In fact, that’s exactly what’s in some of the more recent lawsuit filings from them. They’ve got declrations from half a dozen bike shops showing the financial impact of the Zwift Hub to KICKR sales, along with starting to paint the picture of what happens to their financials in 2023 if the Zwift Hub is permitted to keep being sold. Unfortunately, the next line of that paragraph is then redacted.
Also redacted to public view are further Wahoo financial bits in that same filing that covers the concern that they have. However, the filings do include two different creditor reports, and one of them notes that Ch. 11 is a very significant possibility.
All that said - as I’ve noted recently, some of this is Wahoo’s own doing. They’ve got numerous products that they’ve let just languish:
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KICKR Desk: This came out in 2015, and has received zero updates. Other companies have added power, they’ve added wheel locks, they’ve added water bottle holders, they’ve made it lighter, they’ve made it cheaper. They’ve done everything. Unquestionably, Wahoo’s product is just about the worst of the bunch now, yet, it’s by far the most expensive. The others are 1/3rd to 1/2 the price, and far better functionality speaking. This is gravy money for Wahoo. People will still pay the silly $250 for a Wahoo branded desk, if it was at least competitive. But it’s not. So instead, people pay $60-$120 for a 3rd party desk that’s better. This isn’t rocket science, upgrading these products isn’t hard. There’s no firmware, no software upgrade cycle. It’s dead easy compared to everything else they do.
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The Fan: Again, a product that people love and love to pay $250-$300 for. But in that time we’ve seen Elite launch their fan which features adjustability, and we’ve seen other non-sport companies get in and launch cardio versions of their fans too, at the same 1/3rd or less price points and all with adjustablity. Why hasn’t Wahoo dove in and either added more features to their fan (adjustability), or, made a KICKR Fan Jr. Edition that cost $125.
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Wahoo KICKR CORE V2: This is now 4 years old, and while still a great trainer, the writing was on the wall when JetBlack started selling the VOLT to OEM’s that were pricing it at sub-$500, even before Zwift came along. That was a few years ago. The writing was also on the wall when Elite did the same with the Zumo at $599 at launch in 2019. This (CORE) is the trainer that’s at the epicenter of Wahoo’s suit, and yet, even before the Zwift Hub it was starting to be overtaken by offerings from Saris/Elite (Tacx didn’t really do anything here that meaningfully competes). Wahoo should have either lowered the price to drive sales, or, found some way to increase the reason to buy it.
And all of this ignores the mostly half-hearted attempts lately in the bike computer realm, with Hammerhead now easily beating them in feature additions and existing functionality.
Look, I like Wahoo as a company, and I like what they’ve done over the last decade. There’s a lot of good people there too, from top to bottom. But ultimately, as a business, they have to innovate and they have to be competitive as pricing changes. By and large, the last few years, they’ve done neither - and as a result, competitive has come in and eroded their base.
(Funny side note: Wahoo today filed to have all filings kept under seal in the trial, including going back and removing existing ones. The judge approved.)