beatXP turns EBITDA positive; Eyes top spot in the market
Apr 10, 2023
Gurugram (Haryana) [India], April 10 (ANI/NewsVoir): beatXP, the fit-tech company based in Gurgaon has turned EBITDA positive since January this year. The company has grown its scale significantly and witnessed 5X growth in revenue over the previous year.
Product sales is the primary source of revenue for beatXP. The company is already a market leader in the Body Massagers and BMI weighing scales categories, with over 1 million units sold to date. These are also the two most profitable categories for beatXP. The company recently forayed into the smart watch category and it is also witnessing a growth of 25% on a month-on-month basis. Within, 4 months of it's launch, beatXP is already one of the top 10 smartwatch players in the market and it aims to be in the top 5 by the end of 2023.
In addition to the fit-tech and wearable segment, the company also plans to enter and establish its offline presence in the country.
Commenting on the company's performance, Ashish Dhuwan, Business Director at beatXP, said, "beatXP has turned EBITDA positive since the month of January. Advanced tech, affordability and consumer-centricity are our three key pillars, and we will continue to focus on them to grow our brand aggressively. While India is the fastest growing market for the smart wearable category, we are also planning to take beatXP overseas. We're excited about the long-term opportunity to build a global d2c fit-tech brand where we're offering premium quality products at the right pricing."
Aziz Alam, Business Director at beatXP, said, "Our operating metrics are great and one of the best in the industry. Also, with the same rate of momentum, we aim to scale our revenue by 7X in FY24. Our world-class smartwatches will be our biggest category, and we aim to capture 10% market share by the end of 2023 to become one of the top-selling brands in this category."
The brand's vision is to build India's top fit-tech-focused brand and make 10 million people healthier with the help of its products in the near future. In the coming times, the brand is all set to announce more digital campaigns roping in influencers and celebrities across the health, wellness, and fitness sectors.
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