#123: Bruce Smith, Founder and CEO of Hydrow

Today, I’m joined by Hydrow founder and CEO Bruce Smith. Hydrow re-engineered the rowing machine with patented technology, built around an immersive experience.

In this episode, we talk about the pandemic’s impact on the connected fitness category. Bruce explains how Hydrow was able to achieve sustainable growth, and we discuss what’s next for the company. Expanding on his first Fitt Insider Podcast appearance, we also get into Hydrow’s new content, additional equipment, if they’re open to an acquisition, and whether they’ll go public.

In this episode, you’ll learn:

  • Why Hydrow delivers a better workout than biking or using a treadmill
  • Hydrow’s partnering strategy with brick-and-mortar stores like Best Buy
  • Why celebrities are eager to invest in Hydrow
  • What the post-pandemic future of in-home fitness looks like

Links & Resources

Bruce Smith’s Links

Transcript

[00:00:00] Bruce:
You’ve got to pay attention to the fundamentals of the business. The first thing that I said to our first major investor was, “We’re a capital efficient company.” We’ve always been focused on that. Those kinds of companies are the ones who will be rewarded over the longterm.

We’re not trying to build a fad. We’re trying to build a lifetime relationship, and make the world a better place over the longterm.

[00:00:34] Joe:
Welcome back to the Fitt Insider podcast. I’m your host Joe Vennare.

Today I’m joined by Bruce Smith, founder and CEO of Hydrow, makers of a connected rowing machine. In this episode we talk about the pandemic’s impact on the connected fitness category. Bruce explains how Hydrow was able to achieve sustainable growth, and we discuss what’s next for the company, including new content, additional equipment, if they’re open to an acquisition, and whether or not they’ll go public.

Let’s get into it.

Hi Bruce, welcome to Fitt Insider. Thanks for joining us.

[00:00:59] Bruce:
Great to be here. It’s been a while.

[00:01:02] Joe:
Yeah. I don’t know if you remember, but the way it played out, you were actually the first guest on the show. I recorded a batch of them way back in 2019. Yours was released first. So, this will be a great update and reintroduction, or maybe introduction for folks that don’t know you.

[00:01:20] Bruce:
Yeah, congratulations on the show. It’s really cool. I know a lot of people listen to it, and you have great conversations. I’m really looking forward to talking again.

[00:01:29] Joe:
Yeah.

For folks who aren’t familiar with Hydrow, bring us up to date where things are today.

[00:01:41] Bruce:
Hydrow is the best 20 minutes of your day. That’s our goal, and Hydrow delivers what we have now called the “Hydrow high.” It’s that feeling that you get when you do a full body workout after 20 minutes.

I’m a former national team coach. I coached for the United States. I’ve been to the world championships 10 times, and in 2018 I realized that we had to get this thing started. The growth of rowing machines is inevitable. The sports and fitness industry association has documented that the demand for running machines is growing at twice the rate of other fitness activities inside.

What I realized in 2018 was if we didn’t get this thing going. Then connected fitness inside was going to take over the rowing machine and it would lose its connection to the best part, which is the sport out on the water. That feeling of synchronicity. That feeling of being part of the natural world, that immersive experience.

That’s why we created Hydrow. It was to make sure that if you bought an indoor rowing machine you had a connection to where it all started, which is out on the water. It’s been so great to see the adoption.

[00:03:00] Joe:
Yeah, I think it’s really interesting that, you know, obviously rowing certainly on the water isn’t new and the commoner isn’t new, but it feels like maybe in the last three years or so. And I’m sure Hydrow has a lot to do with this. It’s it’s seen a resurgence of, you know, the effectiveness of rowing, the, the number of people who are interested in it.

And really, I think you guys do a great job of it. I was on the website the other day. And kind of there’s this graphic that shows, somebody biking, somebody on a treadmill and then somebody on the rower and then it engages so much more of the body.

And like you, you mentioned that the effectiveness of the exercise, can you talk about maybe.

