Neutral	$261.56M	-15.44	2.48%	―	-23.61%	―
UPXI	44 Neutral	$74.20M	-0.14	-139.91%	―	―	―
SEAT	43 Neutral	$68.47M	-0.03	-51.54%	―	-16.83%	-485.31%

Beachbody Company Corporate Events

Beachbody amends credit agreement to boost financial flexibility

On January 7, 2026, BODi amended its credit agreement with Tiger Finance, revising key financial covenants to increase minimum liquidity, remove a cap on capital expenditures, reduce required digital subscriptions, and introduce a billings fixed charge coverage ratio that is only tested during defined covenant testing periods. The new structure, under which most covenants are not tested when cash balances exceed a set threshold and the earliest potential interest-rate step-down is deferred to the period ending December 31, 2026, is designed to materially enhance the company’s financial flexibility as it shifts from restructuring to growth initiatives in 2026. Executives said the less restrictive terms reflect improved liquidity and operational performance, highlighted by eight consecutive quarters of positive adjusted EBITDA and a September 30, 2025 cash balance of $34 million exceeding its $25 million debt, positioning BODi to pursue retail expansion and an innovation pipeline while maintaining financial discipline.

The most recent analyst rating on (BODI) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Beachbody Company stock, see the BODI Stock Forecast page.