VANCOUVER, Wash.–(BUSINESS WIRE)–Nautilus, Inc. (NYSE: NLS) today provided the following update regarding the growth of JRNY®, the company’s personalized connected fitness platform, as well as the departure of Chief Digital Officer Garry Wiseman.
JRNY® Membership Update
From June 30th2022, members of JRNY®, Nautilus’ personalized connected fitness platform, exceeded 360,000, representing approximately 13% sequential growth in the seasonally slower quarter ending June 30th2022 Nautilus remains on track to exceed 500,000 total JRNY® members at the end of fiscal year 2023.
Nautilus continues to enhance the JRNY® platform through many unique features including the expansion of a differentiated visual connected fitness experience for its members. JRNY® members now have access to over 1,400 on-demand instructional videos and can enjoy over 220 locations with the immersive Explore the World feature.
In addition, the company has made great strides over the past two years expanding the number of products that feature JRNY® connectivity. In fiscal year 2022, approximately 80% of total units sold were JRNY® compatible, compared to only 22% in fiscal year 2020. In November 2021, Bowflex SelectTech® workouts launched on the JRNY® platform enabling best-selling SelectTech® 552 and 1090 dumbbells connectivity for JRNY® users.
“Our research shows that our connected offering continues to resonate well with customers. We expect the investments we made in fiscal 2022 and the new investments going forward to drive JRNY® membership growth to reach our goal of over 500,000 members by the end of fiscal 2023,” said CEO Jim Barr. “We are also focused on further unlocking the value of our acquisition of VAY, a leader in vision systems. The integration of VAY’s motion tracking capabilities into JRNY® will further enhance and accelerate our highly personalized strength training options, including adding reps and form training for SelectTech users.”
The departure of Chief Digital Officer Garry Wiseman
The company also announced that Chief Digital Officer Garry Wiseman will be leaving Nautilus to take up a role with another organization effective July 29. Chris Quatrochi, SVP of Innovation and Product Development, whose responsibilities already included JRNY® Engineering, will take over the JRNY® Mr. Wiseman. the role of product management. He will continue to report directly to CEO Jim Barr.
“We thank Garry for his significant contribution to Nautilus,” said Mr Barr. “Garry has been instrumental in setting the direction of JRNY®, laying the foundation for our transformation into a leading digitally enabled home fitness company and hiring several JRNY® product managers. He oversaw growth investments at JRNY® that significantly improved the user experience and drove user adoption. We are confident that we are on track to lead JRNY® through its next phase of growth.”
About Nautilus, Inc.
Nautilus, Inc. (NYSE:NLS) is a global leader in digitally connected home fitness solutions. The company’s family of brands includes Bowflex®, Nautilus®, Schwinn® and JRNY®, its digital fitness platform. With a wide selection of exercise bikes, cardio equipment and strength training products, Nautilus, Inc. empowers healthier living through individualized connected fitness experiences and envisions building a healthier world, one person at a time.
Headquartered in Vancouver, Washington, the company’s products are sold directly to consumers on brand websites and through retail partners and are available throughout the US and around the world. Nautilus, Inc. uses the investor relations page on its website (www.nautilusinc.com/investors) to make information available to its investors and the market.
Forward-looking statements
This press release includes forward-looking statements (statements that are not historical facts) within the meaning of the Private Securities Litigation Reform Act of 1995, including: anticipated, targeted or forecasted financial, operating results and capital expenditures , including but not limited to net sales growth rates, gross margins, operating expenses, operating margins, expected demand for the Company’s new and existing products, statements about the Company’s prospects, resources or capabilities; planned investments, strategic initiatives and expected or targeted results of such initiatives; the effects of the COVID-19 pandemic on the Company’s operations; and planned operational initiatives and expected results of such cost saving initiatives. All of these forward-looking statements are subject to risks and uncertainties that may change at any time. Factors that could cause Nautilus, Inc.’s actual expectations to differ. materially different from these forward-looking statements also include: weaker than expected demand for new or existing products; our ability to timely obtain supplies that meet our quality control standards from foreign sole source manufacturers at acceptable costs; risks associated with current and potential delays, disruptions or disruptions in the supply chain, including shipping delays due to a severe shortage of shipping containers; the inability to pass on or otherwise mitigate the impact of increases in raw material prices and other cost pressures, including unfavorable foreign exchange rates and increased shipping costs; delays and/or higher-than-anticipated costs related to new product launches, entering new markets or strategic initiatives; our ability to hire and retain key management personnel; changes in consumer fitness trends; changes in the media consumption habits of our target consumers or the effectiveness of our media advertising; decline in consumer spending due to unfavorable economic conditions; risks associated with the impact on our business of the COVID-19 pandemic or similar public health crises; softness in the retail market; the availability and timing of capital to fund our strategic initiatives, including the ability to raise capital on favorable terms or at all; changes in financial markets, including changes in credit markets and interest rates that affect our ability to access those markets on favorable terms and the impact of any future impairment. Additional assumptions, risks and uncertainties are detailed in our registration statements, reports and other filings with the Securities and Exchange Commission, including the “risk factors” set forth in our Annual Report on Form 10-K, supplemented by our Quarterly Reports on Form 10 -Q. Such filings are available on our website or at www.sec.gov. We caution you that such statements are not guarantees of future performance and that our actual results may differ materially from those indicated in the forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements to reflect subsequent developments, events or circumstances.
