The iFit IPO hits the Nasdaq on October 6. Investors want to know the details of the company’s recent IPO announcement. Here is the latest information …
IFit IPO: About the company
iFit is a global leader in health and fitness based in Logan, Utah. The company’s products and services provide an immersive and personalized training experience for people of all skill levels and interests. Consumers can access live and on-demand content across a range of connected fitness modalities.
iFit offers a unique experience through software, experiential content and interactive hardware. A variety of fitness equipment is available for interactive use by guests. This includes treadmills, bikes, ellipticals, rowers, climbers, weight training equipment, fitness mirrors, yoga equipment, and accessories. The company has over six million total members and 1.5 million fitness subscribers in over 120 countries.
iFit is the leading supplier of full-size fitness equipment in the United States. The company offers products and services through its state-of-the-art fitness equipment subsidiary. This includes NordicTrack, ProForm, Freemotion, Weider, 29029, and Sweat.
iFIT Health & Fitness was previously known as ICON Health & Fitness until June of this year. One of the company’s brands, Freemotion Fitness, changed its name to Freemotion as iFit as part of the rebranding. And the company continues to grow by acquiring companies. In July, the company acquired a company named 29029 which offers the experience of climbing Mount Everest. The company also acquired Sweat, a leading digital fitness app for women.
If you’re interested in other fitness-related investment opportunities, check out these sports stocks to consider investing in.
In fiscal 2021, iFit sold approximately 10.1 million interactive fitness products. Its finances reflect the growth of the business. We’ll take a look …
IFit IPO: financial information
Detailed financial information can be found in the iFit IPO prospectus, giving you a better overview of the company’s finances. If you’re looking for IFIT stocks, let’s take a look at the details.
iFit highlights some key information for investors. The income statement and balance sheet data of the company are summarized as follows …
Total income: The company recorded an increase in its total turnover. iFit recorded $ 851.7 million in total revenue for the fiscal year ended May 2020. As of May 2021, iFit reported more than $ 1.7 billion for the year.
Gross profit: IFit’s gross profit has more than doubled in the past year. The company reported gross profit of $ 329 million for fiscal 2020. In 2021, the iFit reported gross profit of more than $ 726.2 million.
Net income (net loss): IFit’s net losses increased. For the fiscal year ended May 2020, the company recorded a net loss of $ 98.5 million. In 2021, the company’s net losses increased to more than $ 516.7 million
Species: IFit’s cash flow continues to increase. The company recorded $ 23.7 million in cash for fiscal 2019. For 2020, the company reported $ 100.3 million in cash. And in May 2021, iFit was making $ 146.4 in cash.
Total assets and liabilities: iFit reported increases in total assets and total liabilities. For the fiscal year ended May 2020, the company reported total assets of $ 372.1 million and total liabilities of $ 553.3 million. As of May 2021, iFit had total assets of over $ 992.6 million and total liabilities of $ 1.7 billion.
IFIT’s latest funding round in late 2020 earned the company a valuation of $ 7 billion. So how much money can the iFit IPO raise? Let’s look at the details of the deposit …
IFit IPO Filing Details
iFit filed a filing with the Securities and Exchange Commission (SEC) on August 31. The company recently set the terms for the iFit IPO. It will offer 30.77 million ordinary shares under the ticker IF IT.
A price range of $ 18 to $ 21 per share is expected for the IPO. The company will set a price during the week of October 4. IFIT stock is expected to start trading on the Nasdaq on October 6.
The company plans to raise $ 600 million by offering 30.77 million shares at a price range of $ 18 to $ 21. At the low end of the proposed range, iFIT could generate more than $ 553.8 million. The high end of the proposed range could generate $ 646.2 million for the company.
Morgan Stanley, Bank of America and Barclays are leading the iFit IPO.
The company is entering a popular IPO market. On (ONON) is another fitness-related company that recently went public. The Roger Federer-backed company hit the NYSE on September 15.
As always, be sure to do your research before investing. IPOs can be volatile for the first few months, and stock prices are constantly changing. But if you are interested in IPO investing, check out our recent top IPOs and our IPO calendar. We update the calendar daily to give you the latest news on upcoming and filed IPOs.
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About Aimée Bohn
Aimee Bohn is a graduate of the College of Business and Economics at Towson University. Her experience in marketing research helps her uncover valuable trends. Researching IPOs and other trends has been his main focus over the past year. When Aimee isn’t writing for Investment U, you can usually find her doing graphics or traveling with friends.