CEO’s Outlook for 2022: “Towards Significant Growth – the Timing Is Perfect”

Jan 27 2022 in News

Sciene-based, Empowering people, Always learning

I have now been CEO of Firstbeat for six months, and I clearly see the growth potential of our skilled team and global network. As we move into 2022, it is a good time to review the achievements of last year and, importantly, look into the future.

Firstbeat Technologies remains focused on expanding our wellness and sports businesses with innovative digital services. This year marks our 20th anniversary. The strength of our research and development has made us the world-class player we are today. Let’s have a closer look at how things are shaping up…

Tero Lehtonen

Tero Lehtonen expresses that the first six months of being CEO of Firstbeat, have demonstrated to him the growth potential which lies in co-operation of Firstbeat’s skilled team and global network.

In the Sports business, we saw a significant growth spurt in 2021. Net sales were up by almost 50%, despite exceptional global conditions. We have clearly established ourselves at the center of professional sports, a phenomenal achievement!

Data-driven decision making is gaining ground in all sports. Firstbeat is at the forefront of this development, bringing reliable physiological data and analysis to coaches, coaching managers and athletes alike.

On top of steady growth in the number of users, we saw in 2021 an increase in customer retention and user activity, which is particularly gratifying. The data verifies that we are creating meaningful value.

We have an excellent foundation to continue rapid growth. Our client base in professional sports is already impressive, and there are several other areas in the market where we can expand.

In the Wellness business, we launched Firstbeat Life for partners in September 2021. Firstbeat Life is a completely new service category that focuses on stress and recovery management for a balanced lifestyle. Over 200 partners from dozens of countries have already joined our wellness service network.

Our timing for growth in this market couldn’t be better. Stress management is on everyone’s agenda now. The rise of hybrid work and knowledge work in particular is creating a need for new solutions. At the same time, we are witnessing a larger megatrend.

Because we are living longer, prevention will take on an even role in health care. Firstbeat Life’s accurate and reliable analytics make wellness services more effective with proactive and data-driven methods.

Although the wellness business was affected by the pandemic and changes in our wellness business model, we returned to positive territory already during the autumn of last year. In 2022, we will continue to widen our market presence with our partners and corporate customers.

Our goal for 2022 is significant growth, and that goal is strongly supported by market signals. I also sense our growth trajectory here at Firstbeat. There is excitement in the air and activity all around. This year has started off at a good pace with a strong rhythm of close cooperation.

I believe in 2022 we will see many more joint success stories. Thanks to all of you for being part of that success.

You have it in you.

Tero Lehtonen, CEO of Firstbeat