Net loss narrowed to $8.6 million in the fiscal third quarter ended Mar. 31 from a loss of $55.6 million last year, on revenues that grew 141% to $1262.3 million from $524.6 million with both equipment and subscription revenue improving triple digits. Connected fitness product sales, including both bikes and treadmills, gained 140% to $1,022.9 million, but gross margin plunged to just 28.4% from 44.3% last year. The dropoff was due to increased spending on expedited shipping from Taiwan, along with the Sep. 2020 bike price reduction and a mix shift towards less profitable treadmills. SG&A was up 38% in ... Log in to view full article.