NASDAQ$PTON
Peloton Interactive · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Peloton's Q2 2022 performance was marked by revenue growth, a rise in connected fitness subscriptions, and a net loss, alongside the announcement of leadership and restructuring changes.
Peloton Interactive, Inc. reported a 6% increase in total revenue to $1,133.9 million for Q2 2022, driven by subscription revenue growth, while experiencing a net loss of $(439.4) million. The company's connected fitness subscriptions grew by 66% to 2.77 million. Peloton also announced significant restructuring initiatives, including a change in CEO and workforce reductions, aimed at streamlining operations and improving profitability.
- Connected Fitness Subscriptions increased by 66% to 2.77 million.
- Total revenue grew by 6% to $1,133.9 million.
- Average Net Monthly Connected Fitness Churn was 0.79%.
- Net loss amounted to $(439.4) million, or $(1.39) per diluted share.
Headline financials
Revenue & EPS history
Peloton · Revenue · Quarterly
$1.13B
Revenue by segment
Peloton · $1.13B total across 2 segments · Q2 2022
- Connected Fitness Products$796M-8.5%70.2%
- Subscription$338M+73.3%29.8%
Forward guidance
Peloton anticipates revenue between $950 million and $1 billion for Q3 2022, with a gross profit margin of approximately 23%. The adjusted EBITDA loss is projected to be between $(140) million and $(125) million. For the full fiscal year 2022, revenue is expected to be between $3.7 billion and $3.8 billion, with a gross profit margin of approximately 28% and an adjusted EBITDA loss between $(675) million and $(625) million.
Tailwinds
- Expects approximately 2.93 million ending Connected Fitness Subscriptions for Q3 2022.
- Subscription Contribution Margin will continue to expand year-over-year.
- Intends to manage discretionary spend tightly in the back-half of the year.
- Comfortable with balance sheet position.
- Expects to exit the year with approximately $1.2 billion in cash and $500 million of additional revolver capacity.
Headwinds
- Year-over-year reduction in Connected Fitness gross margin.
- Reduced demand plan.
- Limited benefit from pricing changes and warehouse restructuring in Q3.
- Gross Margin of approximately 23% for Q3 2022.
- Adjusted EBITDA loss estimate of $(140) million to $(125) million for Q3 2022.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2022
+0.1%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+1.8%
Avg return
30 days after
52%
14 / 27 earnings
Positive
+44.0%
Q4 2024
Best reaction
-38.1%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +8.5% | +3.5% | +10.8% | |
| Q2 2026 | -25.7% | -26.4% | -35.2% | |
| Q1 2026 | +13.8% | +11.2% | -4.3% | |
| Q3 2025 | -6.9% | -2.4% | +4.6% | |
| Q2 2025 | +12.0% | +15.3% | -18.1% | |
| Q1 2025 | +9.0% | +15.2% | +55.5% | |
| Q4 2024 | +44.0% | +43.5% | +45.8% | |
| Q3 2024 | +6.5% | +27.0% | +13.0% | |
| Q2 2024 | -23.7% | -21.2% | -17.3% | |
| Q1 2024 | +8.3% | +1.2% | +29.3% | |
| Q4 2023 | -21.1% | -16.2% | -36.2% | |
| Q3 2023 | -11.6% | -11.3% | -5.2% | |
| Q2 2023 | +31.3% | +22.1% | +7.2% | |
| Q1 2023 | +8.8% | +11.0% | +54.1% | |
| Q4 2022 | -21.3% | -28.9% | -36.9% | |
| Q3 2022 | -12.7% | +12.3% | -21.3% | |
| Q2 2022 | +30.3% | +16.6% | -24.0% | |
| Q1 2022 | -38.1% | -44.2% | -51.6% | |
| Q4 2021 | -10.2% | -13.8% | -20.3% | |
| Q3 2021 | +1.4% | +10.2% | +24.7% | |
| Q2 2021 | +0.8% | +0.4% | -28.6% | |
| Q1 2021 | +5.8% | -11.3% | -3.5% | |
| Q4 2020 | -7.8% | -6.3% | +34.9% | |
| Q3 2020 | +21.8% | +18.2% | +26.7% | |
| Q2 2020 | -13.4% | -14.6% | -25.4% | |
| Q4 2019 | -0.5% | +5.7% | +43.5% | |
| Q1 2020 | -6.5% | -4.4% | +27.2% | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — |
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