Title: The Beachbody Company Faces NYSE Notice Over Non-Compliance: What This Means for Investors and the Fitness Giant’s Future

The Beachbody Company Receives NYSE Non-Compliance Notice

The Beachbody Company, Inc. (NYSE: BODi), a prominent player in the fitness and nutrition industry, has recently received a formal notice of non-compliance from the New York Stock Exchange (NYSE). The notice, issued on April 10, 2025, highlights that Beachbody failed to meet the NYSE's listing standards concerning minimum average market capitalization and stockholders’ equity requirements[1][4][5].

Specifically, the company did not maintain the required average market capitalization of at least $50 million over a consecutive 30 trading-day period. Additionally, its stockholders’ equity also fell below the NYSE minimum threshold of $50 million, triggering this regulatory action[1][4].

What the NYSE Listing Rules Entail

According to Section 802.01B of the NYSE Listed Company Manual, listed companies must uphold certain financial benchmarks to maintain their NYSE listing status. These include:

• Average Market Capitalization: Minimum of $50 million over 30 consecutive trading days.
• Stockholders’ Equity: A minimum of $50 million.

Non-compliance with these standards compels the NYSE to issue a formal notice, and the company must then submit a viable business plan within 45 days demonstrating how it plans to return to compliance within 18 months[1][4][5].

Beachbody’s Response and Next Steps

Beachbody management has confirmed that it intends to submit the required business plan within the stipulated 45-day timeframe. The company’s securities remain listed on the NYSE during this compliance period, as long as other listing requirements are met[4][5].

This compliance plan is a critical document that will outline Beachbody's strategic initiatives aimed at recovering its market capitalization and stockholders’ equity to meet and sustain NYSE standards.

Analyzing Beachbody’s Current Business Situation

Financial Performance Overview

Beachbody’s recent financial results underline some of the challenges it is currently facing:

• Fourth-quarter revenue for 2024 was reported at $86.4 million, down from $119.0 million in the same period the previous year.
• Full-year revenue for 2024 totaled $418.8 million, compared with $527.1 million in 2023[2].

This decline in revenue has likely contributed to the drop in market capitalization and equity[2].

Strategic Shift from MLM to Single-Level Affiliate Program

In an effort to reverse its fortunes, Beachbody has undergone a significant business model transformation. The company phased out its long-standing multi-level marketing (MLM) system, describing it as "outdated and unsustainable." Instead, it now focuses on a single-level affiliate program designed to be more streamlined and profitable[2].

CEO and co-founder Carl Daikeler emphasized the company’s commitment to delivering tangible fitness and nutrition results, highlighting the strategic pivot aimed at creating a more efficient and impactful business model[2].

Growth Through Strategic Partnerships

Beachbody is actively pursuing new growth avenues, including partnerships that allow consumers to use Health Savings Account (HSA) and Flexible Spending Account (FSA) funds to purchase its products. Collaborations with health and wellness companies like Dr. B, Truemed, and telehealth provider Hello Alpha offer expanded medical and wellness support services[2].

These partnerships reflect Beachbody’s broader turnaround strategy to enhance its market presence and improve financial health, which are essential in the plan to regain NYSE compliance.

Implications for Investors and Market Watchers

Does the Non-Compliance Notice Mean Delisting is Imminent?

Receiving an NYSE non-compliance notice is not an automatic signal of imminent delisting. The NYSE allows the company up to 18 months to regain compliance after submitting its business plan. During this period, the company’s stock remains listed, provided it meets other listing criteria[1][4][5].

However, failure to execute the compliance plan successfully or rejection of the plan by the NYSE could lead to delisting, which would significantly impact investor confidence and stock liquidity.

Potential Impact on Stock Price and Market Perception

Market reaction to such notices can be volatile. Investors may perceive the notice as a risk factor, potentially leading to downward pressure on the stock price. Conversely, clear and transparent communication of the company’s turnaround strategy can help rebuild confidence.

Investors should monitor Beachbody’s forthcoming business plan and subsequent quarterly reports closely to gauge progress toward compliance and long-term financial stability.

Key Takeaways

• Non-Compliance Notice: Beachbody failed to maintain NYSE’s minimum market capitalization and stockholders’ equity requirements; received a notice on April 10, 2025.
• Compliance Deadline: Company must submit a business plan within 45 days to outline how it will comply within 18 months.
• Current Financials: Declining revenue and equity levels linked to previous MLM model phase-out and business transition.
• Business Model Shift: Transition to a single-level affiliate program and push for strategic partnerships to drive growth.
• Investor Impact: Stock remains listed during compliance period; delisting possible if plan is not approved or executed.
• Future Outlook: Success depends on executing turnaround strategy and regaining market confidence.

Conclusion

The Beachbody Company’s receipt of a non-compliance notice from the NYSE marks a critical juncture for the fitness and nutrition giant. The company’s response, through a comprehensive business plan and ongoing strategic pivots, will determine whether it can return to compliance and sustain its NYSE listing.

Investors and market watchers should keep a close eye on Beachbody’s strategic developments, financial results, and compliance updates in the coming months to assess the company’s trajectory.

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