The quarterly result extends a run of double-digit growth stretching back to Technogym’s 2016 Borsa Italiana listing, backed by a near-29 percent wholesale surge, Italy’s +20.7 percent gain and fresh commercial momentum from a tenth Olympic appearance.
Technogym posted consolidated revenues of €236.8 million in the first quarter of 2026, up 10.1 percent from a year earlier, as the Cesena-based fitness equipment and digital wellness group reported growth across all regions and both customer segments. The board approved the results on May 6, 2026.
Foreign exchange weighed on the reported figure, particularly in the Americas, where revenues rose 2.5 percent. At constant exchange rates, Technogym said revenues increased by €27.2 million, versus a €21.8 million gain on a reported basis.
| Technogym — Revenue by Customer Segment | ||||
| Q1, ended March 31 (€ millions) | ||||
| 2026 | 2025 | Change (€m) | Change (%) | |
| Commercial (BtoB) | 185.8 | 167.7 | +18.1 | 10.8% |
| Consumer (BtoC) | 51.0 | 47.3 | +3.7 | 7.9% |
| Total revenues | 236.8 | 215.0 | +21.8 | 10.1% |
| Total revenues (constant exchange rates)* | 242.2 | 215.0 | +27.2 | 12.6% |
Source: Technogym S.p.A. Q1 2026 revenue press release, May 6, 2026. All figures in € millions unless stated.
*Constant exchange rate figure disclosed at group total level only; segment-level constant FX breakdown not reported.
Italy leads all regions; wholesale channel posts near-29 percent gain
The geographic picture was uniformly positive, though the pace varied sharply by region. Italy recorded the fastest growth rate at 20.7 percent — notable for what has historically been an underpenetrated home market — followed by Asia-Pacific (APAC) and Middle East, India and Africa (MEIA) at 13.5 percent. Europe excluding Italy grew 8.6 percent. The Americas expanded 2.5 percent in reported terms, with the company pointing to unfavorable exchange rates as a constraint.
| Technogym — Revenue by Geography | ||||
| Q1, ended March 31 (€ millions) | ||||
| 2026 | 2025 | Change (€m) | Change (%) | |
| Europe (excl. Italy) | 112.9 | 103.9 | +9.0 | 8.6% |
| Americas† | 36.6 | 35.7 | +0.9 | 2.5% |
| MEIA (Middle East, India & Africa) | 31.9 | 28.1 | +3.8 | 13.5% |
| Asia-Pacific | 30.4 | 26.5 | +3.8 | 14.4% |
| Italy | 25.0 | 20.7 | +4.3 | 20.7% |
| Total revenues | 236.8 | 215.0 | +21.8 | 10.1% |
Source: Technogym S.p.A. Q1 2026 revenue press release, May 6, 2026. All figures in € millions unless stated.
† Americas includes North America and Latin America. MEIA full form not stated in source; expanded here for reader clarity — verify with company.
The channel mix points to a more structural shift.
Wholesale — distributor-led — surged 28.8 percent to €74.0 million, lifting its share of group revenues to 31.2 percent from 26.7 percent a year earlier. Retail also rose at a double-digit pace, up 24.1 percent. Field sales, still the largest channel at €138.9 million, increased 2.9 percent. Inside sales — which includes e-commerce and teleselling — fell 3.2 percent, the only channel to contract in the period.
| Technogym — Revenue by Distribution Channel | ||||
| Q1, ended March 31 (€ millions) | ||||
| 2026 | 2025 | Change (€m) | Change (%) | |
| Field sales | 138.9 | 135.0 | +4.0 | 2.9% |
| Wholesale (distributors) | 74.0 | 57.4 | +16.5 | 28.8% |
| Inside sales‡ | 14.8 | 15.3 | -0.5 | -3.2% |
| Retail | 9.0 | 7.3 | +1.8 | 24.1% |
| Total revenues | 236.8 | 215.0 | +21.8 | 10.1% |
Source: Technogym S.p.A. Q1 2026 revenue press release, May 6, 2026. All figures in € millions unless stated.
‡ Inside sales includes e-commerce and teleselling channels.
On the customer side, commercial clients (B2B) drove the headline number, advancing 10.8 percent to €185.8 million and accounting for 78.5 percent of total revenues.
Tenth Olympic engagement underpins brand visibility; company unveils RUN X event
Technogym said the quarter marked its tenth consecutive appointment as exclusive official supplier to the Olympic and Paralympic Games, this time for the Milano Cortina 2026 Winter Games. It said it equipped 22 training centers with 1,000 pieces of equipment for more than 3,500 athletes from over 90 countries, spanning 16 Olympic and six Paralympic disciplines.
At its annual partner convention, which the company said drew delegates from more than 120 countries, Technogym introduced RUN X, which it described as a world championship dedicated to treadmill running. The elimination phase will run through clubs connected to the Technogym Ecosystem, with the final venue due to be announced on June 3.
Google partnership and product launches accompany operational updates
Separately, Technogym announced a partnership with Google to expand services within its AI Ecosystem for consumers and facility operators. It also said it completed the Pure Strength equipment line, launched Sand Stone for the wellness luxury living segment, and commissioned a photovoltaic installation at Technogym Village that it said can meet up to 100 percent of the campus’s energy needs. The company said it was included in the Dow Jones Best in Class Index 2026.
