Fitell
Fitell Corporation (Nasdaq: FTEL), now GMEX Robotics Corporation, is an Australia-based company that sells proprietary fitness equipment via the Gym Direct DTC platform to over 100,000 customers while expanding into AI-driven robotics (2F Robotics JV) and operating a Solana digital asset treasury.
- Company typePublic
- Founded2007
- HeadquartersSydney, Australia
- Headcount11–50
- GTM type—
- OfferingHardware or Manufacturing
What Fitell does
Fitell Corporation, recently renamed GMEX Robotics Corporation following redomiciliation to the British Virgin Islands in March 2026, operates as a publicly traded entity (Nasdaq: FTEL) that has evolved from an Australian online fitness equipment retailer into a diversified technology and digital asset holding company. Its core operating subsidiary, GD Wellness PTY LTD (founded 2007), sells gym and fitness equipment direct-to-consumer through the Gym Direct platform under three proprietary brands — Muscle Motion (strength training), Rapid Motion (commercial equipment), and FleetX (cardio) — spanning more than 2,000 SKUs to a base exceeding 100,000 customers. Complementary business lines include the mYSTEPS turnkey licensing program for boutique fitness studios and an interactive fitness equipment offering built around smart-connected bikes, treadmills, workout mirrors, and the in-development 1FinalRound AI training platform.
The company's technology layer was substantially expanded in late 2025 with the formation of the 2F Robotics joint venture (majority-owned by Fitell) alongside Chinese robotics partner GZ Fukonn Vanguard Intelligent Technology. 2F Robotics has produced two commercial products: the 2FCulinary AI personal robot chef (launched December 2025), which uses generative AI and precision dispensing to tailor meals to individual health data, and the Hospital Logistics Robot (upgraded April 2026), which employs computer vision, facial recognition, and palm vein biometrics for healthcare facility automation. Fitell retains full intellectual property rights to JV outputs.
Revenue is generated through four channels: hardware sales of fitness equipment (DTC e-commerce and B2B commercial sales), licensing royalties from mYSTEPS franchisees, recurring subscription revenue tied to interactive fitness platforms (in development), and yield from a $100 million Solana digital asset treasury launched in September 2025 — making the firm the first Solana-based treasury vehicle in Australia. The company declared its first-ever interim dividend of $0.10 per share in December 2025 alongside a $3 million share repurchase program, indicating management confidence in liquidity (current ratio reported at 4.44).
Fitell firmographics
Firmographics- Name
- Fitell
- Legal name
- Fitell Corporation
- Website
- https://fitellcorp.com
- Company type
- Public
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Fitell Corporation (Nasdaq: FTEL), now GMEX Robotics Corporation, is an Australia-based company that sells proprietary fitness equipment via the Gym Direct DTC platform to over 100,000 customers while expanding into AI-driven robotics (2F Robotics JV) and operating a Solana digital asset treasury.
- Ownership category
- akta.pro rank
Fitell industry classification
Industry- Product category
- Online Fitness Equipment Retail
- NAICS
- Sporting Goods Retailers (45911), Commercial and Service Industry Machinery Manufacturing (3333), Food Product Machinery Manufacturing (333241)
- SIC
- Sporting & Athletic Goods, Nec (3949)
- akta.pro primary industry
- Fitness Equipment & Performance Accessories Retail (CRAMABAD)
- akta.pro secondary industries
- Home Gym Systems & Smart Fitness Equipment Retail (Connected Mirrors, Smart Bikes, All-in-One Gyms) (CRAMADAG), Fitness Wearables & Training Tech Retail (Heart-Rate Monitors, GPS Watches, Sensors) (CRAMADAH), Cardio Equipment Retail (Treadmills, Bikes, Rowers, Ellipticals) (CRAMADAA), Strength Training Equipment Retail (Racks, Benches, Barbells, Plates) (CRAMADAB)
Keywords
Where Fitell is headquartered
LocationHeadquarters
- HQ city
- Sydney
- HQ country
- Australia
- HQ region
- Oceania
Offices2 records
Markets served
Fitell business model
Business model- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Marketing or Sales, Operations, Personnel, Technology or R&D, Infrastructure
Revenue model
- Fitness Equipment Sales: Online retail sales of gym and fitness equipment under proprietary brands (Muscle Motion, Rapid Motion, FleetX) and other brand names, offering over 2,000 SKUs to consumers and commercial customers.
