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nexersysTerry Jones brings Olympic boxer Marlen Esparza into the Shark Tank in episode 502 to help demonstrate his  cardio boxing exercise equipment product called Nexersys. The technological marvel is part arcade game, part exercise equipment and it’s touted as giving you a “hard body and a sharp mind.” The Nexersys is what Jones calls “exergaming” equipment: the video “trainer” tells the user what to do for their work-out and you need to keep up with the instructions.

Jones sells Nexersys to gyms, schools, universities, the military, hotels, cruise lines, and home users. He claims there is world-wide distribution and they’re a preferred vendor for Gold’s Gym. Nexersys keeps exercise fun with 4 minute circuits that gives a complete workout. He tried getting a Kickstarter investment in the Spring of 2013 but was only able to reach $13K of his $150K goal. The Kickstarters didn’t like Nexersys, but their testimonial page is loaded with praise for Nexersys from happy customers.

The Kickstarter campaign was looking for money to develop an “arcade model” of the Nexersys; that could be what he’s looking for from the Sharks.

Nexersys Shark Tank Recap

Terry Jones enters the Tank seeking $2 million in return for 10% of the Nexersys company. It’s an impressive valuation, but will the Sharks buy in?

Jones brings Olympic athlete Marlen Esparza in to demonstrate his system, which consists of a series of pads attached to a frame in the approximate shape of a person. The user inputs their information into the computer, and the computer designs a personalized workout. The system shows a series of lights, which indicate where the user is to strike the pads. The system then gives feedback to the computer for analysis for future workouts.

Jones offers the Sharks an opportunity to try the system for themselves, mentioning that he’s added a “special” avatar. Kevin O’Leary is impressed, saying it’s a “good looking guy.” The avatar is, of course, Mr. Wonderful himself, and Mark Cuban wastes no time in volunteering to give the digital version a beat down, much to the delight of the other Sharks.

Although O’Leary is amused by the avatar, he wants to know about the valuation. Sales over 18 months have been $4.2 million. The company isn’t profitable yet, but he hopes to begin bringing in a profit in a few months’ time.

Who’s In?

Daymond John wants to know about debt. At the time of airing, shareholder debt was at $7 million, a number that creates alarm in the Sharks. Jones himself owns about 35% of the company. O’Leary questions the valuation at $20 million with the current debt load. Jones is confident that he will be able to repay the debt, but guest Shark Steve Tisch says “Great product, too much debt. I’m out.”

O’Leary predicts that the stockholders will push him into bankruptcy and take his equity. He’s out. Mark Cuban agrees with O’Leary about the debt. He’s out. Daymond John compares the situation Jones is in with a “third round with a young Mike Tyson.” He’s out. Lori Greiner believes Jones will get out of debt, but she “doesn’t like to get into that situation.” The final Shark is out, and Jones leaves the Tank with no Shark deal.

Nexersys Shark Tank Update

The Nexersys website reports that since appearing on Shark Tank, sales have increased by 450%, a possible result of the well-known “Shark Tank effect.” The increase in sales has allowed the company to become profitable months before predicted. Many of the Convertible Subordinated Notes were converted to equity, reducing the debt load, and the company continues to service the debt via cash flow. The social media presence is strong, and Jones reports expanding sales into several international markets.

Lori Greiner may have been correct in her belief that Nexersys will be able to clear the hurdle of an imbalanced balance sheet and cross the finish line to success. Only time will tell whether this up and coming company has enough steam to keep going, or if one of the big names in exercise equipment will gobble it up or squash it, as Mr. Wonderful is so fond of saying, like a cockroach.

As the years went by, the company was able to become profitable. All debt was eliminated by the end of 2019. They added several products including a boxing trainer and a budget priced ($295) cross fit trainer. They still sell “industrial” versions for gyms, too. The products appeared in the Netflix series Cobra Kai. As of January, 2023, annual revenue is $5 million.

Posts About Nexersys on Shark Tank Blog

Cardio Boxing

Nexersys Information

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  1. George D Crumbock says

    i need some help with my unit

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