{"id":57810,"date":"2023-07-27T01:04:57","date_gmt":"2023-07-26T23:04:57","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\/"},"modified":"2023-07-27T01:04:57","modified_gmt":"2023-07-26T23:04:57","slug":"the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\/","title":{"rendered":"The Beachbody Company, Inc. Announces Amendments to its Term Loan to Align with Building a Profitable and Sustainable Business"},"content":{"rendered":"
\n

EL SEGUNDO, Calif.–(BUSINESS WIRE)–The Beachbody Company, Inc. (NYSE: BODY) (\u201cBODi\u201d or the \u201cCompany\u201d), a leading subscription health and wellness company, today announced that it has amended certain financial covenants (and other terms) of its $50 million term loan with Blue Torch Capital.<\/p>\n

\n\u201cWe felt it was appropriate to amend the terms of our revenue covenant with Blue Torch Capital to better align the loan with our profit and free cash flow objectives. The amendments reduce the revenue minimum to quarterly revenue of $100 million for each quarter through March 31, 2024, then to $120 million for each quarter thereafter. These changes reflect the Company\u2019s focus on becoming cashflow positive\u201d, said Carl Daikeler, BODi\u2019s Co-Founder and CEO.<\/p>\n

\n\u201cOur new business model is driven by our turnaround plan, which is about maximizing profitability and cash-generation from our multiple revenue streams versus growth at all costs. We are committed to creating a revenue mix with higher profitability channels that produce increases in cash as a priority. The Blue Torch team has been great to work with while amending the terms of our agreement to reflect their support of these objectives,\u201d said Mark Goldston, BODi\u2019s Executive Chairman.<\/p>\n

\n\u201cGiven our existing cash position and progress over the past 6 quarters, we agreed to prepay $15 million of the term loan\u2019s principal and increase the minimum liquidity amount to $20 million through March 31, 2024, and then to $25 million thereafter,\u201d said Marc Suidan, BODi\u2019s CFO. \u201cWe believe the net result is a very positive development. The amendments align with building a profitable and sustainable business and provide us with the flexibility to put our turnaround plan into place to focus on cash generation.\u201d<\/p>\n

\nAbout BODi and The Beachbody Company, Inc.<\/b><\/p>\n

\nKnown as Beachbody for 24 years with innovations such as P90X, Insanity, 21 Day Fix and Shakeology, BODi is headquartered in Southern California. BODi is the leader in the category of Health Esteem, which combines digital fitness, nutrition, and mindset content with exceptional supplements and a supportive community of millions of people supporting each other to live a great life while they pursue their health and weight loss goals. The Beachbody Company, Inc. is the parent company of BODi. For more information, please visit TheBeachbodyCompany.com<\/a>.<\/p>\n

\nForward-Looking Statements<\/b><\/p>\n

\nThis press release of The Beachbody Company, Inc. (\u201cwe,\u201d \u201cus,\u201d \u201cour,\u201d and similar terms) contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are statements other than statements of historical facts and statements in future tense. These statements include but are not limited to, statements regarding our future performance and our market opportunity, including expected financial results, our business strategy, our plans, and our objectives and future operations.<\/p>\n

\nForward-looking statements are based upon various estimates and assumptions, as well as information known to us as of the date hereof, and are subject to risks and uncertainties. Accordingly, actual results could differ materially due to a variety of factors, including: our ability to effectively compete in the fitness and nutrition industries; our ability to successfully drive growth in our existing operations; our ability to successfully acquire and integrate new operations; our reliance on a few key products; our ability to manage costs with our existing and future operations; market conditions and global and economic factors beyond our control; intense competition and competitive pressures from other companies worldwide in the industries in which we operate; litigation; and the ability to adequately protect our intellectual property rights. You can identify these statements by the use of terminology such as “believe”, \u201cplan\u201d, “expect”, “will”, “should,” “could”, “estimate”, “anticipate,” \u201cbecoming\u201d or similar forward-looking terms. You should not rely on these forward-looking statements as they involve risks and uncertainties that may cause actual results to vary materially from the forward-looking statements. For more information regarding the risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements, as well as risks relating to our business in general, we refer you to the “Risk Factors” section of our Securities and Exchange Commission (\u201cSEC\u201d) filings, including those risks and uncertainties included in our Annual Report on Form 10-K filed with the SEC on March 16, 2023 and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, which are available on the Investor Relations page of our website at https:\/\/investors.thebeachbodycompany.com<\/a> and on the SEC website at www.sec.gov<\/a>.<\/p>\n

\nAll forward-looking statements contained herein are based on information available to us as of the date hereof and you should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in the forward-looking statements may not be achieved or occur. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance, or achievements. We undertake no obligation to update any of these forward-looking statements for any reason after the date of this press release or to conform these statements to actual results or revised expectations, except as required by law. Undue reliance should not be placed on forward-looking statements.<\/p>\n

Contacts<\/b> <\/p>\n

\nInvestor Relations<\/b>
ICR, Inc.
\n
BeachbodyIR@icrinc.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

