Stages Cycling

What Stages Cycling does

Stages Cycling is a Boulder, Colorado-based cycling technology company founded in 2012 that designs, manufactures, and sells power meters, commercial and consumer indoor cycling bikes, GPS cycling computers, and digital fitness solutions. Its core proprietary technology is crank-arm-embedded power measurement, offered in left-sided, right-sided, and dual-sided configurations compatible with Shimano drivetrains (Dura-Ace, Ultegra, 105, GRX). The product portfolio extends into the SC Series (SC1/SC2/SC3) commercial indoor bikes for studios, the SB20 smart bike for home training with Zwift integration, the Dash 200 GPS cycling computer, and the Studio Pro/Studio Boost digital fitness platforms that provide real-time performance data and post-class analytics for group cycling environments.

The company operates a hybrid go-to-market model: direct-to-consumer e-commerce through localized storefronts in 10+ countries (US, Canada, UK, Germany, Spain, France, Italy, Netherlands, Australia), an authorized dealer network of local bike shops, and a dedicated commercial sales channel for fitness studios and gyms. Revenue is generated primarily through hardware sales (power meters ranging from approximately $355 to $1,260; SC Series and SB20 commercial/consumer bikes; GPS computers; accessories), with modest subscription/recurring revenue components embedded in its digital fitness solutions. Brand strengths include 7 Grand Tour wins and 10 World Championships credited to Stages-equipped athletes, deployment in over 4,000 gyms and studios worldwide, and a 27,000+ network of certified coaches and instructors.

In late 2024 the original Stages Cycling entity filed for bankruptcy, and its assets — including product lines and manufacturing facilities — were acquired by Giant Group USA (the U.S. subsidiary of Taiwanese Giant Group Manufacturing Inc.) for $20.1 million. The brand continues to operate under SPIA Cycling, with Giant Group USA planning to relocate its U.S. headquarters from California to Boulder, Colorado by late 2026.

Name

Stages Cycling

Legal name

SPIA Cycling

Website

https://stagescycling.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

51–100 employees

Short description

Stages Cycling is a Boulder, Colorado-based cycling technology company founded in 2012 that designs and sells crank-arm power meters, commercial and consumer indoor cycling bikes, GPS cycling computers, and digital fitness solutions for studios and individual cyclists, operating via DTC e-commerce in 10+ countries and a dedicated commercial sales channel.

Ownership category

akta.pro rank

Product category

Cycling Performance Equipment

NAICS

Motorcycle, Bicycle, and Parts Manufacturing (336991)

SIC

Motorcycles, Bicycles & Parts (3751)

akta.pro primary industry

Bike Parts & Components Retail (CRAMAHAB)

Keywords

• Cycling power meters
• Indoor cycling bikes
• GPS bike computers
• Fitness studio equipment
• Cycling performance technology

Headquarters

HQ city

Boulder

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Hardware Sales - Power Meters: Sale of cycling power meters that attach to bicycle crank arms, ranging from left-sided single-side units to dual-sided power meters. Prices range from approximately $354.99 to $1,259.99 USD depending on specification and Shimano compatibility.
2. Hardware Sales - Indoor Cycling Bikes: Commercial and consumer indoor cycling bikes including the SC Series (SC1, SC2, SC3) for studios and the SB20 smart bike for home use.
3. GPS Bike Computers: Sale of Stages Dash GPS cycling computers, including the Dash 200 series.
4. Software Subscriptions: Stages Cycling App and digital fitness solutions (Studio Pro, Studio Boost) may include subscription components for advanced features and data analytics.
5. Accessories and Replacement Parts: Sale of accessories including battery doors, heart rate monitors, and SB20 replacement parts.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Stages Cycling designs, manufactures, and sells cycling performance hardware and software, with its flagship offerings being crank-arm-embedded power meters (left-sided, right-sided, and dual-sided units compatible with Shimano drivetrains), commercial SC Series indoor cycling bikes for fitness studios, the consumer SB20 smart bike, Stages Dash GPS cycling computers, and digital fitness solutions (Studio Pro and Studio Boost) for studios. The company sells direct-to-consumer via its own e-commerce platform globally and through a dealer network, with a dedicated commercial channel serving gyms and studios.

