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 September 30, 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 ...

Summary of Peloton Interactive, Inc. Conference Call Company Overview - **Company**: Peloton Interactive, Inc. (NASDAQ:PTON) - **Event**: Goldman Sachs Communacopia + Technology Conference 2022 - **Date**: September 12, 2022 - **Participants**: Barry McCarthy (CEO), Eric Sheridan (Goldman Sachs) Key Points Industry and Market Opportunity - Peloton holds over 70% market share in the premium Connected Fitness category, which is currently shrinking post-COVID as consumers return to gyms and travel [5][6] - The long-term market opportunity is expected to expand beyond the premium segment through a digital product strategy and a tiered pricing model [6][12] - The company aims to broaden its Total Addressable Market (TAM) by introducing a "good, better, best" pricing strategy [6][30] Business Strategy and Turnaround - Barry McCarthy emphasizes the need for growth alongside cost-cutting measures to achieve a successful turnaround [14][17] - The company has exited first-party manufacturing and renegotiated supply agreements to stabilize operations [15] - Peloton aims to achieve sustained positive cash flow by Q4 of the fiscal year ending June 2023, targeting $1 billion in cash reserves [15][16] Subscription and Digital Strategy - Peloton is transitioning from a hardware-centric model to a software-focused approach, emphasizing the importance of user experience [11][12] - The subscription model is crucial, with a low churn rate of 1.4% per month, which is significantly better than industry standards [12][36] - The digital subscription strategy aims to attract users who do not own Peloton hardware, thus expanding the customer base [38][43] Pricing Strategy - Initial price cuts were necessary to manage excess inventory, but the company is now implementing a structured pricing strategy to cater to different consumer segments [29][30] - The pricing strategy is designed to balance demand elasticity while maintaining premium offerings for less price-sensitive customers [30][31] Retail Strategy - Peloton is shifting its retail strategy from a heavy physical presence to exploring partnerships with third-party retailers like Amazon [49][50] - The company recognizes the need to rationalize costs associated with maintaining retail infrastructure due to declining foot traffic [49] International Expansion - International growth has been slower due to high initial costs and the need for breakeven, but there is potential for future expansion [53][54] - Cultural differences may pose challenges in content translation and market penetration in regions like Asia [54] Content and User Engagement - Peloton is focusing on enhancing content personalization to improve user engagement and satisfaction [61][62] - The company is considering opening its platform to third-party content to broaden its appeal and user experience [57][58] Future Outlook - The company is optimistic about the potential of Fitness-as-a-Service (FaaS) and is exploring various growth avenues, including digital strategies and partnerships [21][66] - The rejoin business model, where former subscribers return, is seen as a hidden revenue stream that could significantly contribute to future growth [70] Additional Insights - The company is committed to improving its marketing efforts to raise brand awareness for its digital offerings, which currently has low recognition [39] - Barry McCarthy's leadership is focused on leveraging his experience from previous roles at Spotify and Netflix to drive Peloton's growth strategy [2][11]

Peloton Interactive, Inc. (NASDAQ:PTON) Q4 2022 Earnings Conference Call August 25, 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 Justin Post - Bank of America Doug Anmuth - JPMorgan Ron Josey - Citi Lauren Schenk - Morgan Stanley Edward Yruma - Piper Sandler Eric Sheridan - Goldman Sachs Shweta Khajuria - Evercore ISI Kaumil Gajrawala - Credit Suisse John Blackledge ...

