Net loss for the final quarter expanded to €21 million ($24.8 mm) from a loss of €10 million the year before, on 10% higher revenues of €246.7 million ($291.6 mm) up from €224.3 million in Q4 ’20. Revenue growth was severely constrained by supply shortages, specifically complete bikes. Excluding full-bike sales, revenues increased 19%. Adjusted EBITDA dropped 85% to €0.9 million from €6.0 million, and gross margin expanded 182 basis points to 38.0%.

SSU had a very busy year, starting with the acquisition of Midwest Sports, followed by Tennis Express and WiggleCRC, which both closed in Dec., and then its reverse ... Log in to view full article.