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Saturday, May 18, 2024

Echelon Heats Up Peloton Rivalry with New Bike

  • Echelon is ramping up its rivalry with Peloton.
  • The connected fitness company is releasing a new bike.
Echelon
Echelon/Design: Alex Brooks

Connected fitness company Echelon is ramping up its rivalry with Peloton with the release of a new bike. 

The 125-pound EX-8S bike — which sells for $2,399 — features a 24-inch HD touchscreen display that flips 180-degrees. It also supports Wi-Fi and Bluetooth connectivity. 

The Tennessee-based company backed by Goldman Sachs has more than 100,000 users and has been competing with Peloton in the $9.9 billion at-home fitness market with its own line of bikes. 

  • In 2019, Peloton sued Echelon for “imitating the Peloton bike” experience and broadcasting live and recorded cycling classes.
  • As a response, Echelon filed its own petitions in an attempt to invalidate Peloton’s patents. 
  • Last month, Peloton filed a suit against Echelon and iFit over alleged patent infringement related to the company’s on-demand fitness classes.

In 2020, Echelon generated more than $100 million in revenue, roughly a 500% uptick year-over-year. This year, it expects revenue to exceed $200 million. 

Peloton’s Rough Stretch

Peloton missed Wall Street revenue estimates of $810.7 million in fiscal Q1 2022, generating only $805.52 million in revenue for the quarter. 

The underwhelming quarter follows a tumultuous year for Peloton, which has dealt with product recalls and the return of consumers to brick-and-mortar gyms. 

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