Tuesday, September 27, 2022
ICR Inc and Edelman Smithfield represent Nautilus as the Vancouver, WA,-based home exercise equipment company launches a strategic review, which may result in its sale.
Nautilus’ Q1 fiscal 2020 revenues crashed 70 percent to $54.8M as the as the pandemic-driven home exercise boom went bust. Its net loss soared to $60.2M compared to a $13.9M year earlier profit.
The strategic review is designed to give Nautilus time to identify opportunities to accelerate its digital transformation
Its so-called North Star strategy aims to shift Nautilus’ orientation from a product-led hardware company to a consumer-driven, digitally connected company, according to chairman Anne Saunders.
ICR’s John Mills handles the investment community, while Edelman Smithfield’s Ted McHugh field