Peloton Interactive, Inc. Conference Call Summary Company Overview - **Company**: Peloton Interactive, Inc. (NASDAQ:PTON) - **Date**: September 6, 2023 - **Participants**: Liz Coddington (CFO), Eric Sheridan (Goldman Sachs) Key Points Financial Performance - Cash burn reduced from approximately $2.4 billion in FY22 to less than $500 million in FY23 [3] - Operating expenses decreased by over $500 million year-over-year in FY23 [3] - Q4 cash flow was nearly breakeven, excluding one-time costs from a legal settlement [3] Strategic Initiatives - Shift from a high fixed cost structure to a more variable and scalable model to enhance growth efficiency [2] - Launched several initiatives including: - Bike rental program to attract customers hesitant to purchase hardware [3][7] - Refurbished products for price-sensitive customers [3][7] - New app tiering strategy to expand market reach [11] Market Opportunity - The U.S. fitness industry is valued at over $50 billion, with tech-enabled fitness expected to grow [7] - Peloton aims to lower barriers to entry through initiatives like the bike rental program and a free app tier [7][8] Competitive Landscape - Competes with brick-and-mortar gyms, boutique fitness studios, and digital fitness content providers [8] - Focus on investing in high-quality content and personalization to maintain competitive edge [8][9] App Strategy - Introduced a tiered app strategy to cater to different consumer needs: - Free tier for easy access to content [11] - App One at $12.99 for non-hardware users [12] - App Plus for premium connected fitness workouts [12] - Over 900,000 downloads of the free app since launch, with 600,000 new users [13] Fitness as a Service (FaaS) - FaaS program launched to allow customers to rent bikes without commitment, showing over 60% incremental adoption [17] - Churn rate for rental customers is higher, but expected to decline as the subscriber base matures [18] Refurbished Products - Certified refurbished products offered at lower price points to attract price-sensitive customers, with no significant difference in engagement or churn compared to new hardware buyers [20] Peloton for Business - Consolidated commercial strategy to target corporate wellness, hospitality, and educational institutions [22][23] - Strong renewal rates of over 93% for corporate wellness clients [23] International Expansion - Currently operating in Canada, the UK, Germany, and Australia, with plans to expand into smaller adjacent markets in FY24 [33][34] - Focus on localized marketing strategies and partnerships to enhance growth in existing markets [34] Cost Structure and Margins - Transitioned to a more variable cost structure, reducing logistics and warranty costs [37] - Hardware gross margins were negative in Q4 due to fixed cost deleveraging, but unit economics remain positive for most products [37][39] - Long-term target for LTV to CAC ratio is 2x to 3x [39] Future Focus - Next 12 months will focus on returning to growth and accelerating subscriber and revenue growth [45] - Emphasis on maintaining cost discipline while investing in successful initiatives [46] Additional Insights - Strength training is identified as a key growth area, with over 60% of all-access members participating in strength classes monthly [26] - Exploring innovations in gaming and augmented reality for future content offerings [28] - Retail strategy evolving to include partnerships with third-party retailers like Amazon and Dick's Sporting Goods to drive incremental sales [30][31] This summary encapsulates the key insights and strategic directions discussed during the Peloton Interactive, Inc. conference call, highlighting the company's focus on financial improvement, market expansion, and innovative service offerings.

Peloton Interactive, Inc. (NASDAQ:PTON) Q4 2023 Earnings Conference Call August 23, 2023 8:30 AM ET Company Participants Peter Stabler - Head of IR Barry McCarthy - President & CEO Liz Coddington - CFO Conference Call Participants Ron Josey - Citi Doug Anmuth - JPMorgan Justin Post - Bank of America Eric Sheridan - Goldman Sachs Andrew Boone - JMP Securities Shweta Khajuria - Evercore ISI Mario Lu - Barclays Edward Yruma - Piper Sandler John Blackledge - TD Cowen Aneesha Sherman - Bernstein Jonathan Komp - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39058 Peloton Interactive, Inc. (Exact name of registrant as specified in its charter) Delaware 47-3533761 (State or other jurisdiction ...

Peloton Interactive, Inc. (NASDAQ:PTON) J.P. Morgan Global Technology, Media and Communications Conference Transcript May 24, 2023 8:40 AM ET Executives Barry McCarthy - President and CEO Analysts Doug Anmuth - J.P. Morgan Doug Anmuth All right. We are going to go ahead and get started. I am Doug Anmuth, J.P. Morgan’s Internet analyst. I am very excited to have with us today Peloton’s President and CEO, Barry McCarthy. So Peloton provides nearly 7 million members with expert instruction, world-class content ...

Peloton Interactive, Inc. (NASDAQ:PTON) Q3 2023 Earnings Conference Call May 4, 2023 8:30 AM ET Company Participants Peter Stabler - Head of Investor Relations Barry McCarthy - President and Chief Executive Officer Liz Coddington - Chief Financial Officer Conference Call Participants Doug Anmuth - JPMorgan Ron Josey - Citi Justin Post - Bank of America Merrill Lynch Edward Yruma - Piper Sandler Eric Sheridan - Goldman Sachs Aneesha Sherman - Bernstein Shweta Khajuria - Evercore ISI Andrew Boone - JMP Securi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39058 Peloton Interactive, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpor ...

Peloton Interactive, Inc. (NASDAQ:PTON) Morgan Stanley Technology, Media & Telecom Conference March 7, 2023 11:35 AM ET Company Participants Liz Coddington - CFO Conference Call Participants Lauren Schenk - Morgan Stanley Lauren Schenk All right. Good morning, everyone. Thanks for joining us. I'm Lauren Schenk, Morgan Stanley's mid-cap Internet analyst. I'm excited to be joined this morning by Liz Coddington of Peloton CFO. Before we get started, one disclosure on my end, please note that all important disc ...

Peloton Interactive, Inc. (NASDAQ:PTON) Q2 2023 Earnings Conference Call February 1, 2023 8:30 AM ET Company Participants Peter Stabler - Head of IR Barry McCarthy - CEO Liz Coddington - CFO Conference Call Participants Doug Anmuth - JPMorgan Justin Post - Bank of America Merrill Lynch Eric Sheridan - Goldman Sachs Shweta Khajuria - Evercore ISI Ron Josey - Citi Brian Nagel - Oppenheimer Youssef Squali - Truist Edward Yruma - Piper Sandler Aneesha Sherman - Bernstein Kaumil Gajrawala - Credit Suisse Operato ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39058 Peloton Interactive, Inc. (Exact name of registrant as specified in its charter) Delaware 47-3533761 (State or other j ...

Peloton Interactive, Inc. (NASDAQ:PTON) Q1 2023 Earnings Conference Call November 3, 2022 8:30 AM ET Company Participants Peter Stabler – Head-Investor Relations Barry McCarthy – Chief Executive Officer Liz Coddington – Chief Financial Officer Conference Call Participants Doug Anmuth – JPMorgan Edward Yruma – Piper Sandler Justin Post – Bank of America Eric Sheridan – Goldman Sachs Lauren Schenk – Morgan Stanley Shweta Khajuria – Evercore ISI Deepak Mathivanan – Wolfe Research Ron Josey – Citi Aneesha Sherm ...