Beachbody Company, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Beachbody Company, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and corporate information.</b>

AI Summary

Beachbody Company, Inc. (BODYW) filed a Annual Report (10-K) with the SEC on March 11, 2024. The Beachbody Company, Inc. filed its 2023 Form 10-K on March 11, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is 400 Continental Blvd, Suite 400, El Segundo, CA 90245. Beachbody was formerly known as Forest Road Acquisition Corp. until October 1, 2020. The filing includes details on various financial instruments, including warrants and stock.

Why It Matters

For investors and stakeholders tracking Beachbody Company, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Beachbody's financial health and operational status for the fiscal year 2023, crucial for investors to assess performance and future prospects. The detailed financial disclosures, including information on assets, liabilities, and equity, are essential for understanding the company's financial position and any potential risks or opportunities.

Risk Assessment

Risk Level: medium — Beachbody Company, Inc. shows moderate risk based on this filing. The company's financial disclosures in the 10-K indicate a complex financial structure with various financial instruments, suggesting potential volatility and the need for careful analysis.

Analyst Insight

Investors should carefully review the financial statements and risk factors in the 10-K to understand Beachbody's financial health and strategic direction.

Key Numbers

• 20231231 — Fiscal Year End (Conformed period of report)
• 20240311 — Filing Date (As of date)
• 0000950170-24-029409 — Accession Number (SEC filing accession number)
• 0001826889 — Central Index Key (Filer's Central Index Key)

Key Players & Entities

• Beachbody Company, Inc. (company) — Filer name
• Forest Road Acquisition Corp. (company) — Former company name
• 400 Continental Blvd, Suite 400, El Segundo, CA 90245 (company) — Business address
• 0000950170-24-029409 (other) — Accession number
• 20231231 (date) — Fiscal year end
• 20240311 (date) — Filing date

FAQ

Industry Context

Beachbody operates in the non-store retailers sector, focusing on health and fitness products and services.

Regulatory Implications

The filing is a standard 10-K annual report required by the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review Beachbody's 2023 financial statements for revenue, net income, and cash flow.
2. Analyze the company's debt and equity structure as detailed in the 10-K.
3. Examine any disclosed risk factors that could impact future performance.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-11: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for Beachbody Company, Inc. after its name change from Forest Road Acquisition Corp. on October 1, 2020.

Key Financial Figures

• $0.0001 — tered Class A Common Stock, par value $0.0001 per share BODI The New York Stock E
• $179 — nnual subscription price was reduced to $179, from $298 in September 2022 to appeal
• $298 — ription price was reduced to $179, from $298 in September 2022 to appeal to a larger
• $1,399 — d States, the standard package price is $1,399 and includes a Polar heart rate monitor
• $1,625 — to BODi with a bike and accessories for $1,625. In late 2023, we began offering a BODi
• $499 — ices (e.g., phone, watch or tablet) for $499. Implementing a "One Brand" Strategy
• $15.00 — equates to an average monthly price of $15.00 during 2023, which is less expensive th
• $25.00 — fitness classes typically cost between $25.00 and $45.00 per person per class and fol
• $45.00 — asses typically cost between $25.00 and $45.00 per person per class and follow a stric
• $50 — ay in monthly installments of as low as $50 for 36 months. These financing programs
• $99 — Total Solution Pack, which is priced at $99 per month and comes with a twenty servi

Filing Documents

• body-20231231.htm (10-K) — 3773KB
• body-ex3_1.htm (EX-3.1) — 164KB
• body-ex21_1.htm (EX-21.1) — 5KB
• body-ex23_1.htm (EX-23.1) — 3KB
• body-ex23_2.htm (EX-23.2) — 8KB
• body-ex31_1.htm (EX-31.1) — 16KB
• body-ex31_2.htm (EX-31.2) — 17KB
• body-ex32_1.htm (EX-32.1) — 18KB
• body-ex97_1.htm (EX-97.1) — 37KB
• img27321737_0.jpg (GRAPHIC) — 88KB
• 0000950170-24-029409.txt (&nbsp;) — 18031KB
• body-20231231.xsd (EX-101.SCH) — 2765KB
• body-20231231_htm.xml (XML) — 3298KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 44 Item 1C. Cybersecurity 44 Item 2.

Properties

Properties 45 Item 3.

Legal Proceedings

Legal Proceedings 45 Item 4. Mine Safety Disclosures 46 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 46 Item 6.

Selected Financial Data

Selected Financial Data 47 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 47 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 64 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 65 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 113 Item 9A.

Controls and Procedures

Controls and Procedures 113 Item 9B. Other Information 114 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 114 PART III Item 10. Directors, Executive Officers, and Corporate Governance 115 Item 11.

Executive Compensation

Executive Compensation 115 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 115 Item 13. Certain Relationships and Related Transactions, and Director Independence 115 Item 14. Principal Accounting Fees and Services 115 PART IV Item 15. Exhibits, Financial Statement Schedules 116 Item 16. Form 10-K Summary 120 1 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act"), including statements about and the financial condition, results of operations, earnings outlook and prospects of The Beachbody Company, Inc. (the "Company," "BODi", "we," "us," "our" or similar terms). Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements are based on our current expectations as applicable and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to the following: our future financial performance, including our expectations regarding our revenue, cost of revenue, gross profit, operat

View Full Filing

View this 10-K filing on SEC EDGAR