Wednesday, September 28, 2022
Sept. 28, 2022

Linkedin Pinterest

Vancouver-based Nautilus reports sales fall 70.3 percent in Q2

By , Columbian staff writer

Nautilus ended its second quarter of 2022 with net sales down 70.3 percent compared with the second quarter of 2021, according to the Vancouver-based company’s latest quarterly report.

The report noted that the sales decline was due to a return to pre-pandemic seasonal demand. Net sales were up compared with the second quarter of 2020.

Nautilus’ gross profit was $7 million, compared with $55.5 million this time last year. The company saw a 17.4-point decrease in gross margins. The report blamed the loss on increased discounting, the absorption of unfavorable logistics and increased investments in JRNY, Nautilus’ workout app.

Operating expenses were $58.1 million, an increase of 54.5 percent compared with last year. The report read that this loss was primarily due to a goodwill and intangible impairment charge and an increase in investments in JRNY.

The company trades on the Nasdaq market as NLS. Its stocks closed Wednesday at $2.20 per share.

Support local journalism

Your tax-deductible donation to The Columbian’s Community Funded Journalism program will contribute to better local reporting on key issues, including homelessness, housing, transportation and the environment. Reporters will focus on narrative, investigative and data-driven storytelling.

Local journalism needs your help. It’s an essential part of a healthy community and a healthy democracy.

Community Funded Journalism logo