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Yahoo
3 days ago
- Business
- Yahoo
Peloton looks to place equipment in gyms, launch marketplace, TechCrunch says
Peloton (PTON) CEO Peter Stern said the company is exploring ways to expand its customer base by making its products available for use in gyms and launching a peer-to-peer marketplace for equipment, Ivan Mehta of TechCrunch reports, citing comments made by Stern at the Bloomberg Tech Summit. Peloton plans to distribute its machines to commercial gyms via is subsidiary Precor and will add Peloton workouts to compatible Precor equipment. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on PTON: Disclaimer & DisclosureReport an Issue Peloton's Strategic Initiatives and Margin Improvements Justify Buy Rating Peloton Interactive call volume above normal and directionally bullish Peloton's 'Repowered' Marketplace: A Strategic Move to Boost Revenue and Brand Loyalty Repowered: Peloton Stock (NASDAQ:PTON) Ticks Up with New Used Market Peloton price target lowered to $8.50 from $10 at Citi Sign in to access your portfolio
TechCrunch
3 days ago
- Business
- TechCrunch
Peloton explores placing its equipment in gyms, launching marketplace for used gear
Fitness equipment maker Peloton's CEO Peter Stern has said the company is exploring ways to expand its customer base by making its products available for use in gyms and launching a peer-to-peer marketplace for used equipment. Speaking at Bloomberg Tech Summit on Thursday, Stern said Peloton plans to distribute its machines to commercial gyms via its subsidiary Precor, a gym equipment supplier, and is working to add Peloton workouts to compatible Precor equipment. The company this week also set out to grab a share of the market for used Peloton equipment, launching a peer-to-peer marketplace called Repowered. 'Historically, [secondhand sales have] taken place, for example, on Facebook marketplace, and that's absolutely fine for people who want to do that, but it means that you need to transact with a stranger on both ends, and potentially have that stranger come into your home. What we're trying to do is streamline that and deliver a more premium experience for those secondhand customers,' he said. Stern said the company aims to use AI to improve personalization for its members. 'I want to find ways to scale coaching by creating individualized programs for each of our members so that they can get the right class from the right instructor that's personalized for them,' he said.
TechCrunch
4 days ago
- Business
- TechCrunch
Peloton explores placing its equipment in gyms, launches marketplace for used gear
Fitness equipment maker Peloton's CEO Peter Stern has said the company is exploring ways to expand its customer base by making its products available for use in gyms, and launching a peer-to-peer marketplace for used equipment. Speaking at Bloomberg Tech Summit on Thursday, Stern said Peloton plans to distribute its machines to commercial gyms via its subsidiary Precor, a gym equipment supplier, and is working to add Peloton workouts to compatible Precor equipment. The company this week also set out to grab a share of the market for used Peloton equipment, launching a peer-to-peer marketplace called Repowered. 'Historically, [second-hand sales have] taken place, for example, on Facebook marketplace, and that's absolutely fine for people who want to do that, but it means that you need to transact with a stranger on both ends, and potentially have that stranger come into your home. What we're trying to do is streamline that and deliver a more premium experience for those second-hand customers,' he said. Stern said the company aims to use AI to improve personalization for its members. 'I want to find ways to scale coaching by creating individualized programs for each of our members so that they can get the right class from the right instructor that's personalized for them,' he said.
Yahoo
14-05-2025
- Business
- Yahoo
Peloton revenue slides 13% in Q3
This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. Peloton on Thursday reported third-quarter revenue fell 13% year over year to $624 million, which the company said was above the midpoint of its guidance range for the quarter. Connected fitness products revenue fell 27% year over year, while subscription revenue fell 4%. The company narrowed its losses during the period, reporting an operating loss of $32.4 million and a net loss of $47.7 million. Peloton's ending paid connected fitness subscriptions fell 6% from the year-ago period to 2.88 million and ending paid app subscriptions fell 15% to around 570,000. Advertising and marketing spend also decreased during the period, down 46% year over year. Although revenue continued to fall at the fitness company, CEO Peter Stern maintained that Peloton 'performed at the high end of or above guidance on our key metrics.' Stern highlighted Peloton's focus areas ahead, which include improving equipment, software and instruction; expanding distribution of products; deepening connection with members; and enhancing its operations to be more competitive. The company, which got its start as a stationary bike company, is looking to grow other areas of its cardio suite, including its treadmills. During the quarter, Peloton saw 5% year-over-year growth in running workouts and 11% growth in walking workouts. And while cardio will continue to be a focus area for the company, Peloton is looking to create a holistic experience for consumers, offering things like strength workouts and meditations. Peloton is executing on its cost restructuring plan at a time of significant leadership changes at the company. Stern arrived at the company at the start of the year. The company's chief marketer exited the company at the end of last month amid a restructuring, which includes splitting marketing responsibilities between two roles — a chief marketing officer and chief communications officer. Executives on Thursday said the company is actively searching for a CIO, chief marketing officer and chief communications officer. Looking ahead, Peloton updated its full-year guidance, now expecting ending paid app subscriptions to be down 12% at the midpoint, compared to prior projections for down 7%. The company did raise its outlook for adjusted EBITDA, now projecting a range of $330 million to $350 million, up from previous estimates of $300 million to $350 million. The company expects its full-year free cash flow to be around $250 million, which it says accounts for its expectation for a $5 million hit to the metric in the fourth quarter from the impact of tariffs. Both Peloton- and Precor-branded equipment are subject to a 25% tariff on their aluminum content, and Precor and apparel products sourced from China are subject to additional tariffs, the company said Thursday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
