ATLANTA, Ga. (BRAIN) — Wahoo Fitness has made the Deloitte Fast 500 list, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Wahoo is only one of two fitness technology device companies to be named to the list; the other is Fitbit.
According to the list, Wahoo's revenues grew 235 percent from 2013 to 2016. The company was ranked 342nd by growth on the list of 500.
Chip Hawkins, Wahoo's founder and CEO, credits the strong growth to delivering products that resonate with fitness-conscious consumers.
"As a company, we are driven to innovate on fitness technology and leverage workout data so athletes can consistently improve the way they train and perform," said Hawkins in a press release. "We have a passion for cycling and fitness, and being recognized on the Fast 500 Company list for the first time is a tribute to the fact that following your passion can fuel strong business results. We're also honored to be one of the only fitness device technology companies on the list."
Overall, 2017 Technology Fast 500 companies achieved revenue growth ranging from 137 percent to 59,093 percent from 2013 to 2016, with median growth of 378 percent.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000, and current-year operating revenues of at least $5 million. Additionally, companies must be in business for a minimum of four years, and be headquartered within North America.
This ranking is compiled from nominations submitted to the Technology Fast 500 website, and public company database research conducted by Deloitte LLP.
More information on the awards at deloitte.com.
