NexerSys Shark Tank Net Worth 2023 | What Happened After Shark Tank Pitch?
NexerSys Shark Tank Net Worth
As of 2023, the company’s net worth is estimated to be around $5 million. Revenue in June 2022 was reported to be $5.1 million.
Nexersys is a fitness technology company that appeared on Shark Tank in 2014. The CEO, Terry Jones, pitched the Nexersys system, which is an interactive and intelligent fitness and gaming platform that delivers a fast, fun, and effective workout for everyone.
Jones wanted a $2 million investment for a 10% stake in Nexersys. The company had made $4.2 million in sales over 18 months. However, Nexersys didn’t land a deal on Shark Tank due to its debt at the early stage and the cost of the product.
The valuation of Nexersys was $20 million when it appeared on Shark Tank. As of 2022, the net worth of Nexersys is $5 million.
The company has been growing steadily since appearing on Shark Tank, and its products are now available in over 1,000 locations. Revenue in June 2022 was reported to be $5.1 million.
In conclusion, while Nexersys did not get a deal on Shark Tank due to its debt at the early stage and high product cost, it has been growing steadily since appearing on the show. Its valuation was $20 million when it appeared on Shark Tank, but as of 2022, its net worth is $5 million.
What is NexerSys and Who is the Founder of NexerSys?
NexerSys is a unique exercise system that was created especially for boxing and mixed martial arts (MMA) enthusiasts. It is a combination of an interactive gaming platform and a fitness intelligence component.
The system incorporates motion-sensitive pads for punching and kicking, providing a quick and engaging workout suitable for individuals of all ages and skill levels.
Users can select their preferred activity, and a virtual personal trainer will guide them through the workout, rewarding them with points and prizes, much like a video game.
NexerSys comes in two versions, one smaller for home use and one larger for gym use, priced at $2995 and $7000, respectively.
The founder and CEO of NexerSys are Terry Jones, who has a background in sales and marketing, holding senior roles in various firms. Terry founded the parent company XFit Inc to develop NexerSys after struggling to find a suitable MMA/boxing exercise routine to include in his home workout.
Although Terry attempted to raise funds via Kickstarter in 2013, he only managed to raise $13K of his $150K goal. Despite criticism from Kickstarter backers, the testimonial page on the NexerSys website contains positive feedback from satisfied customers.
After patenting and manufacturing the product, Terry promoted it on TV shopping channels and through digital and print media marketing. In the first 18 months, NexerSys generated $4.2 million in sales.
However, the high production and advertising expenses, coupled with the need to repay shareholder obligations, led to the company’s lack of profitability.
Terry continues to serve as the CEO of NexerSys, while also holding the post of Managing Director for a manufacturing and distribution firm.
NexerSys Shark Tank Pitch
During season 5 episode 16 of Shark Tank, Terry Jones pitched NexerSys, offering $2 million for a 10% stake in the company, valuing it at $20 million. Jones demonstrated NexerSys’ unique method, which involved a frame with pads that users strike while the computer creates personalized workouts based on their input.
The Sharks tested the system, but concerns were raised about the company’s $7.5 million shareholder debt. Despite the high valuation, none of the Sharks agreed to invest in NexerSys.
However, since the pitch, NexerSys has seen a significant increase in sales, with a 450% boost leading to profitability months ahead of schedule. The company has also introduced new products and expanded sales into foreign regions.
They continue to sell industrial versions for use in gyms, and annual sales reached $5 million by August 2021. Additionally, the company has reduced its debt load by converting Convertible Subordinated Notes to stock and servicing the remaining debt through cash flow.
Summary Table:Nexersys Shark Tank
INFORMATION | DETAILS |
Year | 2023 |
Net worth | $5 million |
Revenue as of June 2022 | $5.1 million |
Shark Tank episode | Season 5, Episode 16 |
Valuation during Shark Tank pitch | $20 million |
CEO and Founder | Terry Jones |
Investment sought during Shark Tank pitch | $2 million for a 10% stake |
Product | Interactive and intelligent fitness and gaming platform |
Company | NexerSys, a fitness technology company |
Competitors | Pro Fitness, Yowza Fitness, TRUE |
Note: NexerSys did not get a deal on Shark Tank due to its debt at the early stage and the cost of the product.
