Latest news with #TigerFinance
Yahoo
2 days ago
- Business
- Yahoo
Tiger Finance Provides $35 Million in Funding for The Beachbody Co.
--Turnaround financing, done in partnership with SG Credit Partners, designed to support fitness and nutrition company's transition to a new business model. NEW YORK, June 10, 2025 /PRNewswire/ -- Tiger Capital Group's lending platform, Tiger Finance, has provided $35 million in financing to The Beachbody Company, Inc. (NYSE:BODI), a leading fitness and nutrition company. SG Credit Partners participated with Tiger in the funding package, which included an immediate $25 million term loan, as well as a $10 million uncommitted accordion. The three-year loan facility allowed the El Segundo, California-based company to retire $17.3 million of outstanding debt, while adding approximately $5 million of capital to its balance sheet. "We're very excited to partner with Beachbody to support their expansion in the digital fitness and nutrition space," said Andy Babcock, Managing Director at Tiger Finance. "Our team believes that this and other strategic moves by management should position Beachbody for greater profitability and long-term growth." Carl Daikeler, Beachbody Co-Founder and Chief Executive Officer, added: "Tiger's belief in our business plan and flexible approach to lending gave us the liquidity to execute on our efforts to open new and more profitable channels of distribution. We are thrilled to partner with them and SG Credit Partners on our turnaround strategy." About Tiger FinanceStretch asset-based lender Tiger Finance approaches investing decisions based upon Asset Intelligence. Providing first-lien, second-lien, and split-lien facilities, typically structured as term debt, Tiger Finance advances against working capital, machinery and equipment, fixtures, real estate, and intellectual property across a wide range of industries. It is a division of Tiger Capital Group, which specializes in the provision of secured debt financing and equity investments, as well as comprehensive appraisals for the ABL industry and the disposition of consumer and industrial assets. About BODi and The Beachbody Company, known as Beachbody, BODi has been innovating structured step-by-step home fitness and nutrition programs for 25 years such as P90X, Insanity, and 21-Day Fix, plus the first premium superfood nutrition supplement, Shakeology. Since its inception in 1999 BODi has helped over 30 million customers pursue extraordinary life-changing results. The BODi community represents millions of people helping each other stay accountable to goals of healthy weight loss, improved strength and energy, and resilient mental and physical well-being. For more information, please visit Media Contacts: At Jaffe Communications, Elisa Krantz, (908) 789-0700, elisa@ View original content: SOURCE Tiger Group
Yahoo
27-05-2025
- Business
- Yahoo
JPMorganChase and Tiger Finance Provide $141 Million Credit Facility to Consumer Brand Company
-- Financing supports growth strategy of media-savvy brand-incubator known for its strong focus on ecommerce channels and reliance on celebrity influencers NEW YORK, May 27, 2025 /PRNewswire/ -- Tiger Finance and JPMorgan Chase have provided a lifestyle growth brand incubator with $141 million in strategic financing. The revolving line of credit/term loan consists of $26 million provided by Tiger Finance and $115 million provided by JPMorgan Chase. "Featured in the likes of Elle, Homes & Gardens, The New York Times and countless Instagram and TikTok posts by celebrity influencers, the borrower's brands have the potential for even further growth," said Tiger Finance Managing Director Andrew Babcock. Since 2020, the brand company has earned sales and media impressions in the billions, with much of its business coming through digital/ecommerce channels, the executive noted. "More operators with growth brands are looking for non dilutive growth capital by forging relationships with Tiger Finance and JPMorgan Chase," Babcock said. "Our asset intelligence gives us the ability to help a broad array of companies achieve their goals at a time of both uncertainty and opportunity." Media Contacts: At Jaffe Communications, Elisa Krantz, (908) 789-0700, elisa@ View original content: SOURCE Tiger Group Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
The Beachbody Co Inc (BODI) Q1 2025 Earnings Call Highlights: Surpassing Expectations Amid ...
