The Beachbody Company, Inc.

Good afternoon, ladies and gentlemen. Welcome to the Beachbody Company's third quarter 2022 earnings call. Currently, all participants are on listen mode only. Following the presentation, we will conduct a question and answer session. Instructions will be provided at the time for you to queue up for questions. If anyone has any difficulties hearing the conference, please press star zero for operator assistance at that time. I would like to remind everyone that this conference is being recorded. And I will now turn over the conference to Eddie Plank, Beach Bodies Group, Vice President of Investor Relations.

Welcome, everyone, and thank you for joining us for our third quarter 2022 earnings call. With me on the call today are Carl Deichler, Co-Founder, Chairman, and Chief Executive Officer of the Beach Body Company, and Mark Sweden, Chief Financial Officer. Following Carl's and Mark's prepared remarks, we'll open the call up for questions. Before we get started, I would like to remind you of the company's safe harbor language. The statements contained in this conference call, which are not historical facts, may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual future results may differ materially from those suggested in such statements due to a number of risks and uncertainties, all of which are described in the company's filings with the SEC, which includes today's press release. Today's call will include references to non-GAAP financial measures, such as adjusted EBITDA. The reconciliation of these non-GAAP financial measures to the most comparable GAAP financial measures is available within the earnings release, which can be found on our website. Now, I would like to turn the call over to Carl.

Thank you, Eddie, and good afternoon, everyone. Our company delivered third quarter revenue and adjusted EBITDA results that were ahead of our guidance. reflecting solid progress on our efforts to stabilize business performance as we implement strategic actions to return it to growth. At the core, we've taken steps to operate more efficiently and made adjustments to pricing and bundle strategies to improve overall performance with encouraging initial results. As part of our efforts, we're laser focused on taking the actions necessary to return to positive cash flow. It's no secret that we're pursuing this goal amid substantial challenges facing our entire industry. As pioneers in the fitness space, we've navigated through many challenging times before and come out of each period stronger. In fact, we've emerged from every economic downturn in better shape than how we entered it, and I expect this to be no different. We know empirically that The number of Americans who are obese or suffering from lifestyle-related diseases continues to rise despite no lack of fitness and nutrition resources intended to reverse these trends. Yet, the entire industry is facing substantial challenges in breaking through and growing their user bases. We think there's something the industry at large is missing. And to serve the largest TAM, We believe what's required in this environment is simplicity and solutions that are appropriately sized and designed for a customer's goals. While I'm not going into detail today, I will say we have the resources to do just that. You're going to see it in the way we position the business and our products throughout the coming year. And we're confident this solution will be the one to break through to the tens of millions of Americans who we know want to get healthy and feel great with the right mix of content and nutrition. As an initial step to help more people get started, we've recently launched two bundle subscription options. First, the bod and body bundle for $179. And second, the body bike studio bundle, including the bike for just $50 a month. That's an incredible offer. And with respect to nutrition, Our recent decision to simplify how we present various offer options, coupled with the recent expansion of Shakeology from being a healthy smoothie to actually being a gourmet superfood dessert has been very well received. We're excited and confident about these changes and others rolling out over the next six months. And I look forward to sharing more details as things evolve. Our commitment to help people live healthy, fulfilling lives is unwavering and personally, As the largest shareholder in the company, that's the principal investment thesis that stands out across the industry. Today, we serve over 2 million members and leverage a vast coach network who help drive profitable customer acquisition. Our coach network is a major strategic advantage. Taken together, we see the opportunity to dramatically expand our market, which is key, not only to create value for shareholders, but to reverse the trend of obesity and lifestyle disease with the healthiest prescription in the world, effective fitness and nutrition solutions. While we've been at this for over 23 years, I believe this is just the beginning. This current environment and our plans for the coming months with all these tools and our experienced management team represent an opportunity to help millions of people take the first step to improving their health with long-term success. We're making progress right now by pulling the appropriate levers to remain efficient. but also have line of sight to a more dramatic chapter of growth ahead. Okay, now let me turn it over to our CFO, Mark Sweetan, with the details of the quarter. Mark?