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Beachbody Co., Inc. – ‘10-K’ for 12/31/23 – ‘EX-31.2’

On:  Monday, 3/11/24, at 5:10pm ET   ·   For:  12/31/23   ·   Accession #:  950170-24-29409   ·   File #:  1-39735

Previous ‘10-K’:  ‘10-K/A’ on 4/28/23 for 12/31/22   ·   Latest ‘10-K’:  This Filing   ·   22 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/11/24  Beachbody Co., Inc.               10-K       12/31/23  129:17M                                    Donnelley … Solutions/FA

Annual Report   —   Form 10-K   —   SEA’34

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   3.72M 
 2: EX-3.1      Articles of Incorporation/Organization or Bylaws    HTML    165K 
 3: EX-21.1     Subsidiaries List                                   HTML     35K 
 4: EX-23.1     Consent of Expert or Counsel                        HTML     35K 
 5: EX-23.2     Consent of Expert or Counsel                        HTML     37K 
 9: EX-97.1     Clawback Policy re: Recovery of Erroneously         HTML     51K 
                Awarded Compensation                                             
 6: EX-31.1     Certification -- §302 - SOA'02                      HTML     41K 
 7: EX-31.2     Certification -- §302 - SOA'02                      HTML     41K 
 8: EX-32.1     Certification -- §906 - SOA'02                      HTML     40K 
11: R1          Cover Page                                          HTML    115K 
12: R2          Consolidated Balance Sheets                         HTML    146K 
13: R3          Consolidated Balance Sheets (Parentheticals)        HTML     64K 
14: R4          Consolidated Statements of Operations               HTML    134K 
15: R5          Consolidated Statements of Comprehensive Loss       HTML     66K 
16: R6          Consolidated Statements of Stockholders' Equity     HTML     93K 
17: R7          Consolidated Statements of Cash Flows               HTML    160K 
18: R8          Description of Business and Summary of Significant  HTML    130K 
                Accounting Policies                                              
19: R9          Revenue                                             HTML     57K 
20: R10         Fair Value Measurements                             HTML    240K 
21: R11         Inventory, Net                                      HTML     52K 
22: R12         Other Current Assets                                HTML     52K 
23: R13         Property and Equipment, Net                         HTML     83K 
24: R14         Content Assets, Net                                 HTML     51K 
25: R15         Goodwill                                            HTML     64K 
26: R16         Intangible Assets, Net                              HTML    100K 
27: R17         Accrued Expenses                                    HTML     65K 
28: R18         Debt                                                HTML     85K 
29: R19         Leases                                              HTML    120K 
30: R20         Commitments and Contingencies                       HTML     57K 
31: R21         Restructuring                                       HTML     70K 
32: R22         Stockholders' Equity                                HTML     94K 
33: R23         Equity-Based Compensation                           HTML    214K 
34: R24         Derivative Financial Instruments                    HTML     76K 
35: R25         Income Taxes                                        HTML    193K 
36: R26         Employee Benefit Plan                               HTML     39K 
37: R27         Earnings (Loss) Per Share                           HTML     86K 
38: R28         Related Party Transactions                          HTML     46K 
39: R29         Parent Only Financial Statements                    HTML    117K 
40: R30         Subsequent Events                                   HTML     48K 
41: R31         Financial Statement Schedule                        HTML     50K 
42: R32         Description of Business and Summary of Significant  HTML    189K 
                Accounting Policies (Policies)                                   
43: R33         Revenue (Tables)                                    HTML     50K 
44: R34         Fair Value Measurements (Tables)                    HTML    232K 
45: R35         Inventory, Net (Tables)                             HTML     48K 
46: R36         Other Current Assets (Tables)                       HTML     51K 
47: R37         Property and Equipment, Net (Tables)                HTML     81K 
48: R38         Content Assets, Net (Tables)                        HTML     47K 
49: R39         Goodwill (Tables)                                   HTML     50K 
50: R40         Intangible Assets, Net (Tables)                     HTML     92K 
51: R41         Accrued Expenses (Tables)                           HTML     60K 
52: R42         Debt (Tables)                                       HTML     50K 
53: R43         Leases (Tables)                                     HTML    113K 
54: R44         Commitments and Contingencies (Tables)              HTML     46K 
55: R45         Restructuring (Tables)                              HTML     64K 
56: R46         Stockholders' Equity (Tables)                       HTML     71K 
57: R47         Equity-Based Compensation (Tables)                  HTML    191K 
58: R48         Derivative Financial Instruments (Tables)           HTML     75K 
59: R49         Income Taxes (Tables)                               HTML    190K 
60: R50         Earnings (Loss) Per Share (Tables)                  HTML     82K 
61: R51         Parent Only Financial Statements (Tables)           HTML    111K 
