The Beachbody Company (BODY) Q2 2026 earnings summary

Executive summary

• Achieved fourth consecutive quarter of positive net and operating income, and eleventh consecutive quarter of positive adjusted EBITDA with double-digit margins, reflecting durable operational discipline and a strengthened business model.

• Q2 2026 revenue was $49.6 million, down 22.4% year-over-year, but above the midpoint of guidance, with all key metrics meeting or exceeding guidance.

• Continued strategic shift from legacy MLM to an omni-channel, nutrition-led model, with growing traction in retail and digital channels.

Financial highlights

• Q2 2026 revenue: $49.6 million, down 22.4% year-over-year; digital revenue: $31.2 million (down 21.5% YoY); nutrition/other revenue: $18.5 million (down 23.7% YoY).

• Gross margin: 72.0%, nearly flat year-over-year and at the high end of target range.

• Net income: $1.4 million, marking the fourth consecutive quarter of profitability, compared to a net loss of $5.9 million YoY.

• Adjusted EBITDA: $6.7 million, up 45.7% YoY, with a margin of 13.4%.

• Operating expenses: $34.1 million, down 32.1% year-over-year.

Outlook and guidance

• Q3 2026 revenue guidance: $44–$48 million; net income (loss) guidance: ($3)–$3 million; adjusted EBITDA: $1–$6 million.

• Digital expected to comprise ~60% and nutrition/other ~40% of Q3 revenue, with a shift toward higher nutrition mix by year-end.

• Digital gross margin target: 86–88%; nutrition/other: 42–45%; total gross margin: 68–71%.

• Guidance excludes certain items such as changes in fair value of warrant liabilities and potential impairments.