The Q2 beat on bottom-line profitability is overshadowed by the ongoing top-line erosion and a Q3 outlook that points to further revenue contraction and a return to net loss. Monitor the pace of digital subscription stabilization and the retail nutrition ramp; the credit amendment provides near-term flexibility but cash burn is accelerating.
Price Chart
Executive Summary
Beachbody reported Q2 2026 revenue of $49.6M (-22.4% YoY), beating consensus of $49.3M by 0.6%, with GAAP basic EPS of $0.19 versus an estimated -$0.15 loss (226.7% beat), marking the fourth consecutive quarter of net income and operating income. However, the revenue decline persists across both digital and nutrition segments, and Q3 guidance of $44-48M implies further sequential contraction. The company also amended its credit agreement to a more flexible covenant structure on Aug 3, 2026, reflecting lender confidence.
Key Financial Metrics
Key Facts
- Q2 2026 revenue $49.6M, down 22.4% YoY from $63.9M
- GAAP basic EPS $0.19 vs consensus -$0.15 (226.7% beat)
- Net income $1.4M, fourth consecutive profitable quarter (vs -$5.9M loss a year ago)
- Adjusted EBITDA $6.7M, +45.7% YoY (eleventh consecutive positive quarter)
- Digital subs 0.76M (-19.1% YoY); Nutrition subs flat at 0.07M
- Q3 2026 guidance: revenue $44-48M, net loss $(3)-$0M, Adjusted EBITDA $3-6M
- Cash burn: six-month operating cash flow -$4.3M (vs +$6.6M prior year); net cash position $8.8M (down from $15.4M Dec 2025)
- Credit agreement amended Aug 3, 2026 for more flexible covenant structure
Financial Impact
Revenue decline of $14.3M YoY (22.4%) but net income swing of +$7.3M from loss to profit
Risk Factors
- Revenue declines accelerating across digital and nutrition segments (22-24% YoY)
- Q3 guidance implies sequential revenue drop of 3-11% from Q2 and a return to GAAP net loss
- Operating cash flow turned negative -$4.3M in H1 2026 vs positive $6.6M in H1 2025
- Net cash position declining; leverage remains elevated with $23.6M total debt
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-342355 |
| Document: body-20260810.htm | 0001193125-26-342355 |
| Document: 0001193125-26-342355-index-headers.html | 0001193125-26-342355 |
| Document: 0001193125-26-342355-index.html | 0001193125-26-342355 |
| Document: 0001193125-26-342355.txt | 0001193125-26-342355 |
| 8-K Data (Synthetic) | 0001193125-26-342355 |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers