Peloton Files Q2 FY25 10-Q

TL;DR

Peloton's Q2 FY25 10-Q is in. Check the numbers for the latest.

AI Summary

Peloton Interactive, Inc. filed its 10-Q for the period ending December 31, 2024. The filing covers the second quarter of fiscal year 2025, detailing financial performance and operational updates. Key financial figures and segment performance are presented for the periods ending December 31, 2024, and December 31, 2023.

Why It Matters

This filing provides investors with the latest financial results and operational details for Peloton, crucial for understanding the company's current performance and future outlook.

Risk Assessment

Risk Level: medium — Peloton operates in a competitive fitness market and has faced financial challenges, making its financial performance inherently subject to market dynamics and consumer spending.

Key Numbers

• 2024-12-31 — Period End Date (Financial reporting period)
• 2023-12-31 — Prior Period End Date (Comparison period)
• 2024-07-01 — Fiscal Year Start Date (Beginning of the reporting fiscal year)

Key Players & Entities

• PELOTON INTERACTIVE, INC. (company) — Filer
• 20241231 (date) — Period of Report
• 20250206 (date) — Filing Date
• 001-39058 (dollar_amount) — SEC File Number

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-20241231.htm (10-Q) — 1499KB
• q2fy2510-qexhibit311.htm (EX-31.1) — 10KB
• q2fy2510-qexhibit312.htm (EX-31.2) — 10KB
• q2fy2510-qexhibit321.htm (EX-32.1) — 4KB
• q2fy2510-qexhibit322.htm (EX-32.2) — 4KB
• 0001639825-25-000026.txt ( ) — 7621KB
• pton-20241231.xsd (EX-101.SCH) — 45KB
• pton-20241231_cal.xml (EX-101.CAL) — 76KB
• pton-20241231_def.xml (EX-101.DEF) — 253KB
• pton-20241231_lab.xml (EX-101.LAB) — 647KB
• pton-20241231_pre.xml (EX-101.PRE) — 455KB
• pton-20241231_htm.xml (XML) — 1136KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements

Financial Statements 4 Condensed Consolidated Balance Sheets as of December 31, 2024 (unaudited) and June 30, 2024 4 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Six Months Ended December 31, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended December 31, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Stockholders' Deficit for the Three and Six Months Ended December 31, 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 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.

Controls and Procedures

Controls and Procedures 43

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 45 Item 1A.

Risk Factors

Risk Factors 45 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46 Item 3. Defaults Upon Senior Securities 46 Item 4. Mine Safety Disclosures 46 Item 5. Other Information 46 Item 6. Exhibits 47

SIGNATURES

SIGNATURES 48 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) December 31, June 30, 2024 2024 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 829.0 $ 697.6 Accounts receivable, net 96.8 103.6 Inventories, net 257.8 329.7 Prepaid expenses and other current assets 123.9 135.1 Total current assets 1,307.5 1,266.0 Property and equipment, net 294.7 353.7 Intangible assets, net 10.0 15.0 Goodwill 41.2 41.2 Restricted cash 47.9 53.2 Operating lease right-of-use assets, net 387.2 435.0 Other assets 21.1 21.0 Total assets $ 2,109.8 $ 2,185.2 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable and accrued expenses $ 390.6 $ 432.3 Deferred revenue and customer deposits 159.7 163.7 Current portion of long-term debt 10.0 10.0 Operating lease liabilities, current 70.1 75.3 Other current liabilities 4.4 3.9 Total current liabilities 634.7 685.2 Convertible senior notes, net 541.0 540.0 Term loan, net 948.3 950.1 Operating lease liabilities, non-current 457.1 503.3 Other non-current liabilities 25.8 25.7 Total liabilities 2,607.0 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, 373,793,790 and 358,120,105 shares of Class A common stock issued and outstanding as of December 31, 2024 and June 30, 2024, respectively; 2,500,000,000 and 2,500,000,000 shares of Class B common stock authorized, 16,065,806 and 18,141,608 shares of Class B common stock issued and outstanding as of December 31, 2024 and June 30, 2024, respectively. — — Additional paid-in capital 5,060.3 4,948.6 Accumulated other comprehensive income 19.0 15.9 Accumulated deficit ( 5,576.5 ) ( 5,483.7 ) Total stockholders' deficit ( 497.2 ) ( 519.1 ) Total liabilities and stockholders' deficit $ 2,109.8 $ 2,185.2 See accompanying n