The Beachbody Company, Inc. (BODi) announced its financial results for the third quarter ended September 30, 2024. The company reported revenue of $102.2 million, which represents a 20% decrease compared to the prior year's third quarter. This revenue figure lagged analyst estimates, indicating ongoing challenges during the company's business model transition.
Despite the revenue decline, BODi achieved its fourth consecutive quarter of positive Adjusted EBITDA. This metric highlights the company's efforts to improve operational efficiency and control costs as it moves away from its legacy Multi-Level Marketing structure.
The third quarter results reflect the company's strategic re-architecture, which was nearing completion by the end of 2024. Investors are closely monitoring these financial reports to understand the impact of the pivot to a single-level affiliate model and its effect on top-line growth and profitability.
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