EL SEGUNDO, Calif.–(BUSINESS WIRE)–The Beachbody Company, Inc. (NYSE: BODY) (\u201cBODi\u201d or the \u201cCompany\u201d), a leading subscription health and wellness company, today announced that it has amended certain financial covenants (and other terms) of its $50 million term loan with Blue Torch Capital. \u201cWe felt it was appropriate to amend the terms of our revenue covenant … [Read more…]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-57810","6":"format-standard","7":"category-industry"},"yoast_head":"\nThe Beachbody Company, Inc. Announces Amendments to its Term Loan to Align with Building a Profitable and Sustainable Business - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Beachbody Company, Inc. Announces Amendments to its Term Loan to Align with Building a Profitable and Sustainable Business - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"EL SEGUNDO, Calif.–(BUSINESS WIRE)–The Beachbody Company, Inc. (NYSE: BODY) (\u201cBODi\u201d or the \u201cCompany\u201d), a leading subscription health and wellness company, today announced that it has amended certain financial covenants (and other terms) of its $50 million term loan with Blue Torch Capital. \u201cWe felt it was appropriate to amend the terms of our revenue covenant ... [Read more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/pharma-trend.com\/en\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\/\" \/>\n<meta property=\"og:site_name\" content=\"Pharma Trend\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-26T23:04:57+00:00\" \/>\n<meta name=\"author\" content=\"Business Wire\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Business Wire\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\\\/\"},\"author\":{\"name\":\"Business Wire\",\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#\\\/schema\\\/person\\\/02d41342c7a74fa7f0032bb35ef0bb24\"},\"headline\":\"The Beachbody Company, Inc. Announces Amendments to its Term Loan to Align with Building a Profitable and Sustainable Business\",\"datePublished\":\"2023-07-26T23:04:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\\\/\"},\"wordCount\":881,\"publisher\":{\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#organization\"},\"articleSection\":[\"Industry\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\\\/\",\"url\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\\\/\",\"name\":\"The Beachbody Company, Inc. Announces Amendments to its Term Loan to Align with Building a Profitable and Sustainable Business - Pharma Trend\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#website\"},\"datePublished\":\"2023-07-26T23:04:57+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/pharma-trend.com\\\/en\\\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Startseite\",\"item\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Beachbody Company, Inc. Announces Amendments to its Term Loan to Align with Building a Profitable and Sustainable Business\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/\",\"name\":\"Pharma Trend\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#organization\",\"name\":\"Pharma Trend\",\"url\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"\",\"contentUrl\":\"\",\"caption\":\"Pharma Trend\"},\"image\":{\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/pharma-trend.com\\\/en\\\/#\\\/schema\\\/person\\\/02d41342c7a74fa7f0032bb35ef0bb24\",\"name\":\"Business Wire\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Beachbody Company, Inc. Announces Amendments to its Term Loan to Align with Building a Profitable and Sustainable Business - Pharma Trend","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/pharma-trend.com\/en\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\/","og_locale":"en_US","og_type":"article","og_title":"The Beachbody Company, Inc. Announces Amendments to its Term Loan to Align with Building a Profitable and Sustainable Business - Pharma Trend","og_description":"EL SEGUNDO, Calif.–(BUSINESS WIRE)–The Beachbody Company, Inc. (NYSE: BODY) (\u201cBODi\u201d or the \u201cCompany\u201d), a leading subscription health and wellness company, today announced that it has amended certain financial covenants (and other terms) of its $50 million term loan with Blue Torch Capital. \u201cWe felt it was appropriate to amend the terms of our revenue covenant ... [Read more...]","og_url":"https:\/\/pharma-trend.com\/en\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\/","og_site_name":"Pharma Trend","article_published_time":"2023-07-26T23:04:57+00:00","author":"Business Wire","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Business Wire","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/pharma-trend.com\/en\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\/#article","isPartOf":{"@id":"https:\/\/pharma-trend.com\/en\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\/"},"author":{"name":"Business Wire","@id":"https:\/\/pharma-trend.com\/en\/#\/schema\/person\/02d41342c7a74fa7f0032bb35ef0bb24"},"headline":"The Beachbody Company, Inc. Announces Amendments to its Term Loan to Align with Building a Profitable and Sustainable Business","datePublished":"2023-07-26T23:04:57+00:00","mainEntityOfPage":{"@id":"https:\/\/pharma-trend.com\/en\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\/"},"wordCount":881,"publisher":{"@id":"https:\/\/pharma-trend.com\/en\/#organization"},"articleSection":["Industry"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/pharma-trend.com\/en\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\/","url":"https:\/\/pharma-trend.com\/en\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\/","name":"The Beachbody Company, Inc. Announces Amendments to its Term Loan to Align with Building a Profitable and Sustainable Business - Pharma Trend","isPartOf":{"@id":"https:\/\/pharma-trend.com\/en\/#website"},"datePublished":"2023-07-26T23:04:57+00:00","breadcrumb":{"@id":"https:\/\/pharma-trend.com\/en\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/pharma-trend.com\/en\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/pharma-trend.com\/en\/the-beachbody-company-inc-announces-amendments-to-its-term-loan-to-align-with-building-a-profitable-and-sustainable-business\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Startseite","item":"https:\/\/pharma-trend.com\/en\/"},{"@type":"ListItem","position":2,"name":"The Beachbody Company, Inc. Announces Amendments to its Term Loan to Align with Building a Profitable and Sustainable Business"}]},{"@type":"WebSite","@id":"https:\/\/pharma-trend.com\/en\/#website","url":"https:\/\/pharma-trend.com\/en\/","name":"Pharma Trend","description":"","publisher":{"@id":"https:\/\/pharma-trend.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/pharma-trend.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/pharma-trend.com\/en\/#organization","name":"Pharma Trend","url":"https:\/\/pharma-trend.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pharma-trend.com\/en\/#\/schema\/logo\/image\/","url":"","contentUrl":"","caption":"Pharma Trend"},"image":{"@id":"https:\/\/pharma-trend.com\/en\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/pharma-trend.com\/en\/#\/schema\/person\/02d41342c7a74fa7f0032bb35ef0bb24","name":"Business Wire"}]}},"_links":{"self":[{"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/posts\/57810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/comments?post=57810"}],"version-history":[{"count":0,"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/posts\/57810\/revisions"}],"wp:attachment":[{"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/media?parent=57810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/categories?post=57810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pharma-trend.com\/en\/wp-json\/wp\/v2\/tags?post=57810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}