Revenue: $72.4 million, exceeding guidance of $60 million to $70 million. Adjusted EBITDA: $3.7 million, surpassing guidance of a $2 million loss to $2 million. Gross Margin: 71.2%, up 70 basis points from the previous quarter and 350 basis points year-over-year. Digital Revenue: $42.9 million, a decrease of 14.8% from the prior quarter and 30.2% year-over-year. Nutrition Revenue: $28.7 million, down 17.7% from the prior quarter and 48.4% year-over-year. Net Loss: $5.7 million, an improvement of $8.5 million compared to the same quarter last year. Cash Balance: $18.1 million, compared to $20.2 million in the prior quarter. Digital Subscriber Count: 1.02 million, a decline of 5.1% sequentially and 16.6% year-over-year. Nutrition Subscriptions: 80,000, a decrease of 13.1% sequentially and 47.7% year-over-year. Operating Expenses: $55.2 million, a decline of 41.1% sequentially and 40.0% year-over-year. Warning! GuruFocus has detected 4 Warning Signs with BODI. Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. The Beachbody Co Inc (NYSE:BODI) achieved its sixth consecutive quarter of positive adjusted EBITDA, with $3.7 million in Q1 2025. The company successfully reduced its cash breakeven level from over $900 million in 2022 to just under $225 million in 2025. A new $25 million loan facility with Tiger Finance was secured, allowing for the early retirement of previous debt and providing additional capital. The transition from an MLM model to a multi-channel approach, including direct-to-consumer and retail distribution, is expected to enhance growth opportunities. The company is launching new retail initiatives with well-known brands like Shakeology, P90X, and Insanity, aiming to expand its market reach. Total revenues declined 39.7% year over year, impacted by the transition from the MLM model. Digital subscriber count decreased by 16.6% year over year, affecting digital revenue. Nutrition revenue fell 48.4% year over year, with a significant decline in nutrition subscriptions. The affiliate platform has not yet met expectations, requiring further simplification to increase participation. The company is phasing out its connected fitness equipment, such as bikes, which may limit future revenue streams from hardware sales. Q: Can you provide any color on the retention or transition of sellers from the old MLM model to the new direct affiliate model? Is it performing in line with initial expectations? A: Carl Daikeler, CEO: We are pleased with some strong affiliates, but overall, the platform is more institutional than we hoped. We plan to transition to a more user-friendly model in mid-June, which will allow more subscribers to become affiliates. While the current program is productive, we expect growth in the coming quarters with the new platform. Q: How should we think about selling and marketing going forward, and how is management balancing reinvesting savings from the business model change into marketing and brand building? A: Brad Ramberg, Interim CFO: With the new business model, selling and marketing expenses as a percentage of revenue have changed. We will continue to reinvest cash generated into selling and marketing to maximize gross profit dollars, focusing on the relationship between lifetime value and customer acquisition. Q: Can you expand on the changes being made to the affiliate platform and the plan to attract more affiliates? A: Carl Daikeler, CEO: We are partnering with Social Ladder to create a more user-friendly platform that integrates a community for subscribers and an affiliate program within our ecosystem. This approach simplifies the process for affiliates, making it easier for them to promote our programs and earn credit. Q: How are you planning to approach pricing for your nutrition business, especially with the upcoming retail launch? A: Mark Goldston, Executive Chairman: We are focusing more on one-time purchases to bring new people into the franchise, which may lower overall gross margins but increase gross profit. Retail and wholesale margins will differ from direct-to-consumer, but the goal is to drive unit sales and gross profit. Q: Can you provide details on the new credit facility, such as interest rate or covenants, and clarify expectations for growth by the end of 2026? A: Mark Goldston, Executive Chairman: The new loan with Tiger Finance has an interest rate of SOFR plus 9%, resulting in a lower overall cost compared to the previous loan. We expect growth from higher affiliate productivity and the retail initiative, but are not providing specific numerical guidance. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
