Nautilus (NLS) reported Q4 EPS of ($0.58), in-line with the analyst estimate of ($0.58). Revenue for the quarter came in at $119.7 million versus the consensus estimate of $120.85 million.
GUIDANCE:
- For Fiscal 2023, Nautilus expects to return to a more typical pre-pandemic seasonality with the 2nd half of the year contributing more of the full year’s revenue. As a result, the Company expects the first fiscal quarter ending in June to represent the low point for the year, followed by the second fiscal quarter ending in September being the second lowest. The third quarter ending in December is expected to be the strongest with the fourth quarter expected to be slightly lower than the third quarter.
- Additionally, to gauge growth and progress against more “normalized” results, the Company will be measuring Fiscal Year 2023 sales growth versus the same pre-pandemic period in Fiscal Year 2020.
Fiscal Q1 2023
- The Company expects Q1 FY2023 sales to be between $45 million and $55 million. At the mid-point, compared to the same period in Fiscal Year 2020, this guidance represents a decline of 13% or 4% growth excluding Octane. Q1 revenue guidance reflects weaker retail demand as our partners work through their elevated inventory levels.
- The Company expects Q1 FY2023 Adjusted EBITDA loss of between $(22) million and $(27) million.