Peloton Q2 net loss $439M; CEO replaced, 2,800 jobs cut, guidance slashed

PELOTON INTERACTIVE, INC.

2022-Q2 EPS reported -$2.64 revenue$1,939,100,000

Q2 revenue $1.13B (+6% YoY), net loss $439.4M ($1.39 diluted EPS); Adjusted EBITDA loss $266.5M.
CEO John Foley becomes Executive Chair; Barry McCarthy (ex-Netflix, Spotify) named CEO.
Restructuring: cut ~2,800 jobs (~20% of corporate); target $800M annual run-rate cost savings.
Wind down Peloton Output Park plant; reduce 2022 capex by ~$150M.
Q3 guidance: rev $950M-$1B, Adj EBITDA loss $(140)M-$(125)M; FY rev $3.7B-$3.8B.

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