Peloton Interactive, Inc. (PTON) SEC Filings & Earnings Calls

Revenue decline

“Revenue of $2,446.0 million, a 1.8% year-over-year decrease;” · word for word

Transition risk in accounting leadership; potential for temporary disruption in financial reporting and internal controls.

“Departure of CAO; search for replacement ongoing; no severance triggered.”

Consumer demand sensitivity

“For example, in more recent quarters, we have experienced reduced consumer demand, partially contributing to a decrease in Connected Fitness Products Revenue relative to prior year periods.” · word for word

Tariff exposure

“Concurrently, effective July 24, 2026, the U.S. government imposed new tariffs of 10.0% to 12.5% on goods from approximately 60 economies under Section 301 of the Trade Act of 1974, including from economies where we have significant operations or commercial presence, such as Taiwan and China.” · word for word

Product recall liability

“As previously disclosed, on November 6, 2025, in collaboration with the U.S. Consumer Product Safety Commission and Health Canada, we announced a voluntary recall of about 833,000 units in the U.S. and 44,800 units in Canada of the Original Series Bike+ (not Cross Training Bike+).” · word for word

Subscription churn risk

“The majority of our subscribers are on month-to-month subscription terms and may cancel their subscriptions at any time.” · word for word

Cybersecurity risk

“Our systems and data, as well as those of critical third parties, are vulnerable to cyber-attacks involving, for example, malware, social engineering/phishing, ransomware or other extortion-based attacks, denial-of-service attacks, physical or electronic break-ins, third-party or current/former employee theft or misuse, and similar disruptions from unauthori”

Connected fitness subscriptions continue to decline, down 8.8% YoY

“Ending Paid Connected Fitness Subscriptions were 2.553 million, a decrease of 247,000 or 8.8% year-over-year” · word for word

FY27 revenue guidance implies decline of ~3.9% at midpoint

“Full Year FY27 Revenue outlook of $2.3 billion to $2.4 billion represents a decrease of $96 million or 3.9% year-over-year at the midpoint.”

Nonrecurring legal contingency of $23.8M in Q4 related to patent litigation

“negatively impacted by a $23.8 million nonrecurring accrued legal contingency in Q4 related to patent litigation” · word for word

Tariff exposure on imported goods

“we are now currently subject to Section 122 tariffs of 10%.” · word for word

Product recall costs

“we have accrued $7.2 million to replace Original Series Bike+ seat posts” · word for word

Declining subscriber base

“Ending Paid Connected Fitness Subscriptions (in millions) 2.662 (2026) vs 2.880 (2025)” · word for word

Subscription base continues to decline, indicating potential long-term demand weakness for connected fitness hardware.

“Ending Paid Connected Fitness Subscriptions decreased 7.6% YoY to 2.662M; FY26 guidance implies further decline to ~2.56M.”

Gross margin guidance lowered by 50 bps due to promotional activity, suggesting pricing pressure or competitive dynamics.

“FY26 Total Gross Margin outlook ~52.5%, a 50 bps decrease from prior outlook.”

Leadership transition risk as CCO departs; advisory period through mid-August 2026 may cause short-term disruption.

“CCO Jen Cotter transitions to advisory role; new CCMDO starts April 1, 2026.”

CFO transition may cause temporary uncertainty

“Interim CFO appointment; former CFO leaving for external opportunity.”

Product recall liability

“we announced a voluntary recall of about 833,000 units in the U.S. and 44,800 units in Canada of the Original Series Bike+ ... we have accrued $7.5 million to replace Original Series Bike+ seat posts.” · word for word

Tariff exposure

“increase in import tariff charges” · word for word

Subscriber decline

“Ending Paid Connected Fitness Subscriptions (in millions) (1) 2.661 ... 2.875” · word for word

Subscription base continues to decline, albeit at a slower pace; revenue slightly below guidance.

“Ending Paid Connected Fitness Subscriptions down 7% YoY; Total Revenue $8M below guidance range.”

Product recall liability

“As of September 30, 2025, we have accrued $16.5 million for the cost to replace the Original Series Bike+ seat posts, of which $13.5 million was accrued for in the fiscal quarter ended September 30, 2025.” · word for word

Declining subscriber base

“Ending Paid Connected Fitness Subscriptions decreased to 2.732 million from 2.896 million year-over-year.”

Tariff exposure

“We continue to closely monitor changes in international trade policies, relations, legislation and regulations, including those related to tariffs, which could adversely impact the global economy and our business.” · word for word

Subscription base continues to decline, pressuring future revenue

“Ending Paid Connected Fitness Subscriptions down 6% YoY; expected to decline further in Q2”

Subscription decline risk

“2.80 million Ending Paid Connected Fitness Subscriptions as of June 30, 2025, representing a 5.9% year-over-year decrease” · word for word

Revenue decline risk

“Revenue of $2,490.8 million, a 7.8% year-over-year decrease” · word for word