62: R52         Description of Business and Summary of Significant  HTML    161K 
                Accounting Policies - Additional Information                     
                (Details)                                                        
63: R53         Revenue - Disaggregation of Revenue (Details)       HTML     47K 
64: R54         Revenue - Additional Information (Details)          HTML     41K 
65: R55         Revenue - Additional Information (Details)1         HTML     43K 
66: R56         Fair Value Measurements - Summary of Fair Value     HTML     82K 
                Measurements, Recurring and Nonrecurring (Details)               
67: R57         Fair Value Measurements - Summary of Fair Value of  HTML     70K 
                Significant Assumptions Utilized in the Valuation                
                (Details)                                                        
68: R58         Fair Value Measurements - Summary of Change in the  HTML     60K 
                Fair Value of the Warrants (Details)                             
69: R59         Fair Value Measurements -Additional Information     HTML     63K 
                (Details)                                                        
70: R60         Fair Value Measurements - Summary of Fair Value,    HTML     49K 
                Assets Measured on Nonrecurring Basis Using                      
                Unobservable Inputs (Details)                                    
71: R61         Inventory, Net - Schedule of Inventory, Current     HTML     42K 
                (Details)                                                        
72: R62         Inventory, Net - Additional Information (Details)   HTML     41K 
73: R63         Other Current Assets - Summary of Other Current     HTML     45K 
                Assets (Details)                                                 
74: R64         Property and Equipment, Net - Summary of Property   HTML     57K 
                and Equipment, Net (Details)                                     
75: R65         Property and Equipment, Net - Additional            HTML     56K 
                Information (Details)                                            
76: R66         Property and Equipment, Net - Summary of            HTML     46K 
                Depreciation Expense Related to Property and                     
                Equipment (Details)                                              
77: R67         Content Assets, Net - Summary of Film Cost          HTML     41K 
                (Details)                                                        
78: R68         Content Assets, Net - Additional Information        HTML     47K 
                (Details)                                                        
79: R69         Acquisitions - Summary of Recognized Identified     HTML     39K 
                Assets Acquired and Liabilities Assumed (Details)                
80: R70         Goodwill - Summary of Goodwill (Details)            HTML     43K 
81: R71         Goodwill - Additional Information (Details)         HTML     62K 
82: R72         Intangible Assets, Net - Schedule of Intangible     HTML     60K 
                Assets (Details)                                                 
83: R73         Intangible Assets, Net (Additional Information)     HTML     54K 
                (Details)                                                        
84: R74         Accrued Expenses - Summary of Accrued Expenses      HTML     52K 
                (Details)                                                        
85: R75         Accrued Expenses - Additional Information           HTML     63K 
                (Details)                                                        
86: R76         Debt - Additional Information (Details)             HTML    165K 
87: R77         Debt - Schedule of Aggregate Amounts of Payments    HTML     56K 
                Due and Reconciliation of Debt Balances, Net of                  
                Debt Discount and Debt Issuance Costs (Details)                  
88: R78         Leases - Additional Information (Details)           HTML     66K 
89: R79         Leases - Summary of Lease Cost (Details)            HTML     50K 
90: R80         Leases - Summary of Lease Other Information         HTML     54K 
                (Details)                                                        
91: R81         Leases - Summary of Maturities of Operating and     HTML     68K 
                Finance Lease Liabilities, Excluding Short-term                  
                Leases (Details)                                                 
92: R82         Commitments and Contingencies - Additional          HTML     50K 
                Information (Details)                                            
93: R83         Commitments and Contingencies - Summary of          HTML     47K 
                Purchase Obligation, Fiscal Year Maturity                        
                (Details)                                                        
94: R84         Restructuring - Additional Information (Details)    HTML     47K 
95: R85         Restructuring - Summary of Restructuring Related    HTML     48K 
                Liability and Restructuring Costs Activity                       
                (Details)                                                        
96: R86         Stockholders' Equity - Additional Information       HTML    131K 
                (Details)                                                        
97: R87         Stockholders' Equity - Summarize Changes in         HTML     63K 