If you’ve noticed, has there been a shift and like this, this acknowledgement by people that, oh, this is a really great form of exercise and it makes sense in terms of, you know, not only what Hydrow is trying to do from a connected fitness standpoint, but just in terms of like the full body exercise, have you seen that shift?

Is that true?

[00:03:59] Bruce:
Yeah, it’s really amazing. You look at Google search terms and it’s just amazing if the increase, for rowing and indoor rowing and it totally makes sense. Like I understand no judgment, like choosing a bike for indoor exercise made sense. Cause everybody was familiar. But rowing really has been around forever.

And if you’re going to choose exercise, I think that there is this, apple watch and the health app on your phone. And there there’s this confluence of like actual good information about whole health. There just wasn’t, it wasn’t even a thought in somebody’s back pocket, 10 years ago, and now consumers are getting educated.

Like how you spend your time in whole health is really. As important to spending time. And so if you can use any 6% of your body’s muscles and above all turn on your quest, your chain, nobody knows they have a posterior chain, they do your back muscles. You need them, they need to turn on. And if you go to the gym or you sit on a bike, or even if you’re on a treadmill, you’re not turning on your posterior chain actively, you’re passively loading it.

You’re not actively loading it. You want to be a healthy human. You better actively load your posterior chain and rowing is one of the very few exercises that does it really efficiently. So I think there is this growing sense in it it’s reflected in search terms. It’s reflected honestly, in our sales, you know, and the other thing nobody has ever advertised wrong before, like, until we got on this.

Like water rower and concept two are awesome machines, but they really, they grew incrementally over time and they actively did not advertise. So they were they referred very small group of people who already knew what rowing was and Hydrows for non-writers it’s it’s designed to make it accessible and engaging for everybody And it’s been So fun to be able to actually start to tell this story at scale and have Kevin Hart on board to a You know to explain like no actually you feel high Like it’s great Try it You know it’s so much fun so much fun

[00:05:58] Joe:
Yeah, I think that’s, an interesting part of the story. You mentioned Kevin Hart, and I think, you know, in the recent kind of funding round and announcement last year, it was Lizzo and Justin Timberlake, Aaron Rogers and his venture fund were involved. Can you talk about the role. Maybe the, the approach, like why was it that you took that approach in partnering with these individuals, how they contribute and maybe what you’re seeing as a result of that?

[00:06:22] Bruce:
Yeah. We had a really amazing response from people in Hollywood. So I think there’s this general understanding now in Hollywood, you can’t be a real star unless you’re also an investor. And so, we had offers from all of us, everybody like anybody, anybody you see a Netflix, like they were like, yeah, can we invest?

Which was great. And we were super selective. Collected a group of people that? we thought just communicated. Like we don’t have to say anything. It’s a, it’s a show don’t show. Don’t tell a moment where like, oh no. Lizzo and JT and Aaron Rogers and Kevin and Travis, Kelsey. Okay. Rowing really is not a niche anymore.

It used to be an inch. No doubt. It was absolutely a niche. And, I’m not ashamed of the fact that the Winklevoss twins were early investors in the company. Like they’re the OGE, it’s amazing. But this group of investors communicates instantly to the whole world. Like, oh no, it’s for me, it’s it really is for everybody. And, I was a little bit starstruck with Kevin, you know, like meeting him and having his creative input.

There’s a reason he’s so famous. He is the most creative human I’ve ever met. You know, he’s just unbelievably stuffed with amazingly great ideas and hilariously funny, like 24 7, even when he’s completely exhausted in an breakfast.

And, he’s really like Hydrow high idea. It was because Kevin drove us to make it more accessible and stop talking about it, like rowers and start talking about it, like normal people, you know, and that’s what Hydrow is all about. So, it was, it was a very, very thoughtful process on our part. And we’re so happy to have all of those people, engaged in the company.

It’s really fun.

[00:08:04] Joe:
Yeah, it certainly bodes well for what you all are doing, that it kind of naturally attracted them and they can, they can speak authentically about it. That kind of plays into one of the things that we’re seeing now is, is obviously, maybe if we zoomed out. And you could just take us behind the scenes of the last two years, the pandemic of, you know, I feel like in 2019 it was like, oh, connected fitness.

