- Peloton Interactive Inc PTON reported a first-quarter FY23 sales decline of 23% year-on-year to $616.50 million, missing the consensus of $650.08 million.
- The total number of members in the quarter grew 6% Y/Y to 6.7 million.
- Ending connected fitness subscriptions rose 19% Y/Y to 2.97 million, and Ending App subscriptions fell 1% to 0.875 million.
- Average net monthly connected fitness churn was 1.1% versus 0.8% a year ago.
- Gross profit for the quarter declined 17% to $217.2 million, and the margin expanded 260 basis points to 35.2%. The operating expenses fell 5% to $591.1 million.
- Adjusted EBITDA loss for the quarter was $(33.4) million versus $(233.7) million last year.
- The company held $938.5 million in cash and equivalents as of September 30, 2022.
- EPS loss was $(1.20), missing the consensus of $(0.65).
- Outlook: Peloton sees Q2 FY23 revenue of $700 million - $725 million, widely missing the consensus of $874.01 million.
- The company expects Q2 ending connected fitness subscriptions of 3 million.
- Also Read: Why Peloton Stock Is Plunging Today
- Price Action: PTON shares are trading lower by 1.56% at $8.49 on the last check Thursday.
- Photo Via Company
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in