BODIHIGH SIGNALFINANCIAL10-K

BODI achieved a dramatic turnaround from $66.2M operating loss to $5.5M operating profit despite a 39.9% revenue decline, indicating successful cost restructuring amid business contraction.

The company has executed a significant operational transformation, moving from deeply unprofitable to operationally positive while strengthening its balance sheet with doubled cash reserves and reduced liabilities. However, the substantial revenue decline suggests either market challenges or strategic downsizing that investors need to understand the sustainability of.

Comparing 2026-03-10 vs 2025-03-28View on EDGAR →
FINANCIAL ANALYSIS

BODI underwent a major financial transformation with revenue declining 39.9% to $251.7M but achieving a remarkable swing from $66.2M operating loss to $5.5M profit through aggressive cost management. The company strengthened its financial position with cash nearly doubling to $39M, inventory declining 42%, and current liabilities reduced by 32%, while operating cash flow surged from $2.6M to $21.8M. This suggests either successful restructuring of a contracting business or strategic repositioning, but the dramatic revenue decline raises questions about long-term growth prospects despite the improved profitability and cash generation.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
+748.9%
$2.6M$21.8M

Operating cash flow surged 748.9% — exceptional cash generation, highest quality earnings signal.

Operating Income
P&L
+108.3%
-$66.2M$5.5M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Net Income
P&L
+96%
-$71.6M-$2.9M

Net income grew 96% — bottom-line growth signals improving overall business health.

Cash & Equivalents
Balance Sheet
+93.3%
$20.2M$39.0M

Cash position surged 93.3% — strong cash generation or capital raise providing significant financial cushion.

Inventory
Balance Sheet
-42.3%
$16.3M$9.4M

Inventory drawn down 42.3% — strong sell-through or deliberate destocking; watch for supply constraints.

Revenue
P&L
-39.9%
$418.8M$251.7M

Revenue declined 39.9% — significant demand weakness or market share loss warrants investigation.

Gross Profit
P&L
-36%
$287.3M$183.8M

Gross margin compression — rising input costs, pricing pressure, or unfavorable product mix shift.

Current Liabilities
Balance Sheet
-32.2%
$127.6M$86.6M

Current liabilities reduced — improved short-term financial position and working capital health.

Interest Expense
P&L
-27.7%
$6.9M$5.0M

Interest expense declined — debt repayment or refinancing at lower rates improving earnings quality.

Accounts Receivable
Balance Sheet
-21.5%
$1.4M$1.1M

Receivables declined — improved collection efficiency or conservative revenue recognition.

LANGUAGE CHANGES
NEW — 2026-03-10
PRIOR — 2025-03-28
ADDED
There were 4,450,721 shares of registrant s Class A Common Stock, par value $0.0001 per share, and 2,729,003 shares of the registrant s Class X Common Stock, par value $0.0001 per share, outstanding as of March 3, 2026.
2 Glossary of Abbreviations and Acronyms The following is a list of select abbreviations and acronyms used throughout this document.
For nearly three decades, we have created innovative exercise, nutrition and stress-reducing content that have improved the lives of millions of customers.
We developed one of the original fitness digital streaming platforms with an extensive library of content containing over 140 complete streaming programs and over 11,000 unique streaming videos.
In 2025 and 2024, our subscribers viewed 72.5 million and 87.4 million streams, respectively.
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REMOVED
There were 4,258,179 shares of registrant s Class A Common Stock, par value $0.0001 per share, and 2,729,003 shares of the registrant s Class X Common Stock, par value $0.0001 per share, outstanding as of March 21, 2025.
We have a 26-year track record of creating innovative exercise, nutrition and stress-reducing content that have improved the lives of millions of customers.
We developed one of the original fitness digital streaming platforms with an extensive library of content containing 140 complete streaming programs and approximately 10,900 unique streaming videos.
In 2024 and 2023, our subscribers viewed 87.4 million and 98.2 million streams, respectively.
We also measure our success by month over month retention rates of our digital subscribers, which was approximately 96.8% for the year ended December 31, 2024.
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