-=Peloton (PTON) reported earnings on Thur 10 Sept 20 (a/h)

Peloton beats by $0.15, beats on revs; guides Q1 revs above consensus; guides FY21 revs above consensus

Reports Q4 (Jun) earnings of $0.27 per share, $0.15 better than the S&P Capital IQ Consensus of $0.12; revenues rose 171.9% year/year to $607.1 mln vs the $579.67 mln S&P Capital IQ Consensus.

• Connected Fitness Subscription Workouts grew 333% in Q4 to over 76.8 million, averaging 24.7 Monthly Workouts per Connected Fitness Subscription, versus 12.0 in the same period last year.

Co issues upside guidance for Q1, sees Q1 revs of $720-730 mln vs. $514.89 mln S&P Capital IQ Consensus.

• $80 million to $90 million adj. EBITDA, 11.7% adj. EBITDA margin at the midpoint.
• 1.32 million to 1.33 million ending Connected Fitness Subscriptions, growth of 135% at the midpoint.
• Average Net Monthly Connected Fitness Churn under 0.75%.

Co issues upside guidance for FY21, sees FY21 revs of $3.5-3.65 bln vs. $2.73 bln S&P Capital IQ Consensus.

• 2.05 million to 2.10 million ending Connected Fitness Subscriptions, growth of 90% at the midpoint.
• Average Net Monthly Connected Fitness Churn under 1.00%.
• $3.50 billion to $3.65 billion total revenue, 96% growth at midpoint.
• Gross profit margin of approximately 41%.
• $200 million to $275 million adj. EBITDA, 6.6% adj. EBITDA margin at the midpoint.