PELOTON ANNOUNCES COST REDUCTION EFFORTS TO POSITION COMPANY TO SUSTAIN MEANINGFUL, POSITIVE FREE CASH FLOW
NEW YORK, May 2, 2024 /PRNewswire/ -- Peloton Interactive, Inc. (NASDAQ: PTON) today announced comprehensive restructuring efforts to align the company's cost structure with the current size of its business. This restructuring will position Peloton for sustained, positive free cash flow, while enabling the company to continue to invest in software, hardware and content innovation, improvements to its member support experience, and optimizations to marketing efforts to scale the business. Upon full implementation, the company expects the plan to result in reduced annual run-rate expenses by more than $200 million by the end of its 2025 fiscal year.
- This restructuring will position Peloton for sustained, positive free cash flow, while enabling the company to continue to invest in software, hardware and content innovation, improvements to its member support experience, and optimizations to marketing efforts to scale the business.
- Upon full implementation, the company expects the plan to result in reduced annual run-rate expenses by more than $200 million by the end of its 2025 fiscal year.
- In advance of the earnings call, please visit the Peloton investor relations website – https://investor.onepeloton.com/financial-information/quarterly-results – to view the third quarter shareholder letter.
- A live webcast of the conference call will also be available on the company's investor relations website at https://investor.onepeloton.com/news-and-events/events .