NLS - Nautilus falls after pulling inventory forward contributes to quarterly loss

Nautilus (NYSE:NLS) traded lower after falling slightly short of the consensus revenue estimate with its FQ4 earnings report. Sales fell 41% against a tough comparable last year when the pandemic helped at-home demand for exercise equipment. Gross profit plunged during the quarter to 17.5% of sales compared to 38.4% last year. The 20.9 ppt decrease in gross margins was primarily due to increased product costs, logistics and discounting and increased investments in JRNY. The exercise equipment seller said the strategic decision to pull forward key technology and marketing investments is paying off, as thh company has increased JRNY members to over 325,000 at the end of the fiscal year to exceed its initial expectations by 30%. Nautilus (NLS) ended the quarter with inventory was $111.2M, down from $128.1M a year ago but up compared to $68.1M a year ago. The increase in inventory compared to a year ago was driven

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Nautilus falls after pulling inventory forward contributes to quarterly loss