Nautilus Group Inc. (NASDAQ: NLS) stock gained by 0.99% at last close whereas the NLS stock plunges by 8.72% in the pre-market trading session. Nautilus is a global pioneer in home fitness systems that are digitally linked. The firm promotes better living through personalized linked exercise experiences, with the goal of improving the world one person at a time.
What’s happening in NLS stock?
Alan Chan has been named Chief Legal Officer of Nautilus, starting August 2. Chan will be in charge of the whole legal strategy for Nautilus, comprising corporate governance and compliance, mergers and acquisitions, and intellectual property. Sarah Jones, the company’s previous corporate controller, has been promoted to Principal Accounting Officer.
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Other Significant Development
Nautilus has signed a license deal with FitOn which is a prominent digital fitness company, to improve the JRNY member experience by making hundreds of off-product exercises available for free through Nautilus’ JRNY digital fitness platform and app. FitOn’s exercise material is now completely integrated with a third-party fitness device solution for the first time.
JRNY members will be able to access and monitor FitOn exercises using their Bowflex linked equipment or the app starting later this year. Users may pick from a range of FitOn’s popular off-product exercises, such as cardio, HIIT, strength, yoga, stretch, and Pilates, as well as different durations.
NLS stock, Financial Highlights
Nautilus announced its second-quarter 2021 financial outcome. The highlights are stated below:
- Total sales were $184.6 million a rise of 61.7 percent from $114.2 million the previous year and climbed 74.4 percent when sales connected to the Octane brand, which was sold in October 2020, were excluded.
- Gross profit was $55.5 million, up 17.1% from $47.4 million in the same period the previous year. This year’s gross margins were 30.1 percent, down from 41.5 percent the previous year.
- When compared to the same time last year, operating expenditures were $37.6 million, a drop of $16.9 million, or 30.9 percent.
- Operating income was $17.9 million, or 9.7% operating margin, a $25.0 million increase over the same quarter last year when it had a loss of $7.1 million.
- In the same quarter last year, total income was $13.9 million, or $0.43 per diluted share, relative to a net loss of $5.1 million, or $0.17 per diluted share.