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Signa Revenue Grows 29% Through Acquisitions

  • Signa Sports United saw revenue increase 29% year-over-year.
  • The company went public and closed two acquisitions in December.
Signa Sports United
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Signa Sports United reported major revenue growth in its fiscal third quarter — but also a modest loss — as it restructures into a larger business.

The bicycle and tennis equipment company saw net revenue grow 29.2% to $329.7 million, reflecting the addition of two new companies under Signa’s umbrella. 

  • In December, Signa went public through a SPAC merger and closed the acquisitions of British bike retailer Wiggle and Tennis Express.
  • The merger with Yucaipa Acquisition Corporation, run by former Pittsburgh Penguins owner Ron Burkle, valued Signa at $3.2 billion and raised $645 million.
  • Wiggle had around $500 million in annual sales at the time of the acquisition.

The acquisitions helped push back against weaker consumer demand to push user traffic up 16% year-over-year. Signa also owns Chain Reaction Cycles, Fahrrad, Bikester, Probikeshop, CAMPZ, Addnature, Tennis-Point, TennisPro, and OUTFITTER.

Signa’s stock was essentially flat following the earnings release on Tuesday — and is down over 25% in its time as a public company.

Changing Gears

The company took a $13.2 million adjusted EBITDA loss in the quarter, compared to a gain of the same amount a year prior. Signa chalked up the loss to one-time expenses related to its public listing.

Signa secured a $152.6 million credit line to power growth, with CFO Alex Johnstone naming its logistics and technology platform as a target for investment, plus an additional $203.5 million option for acquisitions.

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