It’s so interesting. And it’s this growing category and we’ll see if it transformed gyms to the kind of whirlwind ride that it was during that period. And I think some of the numbers that were coming out for hydraulics, it was like 500% growth in sales during that time. maybe what was that ride like and how are things.

Now, like what does it look like in terms of the demand that the sales channels that you’re seeing succeed and really that overall experience

[00:08:55] Bruce:
Yeah. And you know, it’s so cool is that the right’s not over. And I think that there is this, certainly, I mean, the media is covered in stories about Peloton right now, and we just aren’t experiencing that. So our growth December from December over December was 300%. So. Your middle of the pandemic, panic, buying over anything that you could get to exercise on to December, 2021, when people are really like exhausted from the pandemic.

And please don’t say the word pandemic to me again, we continue to see hypergrowth same in November, same in October when people were finally vaccinated and able to get out for the first time. So we’ve experienced. It’s just an amazing story in terms of continued acceleration. I think it is because there is, you know, there’s a hunger for things that are efficient.

There’s a hunger for things that are really engaging, but above all people, like they recognize like, you know, time is the most valuable commodity we’ve got and. I really like buy companies have a hard thing to sell. Like it’s, when you look around the fitness industry who are fitness experts, who are whole health experts who run the companies.

And I think that’s a huge differentiation for Hydrow, because we are actually run by. People who are experts in whole health. Like I spent my whole life coaching at the elite level and I worked in this community-based organization that served 1500 people a day from all walks of life, like military vets and kids from Boston, public schools and kids from the Newton, public schools and adults who are, you know, just getting back to a sport after their kids finally went off to college, like huge mix of people.

And we know more about. I think that any other company out there, and it really shows we have a full-time PhD, Dr. Kristen Hills Harold’s daughter who works with our athletes all the time. And honestly, the truth is. You got to make something that people love, but you got to back it up with really great science and it’s, it’s not enough to just make entertaining programs.

You really gotta back it up with stuff that delivers results that we promise to our members and above all it’s says 20 minutes. You’re going to feel great. That great feeling, feeling the Hydrow high for 20 minutes is. It’s going to carry you through your day. And that’s what we promise we can deliver.

And then over time, it’s that transformation that people experience. And I think that’s the foundation for lifetime brands. And I think, people like Nike have done an amazing job, staying true to athletic performance and everything they produce helps you perform better. And that’s definitely somebody, a company that we take inspiration from

[00:11:34] Joe:
Yeah, I think it’s, it’s an interesting point that that gets left out of the conversation that, you know, The case as you described it, like you have been in rowing in the sport of rowing and getting people involved in rowing from the beginning. And now you’re thinking about, Hey, how do I take that and deliver it to somebody else in the at-home setting?

Or maybe when I can’t reach them in person. I’m really thinking about like that, that at the core of the product and the experience where I think in some other instances, you have people who are kind of coming to the fitness space in a way that. You know, I don’t want to say inauthentic, but maybe not as organic that they didn’t have that same experience and it doesn’t resonate quite the same way.

So what they’re trying maybe to transfer or deliver in that at home environment, doesn’t quite resonate the same way. So I think there’s a little bit, it’s, it’s intangible. It’s hard to kind of put your finger on it. I think you spoke to it really well, but it is a point that is not part of the conversation right now that I think will play out.

And we’ve. We’ve seen that as well. From the investment standpoint, the amount of money that’s been poured into the space, it doesn’t exactly map to, you know, how people, you know, it’s, it’s difficult to start and stick to a routine in a way that that kind of speaks to this retention and the demand, and, and having awareness around that.

So the funding has kind of pushed it in a different direction, and maybe the intentions have as well. but changing gears a little bit, when we think of. You know, the, you said that the demand and sales are continuing to be very strong. Are there particular channels? I know you’ve done kind of interesting partnerships on the brick and mortar side and retail obviously direct to consumer.

