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

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: 1, Insightful) by Anonymous Coward on Friday August 30 2019, @02:20PM

    by Anonymous Coward on Friday August 30 2019, @02:20PM (#887752)

    Everyone wants to cash-in before the financial collapse. There is at least the idea that a collapse is coming and they don't want to be left with negative net worth. There is also the exposure they get when becoming public. Those who have never heard of the said company might hear the name and perhaps buy the stock hoping that finally their greed will bear fruit.

    In the meantime, the manipulators will pump the stock until the public starts buying it and the manipulators will cash out, leaving the greedy public holding a negative yielding asset.

    Any company not making money should not exist (destroying value should not be rewarded), unless that company works in the interest of the people, that is, a government-run public-funded entity.

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