Technogym reported record-high consolidated revenue of €901 million ($972 million) for fiscal year 2024, up 11.5% from 2023 as the Italian fitness equipment and tech giant pushes further into artificial intelligence, longevity and preventive health.
Technogym also reported adjusted EBITDA of €178 million in 2024, up 17% from 2023, along with net profit of €90.2 million, up 15% from last year.
Technogym’s stock shot up 7.1% on Wednesday in response to the earnings announcement.
“2024 performance makes us proud of our team’s outstanding work in delivering innovation, strengthening our brand and expanding our global customer base,” Technogym founder and CEO Nerio Alessandri said of the results. “Despite geopolitical uncertainties, Technogym achieved growth across all geographic regions”
The Italian fitness equipment and tech brand continues to lean on B2B sales as its primary revenue driver, although its DTC segment is also seeing strong growth. In 2024, Technogym’s commercial segment (B2B) revenue grew 11.6% to €717 million and its consumer segment (DTC) revenue grew 11.3% to €184 million.
Technogym’s revenue grew 13.9% in the Americas in 2024, reaching €146 million. The Cesena, Italy-based company recently opened a new U.S. headquarters in Secaucus, New Jersey. Technogym also operates four logistic centers throughout the U.S. along with boutique studio showrooms in New York City and Los Angeles.
The strong financial results come as Technogym leans into artificial intelligence and longevity-based fitness.
In 2024, the company launched Checkup, an AI-powered assessment station that uses artificial intelligence to give users their “wellness age” based on factors including body composition, strength balance, mobility and cognitive performance.
Last month, Technogym unveiled “Healthness,” a new brand philosophy that seeks to merge personalized fitness and healthcare. Alessandri has said that Technoym wants to be seen as a “life sciences” company that plays not just in fitness but in the areas of preventive medicine, health and wellness.
“The important result achieved in the year just ended, for us, does not represent just a milestone, but a new starting point for our Technogym Vision 2027 that we shared a few weeks ago with our team and partners from all over the world,” Alessandri said.
