What Happened to Stages Cycling?

- November 14, 2024

-- UPDATE August 2025 --

Stages Cycling went bankrupt in June 2024. Giant subsidiary SPIA Cycling, bought selected Stages assets in late 2024. There has been some encouraging news in 2025. It's just not all good.

The good news:

You can buy replacement parts on the Stages US web site.
Stages is providing limited support. They will ship some parts under warranty. Your can send email to support@stagescycling.com or use the US Support Site.
SPIA Cycling indicated that they will be continuing the critical online services needed to keep the Stage Cycling App active for at least one more year.

The not so good news:

No in-home service is offered. It is DIY "parts only". Stages support people can often describe how to do repair work. Note: This support is provided in the US. It is unclear if Stages will respond to requests from other countries.
Stages has stopped selling the SB20 smart bike on their web site (see image below). It shows only gym bikes and power meters. No SB20 or Dash bike computers.
There is a single reference to reference to the Stages Cycling app. There is no mention that it works only with the SB20 that is no longer for sale.

Once the US parts inventory is exhausted, the US SB20 support site will likely shutdown.

Stages Cycling App

The Stages Cycling app on iOS and Android is needed to keep the SB20 properly configured. This app is still offered in the Apple and Google app stores. The question is: How long?

When the US development team was laid off in April 2024, the ability to update the app may have been lost. There have been no updates to these apps since early 2024.

As operating systems are updated, Stages will be often be required to make changes. If they do not, the Stages Cycling app can be removed from the Apple and Google app stores without warning.

Online files and services for doing firmware updates may also be at risk. It is unclear if these resources will be maintained after SB20 parts run out and support services are terminated.

With this mind, it is a good idea to:

Ensure that you have a working copy of the Stages Cycling app.
Do not delete the Stages Cycling app from a device unless you are sure you can download it again.
Get all firmware updates while you can. This is particularly important for replacement parts (upper board and power meter cranks) received from Stages.

FWIW: I am personally keeping a copy of the Stages Cycling app on an older iPad where I will not update the OS.

Update August 2025: In an email to SB20 owners on August 28, 2025, SPIA Cycling indicated that they will be continuing to keep that Stage Cycling App active for at least one more year.

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History: Stages Bankruptcy

Stages Cycling LLC in the US filed for Chapter 11 bankruptcy in June 2024. SPIA Cycling Inc., a subsidiary of Giant Group, made an initial bid of $20 million for Stages Cycling's assets in July 2024. The acquisition was finalized in September 2024 for $20.1 million.

The assets purchased by SPIA Cycling Inc. include Stages Cycling's intellectual property, manufacturing facilities, product lines, and limited inventory. The terms of the purchase agreement included Giant Group dropping its lawsuit against Stages for $14 million in unpaid invoices and paying $500,000 to Norwegian software companies TekSport AS and VismoX AS.

Additional Details

Giant Group bought Stages US intellectual property and trademarks in September after Stages filed for bankruptcy earlier in 2024. The status of Stages' European operations remains unclear.
Many countries have local distributors who offer sales, parts and service. These organizations are not directly affected by the US bankruptcy although it appears they are not getting new parts. They are servicing customers with whatever inventory they have on hand.
Giant paid only $20.1 million for selected Stages US assets. Existing customers are liabilities. Warranty claims and related parts could easily cost Giant much more than $20 million.

Update 2025: Limited US support is now being provided, presumably to sell off the inventory of spare parts. How long support will last is unknown - particularly as replacements parts become scarce.
Stages laid off all of their Boulder CO employees in April. This makes it difficult to restart manufacturing or product development. It could mean no new parts forever. It also means that online services for firmware updates and app login could disappear.

Update 2025:
a. Online services are still running. There have been occasional outages that have been fixed.
b. Ability to do firmware updates remains at risk.
c. Unclear if the Stages cycling app can be updated to remain compliant with future OS updates.

For those who are interested, here's the now abandoned manufacturing and support building at 5335 Sterling Dr, Boulder, CO:

Stages apparently still maintains a smaller office at 3090 Sterling Circle:
Former Stages executives were hired by Giant in May 2024. They were no longer employed by Stages when Giant acquired Stages bankruptcy assets in September. As such, they have no connection to existing Stages customers

Timeline of Stages Cycling Bankruptcy Events

May 2025: Stages offers limited support on SB20 Support Site. DIY (no service people) and US only.

April 2025: Replacement parts available online. US only. Unknown supply.

January 2023: Giant Group agrees to buy 32.5% of Stages Cycling for $20 million.