Product overview

Stages Cycling offers a unified product ecosystem centered on power measurement and indoor cycling technology. The core portfolio includes Stages Power Meters (available in left-sided, right-sided, and dual-sided configurations for Shimano drivetrains), the SC Series of commercial indoor bikes (SC1, SC2, SC3) for fitness studios, and the SB20 smart bike for home training. Supporting the hardware are digital fitness solutions: Stages Studio Pro and Studio Boost for studio data visualization and performance scoring, plus the Stages Cycling mobile app. The company also produces GPS bike computers (Dash series) and accessories including heart rate monitors and replacement parts. The portfolio is unified around power-based training data, connecting outdoor cycling with indoor studio experiences and virtual platforms like Zwift.

Differentiator

Problem solved

Functional benefit

Brands

• Stages Power: Power meters that measure cycling performance, including left-sided, right-sided, and dual-sided variants compatible with Shimano drivetrains.
• Stages SC Series
• Stages SB20 Smart Bike
• Stages Dash
• Stages Studio (Studio Pro / Studio Boost)

Products and services

• Stages Power Meters Cycling power meters available in left-sided, right-sided, and dual-sided configurations compatible with Shimano drivetrains (Dura-Ace R9200, Ultegra R8100, 105 R7100, GRX). Pricing ranges from $354.99 USD for entry-level left-sided models to $1,259.99 USD for premium dual-sided Dura-Ace units. Designed for road cyclists, mountain bikers, and triathletes who want accurate wattage measurement for training optimization.
• Stages SC Series Indoor Bikes

Quantifiable outcome

• 7 Grand Tour Wins & 10 World Championships achieved by cyclists using Stages power meters
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature5 records

Partnerships

Two partnerships are on record, tiered minor.

• Les MillsminorStrategic or Co-development PartnerStages Cycling offers the Les Mills Virtual Bike, a partnership bringing Les Mills group fitness programming to Stages indoor bikes for an immersive cardio experience.
• FascatminorGTM or Marketing PartnerExclusive limited-time offer where customers who buy a Stages Power Meter receive 1 month of 1:1 coaching from Fascat.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Garmin: Garmin is the dominant player in cycling power meters (Vector series), GPS bike computers (Edge), and indoor trainers (Tacx), serving the same individual cyclist and indoor training customers as Stages Cycling with overlapping product categories.
• 4iiii Innovations: 4iiii manufactures crank-based power meters (Precision/Left/Pro) in a similar price and performance tier to Stages Power, often sold through overlapping dealer channels for Shimano-equipped bikes.
• Favero Electronics: Favero (Assioma) makes pedal-based power meters that compete head-to-head with Stages' crank-based units, targeting the same prosumer/amateur cyclist training market with a different form factor.
• Wahoo Fitness: Wahoo sells Powrlink power meters, ELEMNT bike computers, and KICKR smart trainers that directly compete with Stages' power meters, Dash computers, and SB20 smart bike for the same cyclist training budget.
• Keiser: Keiser is one of the principal competitors in commercial indoor cycling bikes for studios, directly competing with Stages' SC1/SC2/SC3 in the same fitness studio procurement market.
• Quarq (SRAM): Quarq is a pioneer in crank-based cycling power meters now owned by SRAM, directly competing with Stages Power meters on accuracy, drivetrain compatibility, and pro-cycling adoption.

Broad incumbents

• SRAM: SRAM is a major drivetrain manufacturer whose Quarq subsidiary competes with Stages in power meters, and whose broader component portfolio could pressure Stages if SRAM integrates power measurement more deeply into drivetrains.
• Peloton: Peloton is a broad incumbent in connected indoor cycling with its own bike and subscription content platform, competing with Stages on the consumer/smart-bike side while operating a much larger vertically integrated fitness ecosystem.

Others

• Zwift: Zwift is a software/integration partner for Stages' SB20 smart bike and SC bikes rather than a direct hardware competitor, but as the dominant virtual cycling platform it shapes the ecosystem in which Stages' indoor products compete.

Emerging players

• Polar Electro: Polar offers GPS bike computers and heart-rate/power-based training platforms that overlap with Stages' Dash computers and cycling app, though it is more sport-agnostic and less specialized in power meters.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/stagescycling
• YouTubeyoutube.com/stagescycling
• Facebookfacebook.com/stagescycling
• LinkedInlinkedin.com/company/stages-cycling
• Instagraminstagram.com/stagescycling

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Stages Cycling