Peloton Files Q1 2025 10-Q

TL;DR

Peloton's Q1 2025 10-Q is in. Check the numbers.

AI Summary

Peloton Interactive, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for its first fiscal quarter of 2025. Key financial data and operational details for this period are detailed within the filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational updates for Peloton Interactive, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — The filing contains standard financial reporting for a public company, but the nature of the business and its market position can introduce inherent risks.

Key Numbers

• 2025 Q1 — Fiscal Quarter (Reporting Period)
• 2024-09-30 — As of Date (End of Reporting Period)
• 2024-06-30 — Previous Period End (Comparison Point)

Key Players & Entities

• PELOTON INTERACTIVE, INC. (company) — Filer
• 20240930 (date) — Period of Report
• 20241031 (date) — Filing Date
• NEW YORK (location) — Business Address City

FAQ

Key Financial Figures

• $0.000025 — which registered Class A common stock, $0.000025 par value per share PTON The Nasdaq Sto

Filing Documents

• pton-20240930.htm (10-Q) — 1145KB
• q1fy2510-qexhibit311.htm (EX-31.1) — 10KB
• q1fy2510-qexhibit312.htm (EX-31.2) — 10KB
• q1fy2510-qexhibit313.htm (EX-31.3) — 10KB
• q1fy2510-qexhibit321.htm (EX-32.1) — 4KB
• q1fy2510-qexhibit322.htm (EX-32.2) — 4KB
• q1fy2510-qexhibit323.htm (EX-32.3) — 4KB
• 0001639825-24-000163.txt ( ) — 6736KB
• pton-20240930.xsd (EX-101.SCH) — 43KB
• pton-20240930_cal.xml (EX-101.CAL) — 73KB
• pton-20240930_def.xml (EX-101.DEF) — 260KB
• pton-20240930_lab.xml (EX-101.LAB) — 644KB
• pton-20240930_pre.xml (EX-101.PRE) — 460KB
• pton-20240930_htm.xml (XML) — 839KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements

Financial Statements 4 Condensed Consolidated Balance Sheets as of September 30, 2024 (unaudited) and June 30, 2024 4 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended September 30, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended September 30, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Stockholders' Deficit for the Three Months Ended September 30, 2024 and 2023 (unaudited) 7 Notes to Condensed Consolidated Financial Statements (unaudited) 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 40 Item 4.

Controls and Procedures

Controls and Procedures 41

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 42 Item 1A.

Risk Factors

Risk Factors 42 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43 Item 3. Defaults Upon Senior Securities 43 Item 4. Mine Safety Disclosures 43 Item 5. Other Information 43 Item 6. Exhibits 44

SIGNATURES

SIGNATURES 45 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements contained in this Quarterly Report on Form 10-Q other than statements of historical fact, including, without limitation, statements regarding our execution of and timing of and the expected benefits from our restructuring initiatives and cost-saving measures, the cost savings and other efficiencies of expanding relationships with our third-party partners, details regarding and the timing of the launch of new products and services, our new initiatives with retailer partners and our efforts to optimize our retail showroom footprint, the prices of our products and services in the future, our future operating results and financial position, our business strategy and plans, market growth, and our objectives for future operations, are forward-looking statements. The words "believe," "may," "will," "estimate," "potential," "continue," "anticipate," "intend," "expect," "could," "would," "project," "plan," "target," and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. We have based these forward-looking statements on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions and

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements PELOTON INTERACTIVE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in millions, except share and per share amounts) September 30, June 30, 2024 2024 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 722.3 $ 697.6 Accounts receivable, net 101.8 103.6 Inventories, net 333.3 329.7 Prepaid expenses and other current assets 127.6 135.1 Total current assets 1,285.1 1,266.0 Property and equipment, net 330.5 353.7 Intangible assets, net 12.4 15.0 Goodwill 41.2 41.2 Restricted cash 49.7 53.2 Operating lease right-of-use assets, net 416.9 435.0 Other assets 21.3 21.0 Total assets $ 2,157.1 $ 2,185.2 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable and accrued expenses $ 399.8 $ 432.3 Deferred revenue and customer deposits 154.5 163.7 Current portion of long-term debt 10.0 10.0 Operating lease liabilities, current 73.0 75.3 Other current liabilities 2.9 3.9 Total current liabilities 640.2 685.2 Convertible senior notes, net 540.5 540.0 Term loan, net 949.1 950.1 Operating lease liabilities, non-current 482.0 503.3 Other non-current liabilities 25.6 25.7 Total liabilities 2,637.4 2,704.3 Commitments and contingencies (Note 8) Stockholders' deficit Common stock, $ 0.000025 par value; 2,500,000,000 and 2,500,000,000 shares of Class A common stock authorized, 363,136,266 and 358,120,105 shares of Class A common stock issued and outstanding as of September 30, 2024 and June 30, 2024, respectively; 2,500,000,000 and 2,500,000,000 shares of Class B common stock authorized, 18,141,608 and 18,141,608 shares of Class B common stock issued and outstanding as of September 30, 2024 and June 30, 2024, respectively. — — Additional paid-in capital 4,998.2 4,948.6 Accumulated other comprehensive income 6.0 15.9 Accumulated deficit ( 5,484.6 ) ( 5,483.7 ) Total stockholders' deficit ( 480.3 ) ( 519.1 ) Total liabilities and stockholders' deficit $ 2,157.1 $ 2,185.2 See accompanyin