Is Peloton Back on Track After Q3?

Peloton Interactive Inc. (NASDAQ: PTON) reported its most recent quarterly results after the markets closed on Thursday. The firm said that it had a net loss of $0.03 per share and $1.26 billion in revenue, which compares with consensus estimates of $0.02 in earnings per share (EPS) and revenue of $1.17 billion. The fiscal third quarter of last year reportedly had EPS of $0.27 and $607.1 in revenue.

During the most recent quarter, total revenue increased 141% year over year. Connected Fitness Product revenue was $1.02 billion, representing 140% year-over-year growth and 81% of total revenue. Subscription revenue was $239.4 million, a 144% year-over-year increase, and 19% of total revenue.

Peloton ended the quarter with 2.08 million Connected Fitness subscriptions, an increase of 135% year over year. At the same time, the company boasted 891,000 Digital subscribers, up 404% from last year.

Connected Fitness Subscription Workouts grew 239% in the first quarter to over 149.5 million, averaging 26.0 Monthly Workouts per Connected Fitness Subscription, versus 17.7 in the same period last year.

On the books, Peloton’s , cash equivalents and marketable securities totaled $2.69 billion at the end of the quarter. The firm also has additional liquidity of $285 million in the form of an undrawn revolving credit facility.

The company offered no guidance in the report, consensus estimates are calling for $0.13 per share and $1.13 million in revenue for the fiscal fourth quarter.

Peloton stock traded up more than 5% to $88.50 on Friday, but shares were still down 10% or so from a week ago. The 52-week range is $38.80 to $171.09, and the consensus price target is $158.67.

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