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Peloton Has Filed for IPO

posted by janrinok on Friday August 30 2019, @01:39PM   Printer-friendly
from the on-yer-bike! dept.

"Anonymous Cow" writes:

https://www.thetechie.xyz/2019/08/peloton-files-for-ipo.html

Shortly after confidentially filing for an IPO, Peloton has publicly filed for that, with an S-1 filing unveiled less than 24 hours ago. Peloton is seeking to raise $500 million on the Nasdaq stock exchange, intending to trade under the ticker "PTON". According to its S-1 filing, New York-based Peloton recorded $915 million in revenue in the fiscal year ended June 30, 2019. This is up more than 100% from $435 million in the previous year (2018), and $219 million in 2017.

However, Peloton isn't profitable, with $246 million in losses in the fiscal year ended June 2019. In 2018, the company recorded [a significantly lower] $48 million in losses, compared to a much higher $163 million loss in 2017. Sales of Peloton's connected fitness products account for a bulk of its revenue. In fiscal 2019, Peloton recorded $719 million in revenue from sales of fitness products, with $181 million coming from subscriptions and $15 million from "other" sources.

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  • (Score: 4, Informative) by VLM on Friday August 30 2019, @02:02PM (6 children)

    by VLM (445) on Friday August 30 2019, @02:02PM (#887746)

    Couldn't figure out what this was, but some googling finds

    https://www.onepeloton.com [onepeloton.com]

    Amusing how much financial jargon can be thrown around, entire page fulls at least, without any idea what the product is or why anyone would want it.

    I will say its odd that I go to a pretty expensive high end gym where they throw money around like crazy on equipment, but I've never seen this $2300 bicycle. My gym does have a "bicycle studio" with a ton of dumb bikes and multiple giant projection TVs and massive surround sound system. So, when the weather is suboptimal, which around here is only eleven months out of the year, you can feel like you're biking the grand canyon or whatever VR-cave-ish experience they want. I'm not a biker, but its only 100 feet away from the weights, so I'm kinda semi familiar with it. The people I see in it seem very happy. It is louder than hell especially the "surround sound thunderstorm" video that I keep hearing. Anyway, the point of this ramble is the Pelton product SEEMS to be a shrunken single person version of what my gym has.

    I will note that it seems every cardio machine in my gym has a TV attached either factory or after market. There's a lot of boomers at my gym especially during the day and trying to keep boomers away from TV is like trying to keep heroin addicts away from heroin. Actually, I know more boomers who quit heroin than quit TV. But whatever. The point is, I don't see the long term success of a company that seems to boil down to heavily marketing the idea of bolting a TV to an exercise bike.

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  • (Score: 5, Insightful) by fustakrakich on Friday August 30 2019, @02:30PM

    by fustakrakich (6150) on Friday August 30 2019, @02:30PM (#887754) Journal

    Long term? Please... The goal here is *Take the money and run*.

    --
    La politica e i criminali sono la stessa cosa..

  • (Score: 2) by takyon on Friday August 30 2019, @02:41PM (1 child)

    by takyon (881) <takyonNO@SPAMsoylentnews.org> on Friday August 30 2019, @02:41PM (#887760) Journal

    Didn't hear about this company until IPO.

    --
    [SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]

  • (Score: 4, Informative) by Rupert Pupnick on Friday August 30 2019, @05:18PM (2 children)

    by Rupert Pupnick (7277) on Friday August 30 2019, @05:18PM (#887840) Journal

    The gimmick that distinguishes Peloton from an exercise-bike-plus-screen-based-media is that you (along with other members of a group) are connected to a live trainer. A bit 1984ish for my taste, thanks. Plus there's a subscription fee.

    I have a hard time seeing how it can form the basis of a successful business, but as a mostly unplugged Old School technocrank, I don't think I'm in a position to judge.