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Cover Page - shares | 9 Months Ended | |
---|---|---|
Dec. 31, 2021 | Feb. 04, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Dec. 31, 2021 | |
Entity File Number | 001-31321 | |
Entity Registrant Name | NAUTILUS, INC. | |
Entity Incorporation, State or Country Code | WA | |
Entity Tax Identification Number | 94-3002667 | |
Entity Address, Address Line One | 17750 S.E. 6th Way | |
Entity Address, City or Town | Vancouver | |
Entity Address, State or Province | WA | |
Entity Address, Postal Zip Code | 98683 | |
City Area Code | 360 | |
Local Phone Number | 859-2900 | |
Title of 12(b) Security | Common Stock, no par value | |
Trading Symbol | NLS | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 31,248,298 | |
Entity Central Index Key | 0001078207 | |
Current Fiscal Year End Date | --03-31 | |
Amendment Flag | false | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 |
Please wait while we load the requested 10-Q report or click the link below:
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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Nautilus, Inc..
Nautilus, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:
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The increase in general and administrative expenses for the nine-month period ended December 31, 2021 compared to the same period of 2020 was primarily due to a $4.7 million loss contingency related to a legal settlement for a class action lawsuit and increases in personnel expenses and acquisition costs.
Longer term view, beyond Fiscal 2022 The Company expects to return to positive adjusted EBITDA in fiscal year 2023 and are on track to achieve operating margins of 15% by FYE 2025, with margins expanding to high teens by FYE 2026.
Operating expenses were $130.9 million, an increase of $16.0 million, or 14.0% for the nine-months ended December 31, 2021, compared to operating expenses of $114.8 million for the nine-months ended December 31, 2020, primarily due to a $23.5 million more in advertising, increased JRNY investments of $9.5 million, a legal settlement of $4.7 million, and acquisition expenses of $1.7 million, partially offset by the $20.7 million Octane Loss on Disposal Group for the nine-months ended December 31, 2020.
Gross profit margin for the nine-month period ended December 31, 2021 was 34.9%, down from 55.0% for the same period in 2020.
Gross profit margins were 12.8% for the three-month period ended December 31, 2021, down from 31.1% for the same period in 2020.
Gross profit margin for the...Read more
Comparison for the Three-Months Ended...Read more
Our gross margins are being...Read more
Strength sales were up 88.8%...Read more
Additionally, the borrowing base definitions...Read more
31 Table of Contents Sales...Read more
Historically, our operating expenses have...Read more
The decrease in cash flows...Read more
The increase in inventory was...Read more
Excluding sales related to the...Read more
Segment contribution income for the...Read more
Decreased sales were driven primarily...Read more
Segment contribution income for the...Read more
Comparison of Segment Results for...Read more
Other structural improvements to the...Read more
Trade receivables increased to $93.6...Read more
Selling and Marketing Selling and...Read more
General and administrative was as...Read more
Borrowings outstanding under a revolving...Read more
The sales increase compared to...Read more
Operating expenses were $49.2 million...Read more
35 Table of Contents LIQUIDITY...Read more
Comparison of Segment Results for...Read more
Excluding sales related to the...Read more
Strength product sales grew by...Read more
Gross profit was $18.1 million,...Read more
Retail Segment Comparison of Segment...Read more
In addition, our operating expenses...Read more
We intend to leverage our...Read more
Income tax (benefit) expense was...Read more
We may not be able...Read more
When excluding sales related to...Read more
When excluding sales related to...Read more
Excluding sales related to Octane,...Read more
Retail segment sales outside the...Read more
Excluding sales related to Octane,...Read more
Strength products sales grew 42.1%...Read more
Forward-looking statements include any statements...Read more
Income Tax (Benefit) Expense Income...Read more
Comparison for the Nine-Months Ended...Read more
The decline was primarily driven...Read more
Other, Net Other, net relates...Read more
Cash provided by investing activities...Read more
As of December 31, 2021,...Read more
Excluding sales related to Octane,...Read more
Cardio sales declined 32.8% versus...Read more
Strength product sales declined 14.1%...Read more
Retail segment sales outside the...Read more
The nature and terms of...Read more
NEW ACCOUNTING PRONOUNCEMENTS See Note...Read more
Excluding sales related to Octane,...Read more
We believe that consumers tend...Read more
Media advertising expense is the...Read more
Net sales were $469.8 million,...Read more
Royalty income for the three-months...Read more
Net sales were $147.3 million,...Read more
Our principal business activities include...Read more
Gross profit was $56.6 million,...Read more
Gross profit was $11.0 million,...Read more
Gross profit was $68.4 million,...Read more
In addition, our revenues are...Read more
The unamortized balance on the...Read more
Prepaid and other current assets...Read more
In connection with the October...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Nautilus, Inc. provided additional information to their SEC Filing as exhibits
Ticker: NLS
CIK: 1078207
Form Type: 10-Q Quarterly Report
Accession Number: 0001078207-22-000006
Submitted to the SEC: Wed Feb 09 2022 4:08:10 PM EST
Accepted by the SEC: Wed Feb 09 2022
Period: Friday, December 31, 2021
Industry: Sporting And Athletic Goods