SAN DIEGO (BRAIN) — Elliptigo Inc., which sells ellipital bicycles, saw record revenue and unit sales for 2016. The company said unit sales were up 30 percent and revenue increased 15 percent over 2015. The privately held company did not reduce specific dollar or unit amounts.
CEO Bryan Pate attributed the growth to continued momentum in the market for elliptical bikes and strong acceptance of the ElliptiGO Arc model, which debuted in December 2015. The Arc has a MSRP of $1,299, making it the most affordable bike in the Elliptigo lineup.
"This was an exciting year for Elliptigo," Pate said. "Our double-digit growth contrasted sharply with the rest of the cycling industry, which had a very tough 2016. The good news is that we see even better days ahead for Elliptigo. Last year the Arc quickly became our top-selling bike and helped introduce people to our other models. The success of the Arc demonstrates that there is demand for elliptical bikes at lower price points and those new customers have helped to generate even more interest in elliptical cycling. We now have more than 19,000 bikes on the road, and we're looking forward to working with our retailers and distributors for another strong year of growth in 2017."
Elliptigo bikes are distributed through specialty running, cycling and fitness retailers and through the company's website.
