Nautilus Inc. Rides Into the Holidays With Two New Schwinn® Bikes

Rhea-AI Summary

Nautilus Inc. (NYSE:NLS) has launched the Schwinn® 190 Upright and Schwinn® 290 Recumbent Bikes, designed for home fitness enthusiasts. Both models feature connectivity to the JRNY® adaptive fitness platform, Terrain Control Technology, and ergonomic designs to accommodate various fitness levels. With prices set at $899 and $999 respectively, they aim to provide quality at an affordable cost. A survey shows 62% of U.S. adults are committed to home workouts, reflecting a shift in consumer behavior towards at-home fitness solutions.

Positive

• Launch of Schwinn® 190 and Schwinn® 290 bikes enhances product lineup.
• Both models feature connectivity to JRNY® platform, appealing to tech-savvy consumers.
• Products are priced competitively at $899 and $999, which may attract budget-conscious customers.

Negative

• Risks associated with inventory acquisition and supply chain disruptions.
• Potential decline in consumer spending due to unfavorable economic conditions.

Value is showcased with innovative new products that include a wide variety of available workouts, JRNY® connectivity, Terrain Control Technology, and an affordable price point

VANCOUVER, Wash.--(BUSINESS WIRE)-- This year, don’t let the holidays be a burden to your wallet or waist. Instead, find your best workout at a price you can afford with two new bikes from Schwinn®, the trusted brand in home fitness bike technology.

(Photo: Business Wire)

Nautilus, Inc. (NYSE: NLS), an innovation leader in home fitness for more than 35 years, today introduced the Schwinn® 190 Upright and Schwinn® 290 Recumbent Bikes. Both bikes are connectable to the JRNY® digital fitness platform, feature Terrain Control Technology, and new design elements and functionality suitable for all fitness levels.

“We know it’s a challenging economy, and our research tells us that consumers are sticking with home fitness for their health and wellbeing, even as they’re watching their budgets,” said Jim Barr, CEO, Nautilus Inc. “Designed with consumers in mind, the Schwinn® 190 and 290 bikes prioritize – rather than sacrifice – the key features, affordable price point, and functionality that deliver on their wants and needs.”

Consumers’ long-term habits have shifted over the last two years to favor home fitness. In fact, 62% of U.S. adults surveyed in August 2022 by YouGov said they consistently worked out at home – up from 43% who reported the same at the beginning of 2020.¹

“We are continuing to elevate the home fitness experience with innovative products that deliver on both quality and price,” said Barr. “Paired with our JRNY® adaptive fitness platform, consumers can immerse themselves in workouts that adapt to their fitness level – not just in this moment, but for years to come. We are helping consumers invest in themselves – in fitness that feels different.”

The Schwinn® 190 and 290 bikes offer high-performance cardio combined with the ability to pair the user’s device to the JRNY® adaptive fitness platform. Terrain Control Technology automatically adjusts resistance with elevation changes in your ride when you experience select Explore the World workouts in the JRNY® platform. The bikes’ built-in media shelf makes it easy to explore new and personalized JRNY® workout experiences by using a tablet or phone (available on iOS and Android devices).

Schwinn® 190 Upright and Schwinn® 290 Recumbent Bikes

The JRNY® adaptive fitness membership provides access to Explore the World routes, JRNY® radio, and trainer-led workouts. Additional features include:

• Connected fitness: Connectivity to JRNY® and Zwift apps; Bluetooth connectivity for speakers, smart devices, and heart rate monitors
• Comfort: Step-thru design; weighted, strapped pedals; adjustable handlebars; foam comfort seat
• Convenience: Easy-to-reach media shelf, water bottle holder, transport wheels, and compact design

The Schwinn® 190 Upright Bike ($899 MSRP) and Schwinn® 290 Recumbent Bike ($999 MSRP) are available for purchase online at SchwinnFitness.com and at select retailers.

For a limited time, new JRNY® customers will receive a free trial. Following the free trial, members will subscribe for $149 per year ($19.99/month) to access JRNY® workouts for the Schwinn® 190 Upright Bike and Schwinn® 290 Recumbent Bike on their mobile device or tablet.

