The Beachbody Company (NYSE: BODI) Announces Amendments to its Term Loan
“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
As part of the amendment,
“The cornerstone of our turnaround initiative is our updated business strategy, which focuses on expanding sales channels of our rich fitness content and nutritional supplements to optimize profitability and cash generation from our asset base. We have successfully reduced our revenue breakeven from over
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Forward-looking statements are based upon various estimates and assumptions, as well as information known to us as of the date hereof, and are subject to risks and uncertainties. Accordingly, actual results could differ materially due to a variety of factors, including: our ability to effectively compete in the fitness and nutrition industries; our ability to successfully drive growth in our existing operations; our ability to successfully acquire and integrate new operations; our reliance on a few key products; our ability to manage costs with our existing and future operations; market conditions and global and economic factors beyond our control; intense competition and competitive pressures from other companies worldwide in the industries in which we operate; litigation; and the ability to adequately protect our intellectual property rights. You can identify these statements by the use of terminology such as "believe", “plan”, "expect", "will", "should," "could", "estimate", "anticipate," “becoming” or similar forward-looking terms. You should not rely on these forward-looking statements as they involve risks and uncertainties that may cause actual results to vary materially from the forward-looking statements. For more information regarding the risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements, as well as risks relating to our business in general, we refer you to the "Risk Factors" section of our
All forward-looking statements contained herein are based on information available to us as of the date hereof and you should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in the forward-looking statements may not be achieved or occur. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance, or achievements. We undertake no obligation to update any of these forward-looking statements for any reason after the date of this press release or to conform these statements to actual results or revised expectations, except as required by law. Undue reliance should not be placed on forward-looking statements.
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