Beachbody Files S-1/A, Details Q1 2024 Revenue Mix

TL;DR

Beachbody S-1/A filed: Q1 revenue mix shows Canada at 10.2%, other int'l <10%.

AI Summary

Beachbody Company, Inc. filed an S-1/A on June 10, 2024, detailing its financial performance. For the three months ended March 31, 2024, the company's revenue was impacted by international sales, with Canada accounting for 10.2% of total revenue, while other countries individually represented less than 10%. This filing follows previous submissions related to its fiscal years ending December 31, 2023, and 2022.

Why It Matters

This filing provides updated financial information for Beachbody, offering insights into its revenue streams and geographical performance, which is crucial for investors assessing the company's current health and future prospects.

Risk Assessment

Risk Level: medium — The filing is an amendment to a previous registration statement, suggesting ongoing financial adjustments or disclosures that could indicate underlying business challenges.

Key Numbers

• 10.2% — Canadian Revenue Share (For the three months ended March 31, 2024, Canada accounted for this percentage of total revenue.)

Key Players & Entities

• Beachbody Company, Inc. (company) — Filer
• Forest Road Acquisition Corp. (company) — Former Company Name
• 0001193125-24-158351 (filing_id) — Accession Number
• 20240610 (date) — Filing Date
• 10.2% (percentage) — Canadian Revenue Share Q1 2024

FAQ

Key Financial Figures

• $0.0001 — 590 shares of our Class A common stock, $0.0001 par value per share (the "Class A Commo
• $11.24 — mmon Warrants have an exercise price of $11.24 per share, and are exercisable at any t
• $6.1 million — ive aggregate proceeds of approximately $6.1 million. See "Use of Proceeds" beginning on pag
• $8.75 — ur Class A Common Stock on the NYSE was $8.75 per share. An investment in our secur
• $11 — A Common Stock at an exercise price of $11.24, originally issued in connection wit
• $9.75 — s A Common Stock at a purchase price of $9.75 per share and pre-funded warrants to
• $9.7499 — Stock at a pre-funded purchase price of $9.7499 per share and an exercise price of $0.0
• $4.9 m — ering. The Company received proceeds of $4.9 million, net of placement agent fees. The
• $40.0 million — and we recorded goodwill impairment of $40.0 million in the year ended December 31, 2023. We
• $3.1 million — orded an intangible asset impairment of $3.1 million in the year ended December 31, 2023.
• $4.0 million — n December 2023, the Company recorded a $4.0 million impairment on its $5.0 million investme
• $5.0 million — corded a $4.0 million impairment on its $5.0 million investment in equity securities of a pr
• $1.0 million — this investment on January 9, 2024 for $1.0 million and made a partial prepayment on the Te
• $4.8 million — ility which had a net carrying value of $4.8 million at December 31, 2023, for $6.2 million.
• $6.2 million — $4.8 million at December 31, 2023, for $6.2 million. Simultaneous with the sale we entered

Filing Documents

• d632690ds1a.htm (S-1/A) — 3743KB
• d632690dex231.htm (EX-23.1) — 1KB
• d632690dex232.htm (EX-23.2) — 1KB
• g632690g00y01.jpg (GRAPHIC) — 43KB
• g632690g05b74.jpg (GRAPHIC) — 33KB
• 0001193125-24-158351.txt (&nbsp;) — 16131KB
• body-20240331.xsd (EX-101.SCH) — 102KB
• body-20240331_cal.xml (EX-101.CAL) — 104KB
• body-20240331_def.xml (EX-101.DEF) — 555KB
• body-20240331_lab.xml (EX-101.LAB) — 807KB
• body-20240331_pre.xml (EX-101.PRE) — 748KB
• d632690ds1a_htm.xml (XML) — 2876KB

USE OF PROCEEDS

USE OF PROCEEDS 48 MARKET PRICE OF OUR COMMON STOCK AND DIVIDEND INFORMATION 49

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS OF BEACHBODY

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS OF BEACHBODY 60 MANAGEMENT 84

