According to Carl Daikeler, Co-Founder and CEO of BODi, the first quarter was the company’s first full cycle under its updated business model. He shared that gross margins reached a five-year high, reflecting a stronger mix of higher-margin revenue streams.
“We’ve broadened our go-to-market strategy and opened new distribution channels,” said Daikeler. “This will allow us to access a larger addressable market while maintaining cost efficiency.”
He added that while 2025 is expected to be a transitional year, the company is positioned to optimize top-line potential and build a sustainable growth path.
Beachbody Q1 2025 Revenue totaled $72.4 million, representing a 39.7% year-over-year decline compared to $120 million in Q1 2024. Despite the drop, the company reported progress in margin improvement, restructuring efforts, and a new lending agreement to support long-term growth.
Digital Revenue was $42.9 million, down 30.2% from $61.5 million
Nutrition & Other Revenue came in at $28.7 million, a 48.4% decrease
Connected Fitness Revenue totaled just $0.8 million, down 73.6%
Digital subscriptions for the quarter reached 1.02 million, down from 1.22 million a year ago. Nutritional subscriptions fell by nearly 48%, totaling 0.08 million. Overall, total subscriptions dropped 20% year-over-year to 1.10 million.
Despite these declines, the company reported an improved operating loss of $3.7 million, compared to $10.8 million in Q1 2024. The net loss also narrowed to $5.7 million, while Adjusted EBITDA was $3.7 million versus $4.6 million a year ago.
A key financial development in Q2 was the execution of a $25 million, 3-year loan facility with Tiger Finance, finalized on May 13, 2025. This new lending agreement allowed Beachbody to fully repay $17.3 million in outstanding debt to Blue Torch Capital—well ahead of the original February 2026 maturity date.
The financing also added approximately $5 million in capital to the company’s balance sheet. The full loan facility includes a $10 million uncommitted accordion, offering further flexibility in the future.
| Metric | Q1 2025 | Q1 2024 | Change |
|---|---|---|---|
| Digital Subscriptions (millions) | 1.02 | 1.22 | -16.6% |
| Nutritional Subscriptions (millions) | 0.08 | 0.15 | -47.7% |
| Total Subscriptions (millions) | 1.10 | 1.37 | -20.0% |
| Average Digital Retention | 97.0% | 95.7% | +130 bps |
| Total Streams (millions) | 20.7 | 25.6 | -19.0% |
| DAU/MAU Ratio | 32.5% | 33.2% | -70 bps |
| Connected Fitness Units Delivered | 1,500 | 3,500 | -56.9% |
While the decline in Beachbody Q1 2025 revenue highlights challenges in digital and nutrition segments, the company believes its strategic repositioning, cost structure improvements, and recent financing will drive better performance in future quarters.
With a streamlined model and greater flexibility, Beachbody is focusing on optimizing profitability and expanding its reach across multiple channels.
Beachbody Company, Inc. (NYSE:BODI) , now branded as BODi, is a leading provider of digital fitness, nutrition, and wellness solutions. With a legacy in direct-to-consumer health programming, BODi continues to innovate through personalized content, connected fitness, and community engagement.
For more financial updates, visit investors.thebeachbodycompany.com
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