Peloton Sues Rivals Over Alleged Patent Infringement

Peloton has filed lawsuits against rivals Echelon and iFit over alleged patent infringement related to the company’s on-demand fitness classes.

Known for its at-home bikes and treadmills, Peloton is seeking compensation and a court order that would prevent Echelon and iFit from selling their alleged patent-violating products until the patents expire. One of those patents was obtained last week by Peloton. 

Peloton and the two companies already have a checkered history. 

• In 2019, Peloton filed a suit against Echelon for “imitating the Peloton bike” experience and broadcasting live and recorded cycling classes.
• Peloton sued iFit — previously known as Icon Health and Fitness — in May 2020, claiming the company copied two patents for connected fitness programs. 
• Five months later, iFit sued Peloton for allegedly stealing patents for the company’s latest stationary bike model, which included a swivel screen. 

Earlier this week, Peloton announced plans to sell $1.1 billion of its Class A common stock to generate more cash, as demand for its products dwindles. 

The company generated $805.52 million in revenue in fiscal Q1 2022, missing Wall Street estimates of $810.7 million in revenue for the quarter.