The Beachbody Company, Inc., also known as BODi, has received a notice from the New York Stock Exchange (NYSE) stating that it is not currently in compliance with Section 802.01B of the NYSE’s listing standards. The rule requires listed companies to maintain both an average market capitalization and stockholders’ equity of at least $50 million over a consecutive 30 trading-day period.
While the notice does not immediately affect BODi’s NYSE listing, the company is required to submit a business plan within 45 days outlining how it intends to regain compliance within 18 months.
The fitness and nutrition company recently phased out its long-standing multi-level marketing (MLM) model—calling it “outdated and unsustainable”—in favor of a single-level affiliate program.
“I believe we’re seeing the signs that our recent shifts have great potential to scale,” BODi co-founder and CEO Carl Daikeler told investors on last month’s earnings call. “Our focus continues to be on delivering real results for people, helping them get fit, stay active and feel their best. And with this refined business model, we’re moving toward a more efficient, more profitable and more impactful business model with incredible agility and leverage. We know the demand is there, especially in this new GLP-1 semaglutide age of weight loss pharmaceuticals. More people need our no-nonsense approach to fitness and nutrition than ever. There’s real demand there. So I maintain that, our opportunity is huge and with a clear strategy in place, we’re creating momentum for the long-term.”
As part of its turnaround strategy, BODi is focusing on partnerships—including collaborations with Dr. B and Truemed to help consumers use HSA and FSA funds on Beachbody products. Another new partnership with telehealth provider Hello Alpha gives BODi members access to medical support spanning hormone health and weight loss from licensed providers.
For the fourth quarter of 2024, BODi reported revenue of $86.4 million, compared to $119.0 million in the same period the previous year. Full-year revenue totaled $418.8 million, versus $527.1 million in 2023.
