Peloton
Combines connected cardio equipment, instructor-led classes, and recurring memberships.
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Profile
Sells connected Bikes, Treads, and rowing machines, Precor commercial equipment, and app access, pairing them with instructor-led content and personalization. Monthly Connected Fitness and app memberships generate most revenue, while the business remains U.S.-concentrated and dependent on hardware adoption and recurring engagement.
Pairs Connected Fitness Products—Bike, Bike+, Tread, Tread+, and Row+—with live and on-demand instructor-led classes, performance tracking, Peloton IQ personalization, and monthly memberships. Cross Training models serve consumers, while Peloton Pro and Precor cardio, strength, connected-fitness, and wellness equipment serve commercial customers.
Two reporting segments separate recurring Subscription revenue from Connected Fitness Products, which includes hardware, accessories, rentals, warranties, delivery, apparel, commercial equipment, and service contracts. The operating model integrates equipment design, networked software, studio production, human coaching, and community features.
Revenue remains concentrated in the United States, with consumer memberships also offered in the United Kingdom, Canada, Germany, Australia, and Austria. Operations rely on a limited set of suppliers, contract manufacturers, logistics partners, third-party music licenses, recurring member engagement, and compliance with product-safety, privacy, consumer-protection, and trade rules.
Company facts
Key statistics
Year to date −11.1% · Average volume (30d) 8.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| May 8, 2026 | Robert W. Baird | Target | $5.50 | $6 | ||
| Feb 6, 2026 | Robert W. Baird | Target | $4.75 | $5.50 | ||
| Feb 6, 2026 | UBS | Target | $11 | $6 | ||
| Feb 6, 2026 | Telsey Advisory | Target | $8 | $6 | ||
| Feb 5, 2026 | Truist Financial | Target | $11 | $9 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q4 FY26 | $0.12 | $0.13 | +8.3% | $596.6M | $607.7M | +1.9% | −15.49% |
| May 7, 2026Q3 FY26 | $0.07 | $0.05 | −28.6% | $618.3M | $630.9M | +2.0% | +0.53% |
| Feb 5, 2026Q2 FY26 | −$0.07 | −$0.09 | −28.6% | $675.5M | $656.5M | −2.8% | +5.47% |
| Nov 6, 2025Q1 FY26 | $0.01 | $0.03 | +200.0% | $541.1M | $550.8M | +1.8% | +14.16% |
Financial highlights
| 12 quarters | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $624.0M | $606.9M | $550.8M | $656.5M | $630.9M | $607.7M | |
| Gross profit | $318.0M | $328.1M | $283.7M | $331.4M | $327.3M | $344.3M | |
| Operating income | −$32.4M | $29.6M | $41.3M | $11.3M | $52.5M | $81.1M | |
| Net income | −$47.7M | $21.6M | $13.9M | −$38.7M | $26.4M | $61.6M | |
| Diluted EPS | −$0.12 | $0.05 | $0.03 | −$0.09 | $0.06 | $0.13 | |
| Gross margin | 51.0% | 54.1% | 51.5% | 50.5% | 51.9% | 56.7% | |
| Operating margin | -5.2% | 4.9% | 7.5% | 1.7% | 8.3% | 13.3% |
Fiscal years (4-quarter sums)FY22 $3.58B · FY23 $2.80B · FY24 $2.70B · FY25 $2.49B · FY26 $2.45B
Revenue by product · Q4 FY26
Revenue by geography · Q4 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $49.8M · Total debt $1.71B · Total assets $2.06B · Shareholders' equity −$139.7M
Dividends
No dividends on record.
Ownership
Shares outstanding 417.16M · Float 406.67M · 97.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 65.03M | 15.59% | 13F | Aug 7, 2026 |
| DNB Asset Management As | 38.12M | 9.14% | 13F | Aug 11, 2026 |
| Vanguard Portfolio Management | 24.55M | 5.88% | 13G | Jul 31, 2026 |
| Vanguard Capital Management LLC | 18.77M | 4.50% | 13F | Aug 13, 2026 |
| D. E. Shaw & Co., Inc. | 17.05M | 4.09% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 19, 2026 | Dion C. Sanders | officer: Chief Commercial Officer | −112,512 | $5.45 |
| Aug 19, 2026 | Saqib Baig | officer: Chief Accounting Officer | −4,912 | $5.45 |
| Aug 17, 2026 | Saqib Baig | officer: Chief Accounting Officer | −36,439 | $5.36 |
| Aug 17, 2026 | Karen Boone | director | −25,000 | $5.35 |
| Jul 20, 2026 | Charles Peter Kirol | officer: Chief Operating Officer | −3,198 | $6.49 |
Peers
- Apple
Digital fitness service rival through Fitness+ and Apple devices
- Garmin
Fitness wearables and Tacx training hardware overlap
- Planet Fitness
Low-cost club network competing for fitness spend
- Life Time Group
Premium clubs and digital wellness ecosystem overlap
- Xponential Fitness
Boutique studio brands contest instructor-led classes
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Peloton | $5.45 | +0.18% | $2.27B | 41.9 | 15.9 | 0.9 | +0.1% |
| Apple | $320.07 | +0.15% | $4.70T | 36.6 | 34.7 | 10.1 | +16.4% |
| Garmin | $288.10 | +1.06% | $55.00B | 29.4 | 27.8 | 7.2 | +11.4% |
| Planet Fitness | $52.25 | −2.06% | $4.24B | 18.1 | 15.5 | 3.0 | +7.1% |
| Life Time Group | $43.51 | +0.02% | $9.72B | 23.9 | 25.2 | 3.1 | +13.7% |
| Xponential Fitness | $5.43 | −0.09% | $202.6M | — | 11.1 | 0.7 | −13.4% |
| Median | 26.7 | 25.2 | 3.1 | +11.4% |