The Beachbody Company, Inc. (NYSE: BODY) stock is down 5.20% in the pre-market trading session at the price of $7.49 after the release of the second quarter of the 2021 financial report.
BODY Stock Second Quarter 2021 Financial Results
On 12th August 2021, The Beachbody Company published financial results for its second quarter, and six months ended 30th June 2021. Net revenue in Q2 2021 was $223.1 million, 2% higher than 2020 and a 21% increase compared to 2019. Net loss was $12.4 million in the second quarter of 2021. A net loss of $10.0 million was reported in 2020 and $19.6 million in 2019.
Total Revenue was $449.3 million in the previous six months of 2021. An increment of 16% was noted compared to 2020 and a 14% increase compared to 2019. Net loss during this period was $42.5 million. A net loss of $18.3 million was reported in 2020 and a net income of $27.1 million in 2019.
CEO Carl Daikeler commented that Beachbody had established itself as a worldwide leader in subscription health & wellness over the last two decades. Its finest developments are the compelling digital fitness content and proprietary nutritional products used by millions of customers. Achieving their merger, adding connected fitness to the Beachbody portfolio, and raising Beachbody in the public market has set the frame for multi-year stimulated growth, he added.
MYXfitness Introduced New MYX II Bikes
On 27th July 2021, BODY announced that MYXfitness’ has launched the new MYX II bike. MYXfitness’ target is to provide a studio-quality riding experience with a broad range of content. MYX bikes have added new features in industry-leading hardware upgrades and two unique digital fitness platforms on Demand and Openfit. These additions are going to be the next advancement in commercial-grade and highly personalized indoor cycling experience.
President Heberto Calves remarked that MYX has started offering the highest quality bike at a highly affordable price. By providing both Beachbody and Openfit experiences on the MYX flawless home fitness system, they’re now able to offer alternatives to serve entire households and people with different personal choices.
Groundbreaking At-Home Fitness Program with Trainer Amoila Cesar
On 19th July 2021, Beachbody launched a groundbreaking at-home fitness program that addressed maximum results utilizing a unique mixture of strength, cardio, and mobility-focused training. The program is helpful in preventing injury while creating outrageous power and performance gains. Beachbody has invited super celebrity fitness trainer Amoila Cesar to provide fitness training. The program used the same fitness techniques he has been using for years to help athletes and celebrities get suitable training.
CEO Carl Daikeler commented that their programs have done a great job of making people motivated and helping them to be committed to their fitness courses. Most importantly, it has ensured them that they’re getting to their end goals in the correct way and without injury.
