Why Is Beachbody Stock Tumbling?

Beachbody ($BODY@US) shares are significantly lower this morning after the company announced third-quarter revenue was down year-over-year. The company, which offers streamed and live fitness, nutrition programs, and various products, reported a quarterly adjusted loss of $43.4 million versus an adjusted $31.4 million year-over-year. Revenue was $208.1 million, which was down from $251.5 million year-over-year. Third-quarter subscriptions to the on-demand fitness app were 2.98 million, a 2% decrease. Beachbody expects full-year 2021 revenue to be in the range of $820 million to $830 million versus the estimate of $964 million. The company attributes the drop to a softer at-home fitness demand as consumers have grown tired of social distancing, in addition to a challenging media environment and a short delay in product launches from September to October. Beachbody has traded as high as $13.50 and as low as $4.48 over a 52-week period. The stock was down 26.80% at $3.38 as of Tuesday morning.