
The Beachbody Company amended its ABL Facility on January 7, 2026, increasing the minimum liquidity financial covenant from $12M to $15M and reducing the Monthly Digital Subscriptions Target to 700,000.
Bullish
The Beachbody Company significantly improved profitability in 2025, achieving $5.5M operating income and $17.35M positive free cash flow, while expanding its total gross margin to 73.0%.
Bearish
The Beachbody Company experienced a 40% total revenue decline to $251.7M in 2025 and a significant contraction in its digital and nutritional subscriber base, facing intense market competition.