Fitness technology and smart bike producer Wahoo Fitness may soon run into liquidity woes and could default in the next 12 months, according to S&P Global Ratings.
The company’s revenue and profits have recently been weaker than the credit grader expected, as retailers placed fewer orders and freight and warehousing costs rose. Wahoo is now expected to post a free operating cash flow deficit of about $40 million in 2022, according to S&P.
Headquartered in Atlanta, Wahoo usually gets a boost in the second half of the year when its customers in the Northern Hemisphere seek more indoor fitness equipment ...
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