
Without stating its expectations for the upcoming fiscal 2023, Peloton sees its subscribers staying flat in fiscal Q1 2023.
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
Without stating its expectations for the upcoming fiscal 2023, Peloton sees its subscribers staying flat in fiscal Q1 2023.
Peloton has adopted a number of strategies to beat its current bearish business outlook, a move that involves proactive cost-cutting measures and leadership change.
According to Peloton, the fiscal Q3 losses were fueled by a sharp reduction in consumer demand.