Peloton Off Track for Second Consecutive Quarter

    • Peloton continues to slow its pace.
    • The fitness leader missed Wall Street estimates for revenue in fiscal Q1.

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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.