The Beachbody Company (NYSE: BODI) Announces Amendments to its Term Loan [Yahoo! Finance]
The Beachbody Company, Inc. Class A (BODI)
Company Research
Source: Yahoo! Finance
company, today announced that it has amended certain financial covenants (and other terms) of its original $50 million term loan with Blue Torch Capital. The loan balance as of this date has been reduced to $25.5 million. "To more effectively synchronize our loan agreement with our profitability and free cash flow targets, we concluded that it was more strategically aligned with our priorities to adjust the conditions of our revenue covenant with Blue Torch Capital. The modified terms decrease the quarterly revenue floor to $100 million per quarter until December 31, 2024, and then to $110 million per quarter for the subsequent periods. These revisions are possible because of our ability to generate positive free cash flow at a much lower revenue threshold," said Carl Daikeler, BODi's Co-Founder and CEO. As part of the amendment, BODi is paying down $4 million in debt, reducing the outstanding balance to $25.5 million. The minimum liquidity covenant will be reduced by the same amo
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BODI
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- The Beachbody Company, Inc. (NYSE:BODI) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- The Beachbody Company, Inc. (NYSE: BODI) had its price target lowered by analysts at Roth Mkm from $15.00 to $14.00. They now have a "buy" rating on the stock.MarketBeat
- The Beachbody Company, Inc. (NYSE: BODI) had its price target lowered by analysts at Robert W. Baird from $12.00 to $10.00. They now have a "neutral" rating on the stock.MarketBeat
BODI
Earnings
- 5/6/24 - Miss
BODI
Sec Filings
- 5/6/24 - Form 424B3
- 5/6/24 - Form 10-Q
- 5/6/24 - Form 8-K
- BODI's page on the SEC website