                Accumulated Other Comprehensive Income (Loss), Net               
                of Tax (Details)                                                 
98: R88         Equity-Based Compensation - Additional Information  HTML    205K 
                (Details)                                                        
99: R89         Equity-Based Compensation - Summary of the Option   HTML     74K 
                Activity under the Equity Compensation Plans                     
                (Details)                                                        
100: R90         Equity-Based Compensation - Summary of the          HTML     65K  
                Unvested Option Activity (Details)                               
101: R91         Equity-Based Compensation - Summary of RSU          HTML     65K  
                Activity (Details)                                               
102: R92         Equity-Based Compensation - Summary of Assumptions  HTML     61K  
                Used to Determine the Fair Value of Option Grants                
                (Details)                                                        
103: R93         Equity-Based Compensation - Summary of              HTML     47K  
                Equity-Based Compensation Expense (Details)                      
104: R94         Derivative Financial Instruments - Additional       HTML     57K  
                Information (Details)                                            
105: R95         Derivative Financial Instruments - Summary of       HTML     48K  
                Derivative Instrument (Details)                                  
106: R96         Derivative Financial Instruments - Summary of       HTML     46K  
                Pre-Tax Effects of the Company's Derivative                      
                Instruments on its Unaudited Condensed                           
                Consolidated Statements of Operations (Details)                  
107: R97         Income Taxes - Components of Loss Before Income     HTML     45K  
                Taxes (Details)                                                  
108: R98         Income Taxes - Components of Income Tax Benefit     HTML     63K  
                (Provision) (Details)                                            
109: R99         Income Taxes - Additional Information (Details)     HTML     57K  
110: R100        Income Taxes - Actual Tax Rate on Loss Before       HTML     59K  
                Income Taxes Reconciles (Details)                                
111: R101        Income Taxes - Schedule of Components of Deferred   HTML     79K  
                Tax Assets and Liabilities (Details)                             
112: R102        Income Taxes - Summary of Activity Related to       HTML     44K  
                Gross Unrecognized Tax Benefits (Details)                        
113: R103        Employee Benefit Plan - Additional Information      HTML     43K  
                (Details)                                                        
114: R104        Earnings (Loss) Per Share - Summary of the          HTML     66K  
                Computation of Loss Per Share of Class A and Class               
                X Common Stock (Details)                                         
115: R105        Earnings (Loss) per Share - Additional Information  HTML     78K  
                (Details)                                                        
116: R106        Earnings (Loss) Per Share - Summary of Common       HTML     58K  
                Shares That Are Excluded From the Computation of                 
                Diluted Net Loss Per Common Share (Details)                      
117: R107        Related Party Transactions - Additional             HTML     48K  
                Information (Details)                                            
118: R108        Segment Information - Additional Information        HTML     39K  
                (Details)                                                        
119: R109        Parent Only Financial Statements - Condensed        HTML    120K  
                Balance Sheet (Details)                                          
120: R110        Parent Only Financial Statements - Condensed        HTML     46K  
                Balance Sheet (Parenthetical) (Details)                          
121: R111        Parent Only Financial Statements - Condensed        HTML     45K  
                Statement of Operations and Comprehensive Loss                   
                (Details)                                                        
122: R112        Parent Only Financial Statements - Condensed        HTML     97K  
                Statement of Cash Flows (Details)                                
123: R113        Subsequent Events - Additional Information          HTML     84K  
                (Details)                                                        
124: R114        Financial Statement Schedule - (Details)            HTML     45K  
126: XML         IDEA XML File -- Filing Summary                      XML    249K  
129: XML         XBRL Instance -- body-20231231_htm                   XML   3.89M  
125: EXCEL       IDEA Workbook of Financial Report Info              XLSX    265K  
10: EX-101.SCH  XBRL Taxonomy Extension Schema With Embedded         XSD   6.85M 
                Linkbases Document -- body-20231231                              
127: JSON        XBRL Instance as JSON Data -- MetaLinks              825±  1.37M  
128: ZIP         XBRL Zipped Folder -- 0000950170-24-029409-xbrl      Zip    766K  