- Licensing Business: Turnkey licensing solution for personal training studios and commercial gym chains under the mYSTEPS brand. Services include site selection, design, equipment outfitting, training, and ongoing operational support for franchisees.
- Digital Asset Treasury: Solana (SOL) digital asset treasury with $100 million financing facility, generating yield through diversified on-chain DeFi strategies. Initial $10 million SOL purchase completed, with assets held by BitGo Trust in the U.S.
- Subscription Services: Joint development of interactive fitness equipment and platforms with subscription service for AI-powered training content and connected fitness experiences.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | One-time | Interim dividend of $0.10 per share |
| Other | One-time | Shareholder loyalty program up to $0.15 per share |
| Other | Multi-year contract | $3 million share repurchase program |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels4 records
Fitell product offering
Product offeringCore offering
Fitell Corporation is an online retailer of gym and fitness equipment sold under proprietary brands Muscle Motion (strength training), Rapid Motion (commercial equipment), and FleetX (cardio), distributed via the Gym Direct e-commerce platform with over 2,000 SKUs and more than 100,000 customers. The company complements its core equipment business with turnkey boutique fitness studio licensing under the mYSTEPS brand, smart connected fitness equipment paired with the 1FinalRound AI training platform, and AI-driven robotics developed through its 2F Robotics joint venture (including 2FCulinary AI robot chef and Hospital Logistics Robot).
Product overview
Fitell Corporation operates as an online retailer of gym and fitness equipment with a multi-brand portfolio under the Gym Direct umbrella: Muscle Motion (strength-training), Rapid Motion (commercial equipment), and FleetX (cardio equipment), spanning over 2,000 SKUs. The company complements its core fitness equipment business with three technology-driven verticals: (1) Interactive Fitness Equipment & APP featuring smart connected bikes, treadmills, and workout mirrors paired with the 1FinalRound AI training platform; (2) mYSTEPS Fitness Licensing offering turnkey studio solutions; and (3) AI-driven robotics through the 2F Robotics joint venture, including the 2FCulinary AI robot chef and Hospital Logistics Robot. The company also announced a $50 million financing to fund robotics development targeting consumer and industrial markets.
Differentiator
Problem solved
Functional benefit
Brands
- Gym Direct: Parent brand umbrella for proprietary fitness equipment brands including Muscle Motion, Rapid Motion, and FleetX
- Muscle Motion
- Rapid Motion
- FleetX
- mYSTEPS
- 1FinalRound
- Lion Loyalty
- 2FCulinaryAI
Products and services
- Muscle Motion Strength Training Equipment
- Rapid Motion Commercial Fitness Equipment
- FleetX Cardio Equipment
- Interactive Fitness Equipment & APP
- 1FinalRound AI Training Platform
- mYSTEPS Fitness Studio Licensing
- 2FCulinary AI Personal Robot Chef
- Hospital Logistics Robot
Quantifiable outcome
- Customer base growth from 60,000 to over 100,000 members between 2019-2023
- +3 more outcomes
Companies that use Fitell
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
Fitell technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability7 records
Feature5 records
Fitell partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and flagship.
- 2F RoboticscoreJoint venture majority-owned by Fitell Corporation focused on developing AI-driven robotic technologies and automation systems. 2F Robotics developed 2FCulinary AI, the company's first AI-driven personal robot chef, and is developing AI-powered training platform 1FinalRound. Supported by $50 million stablecoin financing.
- GZ Fukonn Vanguard Intelligent TechnologycoreAsia-based robotics company with existing deployments in Canada and the Middle East. Partnered with Fitell to form 2F Robotics joint venture, majority-owned by Fitell, to develop AI-driven robotics and automation systems across consumer and industrial applications. Fitell retains full intellectual property rights while leveraging partner's technology and existing distribution infrastructure to market products across Australia and the United States.
- Js & Je Company LimitedflagshipFirst licensee partner for mYSTEPS fitness studio concept. Company assisted in opening 6 mYSTEPS fitness centers in Eastern China as of April 25, 2022. Represents the company's turnkey licensing solution for boutique fitness studio operators.
