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.