- Indoor fitness company Peloton had recently filed paperwork for an IPO where it revealed it hit $915 million in revenue for the most recent fiscal year
Indoor fitness company Peloton recently filed paperwork for its initial public offering. In the filing, it was revealed that Peloton hit $915 million in revenue for the most recent fiscal year ending June 30. This is more than double the previous year.
However, Peloton’s losses for the most recent fiscal year was $195.6 million compared to $47.9 million the previous year.
Peloton is best known for selling indoor bikes and a video subscription service that can be streamed live or on-demand. Currently, Peloton has more than 511,000 connected fitness subscribers, which is double the previous year. And the company has more than 1.4 million members — which includes anyone who has a Peloton account.
Founded by CEO John Foley, COO Tom Cortese, general counsel Hisao Kushi, CTO/CIO Yony Feng, and business intelligence and data science head Graham Stanton, Peloton is aiming to raise $500 million from the IPO. This figure may be subject to change depending on investor demand. As of last year, Peloton was valued at $4 billion based on its private funding rounds.
Along with selling indoor bikes for more than $2,000 each, Peloton also sells a treadmill for more than $4,000 with an HD touchscreen built-in. The subscription fee is $39 per month for the video-based classes. And there is a “digital membership” for users who do not have a Peloton bike or treadmill at a cost of $19.49 per month. Plus Peloton also offers access to its studios, but revenue from that division has been “immaterial.”
“On the most basic level, Peloton sells happiness,” wrote Foley in a public letter. “But of course, we do so much more.”
