Beachbody Company (BODI) AI Stock Analysis

• Market Cap: $69.96M
• Dividend Yield: N/A
• Average Volume (3M): 14.04K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.07
• Revenue Growth: -37.41%
• EPS Growth: 60.58%
• Country: US
• Employees: 355
• Sector: Communication Services
• Sector Strength: 97
• Industry: Internet Content & Information
• EPS (TTM): 0.51
• Shares Outstanding: 4,359,034
• 10 Day Avg. Volume: 16,626
• 30 Day Avg. Volume: 14,040
• PEG Ratio: 0.01
• Price to Book (P/B): 1.49
• Price to Sales (P/S): 0.10
• P/FCF Ratio: -21.18
• Enterprise Value/Market Cap: 0.35
• Enterprise Value/Revenue: 0.09
• Enterprise Value/Gross Profit: 0.12
• Enterprise Value/Ebitda: -3.37
• 1Y Price Target: $12.00
• Price Target Upside: 21.58% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: $10.00 ▲(1.32% Upside)

The score is held down primarily by weak financial statement quality—declining revenues, past losses, leverage, and stressed cash-flow metrics. Offsetting that, the latest earnings call and recent financing covenant changes point to improved liquidity/operational traction, while technicals are neutral-to-mildly positive and valuation signals are inconclusive due to a negative P/E and no dividend.

Positive Factors

High Gross Margins

Sustained high gross margins—especially digital at 88.1%—reflect a scalable, low-variable-cost content business. Durable margin advantage supports long-term profitability and cash generation as subscriptions or retail channels scale, cushioning operating leverage risks.

Lower Breakeven Point

An 80% reduction in the revenue breakeven point materially lowers the revenue required for sustained profitability. This structural improvement in cost base and operating leverage allows the company to remain profitable at far lower top-line levels, reducing growth dependency.

Improved Financial Flexibility

Credit agreement amendments that raise minimum liquidity and relax covenant testing provide durable financing flexibility. With cash exceeding debt and fewer frequent tests, the company gains runway to execute retail expansion and product investment without imminent refinancing pressure.

Negative Factors

Declining Revenues and Subscriptions

Significant, persistent declines in overall revenue and subscription counts undermine the core recurring revenue model. This structural erosion reduces predictability of cash flows, increases customer-acquisition needs, and forces reliance on unproven retail and product channels to restore long-term growth.

Elevated Leverage

High leverage combined with negative ROE magnifies downside risk and limits strategic flexibility. Elevated debt burdens increase interest and refinancing risk, constraining the firm's ability to invest in content, marketing, or retail rollout if revenue recovery is slower than planned.

Weak Cash-Flow History

Severely negative FCF growth and weak cash conversion indicate durable cash-generation problems. Despite recent quarterly improvements, the historical volatility in free cash flow undermines the firm's capacity to fund expansion, sustain marketing investment, or absorb shocks without external capital.

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

Beachbody generates revenue primarily through its subscription model, where customers pay for access to the BODi streaming service. This subscription provides users with a comprehensive suite of fitness programs and nutritional resources. In addition to subscription fees, the company earns revenue from the sale of its nutritional products, including protein powders, meal replacement shakes, and dietary supplements. Beachbody also capitalizes on partnerships with fitness trainers and influencers who promote its products and programs, enhancing its reach and customer acquisition. Furthermore, the company occasionally organizes fitness challenges and events, which can also contribute to its earnings.

Beachbody Company Financial Statement Overview

Summary

Beachbody Company is facing significant financial challenges across all verticals. The income statement shows declining revenues and persistent losses. The balance sheet reflects increased leverage and negative returns on equity. Cash flow metrics indicate severe cash flow issues, raising concerns about the company's ability to sustain operations without strategic changes.

Income Statement

The company has experienced a significant decline in revenue over the past years, with a TTM revenue growth rate of -13.02%. Gross profit margins have been relatively stable but are overshadowed by negative net profit margins, indicating ongoing losses. The EBIT and EBITDA margins are also negative, reflecting operational challenges.

Balance Sheet

The balance sheet shows a high debt-to-equity ratio of 1.29 in the TTM period, indicating increased leverage. The return on equity is negative, suggesting that the company is not generating profit from its equity base. The equity ratio has decreased over time, reflecting a potential risk in financial stability.

Cash Flow

Cash flow analysis reveals a negative free cash flow growth rate of -281.80% in the TTM period, indicating cash flow challenges. The operating cash flow to net income ratio is low, suggesting inefficiencies in converting income into cash. The free cash flow to net income ratio is negative, highlighting cash flow issues relative to net losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	282.56M	418.80M	527.11M	692.20M	873.64M	863.58M
Gross Profit	203.31M	287.34M	323.09M	369.57M	544.98M	613.88M
EBITDA	-7.35M	-38.36M	-80.40M	-94.75M	-183.79M	38.62M
Net Income	-42.64M	-71.64M	-152.64M	-194.19M	-228.38M	-21.43M
Balance Sheet
Total Assets	146.41M	174.56M	276.84M	443.39M	637.61M	356.25M
Cash, Cash Equivalents and Short-Term Investments	33.95M	20.19M	33.31M	80.09M	104.05M	56.83M
Total Debt	2.56M	22.48M	32.82M	46.45M	7.13M	41.62M
Total Liabilities	121.72M	146.39M	194.08M	231.85M	252.23M	257.00M
Stockholders Equity	24.69M	28.17M	82.76M	211.54M	385.38M	99.26M
Cash Flow
Free Cash Flow	5.77M	-1.98M	-29.11M	-73.67M	-293.16M	23.50M
Operating Cash Flow	10.04M	2.56M	-22.54M	-47.17M	-215.25M	61.43M
Investing Cash Flow	-4.27M	1.06M	-10.83M	-26.49M	-125.19M	-46.69M
Financing Cash Flow	-3.55M	-15.87M	-13.72M	47.56M	390.65M	165.00K

Beachbody Company Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 9.87
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BODI, the sentiment is Neutral. The current price of 9.87 is below the 20-day moving average (MA) of 10.67, above the 50-day MA of 8.71, and above the 200-day MA of 5.86, indicating a neutral trend. The MACD of 0.21 indicates Positive momentum. The RSI at 48.80 is Neutral, neither overbought nor oversold. The STOCH value of 53.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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%
NXDR	58 Neutral	$807.74M	-12.70	-14.07%	―	6.65%	50.32%
CCG	52 Neutral	$67.76M	-7.52	―	―	105.31%	95.66%
BODI	50 Neutral	$69.96M	-1.59	-102.66%	―	-37.41%	60.58%
ZH	48 Neutral	$301.88M	21.32	2.39%	―	-23.61%	―
SEAT	46 Neutral	$105.24M	-0.30	-51.54%	―	-16.83%	-485.31%
UPXI	45 Neutral	$140.95M	-0.63	50.68%	―	―	―

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.