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Fitell Corporation (NASDAQ: FTEL) is an online retailer of gym and fitness equipment in Australia, operating through its wholly owned subsidiary GD Wellness Pty Ltd. The company markets proprietary brands—Muscle Motion, Rapid Motion, and FleetX—and offers over 2,000 stock-keeping units to a customer base exceeding 100,000.
Corporate Structure and Workforce
Headquartered in Taren Point, Fitell employs between 201 and 500 professionals across e-commerce, supply chain, product development, and customer support. Following its initial public offering on August 8, 2023, the company has focused on optimizing its distribution network and enhancing repeat sales.
Fitness Equipment by Kelly Sikkema
Developments and News
- April 3, 2025: Fitell received a notification from Nasdaq for 30 consecutive business days below the $1.00 minimum bid price requirement, triggering a compliance period through September 29, 2025.
- September 18, 2025: Shareholders approved a 1-for-16 share consolidation, effective September 23, 2025, to raise the bid price above the Nasdaq threshold.
- September 19, 2025: The company entered into a Securities Purchase Agreement to sell up to $100 million of senior secured convertible notes.
- September 23, 2025: Fitell issued $11 million of Series A convertible notes, carrying a 6.0% per annum interest rate, with a minimum of $10 million designated for cryptocurrency purchases.
Financial and Strategic Analysis
As of September 23, 2025, Fitell’s closing share price was $13.42, reflecting a 74.38% increase for the day, with 106,289 shares traded on NASDAQ. The 52-week range spans $5.76 (June 16, 2025) to $792.00 (December 18, 2024). Market capitalization stands at approximately $161.8 million, based on 21.02 million shares outstanding. Trailing twelve-month revenue was $4.47 million, with an EPS of –$10.63 and a net margin of –208.48%. The company’s beta is reported at 7.19, indicating a degree of stock volatility.
The convertible note financing provides up to $70 million in Series A notes, with subsequent closings up to $59 million contingent on market and operational conditions. Proceeds will support working capital, cryptocurrency investments, and potential measures to stabilize share price.
Market Position and Industry Context
Fitell operates in a growing e-commerce fitness-equipment sector, where proprietary branding and repeat-customer sales are significant differentiators. Compliance actions on Nasdaq and reliance on convertible debt indicate efforts to maintain listing status and enhance liquidity. The company’s digital platform and supplier partnerships align it with larger online retailers, although financial leverage and margin pressures present ongoing challenges.
tl;dr
On September 23, 2025, Fitell’s 1-for-16 share consolidation took effect to address Nasdaq’s $1.00 bid-price requirement. On the same day, the company issued $11 million of Series A convertible notes with a 6.0% annual interest rate as part of a $100 million offering. Its share price closed at $13.42 (+74.38%), while ongoing compliance measures aim to secure its Nasdaq listing through September 29, 2025.
