Beachbody Company, Inc.

Cash-generative but rapidly shrinking digital fitness/nutrition company in the middle of a difficult strategic pivot.

Strengths

• High gross margin 73% (81.6th pct) and positive FCF of $17M (57th pct) despite the downturn
• Positive operating cash margin (8.6%) shows the cost-cut 'Pivot' is preserving liquidity

Risks

• Revenue collapsed 40% YoY (6.3rd pct) and net income fell 96%; demand erosion is severe
• Negative returns (ROE -9.1%, ROA -1.9%) and weak liquidity (current ratio 0.74, quick 0.63)
• Founder super-voting control and reliance on a few key products / social-media marketing

Notable findings

• Net lossNet loss (net margin -1.1%)
• Weak liquidityCurrent ratio 0.74 (<1)
• Buying back stockNet buyback — share count -60%/yr over 4y