• Loading stock data...
Thursday, September 18, 2025

iFIT’s Valuation Drops to Less Than $3B After Fundraise

  • Over the past several months, iFIT — the maker of NordicTrack — has suffered a string of financial blows. 
  • Its ailing balance sheet might be on the road to recovery thanks to its latest capital raise.
iFit/Design: Alex Brooks

Over the past several months, iFIT — the maker of NordicTrack — has suffered a string of financial blows.

Following a capital raise, the company’s valuation dropped about 60% — meaning iFIT is now worth less than $3 billion, according to Bloomberg. 

  • The fitness company received $355 million in equity and debt. 
  • Investor L Catterton led the round. 

But despite recent setbacks, its ailing balance sheet might be on the road to recovery.

The capital raise will reportedly keep the company from an even more severe round of layoffs than the restructuring plan announced last week — which also included CEO Scott Watterson stepping away, remaining only as board chairman. 

Bouncing Back

In October 2020, iFIT was worth about $7 billion. The company’s luck arguably began to sour when its IPO — which could have brought in well over a half-billion dollars — was postponed in October 2021.

In January, the company was reportedly almost sunk by a lawsuit filed by one of its own lenders. The lawsuit has been resolved “amicably,” Bloomberg reported. 

Now, revenue for the fiscal year could rebound and generate about $1.7 billion, close to the same amount as last year, per Bloomberg.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

The South Milwaukee Planet Fitness at 2901 S. Chicago Ave. will relocate to Oak Creek in summer.

‘People Want to Go to the Gym’: Why Fitness M&A Is Surging..

The fitness and gym industry has had strong deal activity in the first half of the year.
[Subscription Customers Only] Jul 9, 2025; East Rutherford, New Jersey, USA; Real Madrid CF forward Kylian Mbappe (9) reacts after a semifinal match of the 2025 FIFA Club World Cup at MetLife Stadium.

CVC Builds Out Sports Division Amid Crowded PE Market

The firm’s sports portfolio is reportedly worth $13.6 billion.

Who Are the Richest MLB Owners?

MLB owners are among the wealthiest people in the U.S.
Feb 7, 2025; Storrs, Connecticut, USA; UConn Huskies center Tarris Reed Jr. (5) reacts after his basket against the St. John's Red Storm in the first half at Harry A. Gampel Pavilion.

After Decade Apart, ESPN and Big East Rekindle Media Rights Relationship

After a decade-plus apart, the network will stream hundreds of conference events.

Featured Today

Adriunna Brown

Business Is Booming for WNBA’s Top Beauty Pros

A network of stylists is shaping how players look, feel, and perform.
Premier Lacrosse League
September 14, 2025

‘The Circus Is Coming to Town’: Why Upstart Leagues Start on Tour

In their ambitious plans, a traveling schedule is only temporary.
PHILADELPHIA, PENNSYLVANIA - APRIL 19: A detailed view of the MLB Debut patch on the jersey of Patrick Monteverde #44 of the Miami Marlins prior to game against the Philadelphia Phillies at Citizens Bank Park on April 19, 2025 in Philadelphia, Pennsylvania.
September 13, 2025

The Tiny Jersey Patch at the Center of the MLB Rookie Card..

Autographed cards containing a piece of baseball history have upended the market.
September 11, 2025

Eagles-Chiefs Super Bowl Rematch Could Set More NFL Ratings Records

Fox will nationally televise Sunday afternoon’s matchup.
Sponsored

Trailblazer Cal Calamia Is Racing for ‘Advocacy, Storytelling, and Performance’

The marathoner wants excellence—not just inclusion—to be the goal for non-binary athletes.
Sponsored

‘Run With the Competition’: Ultra Trail Runner Lotti Brinks Is Back With..

Ultrarunner Lotti Brinks is ready to make her first Courmayeur-Champex-Chamonix podium in her HOKA Mafate 5s.
Sponsored

Top Esports Athletes Will Compete for National Glory in the Esports Nations..

The new biennial event, starting in 2026, kicks off a monumental next era for esports.
Sponsored

How World Series Champ Dexter Fowler Became a Premier League Team Owner

Dexter Fowler discusses navigating retirement and embracing new roles as an owner & investor.
Sponsored

Win. Advance. Repeat: The Professional Fighters League’s Rise to Prominence 

As of 2025, PFL has introduced a World Tournament format, where every fighter must battle through a high-stakes bracket to reach a championship.
The 2018 Ragin' Crossfit Games are held at Blackham Coliseum in Lafayette.
March 14, 2025

CrossFit for Sale After Years of Drama and Attrition

The intense fitness workout got popular in the early 2000s.
Sponsored

How On Location is Redefining the Olympic Winter Games Hospitality Experience

As the Olympic Winter Games Milano Cortina 2026 approaches, On Location—the Official Hospitality Provider—is redefining luxury hospitality.
Sponsored

How On Location is Redefining the Olympic Winter Games Hospitality Experience

As the Olympic Winter Games Milano Cortina 2026 approaches, On Location—the Official Hospitality Provider—is redefining luxury hospitality.