10-Q · May 8, 2025
Peloton reported revenue of $624.0 million for the quarter ended March 31, 2025, down $93.7 million (‑13.1%) versus $717.7 million in the prior-year quarter. Gross margin expanded to 51.0% (gross profit $318.1M) versus…
Earnings analysis · 10-Q
PTON earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Peloton reported stronger than expected Q3 FY2026 results with revenue of $630.9 million, beating estimates by $6 million, while EPS came in at $0.06, slightly below the forecast of $0.07. The company raised its FY26…
Read full summary
Peloton reported stronger than expected Q3 FY2026 results with revenue of $630.9 million, beating estimates by $6 million, while EPS came in at $0.06, slightly below the forecast of $0.07. The company raised its FY26 revenue guidance to $2.42-$2.44 billion, supported by a Free Cash Flow estimate of around $350 million, indicating a positive operational outlook despite ongoing challenges.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.06
- Segment
- Connected Fitness Products
- Segment
- Subscription
What stood out
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Revenue Growth
Total revenue increased 1.1% YoY from $624.0 million to $630.9 million.
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Free Cash Flow Surge
Free Cash Flow reached $150.5 million, up from $94.7 million YoY.
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Improved Subscription Metrics
Subscription revenue increased by $9.4 million YoY, totaling $428 million.
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Reduction in Operating Expenses
General and administrative expenses dropped by 27.1%, from $151.4 million to $110.4 million.
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Raising FY26 Revenue Guidance
Management increased their revenue guidance to $2.42-$2.44 billion.
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Adjusted EBITDA Growth
Adjusted EBITDA was up 41% YoY to $126.2 million, compared to $89.4 million last year.
What to watch
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Subscriber Decline
Paid Connected Fitness Subscriptions decreased from 2.880 million to 2.662 million, indicating a decline.
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High Total Debt
Total debt includes $982.5 million from the Term Loan, impacting financial flexibility.
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Product Recall Costs
As of March 31, 2026, a total of $7.2 million was accrued for the Recall of Original Series Bike+, with potential for further costs.
Management's outlook
Outlook includes increased revenue guidance for FY26 due to better operational performance.
Earlier filings 4
10-Q · February 6, 2025
Peloton reported quarterly revenue of $673.9 million, down from $743.6 million a year ago, while gross profit increased to $318.4 million (improved margin). The company incurred a net loss of $92.0 million (EPS –$0.24)…
10-Q · October 31, 2024
Peloton reported quarterly revenue of $586.0 million, down modestly from $595.5 million a year ago, with Subscription revenue up to $426.3 million (+$11.3M) while Connected Fitness Products declined to $159.6 million…
10-K · August 22, 2024
Peloton positions itself as an integrated fitness platform combining hardware, software and exclusive content, with 6.4 million Members as of June 30, 2024 and new product initiatives (Guide, Row, Peloton…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.