Exercise/Fitness

Masimo Releases Smart Watch With Continuous Monitoring of Biometrics Such as Pulse, Heart Rate Variability (SportTechie) Medical technology company Masimo, best known for its pulse oximeters, is releasing the Masimo W1, a smart watch with continuous monitoring of biometrics such as pulse, heart rate variability, respiration and oxygen saturation (SpO2). A limited release of the wristworn wearable will also track hydration levels.

EXEC: Fitness Chains See Robust Recovery In Q2 (SGB UPDATE) Planet Fitness, Xponential Fitness and Life Time Group Holdings reported a significant uptick in revenues and membership growth in the second quarter, although not back to pre-pandemic levels. However, executives at the fitness chains told analysts they were confident they could overcome macroeconomic pressures.

Gnarly Nutrition Receives NSF Certification For Product Line (SGB UPDATE) Gnarly Nutrition announced that all of its powdered supplements are now NSF-Certified.* NSF certification ensures that products meet strict public health protection standards.

Life Time Sees Revenue Rebound to $461.3M (Front Office Sports)

Life Time reported second-quarter revenue of $461.3 million, a 42.7% year-over-year increase.

The company posted a 10.2% increase in center memberships to 724,778 on June 30, 2022 — up from 657,737 in 2021 — and recorded a $2.3 million net loss. In Q2FY2021, Life Time posted a $76.4 million net loss.

Life Time is looking to rebound from losses sustained during the height of the pandemic.

Adidas’ Operating Profit Plummets 28%, Faces Legal Battles (Front Office Sports)

Adidas reported a 28% decline in second-quarter operating profit to $398.4 million due to suspending its business in Russia, pandemic-related lockdowns in China and Vietnam, and higher supply chain costs.

The company was able to lock in a 4% increase in currency-neutral revenue. Net income fell to roughly $368.9 million from around $396.5 million during the same period last year.

On July 26, Adidas cut its 2022 financial forecast due to a slower recovery in Greater China. It now expects currency-neutral revenues to grow at a rate in the mid-to-high single digits. Previously, it projected growth between 11% to 13%.