‘EX-31.2’   —   Certification — §302 – SOA’02


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  EX-31.2  

Exhibit 31.2

CERTIFICATION PURSUANT TO

RULES 13a-14(a) AND 15d-14(a) UNDER THE SECURITIES EXCHANGE ACT OF 1934,

AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

 

I, Marc Suidan, certify that:

1.
I have reviewed this Annual Report on Form 10-K of The Beachbody Company, Inc.;
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c)
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d)
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting;
5.
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: March 11, 2024

By:

/s/ Marc Suidan

Marc Suidan

Chief Financial Officer

(Principal Financial and Accounting Officer)



Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:3/11/248-K
For Period end:12/31/23
 List all Filings 


4 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/06/24  Beachbody Co., Inc.               424B3                  1:1.6M                                   Donnelley … Solutions/FA
 5/06/24  Beachbody Co., Inc.               10-Q        3/31/24   81:9.7M                                   Donnelley … Solutions/FA
 4/30/24  Beachbody Co., Inc.               S-1/A                123:12M                                    Donnelley … Solutions/FA
 4/30/24  Beachbody Co., Inc.               POS AM               123:13M                                    Donnelley … Solutions/FA


18 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/05/24  Beachbody Co., Inc.               8-K:1,7,8,9 2/29/24   10:261K                                   Donnelley … Solutions/FA
 1/12/24  Beachbody Co., Inc.               8-K:1,9     1/09/24   10:855K                                   Donnelley … Solutions/FA
12/13/23  Beachbody Co., Inc.               8-K:1,3,7,912/10/23   16:768K                                   Donnelley … Solutions/FA
11/27/23  Beachbody Co., Inc.               8-K:3,5,8,911/20/23   13:291K                                   Donnelley … Solutions/FA
11/07/23  Beachbody Co., Inc.               10-Q        9/30/23   87:13M                                    Donnelley … Solutions/FA
 7/26/23  Beachbody Co., Inc.               8-K:1,2,9   7/24/23   13:1.3M                                   Donnelley … Solutions/FA
 6/15/23  Beachbody Co., Inc.               8-K:5,8,9   6/14/23   16:449K                                   Donnelley … Solutions/FA
 3/16/23  Beachbody Co., Inc.               10-K       12/31/22  134:22M                                    Donnelley … Solutions/FA
 8/08/22  Beachbody Co., Inc.               10-Q        6/30/22   91:16M                                    Donnelley … Solutions/FA
 5/09/22  Beachbody Co., Inc.               10-Q        3/31/22   89:11M                                    Donnelley … Solutions/FA
 3/01/22  Beachbody Co., Inc.               10-K       12/31/21  132:21M                                    Donnelley … Solutions/FA
11/15/21  Beachbody Co., Inc.               10-Q        9/30/21  122:18M                                    Donnelley … Solutions/FA
 7/09/21  Beachbody Co., Inc.               8-K:1,4,5,9 7/02/21    8:457K                                   Donnelley … Solutions/FA
 7/01/21  Beachbody Co., Inc.               8-K:1,2,3,5 6/25/21   10:2.4M                                   Donnelley … Solutions/FA
 5/27/21  Beachbody Co., Inc.               S-4/A                  5:7.2M                                   Donnelley … Solutions/FA
 5/10/21  Beachbody Co., Inc.               S-4/A                  8:293K                                   Donnelley … Solutions/FA
 2/16/21  Beachbody Co., Inc.               8-K/A:1,3,8 2/09/21    6:924K                                   Donnelley … Solutions/FA
12/01/20  Beachbody Co., Inc.               8-K:1,3,5,811/24/20   11:1M                                     EdgarAgents LLC/FA
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