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 91 2023 DIRECTOR COMPENSATION 100 CEO PAY RATIO 102 PRINCIPAL SECURITYHOLDERS 103 SELLING SHAREHOLDERS 106 CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS 108

DESCRIPTION OF SECURITIES

DESCRIPTION OF SECURITIES 110 PLAN OF DISTRIBUTION 113 LEGAL MATTERS 116 EXPERTS 116 CHANGE IN INDEPENDENT REGISTERED PUBLIC ACCOUNTANT 116 WHERE YOU CAN FIND MORE INFORMATION 118 INDEX TO FINANCIAL STATEMENTS F-1

: INFORMATION NOT REQUIRED IN PROSPECTUS

PART II: INFORMATION NOT REQUIRED IN PROSPECTUS II-1

SIGNATURES

SIGNATURES II-9 You should rely only on the information contained in this prospectus. No one has been authorized to provide you with information that is different from that contained in this prospectus. This prospectus is dated as of the date set forth on the cover hereof. You should not assume that the information contained in this prospectus is accurate as of any date other than that date. i Table of Contents TRADEMARKS This document contains references to trademarks and service marks belonging to other entities. Solely for convenience, trademarks and trade names referred to in this prospectus may appear without the or TM symbols, but such references are not intended to indicate, in any way, that the applicable licensor will not assert, to the fullest extent under applicable law, its rights to these trademarks and trade names. We do not intend our use or display of other companies' trade names, trademarks or service marks to imply a relationship with, or endorsement or sponsorship of it by, any other companies. SELECTED DEFINITIONS Unless otherwise stated in this prospectus or the context otherwise requires, references to: "2021 Plan" are to the Beachbody Company, Inc. 2021 Incentive Award Plan; "2023 Employment Inducement Incentive Award Plan" are to the Beachbody Company, Inc. 2023 Employment Inducement Incentive Award Plan; "Beachbody" are to FRX after the Business Combination and its name change from Forest Road Acquisition Corp.; "Exchange Act" are to the Securities Exchange Act of 1934, as amended; "Business Combination" are to the transactions contemplated by that certain Agreement and Plan of Merger, dated as of February 9, 2021, by and among FRX, BB Merger Sub, LLC, a Delaware limited liability company and a direct, wholly owned subsidiary of FRX, Myx Merger Sub, LLC, a Delaware limited liability company and a direct, wholly owned subsidiary of FRX, The Beachbody Company Group, LLC, a Delaware limited liability company and Myx Fi

Risk Factors

Risk Factors Summary of Risk Factors If we are unable to anticipate and satisfy consumer preferences and shifting views of health, fitness and nutrition, our business may be adversely affected. If we are unable to sustain pricing levels for our products and services, our business could be adversely affected. Our success depends on our ability to maintain the value and reputation of our brands. The perception of the effects or value of our products may change over time, which could reduce customer demand. We may not successfully execute or achieve the expected benefits of our strategic alignment initiatives and other cost-saving measures we may take in the future, and our efforts may result in further actions and/or additional asset impairment charges and adversely affect our business. Our marketing strategy relies on the use of social media platforms and any negative publicity on such social media platforms may adversely affect the public perception of our brand, and changing terms or conditions or ways in which advertisers use their platforms may adversely affect our ability to engage with customers. We may be unable to attract and retain customers, which would materially and adversely affect our business, results of operations and financial condition. Our customers use their connected fitness products and fitness accessories to track and record their workouts. If our products fail to provide accurate metrics and data to our customers, our brand and reputation could be harmed and we may be unable to retain our customers. Our business relies on sales of a few key products. If there are any material delays or disruptions in our supply chain, or errors in forecasting of the demand for our products and services, our business may be adversely affected. The failure or inability of our contract manufacturers to comply with the specifications and requirements of our products could result in product recall, which could adversely affect our reputation

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View this S-1/A filing on SEC EDGAR