BODi announced the launch of its next flagship fitness program, P90X Generation Next, with a scheduled release on February 3 2026. The program is led by Waz Ashayer, a prominent Equinox instructor, and represents a full redesign of the P90X brand to incorporate the latest functional training science and a new subscription model that aligns with the company’s shift away from its former multi‑level marketing structure.
BODi’s Q2 2025 results showed a 42% year‑over‑year decline in revenue to $63.9 million, the largest drop in the company’s history, but the company also reported seven consecutive quarters of positive adjusted EBITDA, with Q2 2025 at $4.6 million. Gross margin improved to 72.3%, a 300‑basis‑point gain driven by tighter cost controls and a more favorable mix of digital‑only subscriptions versus lower‑margin nutrition sales. The revenue decline is largely attributed to the transition from an MLM model to a single‑level affiliate network, which has reduced the volume of high‑margin direct‑to‑consumer sales but is expected to lower long‑term cost of customer acquisition.
The company’s guidance for Q3 2025 projects revenue between $51 million and $58 million, a modest range that reflects management’s caution amid the revenue contraction but confidence in maintaining profitability. BODi also reiterated its goal of achieving positive free cash flow for the full year 2025, a milestone it has not reached since 2020. The guidance signals that while top‑line growth is under pressure, the company believes its cost discipline and margin expansion will sustain cash‑flow generation.
The launch of P90X Generation Next is a key element of BODi’s turnaround strategy. By re‑introducing a globally recognized brand with a modernized training approach, the company aims to accelerate subscriber acquisition and retention, thereby offsetting the revenue decline from its legacy business model. The program’s release is positioned to strengthen BODi’s competitive stance against other digital fitness platforms and to support the company’s broader omnichannel expansion, including new distribution channels for its nutrition and connected‑fitness products.
CEO Carl Daikeler said, “P90X remains one of the most powerful names in fitness, and with ‘P90X Generation Next,’ we’ve redesigned it from the bottom up to use the latest in functional program design for extreme transformation and performance.” Ashayer added, “Fitness has always been about unlocking inner strength and pushing past limits. Carrying the P90X legacy forward is an incredible honor, and I’m dedicated to inspiring people to exceed their own expectations.” Investors have expressed caution due to the sustained revenue decline, but the company’s positive EBITDA, margin improvement, and clear focus on a high‑profile product launch provide a foundation for future growth.
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