NexerSys Net Worth
At the Shark Tank, the company was valued at $20 million.
NexerSys Shark Tank Updates
Nexersys is a fitness equipment company that appeared on Shark Tank in season 5. The company’s CEO, Terry Jones, demonstrated the Nexersys system, which is a combination of arcade games and exercise equipment that provides a cardio boxing workout.
The system is designed to give users a “hard body and a sharp mind”. Jones entered the Shark Tank seeking a $2 million investment in exchange for a 10% stake in the company, valuing the company at $10 million. However, none of the Sharks made a deal with Jones.
Despite not securing a deal on Shark Tank, Nexersys experienced a significant increase in sales, with a reported 450% increase since appearing on the show. This increase in sales allowed the company to become profitable months before predicted.
As of 2023, Nexersys is still in business and has continued to grow. In a 2019 interview, Jones stated that the company was able to avoid bankruptcy, buy out shareholders in 2017, and repay all its debt in 2019. The company’s products are now available in over 1,000 locations.
NexerSys Competitors
Top Competitors of NexerSys Corporations
Pro Fitness, Yowza Fitness, TRUE Fitness, Advanced Fitness Group, ProMaxima Manufacturing, Stamina Products, Horizon Fitness, and At Home Fitness.
NexerSys FAQS
What Is Nexersys Shark Tank?
Nexersys is a fitness technology company that appeared on the TV show Shark Tank in 2014. The company’s CEO, Terry Jones, pitched the Nexersys system, which is an interactive and intelligent fitness and gaming platform that delivers a fast, fun, and effective workout for everyone.
The Nexersys system is a workout equipment that uses video games to make working out more fun. The system is part arcade game, part exercise equipment, and it’s touted as giving you a “hard body and a sharp mind”.
The Nexersys system is a cardio boxing exercise equipment product that includes punching and kicking pads, all hooked up in an arrangement with an output display at the top.
During the Shark Tank episode, Terry Jones sought a $2 million investment for a 10% stake in Nexersys. However, the Sharks declined to invest but provided a lot of comments. The Sharks were concerned about the company’s debt, which was too high for an early-stage company.
Despite not landing a deal on Shark Tank, Nexersys turned things around and avoided bankruptcy by buying out its investors about two years prior.
Since appearing on Shark Tank, sales have increased by 450%, allowing the company to become profitable months earlier than predicted. The company’s products are now available in over 1,000 stores nationwide.
How Does Nexersys Shark Tank?
Nexersys is a fitness tech company that appeared on Shark Tank in 2014. The CEO, Terry Jones, brought Olympic boxer Marlen Esparza to demonstrate the Nexersys system, which is an interactive and intelligent fitness and gaming platform that delivers a fast, fun, and effective workout for everyone.
The system is part arcade game, part exercise equipment, and it is designed to give users a hard body and a sharp mind. The Nexersys system is an elaborate system of punching and kicking pads, all hooked up in an arrangement with an output display at the top.
During the Shark Tank pitch, Terry Jones sought a $2 million investment in exchange for a 10% stake in Nexersys, valuing the company at $10 million. However, none of the Sharks made a deal with Jones, citing concerns about the company’s debt.
Despite not securing a deal, Nexersys experienced the “Shark Tank effect,” which resulted in a 450% increase in sales after the episode aired. This increase in sales allowed the company to become profitable months earlier than predicted and to reduce its debt.
Since appearing on Shark Tank, Nexersys has continued to grow steadily, and its products are now available in over 1,000 locations. The company has also developed new products, such as the N3 products, which are available on their website.
Overall, the Shark Tank experience was excellent for Nexersys, and the company is grateful for the opportunity to showcase its products and software to the world.
What Happened To Nexersys Shark Tank?
appeared on Shark Tank in 2014. The company’s CEO, Terry Jones, pitched the Nexersys system, which is an “interactive and intelligent fitness and gaming platform that delivers a fast, fun, and effective workout for everyone”.
Jones wanted a $2 million investment for a 10% stake in Nexersys, which was valued at $20 million during the show. However, the company did not land a deal on Shark Tank.
The reason why Nexersys did not get a deal on Shark Tank was due to its debt at the early stage and the cost of the product, which was $7,000 for the commercial unit and $2,995 for the home unit.
