Nautilus, Inc.

Who owns Nautilus, Inc.?
Nautilus, Inc. is an independent, publicly traded company listed on NYSE (NLS). The company has no controlling shareholder and is owned by institutional investors, mutual funds, and individual shareholders.

Is Nautilus, Inc. publicly traded?
Yes, Nautilus, Inc. is publicly traded on the New York Stock Exchange under ticker NLS.

What brands does Nautilus own?
Nautilus, Inc. owns the Bowflex, Schwinn, and Nautilus fitness brands, as well as the JRNY digital fitness platform.

What happened to Nautilus after the pandemic?
Nautilus experienced a surge in revenue during the COVID-19 pandemic (approximately $560 million in FY2021) as gym closures drove consumers to purchase home fitness equipment. As gyms reopened, home fitness demand declined sharply, and Nautilus's revenues fell to approximately $191 million in FY2024.

When was Nautilus, Inc. founded?
The corporate entity was founded in 1986 as Direct Focus, Inc. The company acquired the Bowflex brand in 1999, the Nautilus brand in 2001, and the Schwinn Fitness brand in 2002, renaming itself Nautilus, Inc. in 2003.

What is JRNY?
JRNY is Nautilus's digital fitness platform that provides workout content, coaching, and personalized training programs for Bowflex and Nautilus connected fitness equipment. JRNY competes with Peloton's digital platform and iFIT's platform.

The Nautilus brand has a longer history than Nautilus, Inc. as a corporate entity. Arthur Jones invented the original Nautilus exercise machines in the 1970s, pioneering the concept of variable resistance training using a cam-based mechanism. Jones's machines were revolutionary, providing more effective strength training than traditional free weights by maintaining constant resistance throughout the range of motion.

Jones founded Nautilus Sports/Medical Industries in the 1970s to manufacture and sell his machines. Nautilus machines became standard equipment in gyms and fitness centers throughout the 1970s and 1980s, and the Nautilus name became synonymous with strength training equipment.

The corporate entity that became Nautilus, Inc. was founded in 1986 as Direct Focus, Inc. in Vancouver, Washington. Direct Focus initially operated as a direct-to-consumer marketing company.

In 1999, Direct Focus acquired the Bowflex brand and its home fitness equipment business. Bowflex had been founded in 1986 and was known for its home gym systems using resistance rods rather than traditional weights. The acquisition gave Direct Focus a strong direct-to-consumer fitness brand.

In 2001, Direct Focus acquired the Nautilus brand and its commercial fitness equipment business from the original Nautilus company. The acquisition gave Direct Focus the iconic Nautilus brand and its commercial gym equipment.

In 2002, Direct Focus acquired the Schwinn Fitness brand (the fitness equipment division of the Schwinn bicycle company, not the bicycle brand itself). Schwinn Fitness was known for its indoor cycling bikes and other cardio equipment.

In 2003, Direct Focus renamed itself Nautilus, Inc. to reflect its ownership of the iconic Nautilus brand.

Nautilus, Inc. grew significantly in the 2000s, driven by strong direct-to-consumer sales of Bowflex home gyms and Nautilus treadmills. The company generated hundreds of millions of dollars in annual revenue.

The 2008-2009 recession hit Nautilus hard, as consumers cut back on discretionary spending including fitness equipment. The company underwent significant restructuring, reducing its workforce and focusing on its most profitable products.

In the 2010s, Nautilus faced increasing competition from Peloton and other connected fitness companies that combined exercise equipment with digital content subscriptions. Nautilus responded by developing its own connected fitness products, including the Bowflex VeloCore bike and the JRNY digital fitness platform.

The COVID-19 pandemic created a surge in home fitness demand in 2020-2021, as gym closures drove consumers to purchase home exercise equipment. Nautilus benefited significantly from this trend, with revenues surging to approximately $560 million in fiscal year 2021.

However, as gyms reopened and consumers returned to in-person fitness, home fitness demand declined sharply in 2022 and 2023. Nautilus's revenues fell dramatically, from approximately $560 million in FY2021 to approximately $191 million in FY2024.

The company has undertaken significant cost reduction measures and strategic restructuring in response to the revenue decline.

Nautilus has faced scrutiny related to its significant revenue decline following the post-pandemic normalization of fitness behavior. The company's stock price has fallen dramatically from its pandemic highs, and the company has faced questions about its long-term viability.

The company has also faced product safety issues, including recalls of certain treadmill models due to safety concerns.

Nautilus's JRNY digital fitness platform has faced competition from well-funded competitors including Peloton's digital platform and iFIT's platform, which have larger content libraries and more established user bases.