Late 2023 - Early 2024: Consumers notice difficulty purchasing Stages products.

April 2024: Stages Cycling stops operations, laying off all 40 employees in Boulder Colorado.

April 2024: AIPS TECHNOLOGY CO., LTD (a Giant division) files a $14 million lawsuit against Stages for unpaid bills.

June 2024: Stages Cycling files for Chapter 11 bankruptcy protection.

July 2024: SPIA Cycling Inc. (Giant subsidiary) makes initial $20 million bid for Stages Cycling assets.

September 19, 2024: Judge approves SPIA Cycling Inc.'s purchase agreement for Stages Cycling assets.

September 2024: SPIA Cycling Inc. finalizes acquisition of Stages Cycling assets for $20.1 million.

Statements from Giant Group:

Donald Yu, President of SPIA Cycling Inc.: "We are thrilled to integrate Stages Cycling's assets into our organization. This acquisition aligns with our strategic goals and enhances our capabilities in both indoor and outdoor cycling. We are committed to leveraging these assets to drive innovation and deliver greater value to our customers and stakeholders."

Paddy Murray, VP of Global Sales and Marketing of SPIA Cycling Inc.: "We're thrilled about the opportunities this acquisition presents and the benefits it will bring to Stages Cycling's dedicated customers. Our priority is to ensure a seamless transition while revitalizing the Stages brand to address both current and future customer needs."

Giant Group statement: "The acquisition will support the Giant Group's vision to create a comprehensive indoor/outdoor cycling ecosystem, enhance its cycling data capabilities, and enter the commercial fitness market, where it has a 30-year history of manufacturing for other brands."

Distribution and Support

Most countries outside of the US have independent partners who handle SB20 distribution and servicing.

A notable example is Saddleback Ltd. They are the Stages SB20 distributor and service provider in the UK. They are an independent company with no organizational ties to Stages. They have an inventory of spare parts and are willing to help existing UK customers. To the best of my knowledge, they will not provide parts to customers in other countries.

In Canada, where I live, a company called Outdoor Gear Canada handles SB20 servicing. They appear to have a limited supply of spare parts but are unwilling service Stages customers at this time. I think the former Stages LLC owes them money.

The status of Stages subsidiaries and partners in other countries remains unclear. The Stages Cycling LLC bankruptcy affects only the former US head office in Boulder CO. Product development and US support was also done from this office. All employees, including management, were abruptly laid off in April 2024 so there is little hope that these organizations will be salvaged.

More of My Personal Comments

IP and Assets Only

Stages does not appear to be buying the power meter or indoor bike development business. This is consistent with the apparent firing of all Colorado employees in April. A number of Stages executives also left for Giant at the same time . This prevents them for re-entering Stages premises or accessing assets. It will be next to impossible to resurrect the Stages manufacturing without former core employees or their bosses.

Statements about Stages in the Future

Summer 2025: Stages began offering support for existing US SB20 customers and selling its inventory of spare parts. Here's the new statement from SPIA:

What does this mean? Giant's acquisition of Stage's assets is good for SB20 owners in the short term. But let's not get too enthusiastic. Giant's $20 million purchase of intellectual property included $7 million in spare parts across the power meter, studio bike and SB20 product lines. Rather than liquidating these parts at auction for a few cents on the dollar, Giant chose to setup a temporary support channel for the SB20. This lets them sell off spare parts at closer to retail prices.

This new support channel will have a limited life span. Here's why:

A few SB20 bikes are still under warranty. Giant can support them with the existing spare parts inventory. This creates an accounting expense that is generally beneficial to Giant. They can write-off higher expenses against the parts inventory that was not liquidated.
Existing owners can buy the remaining parts until this supply is exhausted. This creates a small revenue channel.
No service people will be available. Giant is offering parts and advice only. Owners must do DIY repairs or find someone who can work on their bikes.

All of this ends when the parts supply runs out. Giant has stated they are not manufacturing new parts. There is not much point in having a support channel when there are no parts available.

SB20 Version 2

A new SB20 may be coming. It will not be based on the current design. The original SB20 was too hard to ship and support with retail customers. If any new bikes are offered, expect a simpler design, like the Zwift Ride, that can be shipped in small packages by couriers (DHL, FedEx, UPS, etc).

Aside: Giant is maintaining the existing Stages Studio Bike (SC1, SC2 and SC3) business. Higher shipping, setup and service costs are more viable when selling to gyms. That was never the case with the SB20 in the retail sector.

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