The Beachbody Company posted total revenues of $179.1 million for the second quarter, down by 20 percent year-on-year and 3 percent from pre-lockdown 2019. The Southern California digital fitness and nutrition company saw digital revenues of $78.0 million, up 17 percent, for the period. On the plus side, digital subscriptions increased by 16 percent from last year and 35 percent from 2019, reaching 2.28 million. Total streams, meanwhile, reached 31.0 million, down by 30 percent from last year, but up by 22 percent from 2019.
To “enhance” the company’s “financial flexibility,” Blue Torch Capital has agreed to provide Beachbody with $50 million in debt financing and an option to borrow another $25 million.
For the third quarter, Beachbody is projecting total revenues of $150 to $160 million and an adjusted EBITDA loss of $15 to $20 million.
