Peloton Q3 FY2022: net loss $757M, revenue down 24%, announces $750M debt financing

PELOTON INTERACTIVE, INC.

2022-Q3 EPS reported -$4.96 revenue$2,903,400,000

Q3 revenue $964.3M (-24% YoY); Connected Fitness gross margin -11.4% vs +28.4% last year.
Net loss $757.1M (vs $8.6M loss in Q3 FY2021); Adjusted EBITDA -$194.0M.
Ended quarter with $879M cash; signed $750M term debt commitment with JPMorgan and Goldman Sachs.
Cost reduction targets $800M annual run-rate savings by FY24; achieved $165M OpEx savings in 2H FY22.
Hardware price cuts drove 69% daily unit sales increase; All-Access subscription price increase adds ~$14M/month revenue.

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