🔹 Revenue: $551M (Est. $542.8M) 🟢
🔹 Adj. EBITDA: $118M (Est. $95.2M) 🟢
🔹 Connected Fitness Subs (end): 2.73M (Est. 2.73M) 🟡
FY26 Guidance
🔹 Adj. EBITDA: $425–475M (from $400–450M) 🟢
🔹 Rev: $2.4–2.5B (unchanged; ~–2% YoY at midpoint) 🟡
🔹 Gross Margin: ~52% (↑ 110 bps YoY) 🟢
🔹 FCF: ≥ $250M (↑ $50M vs prior) 🟢
Q2’26 Other Metrics:
🔹 Rev: $665–685M (Street ~$661M) 🟢
🔹 Adj. EBITDA: $55–75M (↑ ~11% YoY at midpoint)
Ops & Product notes
🔹 Gross Margin: 51.5% (–30 bps YoY; seat-post accrual hit)
🔹 Net Income: $14M (vs. $(1)M LY)
🔹 Free Cash Flow: $67M (↑ $57M YoY)
🔹 New Cross Training Series (Bike/Tread/Row refresh) + Pro Series (commercial).
🔹 Peloton IQ launched (AI-powered coaching).
🔹 Retail footprint expanded (microstores + partners).
🔹 Average workout time per sub +5% YoY.