B$Z: ElliptiGO Reports Record 4th Quarter Results; Up 40% Y/Y
ElliptiGO Inc., creators of the world’s first elliptical bicycle, announced today that revenues for the 4th quarter of 2015 were up 40%, year-over-year. In addition, December was the largest single month of revenue in the company’s nearly six-year history – up more than 100% over December 2014.
ElliptiGO CEO Bryan Pate attributed the record growth to continued momentum in the market for elliptical bikes and the release of the new ElliptiGO Arc. The Arc has a completely new design with a compact elliptical stride. The new bike has a MSRP of $1299, making it the most affordable bike in the ElliptiGO lineup.
“This was an exciting quarter for ElliptiGO,” Pate said. “Not only did we launch an awesome new bike that makes elliptical cycling more accessible to more people, but we also sold our 15,000th bike. Our retailers and distributors are excited about the addition of the Arc, as are we. We’re looking forward to continuing this growth throughout 2016.”