1Semanaยท

$PTON (+0,64ย %) | Peloton Q1 Earnings Highlights:


๐Ÿ”น Revenue: $586M (Est. $573M) ๐ŸŸข; DOWN -2% YoY

๐Ÿ”น Adj EBITDA: $116M (Est. $57M) ๐ŸŸข; UP +1171% YoY

๐Ÿ”ธ Appoints Peter Stern as CEO


Q2 Guidance:

๐Ÿ”น Revenue: $640M-$660M (Est. $663M) ๐Ÿ˜•

๐Ÿ”น Adjusted EBITDA: $20M-$30M (Est. $18M) ๐ŸŸข

๐Ÿ”น Gross Margin: 46.5%, reflecting mix shift towards Connected Fitness Products during holiday season


FY25 Outlook:

๐Ÿ”น Revenue: $2.4B-$2.5B (Est. $2.46B) ๐Ÿ˜•; DOWN -9% YoY

๐Ÿ”น Adjusted EBITDA: $240M-$290M

๐Ÿ”น Free Cash Flow: $125M+


Subscription and Segment Performance:

๐Ÿ”น Connected Fitness Products: $159.6M; DOWN -12% YoY

๐Ÿ”น Subscription Revenue: $426.3M; UP +3% YoY

๐Ÿ”น Total Gross Margin: 51.8%, up 390 bps YoY


Operational Metrics:

๐Ÿ”น GAAP Net Loss: -$1M; improvement of $158M YoY

๐Ÿ”น Free Cash Flow: $11M; UP +113% YoY

๐Ÿ”น Total Members: 6.2M; DOWN -3% YoY

๐Ÿ”น Paid Connected Fitness Subscriptions: 2.9M; DOWN -2% YoY

๐Ÿ”น Paid App Subscriptions: 582K; DOWN -24% YoY

๐Ÿ”น Average Net Monthly Paid Connected Fitness Subscription Churn: 1.9%, UP +40 bps YoY


CEO and Board Updates:

๐Ÿ”ธ Peter Stern appointed as CEO and President, effective January 1, 2025, bringing expertise from Apple and Ford, along with a strategic focus on innovation and growth.

๐Ÿ”ธ Interim CEOs Karen Boone and Chris Bruzzo to return to Board roles following Sternโ€™s transition.


Strategic Focus:

๐Ÿ”ธ Cost Structure Optimization: $200M run-rate cost savings expected by end of FY25.

๐Ÿ”ธ Enhancing Product Profitability: Improved Connected Fitness Gross Margin to 9.2%, UP +600 bps YoY.

๐Ÿ”ธ Marketing Efficiency: Sales and Marketing expenses reduced by 44% YoY; strategic spend increase planned for holiday season.

๐Ÿ”ธ Product and Market Expansion: Expanded retail channels with Costco and introduced new subscription and content initiatives aimed at diversifying and enhancing Member engagement.

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