Despite not winning a deal, the company’s sales increased over 450% within a few months, leading to the gathering of 50% of profits that came from royalty revenue and software licenses.
After appearing on Shark Tank, Nexersys added several products, including a boxing trainer and a budget-priced ($295) cross-fit trainer. The company was able to become profitable, and all debt was eliminated by the end of 2019.
As of 2022, Nexersys’ net worth is $5 million. The company’s products are now available in over 1,000 locations, and it was utilized during the 16th season of “The Biggest Loser”.
Is Nexersys Shark Tank Still In Business?
Yes, Nexersys is still in business as of 2023. Since appearing on Shark Tank, the company has expanded its selection to include other products, including budget-priced cross-fit trainers. The company’s annual revenue as of January 2023 is $5 million.
The “Shark Tank effect” contributed to the company’s increased revenue, even though it did not successfully land a deal on the show. The company saw a growth of 450% in sales after appearing on Shark Tank.
The company’s overall profits are largely derived from software and royalty payments.
In episode 502 of Shark Tank, Terry Jones, the CEO of Nexersys, entered the Tank seeking a $2 million investment in exchange for a 10% stake in his company.
The Sharks were impressed by the product but ultimately did not make a deal due to concerns about the company’s debt. Despite not landing a deal on the show, the company has continued to thrive and expand its product offerings.
What Is The Current Valuation Of Nexersys Shark Tank?
NexerSys is a fitness tech company that appeared on Shark Tank seeking a $2 million investment in exchange for a 10% stake in the company. Terry Jones, the CEO of NexerSys, valued the company at $20 million.
However, the Sharks did not make a deal with NexerSys due to its high production cost and debt at the early stage. Despite not securing a deal, NexerSys reported a remarkable 450% increase in sales after appearing on Shark Tank.
As of 2022, NexerSys’ net worth is estimated to be around $5 million. In 2019, the company reported $677,000 in total equity and $932,162 in total sales. NexerSys has been growing steadily since appearing on Shark Tank, and its products are now available in over 1,000 locations.
How much was he asking in the Shark Tank Pitch?
He was seeking a $2 million investment for a 10% stake in the company.
Did he get a deal from the Sharks?
He didn’t receive an investment from the Sharks.
Is NexerSys still in debt?
They have continued to grow and remain debt-free over the last few years, all while focusing on their primary objective of customer satisfaction. Additionally, they have launched their NEW N3 SERIES.
Was NexerSys successful?
He generated $4.2 million in sales in the first 18 months.
Does Terry Jones still own NexerSys?
At the time of the broadcast, shareholder debt was at $7.5 million, a figure that alarms the Sharks. Jones controls around 35% of the corporation.
Where is NexerSys located?
The Company is headquartered in Austin, Texas.
What is the company’s website?
The Company’s website is www.nexersys.com.
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Who is the CEO of NexerSys?
Terry Jones.
How many difficulty levels are there?
The course is divided into three levels: beginner, intermediate, and advanced.
How many rounds can they do in a workout?
A workout may have a maximum of 15 rounds.
How many different types of workouts can they do with NexerSys?
With NexerSys, there are hundreds of possible training scenarios.
What program should they use for their workouts?
They advise everyone to begin at the beginning level. They can always go to the intermediate or advanced levels if necessary.
A minimum of five rounds will provide them with the most comprehensive workout experience, but they should adjust the number of rounds to their degree of comfort or the amount of time available for that activity.
How often should they use their NexerSys?
Active individuals should engage in at least 150 minutes of moderate-intensity aerobic physical exercise or 75 minutes of vigorous-intensity aerobic physical activity every week, according to experts.
NexerSys training regimens are high-intensity activities, thus 5 rounds, 5 days a week is recommended.
Three days every week is the bare minimum
What is the net worth of Terry Jones?
Unknown.
What are the strengths of NexerSys?
The Company offers customers a unique, innovative training method. The physical trainer uses the device to design the workout for each individual.
What are the weaknesses of NexerSys?
NexerSys is an expensive product.
Is it possible to hit the NexerSys too hard?
Yes. NexerSys is not a children’s game. If they strike the unit too hard, they risk injuring themselves or causing damage to the machine.