
According to Peloton, the fiscal Q3 losses were fueled by a sharp reduction in consumer demand.
Peloton uses technology and design to connect the world through fitness, empowering people to be the best version of themselves.
Peloton is an American exercise equipment and media company that was founded in 2012 and launched with help from a Kickstarter funding campaign in 2013. The company is based in New York, New York. Its main product is a stationary bicycle that allows users to remotely participate in spinning classes that are streamed from the company’s fitness studio and are paid for through a monthly subscription service.
Fitness classes and subscriptions
According to Peloton, the fiscal Q3 losses were fueled by a sharp reduction in consumer demand.
Even with a new CEO, Peloton now anticipates seeing 3 million connected fitness subscribers, down from an earlier projection of the range from 3.35 million to 3.45 million.
After enjoying increases during the lockdown, Peloton is now plummeting. Unlike the lockdown period, there is now a sharp decline in the demand for the company’s products.