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Peloton Interactive, Inc. (NASDAQ: PTON) is a fitness technology company that combines cutting-edge hardware, immersive content, and advanced technology to deliver personalized fitness experiences. The company offers a range of fitness equipment and subscription-based services that allow users to access live and on-demand workout classes. Peloton caters to fitness enthusiasts at all levels, providing solutions for home, outdoor, and gym-based workouts.
- Subscription Services - Provides access to a wide variety of live and on-demand fitness classes, including cycling, running, strength training, yoga, and more, through the Peloton App. Subscriptions are available with or without Peloton hardware.
- Connected Fitness Products - Designs and sells fitness equipment, including the Peloton Bike, Bike+, Tread, and other accessories. These products integrate with Peloton's ecosystem to deliver an engaging workout experience.
- Content Creation - Produces high-quality fitness content led by expert instructors, fostering a sense of community and engagement among members.
- Technology Integration - Leverages advanced technology to offer features like real-time performance tracking, leaderboards, and personalized recommendations.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Chris Bruzzo ExecutiveBoard | Interim Co-CEO, Co-President | Board Member at Boot Barn Holdings, Inc. and MoneyGram International | Chris Bruzzo joined Peloton's Board in December 2023 and became Interim Co-CEO and Co-President in May 2024. He has a strong background in marketing and digital strategy, with prior roles at Electronic Arts and Starbucks. | |
Karen Boone ExecutiveBoard | Interim Co-CEO, Co-President, Chairperson of the Board | Board Member at Sonos, Inc. and Rivian Automotive, Inc. | Karen Boone joined Peloton's Board in January 2019, became Chairperson in September 2022, and was appointed Interim Co-CEO and Co-President in May 2024. She has extensive experience in finance and strategic planning. | |
Peter Stern ExecutiveBoard | CEO and President | None | Peter Stern became Peloton's CEO and President on January 1, 2025. He previously held leadership roles at Apple, Ford, and Time Warner Cable, specializing in subscription services and digital platforms. | |
Andy Rendich Executive | Chief Supply Chain Officer | Advisor to TCV Velocity Fund | Andy Rendich joined Peloton as Chief Supply Chain Officer in March 2022. He previously held roles at Netflix, Grove Collaborative, and Walmart. | |
Elizabeth Coddington Executive | Chief Financial Officer (CFO) | None | Elizabeth Coddington has been Peloton's CFO since June 2022. She previously held senior finance roles at Amazon Web Services, Netflix, and Walmart. | |
Jen Cotter Executive | Chief Content Officer | None | Jen Cotter has been Peloton's Chief Content Officer since May 2019. She has expanded Peloton's content offerings and previously held leadership roles at HSN and ProCaps Laboratories. | |
Nick Caldwell Executive | Chief Product Officer | Board Member at HubSpot Inc., Bitly, Inc., and True Search | Nick Caldwell became Peloton's Chief Product Officer in November 2023. He has held leadership roles at Twitter, Google, Reddit, and Microsoft. | |
Angel L. Mendez Board | Director | Executive Chairman at LevaData Inc.; Board Member at Kinaxis, Inc. and Sleep Number Corporation | Angel L. Mendez has been a Peloton Director since February 2022. He is a thought leader in supply chain management with over three decades of experience. | |
Jay Hoag Board | Chairperson of the Board | Board Member at Netflix, Inc., TripAdvisor, Inc., and Zillow Group, Inc. | Jay Hoag has been a Peloton Director since August 2018 and became Chairperson in May 2024. He is a co-founder of Technology Crossover Ventures (TCV) and has extensive experience in technology investments. | |
Jonathan Callaghan Board | Director | Founder and Managing Member of True Ventures | Jonathan Callaghan has been a Peloton Director since April 2015. He is a venture capitalist with expertise in building technology companies. | |
Pamela Thomas-Graham Board | Director | Founder/CEO of Dandelion Chandelier LLC; Board Member at Bumble Inc. and Compass, Inc. | Pamela Thomas-Graham has been a Peloton Director since March 2018. She has extensive experience in corporate governance and branding, with prior roles at CNBC and Credit Suisse. |
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Given that your Connected Fitness hardware sales are continuing to decline year-over-year, and the connected fitness market overall is shrinking, how do you plan to drive sustainable top-line growth, especially with gyms still taking share and macroeconomic uncertainties?
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With the significant reduction in marketing spend during Q1, which was the lowest in over four years, have you observed any negative impact on new customer acquisition, and how will you balance disciplined marketing spend with the need to generate demand during the upcoming holiday season?
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As you transition to a third-party retail and distribution model in Germany, resulting in the closure of first-party stores, how will this impact your ability to control the customer experience and brand perception, and can this model be effectively replicated in other markets to drive growth?
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Given that men currently represent only one-third of your member base, and you are targeting men through recent marketing efforts, what specific strategies are you implementing to attract this demographic, and how do you measure success in shifting the customer mix without alienating your core female audience?
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With the appointment of Peter Stern as the new CEO, who has a background in subscription services, how will his leadership influence Peloton's balance between hardware and software offerings, and what changes can we expect in strategic priorities to return to growth while maintaining profitability?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Assembled Workforce | 2021 | Completed asset acquisition as part of a trio of transactions in fiscal year ended June 30, 2021, to enhance Peloton’s connected fitness products and services by developing its data platform and content supply chain. The acquisition had an allocated consideration of $3.9 million with a 4‑year useful life and was accounted for under ASC 805. |
Recent press releases and 8-K filings for PTON.
- Strong revenue performance: Peloton achieved 2.88 million paid subscriptions and $624M in total revenue, driven by $419M in subscription revenue despite a slight YoY decline .
- Profitability & cost discipline: Delivered adjusted EBITDA of $89M and $95M in free cash flow, supported by a 23% reduction in operating expenses .
- Balance sheet improvement: Deleveraged significantly with Net Debt reduced by ~$312M (≈35% YoY) .
- Upgraded FY25 guidance: Raised full-year targets with Adjusted EBITDA of $330–$350M and expected Free Cash Flow of ~ $250M .
- Strategic and operational initiatives: Advanced initiatives include enhanced pricing, product innovation, expanding retail/digital presence, improved subscription attach rates, and a 300 basis points increase in male subscription additions .
- Enhanced member satisfaction: Achieved NPS scores above 70 for Cardio products and above 80 for Tread, with notable gains in MSAT scores .
- Charles Kirol has been appointed as Chief Operating Officer, effective April 14, 2025, bringing over 25 years of operational experience to lead key functions such as supply chain and IT.
- Andrew Rendich will transition from Chief Supply Chain Officer to a non-executive advisory role through June 30, 2025, ensuring a smooth transfer of responsibilities.
- Dion Camp Sanders is designated as Chief Commercial Officer, and the company has also launched a search for a Chief Information Officer to bolster its executive leadership.