...A. Updated FY22 Outlook: Stay-at-home and work-from-home orders, coupled with commercial gym closures, drove massive awareness gains for Connected Fitness accelerating adoption curve that was already well underway. 1. Given unprecedented circumstances presented by the global pandemic, stated in 4Q21 that modeling exit from COVID and massive growth in FY21 would be a challenging task. a. Certainly proven to be true. i. b. With reduced backlogs, Co.'s visibility into future performance has become more limited. c. From forecasting consumer demand to accurately predicting logistics costs, teams have never seen a more complex operating environment in which to guide or expect results this year. 2. Reducing guidance. Returned to presenting ranges given the uncertainty. a. b. Swift timing of these changes since giving initial guidance in Aug. is not lost on Co. 3. As Co. prepared previous guidance, had to make assumptions about consumer behavior coming out of COVID, impact of original Bike price...