Can you speak to those, those channels and how you’ve been able to utilize them?

[00:13:16] Bruce:
Yeah, we’re huge fans of, both of our major partners. You know, you can buy a Hydrow in 250 best buys in the United States and another few best buys in Canada. you can buy a hydrant Selfridges in London, and. it’s really great to be able to walk in and see the product, the best experience you can have, honestly, in my opinion, no disrespect to anybody, but the Fabletics experience is amazing.

So you can go on our website, you can schedule a trial, one of the Fabletics stores that has a Hydrow in it, and the people who work at Fabletics are just so excited about the product. It’s the only product in there, and you have this, you know, just it’s it’s great. And the only way to actually. Like it’s so far out of people’s daily experience, you know, what happens every time?

So you, none of our customers have ever around sheets, basically not, I wouldn’t say none 93% of our customers, so I’ve never owned a rug machine. So they go to Hydrow and they sit down on it and they’re like, oh my expletive, expletive, like, this is amazing. And it takes about 10 minutes, you know, like there’s no internet ad that, that you can serve that is going to communicate exactly.

How good it is. And so the two things that we can do, you know, like talk to one of our members and they will immediately sell a Hydrow to you. that happens all the time and you can also, you can also —go to a Fabletics store and it’s really, It’s really a compelling experience. So we’re, we love those partnerships and then direct consumers.

Amazing, you know, cause we have this, really great delivery system. delivery times are down. Finally, you know, we have three partners that we work with, so there’s some real resilience in the network and we’ve been really, we have an amazingly experienced production team. We’ve had to do a lot of pivots around the supply chain problems.

We’ve overcome all of the limitations. You know, we’ve responded boards, we’ve used different chefs. We’ve really been super nimble so we can get a hydrate shoe. And, usually like something like five or six days on average. And that overall DTC experience is definitely the underpinning for the brand.

But having that partnership with. people like Fabletics and best buys is, I think it’s a great strategy. And then this here, you’re going to start to see a lot more Hydrows, not just gyms, but also hotels, especially, Marriotts and Hiltons. So we’re excited about that too.

[00:15:44] Joe:
Yeah, that was my next question. Have you ventured into the kind of commercial sector or is that a new thing that will begin to happen in 2022?

[00:15:52] Bruce:
No. So we’re already there and, there is a hotel finder. So, you know, if you travel to Boston, we’re in, I think, you know, coming up on. 10 hotels, maybe right now here, locally and nationally, a few hundred. The, the opportunity is great. We know that people convert when they have the opportunity to try Hydrow and hotels are really good place for that.

And it’s, it’s just, You know, the pandemics is so bizarre and it’s definitely, made hotels think a few times before they’re staying in a new stuff. But I think that overall, you know, the world is definitely going to be that blend. hybrid experience and we want to be everywhere. Our members are, and it’s also, you know, we built Hydrow to be commercial grade, like it belongs in commercial environments and, we’re really proud of the fact that it’s, it’s really durable and built for those, environments like hotel, some gems

[00:16:51] Joe:
Do you think kind of one more question on the maybe distribution side in brick and mortar, we’ve seen more companies jumping into this space. I think. Also kind of unique to do it with rowing, because it does require some getting used to, you mentioned like folks that maybe not been on a rower before, and then they experienced that.

Do you anticipate doing more of these we’ve seen shopping shops or, you know, folks going into these experiential shops, opening their own boutiques? Is that a growth area or are you pretty much excited about and want to keep with the partnerships you already have in place?

[00:17:21] Bruce:
So we are really capital efficient company. so we’re not gonna build, our own truck system and Depot system, and we’re not going to build a hundred stores, but we did have this amazing experience at CES. So consumer electronics show in Las Vegas a couple of weeks ago now, we’re apparently I did not get on a crime against all odds and, We had this really immersive hyper-reality experience of Hydrow, where you have these really, really big lit up pictures and a huge led screen that invited you into live up to reality.

