Peloton Posts $241.8M Q4 Loss, but Subscriber Numbers Show Growth

Peloton reported its fourth-quarter 2023 results on August 23rd, posting a wider-than-expected loss but beating revenue expectations. The connected fitness company's net loss was $241.8 million, or 68 cents per share, compared to $1.26 billion a year ago. Revenue was $642.1 million, down from $678.7 million a year ago. Peloton ended the quarter with 3.08 million connected fitness subscribers, up 4% year-over-year but down 29,000 from the previous quarter. Factors affecting Peloton's results included the traditional seasonal slowdown in summer, the recall of some of its Bike products, and consumers shifting spend towards travel as pandemic restrictions eased.