About JRNY® Adaptive Fitness Membership

The JRNY® adaptive fitness membership offers personalized cardio and whole-body workouts that evolve as you do. It learns with each use by assessing your fitness level and recommending workouts based on your abilities, available time, mood and more. With streaming entertainment, an ever-growing library of whole-body workout content, and real-time coaching, this fitness experience works seamlessly with compatible equipment and on your mobile device.

For more information about the JRNY® adaptive fitness membership, please visit: https://www.jrny.com.

About Nautilus, Inc.

Nautilus, Inc. (NYSE:NLS) is a global leader in digitally connected home fitness solutions. The Company’s brand family includes Bowflex®, Nautilus®, Schwinn®, and JRNY®, its digital fitness platform. With a broad selection of exercise bikes, cardio equipment, and strength training products, Nautilus, Inc. empowers healthier living through individualized connected fitness experiences, and in doing so, envisions building a healthier world, one person at a time.

Headquartered in Vancouver, Washington, the company’s products are sold direct to consumer on brand websites and through retail partners and are available throughout the U.S. and internationally. Nautilus, Inc. uses the investor relations page of 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 which are not historical facts) within the meaning of the Private Securities Litigation Reform Act of 1995, including: projected, targeted or forecasted financial, operating results and capital expenditures, including but not limited to net sales growth rates, gross margins, operating expenses, operating margins, anticipated demand for the Company's new and existing products, statements regarding the Company's prospects, resources or capabilities; planned investments, strategic initiatives and the anticipated or targeted results of such initiatives; the effects of the COVID-19 pandemic on the Company’s business; and planned operational initiatives and the anticipated cost-saving results of such 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 from these forward-looking statements also include: weaker than expected demand for new or existing products; our ability to timely acquire inventory that meets our quality control standards from sole source foreign manufacturers at acceptable costs; risks associated with current and potential delays, work stoppages, or supply chain disruptions, including shipping delays due to the severe shortage of shipping containers; an inability to pass along or otherwise mitigate the impact of raw material price increases and other cost pressures, including unfavorable currency exchange rates and increased shipping costs; experiencing delays and/or greater than anticipated costs in connection with launch of new products, entry into 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; a decline in consumer spending due to unfavorable economic conditions; risks related to the impact on our business of the COVID-19 pandemic or similar public health crises; softness in the retail marketplace; availability and timing of capital for financing our strategic initiatives, including being able to raise capital on favorable terms or at all; changes in the 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 described in detail 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, as supplemented by our quarterly reports on Form 10-Q. Such filings are available on our website or at www.sec.gov. You are cautioned that such statements are not guarantees of future performance and that our actual results may differ materially from those set forth in the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent developments, events, or circumstances.

¹All cited figures, unless otherwise stated, are from a survey conducted by YouGov Plc on behalf of Nautilus, Inc. Total sample size was 2,580 adults. The figures have been weighted and are representative of all US adults (18+). Fieldwork was undertaken between August 15 – August 30^th 2022. Participants completed the survey online.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221107005386/en/

Investor Relations:

John Mills

ICR, LLC

646-277-1254

John.Mills@icrinc.com

Media:

John Fread

Nautilus, Inc.

360-859-5815

jfread@nautilus.com

Alexa Weber

Action Mary

(425) 760-6590

alexa.weber@actionmary.com

Source: Nautilus, Inc.

FAQ

What are the new products introduced by Nautilus on November 7, 2022?

Nautilus introduced the Schwinn® 190 Upright and Schwinn® 290 Recumbent Bikes.

What is the price of Schwinn 190 Upright and Schwinn 290 Recumbent Bikes?

The Schwinn 190 Upright Bike is priced at $899, while the Schwinn 290 Recumbent Bike is priced at $999.

What features do the Schwinn bikes offer?

The bikes feature JRNY® connectivity, Terrain Control Technology, and ergonomic designs suitable for all fitness levels.

How does the JRNY® adaptive fitness platform enhance the Schwinn bikes?

The JRNY® platform offers personalized workouts that adapt to user fitness levels and preferences.

What percentage of U.S. adults prefer home workouts according to the survey mentioned?

62% of U.S. adults reported they consistently workout at home.