In fiscal 2024, the company had two vendors each representing more than 11% but less than 49% of trade payables. In fiscal 2023, one vendor accounted for 37% of trade payables. The company depends on a limited number of retail customers for a significant portion of net sales, with one customer accounting for 12% of net sales in fiscal 2024 and one customer accounting for 19% in fiscal 2023. The company maintains restricted cash as required by its banking partner and utilizes foreign exchange forward contracts to manage currency exposure. Inventories are valued at the lower of cost and net realizable value using the first-in, first-out method, with allowances for excess, slow-moving, and obsolete inventory based on inventory levels and expected product life.
Bowflex Inc's Comment on Supply Chain
In fiscal 2024, the company had two vendors each representing more than 11% but less than 49% of trade payables. In fiscal 2023, one vendor accounted for 37% of trade payables. The company depends on a limited number of retail customers for a significant portion of net sales, with one customer accounting for 12% of net sales in fiscal 2024 and one customer accounting for 19% in fiscal 2023. The company maintains restricted cash as required by its banking partner and utilizes foreign exchange forward contracts to manage currency exposure. Inventories are valued at the lower of cost and net realizable value using the first-in, first-out method, with allowances for excess, slow-moving, and obsolete inventory based on inventory levels and expected product life.
Sources:
Bowflex Inc 's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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