Scale indicators9 records
Recent moves7 records
Expansion highlights6 records
Fitell competitors and assessment
Company assessmentEmerging players
- Tonal: Tonal is a smart strength-training platform with connected hardware and AI coaching, comparable to Fitell's planned 1FinalRound AI training platform integrated with connected equipment.
- Hydrow: Hydrow is a connected rowing machine with a subscription content experience, closely comparable to Fitell's FleetX cardio line plus interactive content strategy.
- Diligent Robotics: Diligent Robotics develops the Moxi hospital logistics robot, directly comparable to Fitell's upgraded Hospital Logistics Robot product launched in April 2026.
- Miso Robotics: Miso Robotics builds AI-enabled robotic kitchen automation (Flippy), comparable to Fitell's 2FCulinary AI precision-dispensing robotic chef targeting food-service automation.
Direct peers
- Peloton Interactive: Peloton sells connected fitness equipment (bikes, treadmills) paired with a subscription content platform, directly mirroring Fitell's Interactive Fitness EQT & APP and 1FinalRound AI training platform strategy.
- iFIT (ICON Health & Fitness): iFIT operates a hardware-plus-subscription connected fitness model across NordicTrack, ProForm and other fitness equipment brands, making it the closest direct competitor to Fitell's smart connected equipment roadmap.
- Nautilus, Inc. Nautilus designs and markets Bowflex, Schwinn and JRNY-branded strength and cardio fitness equipment, directly comparable to Fitell's Muscle Motion, Rapid Motion and FleetX equipment portfolio.
- Bear Robotics: Bear Robotics builds AI-driven service robots for food service and hospitality, the closest pure-play comparable to Fitell's 2FCulinary AI robotic chef under the 2F Robotics JV.
- Aethon (St. Clair Technologies / TUG): Aethon's TUG autonomous mobile robots deliver hospital logistics and supply-chain automation, the most directly comparable autonomous hospital logistics platform to Fitell's Hospital Logistics Robot.
Broad incumbents
- Life Fitness: Life Fitness is a long-established commercial and home fitness-equipment manufacturer whose breadth of cardio and strength products competes with Fitell's commercial gym and home-gym offerings.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Fitell social profiles
Digital presenceFitell financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fitell leadership team
Management profileNumber of profiles
Profiles9 records
Fitell subsidiaries and ownership
Company hierarchySubsidiaries2 records
Fitell funding detail
Funding detailFunding overview
Funding rounds5 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fitell M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fitell
What does Fitell do?
Fitell Corporation is an online retailer of gym and fitness equipment sold under proprietary brands Muscle Motion (strength training), Rapid Motion (commercial equipment), and FleetX (cardio), distributed via the Gym Direct e-commerce platform with over 2,000 SKUs and more than 100,000 customers. The company complements its core equipment business with turnkey boutique fitness studio licensing under the mYSTEPS brand, smart connected fitness equipment paired with the 1FinalRound AI training platform, and AI-driven robotics developed through its 2F Robotics joint venture (including 2FCulinary AI robot chef and Hospital Logistics Robot).
Is Fitell a public or private company?
Fitell is a public company. It is classified as public and is currently operating.
When was Fitell founded?
Fitell was founded in 2007. It employs 11 to 50 people.
Where is Fitell based?
Fitell is headquartered in Sydney, Australia, in the Oceania region.
How does Fitell make money?
Four revenue lines are on record. Fitness Equipment Sales are the primary driver. The others are licensing Business, digital Asset Treasury and subscription Services.
Who are Fitell's main competitors?
Emerging players on record are Tonal, Hydrow, Diligent Robotics and Miso Robotics. Direct peers are Peloton Interactive, iFIT (ICON Health & Fitness), Nautilus, Inc., Bear Robotics and Aethon (St. Clair Technologies / TUG). Life Fitness is listed as a broad incumbent.
Does Fitell have an API?
No public API is recorded for Fitell.
What industry is Fitell in?
Fitell's product category is Online Fitness Equipment Retail. Its primary akta.pro industry code is CRAMABAD, Fitness Equipment & Performance Accessories Retail, with a secondary code of CRAMADAG, Home Gym Systems & Smart Fitness Equipment Retail (Connected Mirrors, Smart Bikes, All-in-One Gyms). Its NAICS code is 45911 and its SIC code is 3949.