Peloton reports Q1 revenue $586M, consensus $578.84M

Reports Q1 members 6.2M vs. 6.4M last year. The company said, “Our Q1 FY25 results reflect continued progress toward Peloton’s (PTON) overarching financial goal of making our business sustainable and profitable for the long term. We had a strong Q1 FY25 and performed above our guidance on all of our key metrics. We’re especially pleased with our bottom line results and Free Cash Flow – we’re achieving our cost savings targets faster than we expected as a result of strong execution by our talented Peloton team members. We remain hard at work and on track to achieve the goals we set for FY25, which include: Aligning our cost structure to the current size of our business, by delivering over $200 million of run-rate cost savings by the end of fiscal year 2025 from our cost restructuring plan announced in May 2024. Improving our unit economics across all products, sales channels and markets, in pursuit of profitable growth and meaningful free cash flow generation. Continuing to make strategic investments in innovation to enable Peloton to return to top-line growth. This includes product development in both software and hardware features, refining our marketing strategy to efficiently attract new audiences, as well as evolving our content offering to deliver more diversified, engaging fitness experiences.”