Peloton Q3 revenue $717.7M, net loss $167.3M; restructuring to cut $200M in annual expenses

PELOTON INTERACTIVE, INC.

2024-Q3 EPS reported -$1.44 revenue$2,056,900,000

Total revenue $717.7M (-4% YoY); connected fitness products revenue $279.9M (-14% YoY); subscription revenue $437.8M (+3% YoY).
Net loss $167.3M, improved from $275.9M loss in Q3 FY23; Adjusted EBITDA $5.8M vs. -$18.7M YoY.
Free cash flow positive $8.6M, first time in over three years; subscription gross margin 68.1% (+30 bps YoY).
Restructuring plan targets >$200M annual run-rate cost reduction by end of FY2025, with ~15% headcount reduction (~400 team members).
Plans to reduce retail showroom footprint and reimagine international go-to-market; also working with JP Morgan/Goldman on refinancing.

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