The public markets are not responding well to Peloton right now.
The connected fitness leader generated $805.52 million in revenue in fiscal Q1 2022, missing Wall Street estimates of $810.7 million.
Shares of the company — which had already fallen 43% this year — dropped another 30% to $60.12 in after hours trading.
Peloton also reported a net loss of $376 million, compared to a net loss of $49.8 million in fiscal Q1 2021. The company cited supply chain constraints and the reopening of gyms as reasons for the lukewarm results.
Peloton has seen its revenue take a dip for two consecutive quarters.
The New York-based company generated $936.9 million in revenue in fiscal Q4 2021, down from $1.26 billion for the period before.
Despite the unfavorable results to start FY2022, Peloton is still attracting consumers.
- Connected fitness subscriptions reached 2.49 million in fiscal Q1, up 87% year-over-year.
- Paid digital subscriptions grew by 74% year-over-year, reaching 887,000.
- Members totaled more than 6.2 million for the quarter, up from 5.9 million in fiscal Q4 2021.
Peloton expects full-year revenue to range between $4.4 billion and $4.8 billion, down from a previous target of $5.4 billion.
