<div>
 
 Funding
 
 <ul>
 <li>
 
 <a href="https://sp-edge.com/companies/1120418">
 Quell,
 </a>
 a game-based virtual home workouts and lightweight hardware manufacturer, has raised USD 10 million in Series A funding led by Tencent with participation from Khosla Ventures, Heartcore Capital, Social Impact Capital, and entrepreneur Naval Ravikant. The company intends to utilize the funds to further expand software for its fighting game &ldquo;Shardfall,&rdquo; develop its next two games, and expand its team. (February 20, 2023; 
 <a href="https://www.businesswire.com/news/home/20230220005048/en/Quell-Raises-10m-in-a-Series-A-Funding-Round-Led-by-Tencent">
 Press release,
 </a>
 <a href="https://techcrunch.com/2023/02/20/quells-gamified-home-fitness-tech-drums-up-10m/?guccounter=1">
 TechCrunch
 </a>
 ).
 
 </li>
 </ul>
 
 Earnings/results
 
 <ul>
 <li>
 
 <a href="https://sp-edge.com/companies/88276">
 Peloton
 </a>
 reported a loss per share of USD 0.98 for Q2 FY2023, significantly better than the loss per share of USD 1.39 recorded in Q2 FY2022. The company reported total revenue of USD 792.7 million for Q2 FY2023, down by 30.1% YoY compared to Q2 FY2022. The decline in revenue was mainly due to a drop in revenue of connected fitness products (USD 381.4 million in Q2; down by 52.1% YoY), partially offset by the increase in subscription revenue (USD 411.3 million in Q2; up by 21.8% YoY). In Q2 FY2023, Peloton&rsquo;s subscription revenue accounted for 51.9% of its total revenue with the remainder derived from connected fitness products, marking the third consecutive quarter in which Peloton&rsquo;s subscriptions revenue exceeded that of connected fitness product revenue. The company expects to generate total revenue for Q3 FY2023 in the range of USD 690 million&mdash;USD 715 million (implying a YoY decline of 25.9% -28.5%) and an adjusted EBITDA loss in the range of USD 35 million&mdash;USD 50 million (compared to an adjusted EBITDA loss of USD 194 million recorded in Q3 FY2022). (February 1, 2023; 
 <a href="https://investor.onepeloton.com/static-files/13124811-5f25-4103-8fb6-9364f789af57">
 Company earnings release
 </a>
 )
 
 </li>
 <li>
 
 <a href="https://www.crunchbase.com/organization/nautilus">
 Nautilus
 </a>
 reported a loss per share of USD 0.35 for Q3 FY2023; slightly better than the loss per share of USD 0.43 recorded in Q3 FY2022. The company reported total revenue of USD 98.1 million for Q3 FY2023, down by 33.4% YoY compared to Q3 FY2022. The decline in revenue was due to a drop in both direct and retail sales due to demand returning to pre-pandemic levels. It reported a 23.0% YoY decline in the direct sales segment of both cardio (down 8.9% YoY) and strength (down 43.0% YoY) categories. Retail sales dropped 41.0% YoY due to a decline in cardio product sales (down 43.7% YoY) and strength product sales (down 38.9% YoY) for Q3 FY2023. The company expects to generate total revenue of ~USD 270 million for FY2023 (implying a YoY decline of 54.2%). (February 9, 2023; 
 <a href="https://www.businesswire.com/news/home/20230209005648/en/Nautilus-Inc.-Reports-Fiscal-Third-Quarter-2023-Results">
 Press release)
 </a>
 
 </li>
 </ul>
 
 
</div>

New products and new technologies are bringing high-end gym workouts to the home.

Connected Fitness

Monthly News Summary (February 2023)

CLMBR raises an undisclosed sum in Series B funding; launches “CLMBR 02”

Playpulse raises an undisclosed sum in funding; announces launch of “Playpulse One”

Nautilus Q2 FY2023 earnings beat consensus EPS estimates despite revision of management expectations and fall in revenues

Peloton Q1 FY2023 earnings miss analyst estimates amidst decline in equipment sales and revenue

Peloton announces plans to lay off nearly 500 workers

iFIT appoints Kevin Duffy as CEO

Katalyst raises USD 26 million in Series A funding

Peloton announces partnership with sporting retail chain Dick’s Sporting Goods

Peloton expands product offering with the launch of its connected rower

Peloton announces resignation of co-founders and a top executive

Tonal looks to raise USD 100 million in funding

Peloton Q4 FY2022 update: Misses consensus estimates; revenue down and losses mount amid lowered demand

Peloton to sell fitness equipment and apparel on Amazon

Peloton discontinues more in-house functions; announces layoffs and a reversal of price cuts

Nautilus Q1 FY2023 loss per share overshoots analyst estimates; beats revenue predictions

Tempo introduces all-access membership program with one-on-one coaching

Tonal announces layoff of 35% of its workforce

Peloton to cease in-house production; announces layoffs

Hydrow launches Wave to expand product offerings

Nautilus meets Q4 FY2022 analyst EPS estimates but misses revenue predictions; share price plummets

All Updates