And so it was a boat house. And so we built this old house and everybody who walked over, he said like, oh my God, you guys just a bunch of people said you one, see, I said, at night you couldn’t see us. So it was this immersive experience And we think that there’s a real opportunity there for. And giving people, I think that those flagship stores

Allow consumers to understand that we’re here for the long-term.

This is not a fad. This is actually something like when you go to New York or you go to Harris like, oh, there’s that store like, oh my God. And not just the content for social, but also that idea that it’s not an internet brand. It’s something that you can trust and is tangible and real in the world. And we want to give that, give people that experience.

So you can look for a couple of things like that from us coming up, actually in 2022, we’re pretty excited about.

[00:18:48] Joe:
Yeah, I think it’s really exciting. And you mentioned it there. If folks aren’t familiar, I’m sure it will, obviously anybody that has a Hydrow nose, but the, the live outdoor reality, in terms of what the content is. So this is not. What you would think of with other kinds of connected fitness companies, where it’s in a studio and super highly produced. And that way this is on the water. These are people who are coaching you that are actual rowers. Do you anticipate, you know, that content offering evolving,

[00:19:16] Bruce:
Traveling around the world is really fun and people love to travel. And I think that, again, it’s one of those things that our members can explain it best, but. this is not a GoPro situation where it’s like, Hey, here are two GoPros. And, and then you kind of float around and everybody’s had that experience that, that, you know, whether they have, you know, oh, no treadmill with a screen on it.

And you can go running through some towns using Google maps. This is not that at all. This is, Emmy award winners who are taking the world outside and delivering. To your home in an incredibly immersive way, the minimum number of funds this we’ve got out there is six. Sometimes it gets up to 15, multiple microphones, a whole crew of people switching and capturing, not just the natural beauty, but also it really connecting you with the athlete in a really personal way.

And it’s really hard. Like it’s genuinely difficult. It’s on water, you know, and stuff changes all the time. So it’s not like shooting a football game where you can put your cameras in the same spots all the time. There are dogs who bark there, you know, policemen, chase other people, there sirens in the background.

Sometimes it rains. Sometimes the athlete runs into a bridge and slips in the water, but that’s the joy, you know, like when you think about the kind of media you consume for your whole life, is there a TV show that you’ve watched for your whole life? I have not, you know, but I know that I watched life programming for my whole life.

And it’s that live outdoor reality element of that. Like, we want to be part of your life forever and the best and healthiest habit that you can have in that 20 minutes. That is the best part of your day.

[00:21:00] Joe:
We’ve. It’s super impressive. And for folks who haven’t experienced that or seen it it’s, it really is unlike anything else that’s out there right now. so props to you guys for developing that, down that path, we’ve we hear a lot about gamification. So even in the rowing space, a lot of companies launching around gamification, then there’s top talks of like, what does virtual reality look like?

How do you think about that as it relates to, you know, the live outdoor reality and just the opportunity to continue to evolve the.

[00:21:30] Bruce:
Yeah, all of those are great ideas. They’re all icing. The most important thing that you can get is that human connection. And that’s the number one building block that thing. So everybody has, so you need 10 units of motivation and understanding or workout. Most people, 80% of the people in the. world do not have 10 units of motivation.

They have. And they need those last two. They do have a Russ out 7, 6, 7, somewhere in there. And what provides that motivation and the biggest single block is human connection. And so that’s where we started the company around that human connection and all of that. Gamefication absolutely on our roadmap.

And I think one of the coolest things about Hydrow. Is that it does grow and evolve. So the thing that you bought last year, this year has own fridge only features. And next year, you’re going to sit down like on a morning in may and you’re gonna, touch your avatar and there will be a whole new world waiting for you with a whole new set of features.

And it’s so much fun to think about the evolution that we have because fitness is not like, it’s not one thing. It’s a personalized recipe and understanding where you are on your journey and using the data that you share with us to build those recommendations and the most fun that you can possibly have, because it’s different for everybody.

