Attributes 2742% Revenue Growth to Product Innovation, International Expansion and Increased Retail Distribution
LOS ANGELES (NOVEMBER 22, 2021) — Therabody today announced it ranked No. 61 on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 27th year. Therabody grew 2742% during this period.
Therabody CEO Benjamin Nazarian credits investments in international expansion, increased retail distribution, product diversification, and continuous research and innovation for the company’s 2742% growth.
“We recognize the importance of democratizing industry-leading wellness technologies that were previously only available to professional athletes and cutting-edge physical therapists, and Therabody’s growth indicates that people worldwide are increasingly interested in taking control of their health and well-being," Nazarian said. “As a pioneer in the category, we will accelerate our research and development effort to ensure that everybody has access to safe, effective, and high-quality products and solutions, as well as expand our omnichannel retail footprint so we can reach as many people as we possibly can."
Since 2017, Los Angeles-based Therabody has opened offices in Shanghai, Shenzhen, Tokyo, London, Dublin, Melbourne, and Dallas, and increased its retailer distribution from 40 stores in the U.S. to more than 17,000 retail doors globally. To date, the company has over 550 employees with more than 100 in international markets supporting sales in more than 60 countries. In early 2021, Therabody received an equity raise that included more than 100 influential people in sports, business, culture, and entertainment.
Overall, 2021 Technology Fast 500™ companies achieved revenue growth ranging from 212% to 87,037% from 2017 to 2020, with median growth of 521%.
About the 2021 Deloitte Technology Fast 500™
Now in its 27th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2017 to 2020.
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 US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Therabody® is a pioneer in the wellness technology space, developing products and services that optimize human performance and unlock the body’s natural ability to achieve health and well-being. Founded by Dr. Jason Wersland to alleviate his own debilitating pain after a traumatic accident, he invented the category-defining percussive therapy device, Theragun®, which has been rooted in more than a decade of research and development. The company continues to pave the way with its innovative ecosystem of wellness solutions, including pneumatic compression (RecoveryAir®), electrical stimulation (PowerDot®), vibration therapy (Wave Series), and USDA Certified Organic CBD (TheraOne®). Science is fundamental to Therabody’s DNA; Therabody uses existing science, combined with internal and external research, to validate products and services. Therabody’s products are embraced by both the medical community and millions of consumers worldwide. Currently available in more than 60 countries, including at company-owned retail stores and at Reset®, a whole-body wellness center. Therabody University, the company’s education division, offers a series of courses that connects practitioners, professional sports teams, and consumers with expert educators to learn how they can effectively integrate Therabody products into their daily routines. Therabody University’s comprehensive courses are accredited by several continuing education programs including BOC, PACE, NASM, and more. For more information, please visit www.therabody.com.
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