Peloton beats by $0.08, beats on revs; guides Q1 revs below consensus; guides FY25 revs below consensus
- Reports Q4 (Jun) loss of $0.08 per share, $0.08 better than the FactSet Consensus of ($0.16); revenues rose 0.3% year/year to $644 mln vs the $633 mln FactSet Consensus.
- Members decreased 2% yr/yr to 6.4 mln.
- Ending Paid Connected Fitness Subscriptions decreased 1% to 2.981 mln.
- In Q4 PTON achieved $70 million of Adjusted EBITDA, up $105 million Y/Y and up $64 million Q/Q. PTON also achieved $26 million of Free Cash Flow, up $100 million Y/Y and tripling in comparison to last quarter. PTON says it is making significant progress toward right sizing our cost structure and we'll continue to optimize expenses.
- Co states, "As we've shared previously, the ability to use refurbished inventory is key to achieving sustainable unit economics for our original Bike rental offering. As our refurbished inventory levels have come down, we no longer have sufficient refurbished inventory to support the original Bike rental program, so we ceased offering it as of August 1..."
- Co issues downside guidance for Q1, sees Q1 revs of $560-$580 mln vs. $588.91 mln FactSet Consensus. Sees Ending Paid Connected Fitness Subscriptions of 2.88-2.89 mln.
- Co issues downside guidance for FY25, sees FY25 revs of $2.40-$2.50 bln vs. $2.69 bln FactSet Consensus. Sees Ending Paid Connected Fitness Subscriptions of 2.68-2.75 mln.
Peloton has returned to sales growth for the first time in nine quarters.
The connected fitness company posted quarterly results that came in well ahead of expectations and delivered a mixed outlook for the year ahead.
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