Some people crave, competition, other people hate. You know, and that’s the promise of a company like Hydrow, where we actually understand that. And over time it just becomes, you know, stronger and stronger and their product offerings get better and better. It’s really, really fun. And I love all of this stuff that people are doing, and I can’t believe how many, companies are coming in to follow us in their own space.

It’s really any, anybody who says that we’re drawing is my friend. So I’m really encouraged by the whole, the whole movement.

[00:23:22] Joe:
Yeah, well, we, we talk about rowing and, another kind of question that I at least get a lot is, and we’ll, we’ll pose it to you as well. Is there, or what, what is the place of like a single modality product, right? Is Hydrow going to stick with rowing and continue to develop the best in class rowing experience across all these different modalities for different people and their motivations?

Or is it like, Hey, we want to eventually launch additional products and have a suite of products. Some of the other companies that have like this portfolio approach.

[00:23:53] Bruce:
Yeah, we will absolutely never sell a product that doesn’t use your whole. You know, and I think that’s the key insight here. we’re, you know, you can trust us because we know more about rowing than I think anybody else alive at this point. And that is our golden pass in the foundation, but we don’t want you to roll all the time.

And right now on the platform, there are three key key ingredients for whole health. So number one is. Number two is movement. So strengthened movement. So you can be comfortable in your body. You have a full range of motion. You able to lift your arms over your head, get up out of your chair, comfortably all of the things that you need to do that.

And number three is mind, body connection, and having your brain do really well connected. To how your body works. And so yoga and awareness, and those three territories are incredibly powerful as a recipe. And it’s, it’s changed in alternating between those territories that makes for a really perfect recipe for overall whole health

[00:24:50] Joe:
With that, kind of one more question on the equipment front to the extent that you can talk about it. Have you looked at been approached by other companies about potential acquisitions? You know, you hear the rumors Peloton has been launching a rower for, I think three years now

[00:25:06] Bruce:
Really long time. I know, right?

[00:25:07] Joe:
Other people want to get, I think swift also wants to get into this space.

How do you just think about that? And is it even something you would entertain.

[00:25:15] Bruce:
Yeah. We, we talk to. people all the time. I think, there’s so many things that make sense, but we have this kind of unique bedrock as a brand and it’s unobtainium, you know, like there just aren’t a lot of founders who have been. You know, national team coaches and have been in the sport for their whole life.

So we have this special, authenticity and threat that people really, really respond to. I am excited about the future and I, there’s definitely gonna be some, there’s some great opportunities to put two companies together, like peanut butter and chocolate, and we continue to have those conversations, but we’re also really, really, really bullish about the.

Long-term trajectory to be, you know, one of the greatest brands of this decade.and not just in whole health, we really feel like we’ve got a claim to help people feel great. You know, all of the members of a family to feel great for 20 minutes every day. And that’s, that’s a crucial place in a role that we cherish in people’s lives.

So having that footprint in the home and having that claim to actually deliver what we promise on is. That’s really exciting. And I think that, you know, it’s going to drive long-term growth for us, for the next decade.

[00:26:29] Joe:
I guess the flip side of that, of the MNA conversation is that there were rumors that you were looking at a spec that it was potentially, plans to go public. I know lots of different regulations around what you can and can’t say, is something like that. Also on the roadmap here, you’re kind of evaluating all the opportunities.

How are you thinking about public markets and potential liquidity? That way

[00:26:53] Bruce:
You know, we’re, I feel for the people who went public, you know, at the peak of the bubble, it’s really, it is rough to watch what’s happening to the stock prices right now in the sector. And, we’re in an amazingly strong position. I definitely imagined that we will be a public company at the right time.

And, you know, looking forward to that, The biggest reason for us to be public honestly, is not so much the liquidity event. It’s just the ability to share our story. You know, we want to, we want to take all the statistics that we have that are stunning about the business and publish them every quarter in the wall street journal and get that public story out there because I think it is really compelling.

