Fitness equipment company Nautilus has sold non-core assets, including the Nautilus brand trademark assets, to focus on at-home fitness, according to a company press release.
Nautilus received about $13m for the assets, which also included related licences. The company used the funds to pay down some of its term loan, reducing borrowings to about $18m.
Nautilus also announced preliminary unaudited fourth quarter and full year fiscal 2023 results, with net sales down on the previous year due to a return to pre-pandemic demand.