Pelonton Interactive, Inc. (NASDAQ: PTON) released fiscal second-quarter financial results after markets closed Wednesday. The firm said that it had a net loss of $0.20 per share and $466.3 million in revenue, compared with consensus estimates that called for a net loss of $0.36 per share and $422.93 million in revenue. The same period from last year had a net loss of $4.83 per share and $262.9 million in revenue.
During the quarter, connected fitness subscribers grew 96% to 712,005, and total members grew to over 2.0 million. Connected fitness subscribers worked out over 24.3 million times in the second quarter, with an average of 12.6 monthly workouts per subscriber.
Looking ahead to the fiscal third quarter, the company expects to see a total of 843,000 to 848,000 connected fitness subscribers and revenues of $470 million to $480 million. The consensus estimates are calling for a net loss of $0.21 per share and $494.26 million in revenue for the coming quarter.
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John Paul Foley, Co-Founder, chairman, and CEO, commented in the report:
We are pleased to report strong financial results for the second quarter. Ending Connected Fitness Subscribers grew 96% year over year to 712,005, and total revenue grew 77% year over year to $466 million driven by a robust holiday sales period, increased conversion from Home Trial launched in September, and continued low churn of our Connected Fitness Subscribers.
Shares of Peloton closed Wednesday at $32.70, with a post-IPO range of $20.46 to $37.02. The consensus analyst price target is $35.84. Following the announcement, the stock was down 9% at $29.80 in the after-hours session.
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