Summary of Peloton Interactive, Inc. Conference Call Company Overview - Peloton Interactive, Inc. is recognized as the leading interactive fitness platform globally, boasting a community of over 7 million members across the U.S., UK, Canada, Germany, and Australia [2][5] - The company has pioneered connected technology-enabled fitness and streaming of immersive, instructor-led boutique classes [2] Key Points Discussed Leadership and Strategy - Barry McCarthy, the new President and CEO, emphasizes the importance of user experience and product-market fit, noting Peloton's high Net Promoter Score [5][6] - McCarthy aims for revenue growth exceeding 20% year-over-year and positive cash flow by FY23 [5][6] Market Potential - Peloton has a long-term goal of reaching 100 million members, which is about half the global gym membership total [7][8] - The company is exploring the potential of a digital app to enhance growth and international opportunities, moving away from a hardware-centric model [8][9] Financial Performance and Cost Management - Peloton reported a cash burn of nearly $750 million in fiscal Q3, which is unsustainable [10][11] - The company plans to cut $800 million in annual costs by FY24, with $500 million from operating expenses and $300 million from Connected Fitness cost of goods sold (COGS) [16][18] - McCarthy highlights the need for better supply chain management to transition from cash consumption to cash generation [11][12] Distribution and User Experience - There have been quality issues with third-party distributors affecting user experience, which the company is working to resolve [20][21] - The company is focusing on improving its first-party distribution network to enhance service quality [20][21] Product and Pricing Strategy - Peloton is shifting towards a "fitness-as-a-service" model, which includes giving away hardware in exchange for a higher monthly fee [24][25] - Early tests of this model showed a 90% uplift in certain markets, prompting further expansion of the offering [25][27] Digital App and Marketing Strategy - The digital app currently has low brand awareness (around 4%) but is seen as a critical component of the growth strategy [36][37] - McCarthy plans to invert the marketing strategy to leverage the digital app for broader awareness of the all-access subscription [39] Financial Outlook and Debt Management - Peloton raised $750 million in debt to ensure liquidity and bridge to cash flow positivity [46][47] - McCarthy expresses confidence in managing cash flow and does not foresee the need for equity sales at current valuations [50][51] Future Vision - In two years, McCarthy envisions discussing 20-25% growth, new platforms, international expansion, and the success of the fitness-as-a-service model [51] Additional Insights - The company is focused on understanding the economics of the fitness-as-a-service model, including churn rates and customer engagement metrics [30][31] - There is a strategic emphasis on balancing growth with cash flow breakeven, acknowledging the challenges of rapid expansion [45][46]

Peloton Interactive, Inc. (NASDAQ:PTON) Q3 2022 Earnings Conference Call May 10, 2022 8:30 AM ET Company Participants Peter Stabler - Senior Vice President, Investor Relations Barry McCarthy - President & Chief Executive Officer Jill Woodworth - Chief Financial Officer Conference Call Participants Doug Anmuth - JPMorgan Justin Post - Bank of America Youssef Squali - Truist Securities Ron Josey - Citi Shweta Khajuria - Evercore Arpine Kocharyan - UBS James Kopelman - Cowen Eric Sheridan - Goldman Sachs Anees ...

Peloton Interactive, Inc. (NASDAQ:PTON) Q2 2022 Earnings Conference Call February 8, 2022 8:30 AM ET Company Participants Peter Stabler - Head of Investor Relations John Foley - Co-Founder & Chief Executive Officer Jill Woodworth - Chief Financial Officer Conference Call Participants Doug Anmuth - JPMorgan Edward Yruma - KeyBanc John Blackledge - Cowen Eric Sheridan - Goldman Sachs Jason Helfstein - Oppenheimer Shweta Khajuria - Evercore ISI Bernie McTernan - Needham & Company Jonathan Komp - Baird Operator ...

Peloton Interactive, Inc. (NASDAQ:PTON) Q1 2022 Earnings Conference Call November 4, 2021 5:00 PM ET Company Participants Peter Stabler - Head-IR John Foley - Co-Founder and CEO William Lynch - President Jill Woodworth - CFO Conference Call Participants Doug Anmuth - JPMorgan Edward Yruma - KeyBanc Capital Markets Justin Post, Bank - America Youssef Squali - Truist Securities Eric Sheridan - Goldman Sachs Laurent Vasilescu - Exane BNP Paribas Operator Thank you for standing by, and welcome to Peloton's Fisc ...