Peloton’s revenue exceeds Wall Street estimates for the fifth consecutive quarter

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Peloton’s revenue exceeds Wall Street estimates for the fifth consecutive quarter

10.11.2020 News

Shares of Peloton, which rose nearly 346% since the beginning of the year, rose 2% during trading on Friday after the company published the results of the first quarter of fiscal 2021, which ended September 30.

Peloton, which went public a little over a year ago, reported earnings per share for the second quarter in a row: $ 0.20, which is $ 0.09 more than analysts’ estimates of $ 0.11, and much better than losses per share – $ 1, 29 in the first quarter of 2020.

Total quarterly profit rose to $ 69.3 million from a loss of $ 49.8 million a year earlier.

Total 1st quarter revenue rose by 232% to $ 757.9 million, which also exceeded Wall Street’s expectations of $ 748.04 million.

It is known that the fitness company Peloton receives most of its revenue from the sale of bicycles and treadmills with displays, and to a lesser extent from subscriptions to its digital online platform for various types of fitness. However, the company does not provide separate figures for these revenue segments.

Available Peloton bikes and treadmills range in price from $ 1895 to $ 4295, and new features introduced in September: the treadmill and Tread bike will cost less than $ 3000 and $ 2495 and will be launched in early 2021.

Subscriptions for exercise machine owners cost $ 39 per month and involve family use by multiple clients. For those who don’t own the equipment, a monthly digital subscription for $ 13.99 is available through the app on iOS and Android devices.

Peloton said that the number of fitness subscribers to its digital platform exceeded 1.33 million, which is 137% more than a year earlier. The company’s management noted that during the quarter, the Peloton team continued to increase the amount of content on the platform, creating more than 2,400 new fitness lessons.

Another good indicator is that Peloton has continued to show a high level of involvement of its users and a record low percentage of those who refuse its fitness services.

In a pandemic and gym closure, the average number of workouts among Peloton audiences rose to 20.7 workouts per month from 11.7 a year earlier.

The average monthly outflow of users in the first quarter was 0.65% compared to 0.75% in the previous quarter.

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