Peloton is ready to evolve after a year of setbacks.
Following the recall of its Tread and Tread+ treadmills over safety concerns, the company announced it will launch a revamped treadmill next week.
- At $2,495, the new Tread model is far less expensive than the original $4,300 version.
- Users will still need to sign up for a monthly $39.99 Peloton membership to access all of the company’s offerings.
- The redesign includes a passcode lock, safety key, and relocation of the controls.
It’s not clear when the Tread+ will be available for sale again.
The treadmill news comes amid signs that Peloton is moving into connected rowing. Last month, the company listed an engineering job that mentioned work on a Peloton rower.
Peloton reports fourth-quarter and full-year fiscal 2021 earnings Thursday. Its shares are down 29% year-to-date.