And it’s just one more tool. Our biggest challenge is just letting people know we exist. You know, rowing is still. one of those things where people, you know, as we’ve talked about at the beginning of the conversation, it’s one of those things where like, people are like, wait, is that really for me? Or like, we’re here to tell you, it definitely is for you.

[00:27:48] Joe:
What do you think about, I just kind of zooming out a little bit. The, you, you alluded to it there, like there have been some companies in the finished space that have gone public recently. Obviously Peloton is kind of getting pummeled right now. previously I fit was going to go public. Then they kind of backed off that idea.

Do you think this overall just kind of. Cool down or correction, maybe in the market is impacting the overall fitness space. Do you think it will have any potential negative impact on Hydrow your ability to raise funds or continue to tell that story and maybe how it’s positioned or is it, you know, you think you’re going to be able to kind of come out independent of that, just given what you’re seeing in terms of demand and kind of success.

[00:28:32] Bruce:
And definitely thinks that the, you know, the pandemic gave some people this idea that they could spend, infinitely and. The, the multiples on Peloton were just so attractive to investors that they were like, oh, we’ll just, we’ll just do that. The truth is, you know, you got to pay attention to the fundamentals of the business.

And that the first thing that I said to L Catterton or first major investors, we’re a capital efficient company, you know, and we’ve always been focused on that. And. I think that those kinds of companies are the ones who will be rewarded over the longterm. We were not trying to build a fad. We’re trying to build a lifetime relationship and actually trying to make the world a better place over the longterm.

So for us, I don’t see, you know, we’re not capital constrained and we’re going to continue to drive that growth. I think the people who are reaching for the breasts ring and trying to, you know, take advantage of that bubble or definitely. I mean, it’s just, it’s hard to watch, you know, with Beachbody and Peloton and a few of the companies and their stock price, just getting killed, you got to pay attention to the fundamentals and we, we’ve never lost sight of those in our management team, you know, our CFO or CCO, they’re all from people who operated billion dollar companies in public environments.

And they’re really, really experienced conservative operators. And it gives us, You know, real bedrock to operate from. So, delighted that we are in the position we are in. I, you know, I wish I could take more credit for it. It’s the team. We just have a fabulous team in place.

[00:30:07] Joe:
Well, a really, really thoughtful and pragmatic approach, which is refreshing, given how things have played out over the last couple of years. We’re starting to see that as we get towards the end of the conversation here, we talked about quite a bit. You obviously have a lot going on to look forward to.

If we were to look at halfway through the year, the end of 2022, is there anything you are particularly excited about, or kind of key initiatives or milestones that you would point to as things that make the year a success, or maybe anything to foreshadow or tease?

[00:30:41] Bruce:
I can’t tell you about some of the amazingly cool products that I’m incredibly excited about. We’d love to come back and share them when we can talk about them publicly. Overall, it’s this growing awareness of what you can get out of rowing for your family. There are a couple of things that are coming out that are gonna make it even more accessible and even more fun.

Most families have to make a choice. They can’t buy three devices. They can’t buy two devices. They need to buy one that fits in the spare room, or that fits really comfortably in their bedroom. We have a couple of solutions coming to market over the next few months that we think are going to open up the world of rowing for everybody.

So, we’re very, very excited about that. We’ll have to talk more when I can be more specific.

[00:31:35] Joe:
Yeah, open invitation for that. I will definitely take you up on that. Wwe’ll stay looped in and tuned in to all the developments in the interim.

If you hooked anybody here today or they want to follow along, where would you point them? What’s the best way to keep up with everything?

[00:31:53] Bruce:
Six letter website, H Y D R O W.com. In the UK, it’s a Hydrow.uk.

[00:32:04] Joe:
Awesome. Well, listen, I appreciate it. It was really good to catch up here and get the “two years down the road” update. It’s awesome to hear about the success and traction you guys continue to experience. Thanks for taking some time today.

[00:32:17] Bruce:
Great. Yeah. Thanks very much for the great questions. It was really fun.

Breaking down the business of fitness and wellness

Subscribe to receive industry headlines, trend reports, and investment activity — delivered every Tuesday.

    No thanks.