- Christopher Nolan’s Online Peloton Instructor Dissed ‘Tenet’ Vulture
- Christopher Nolan’s Peloton Instructor Slammed One of His Movies During a Workout, Told the Class: ‘That’s a Couple Hours I’ll Never Get Back Again!’ Variety
- ‘Oppenheimer’ director Christopher Nolan was once roasted by his Peloton instructor mid-workout CNN
- Christopher Nolan Reacts to Peloton Instructor Ripping His Movie During Workout TMZ
- Christopher Nolan’s Peloton Instructor Responds to NYFCC Speech: I Loved ‘Oppenheimer’ Despite Slamming ‘Tenet’ IndieWire
Tag Archives: Peloton
Christopher Nolan’s Peloton Instructor Has Seen ‘Oppenheimer’ Twice, Still Doesn’t Understand ‘Tenet’: ‘That S— Went Right Over My Head’ – Variety
- Christopher Nolan’s Peloton Instructor Has Seen ‘Oppenheimer’ Twice, Still Doesn’t Understand ‘Tenet’: ‘That S— Went Right Over My Head’ Variety
- Christopher Nolan Reacts to Peloton Instructor Ripping His Movie During Workout TMZ
- The World Could Learn a Lot From Christopher Nolan About the Value of Film Criticism The Mary Sue
- Christopher Nolan’s Peloton Instructor Slammed One of His Movies During a Workout, Told the Class: ‘That’s a Couple Hours I’ll Never Get Back Again!’ Variety
Christopher Nolan Recalls Peloton Instructor Bashing One of His Movies During Workout Class – Hollywood Reporter
- Christopher Nolan Recalls Peloton Instructor Bashing One of His Movies During Workout Class Hollywood Reporter
- Christopher Nolan’s Peloton Instructor Slammed One of His Movies During a Workout, Told the Class: ‘That’s a Couple Hours I’ll Never Get Back Again!’ Variety
- Christopher Nolan Reacts to Peloton Instructor Ripping His Movie During Workout TMZ
- Christopher Nolan Recalls Peloton Instructor’s Diss Of ‘Tenet’ While He Was Working Out With Her Deadline
- Christopher Nolan’s Peloton Instructor Has Seen ‘Oppenheimer’ Twice, Still Doesn’t Understand ‘Tenet’: ‘That S— Went Right Over My Head’ Variety
Christopher Nolan Recalls Peloton Instructor’s Diss Of ‘Tenet’ While He Was Working Out With Her – Deadline
- Christopher Nolan Recalls Peloton Instructor’s Diss Of ‘Tenet’ While He Was Working Out With Her Deadline
- Christopher Nolan’s Peloton Instructor Slammed One of His Movies During a Workout, Told the Class: ‘That’s a Couple Hours I’ll Never Get Back Again!’ Yahoo Entertainment
- Christopher Nolan Reacts to Peloton Instructor Ripping His Movie During Workout TMZ
- Christopher Nolan recalls getting roasted by his Peloton instructor Entertainment Weekly News
- Christopher Nolan’s Peloton Instructor Hated ‘Tenet’ — And Accidentally Told Him That Mid-Workout Rolling Stone
Christopher Nolan’s Peloton Instructor Slammed One of His Movies During a Workout, Told the Class: ‘That’s a Couple Hours I’ll Never Get Back Again!’ – Variety
- Christopher Nolan’s Peloton Instructor Slammed One of His Movies During a Workout, Told the Class: ‘That’s a Couple Hours I’ll Never Get Back Again!’ Variety
- Christopher Nolan Reacts to Peloton Instructor Ripping His Movie During Workout TMZ
- Christopher Nolan says his Peloton instructor absolutely dragged him for Tenet The A.V. Club
- Christopher Nolan’s Peloton Instructor Has Seen ‘Oppenheimer’ Twice, Still Doesn’t Understand ‘Tenet’: ‘That S— Went Right Over My Head’ Variety
‘He was my idol’: Peloton reacts to Mark Cavendish Tour de France abandon – velo.outsideonline.com
- ‘He was my idol’: Peloton reacts to Mark Cavendish Tour de France abandon velo.outsideonline.com
- Uphill Finish Sees Strong Sprinters Battle It Out! | Tour De France 2023 Highlights – Stage 8 GCN Racing
- Mark Cavendish offered one-year deal for 2024 – could he U-turn on retirement and return to Tour de France? Eurosport COM
- Fan provokes crash that knocks podium contenders down and out of Tour de France velo.outsideonline.com
- Mark Cavendish abandons Tour de France following Stage 8 crash | Cycling on NBC Sports NBC Sports
- View Full Coverage on Google News
Peloton CEO Barry McCarthy doesn’t care Bikes, Treads lose money
Barry McCarthy speaks during an interview with CNBC on floor of the New York Stock Exchange (NYSE), October 28, 2019.
Brendan McDermid | Reuters
Peloton CEO Barry McCarthy told investors Wednesday he doesn’t care that the company is losing money on its Bike, Tread and Row equipment. The business’s “path to the promised land,” he said, is its mobile app.
Peloton posted negative margins during the holiday quarter for its pricey connected fitness products, but McCarthy said he’s more concerned with aggregate margins, which were in the positive thanks to the company’s subscription revenue.
“We take a holistic view of the revenue stream and the expenses associated with both the hardware and the subscription associated with it. So from my part, I don’t particularly care about the hardware margin,” McCarthy said during the company’s earnings call.
“I care about it on an aggregate basis, and I care about the relationship between the lifetime value of the customer relative to the cost of acquisition,” he said.
In Peloton’s fiscal second quarter of 2023, ended Dec. 31, the exercise equipment company lost $42.8 million on its connected fitness products, bringing the division’s gross margin to negative 11.2%.
The company’s overall gross margin of 29.7% was kept afloat by the $277.9 million Peloton made from its subscription business, at a margin of 67.6%.
While subscription revenue was effectively flat quarter over quarter, it exceeded sales from Peloton’s connected fitness products for the third quarter in a row. McCarthy told CNBC it signals a possible “turning point” for the company.
When asked about how the app, which features on-demand workout classes from the company’s pseudo-celebrity instructors, fits into the exercise equipment company’s overall strategy, McCarthy said his primary goal is to expand Peloton’s total market share by reaching a user base that it hasn’t been able to access before.
The cost of the app, which doesn’t require any Peloton equipment, is $12.99 per month compared with the $44 monthly cost for the company’s all-access membership that can be used on its connected fitness equipment.
“I think of it as its own endgame,” McCarthy said.
Peloton (PTON) Q2 earnings 2023
Brody Longo works out on his Peloton exercise bike on April 16, 2021 in Brick, New Jersey.
Michael Loccisano | Getty Images
Peloton said Wednesday its net loss narrowed year over year, and, for the third quarter in a row, subscriptions revenue was higher than sales of the company’s connected fitness products.
CEO Barry McCarthy called the results a possible “turning point” for the business, which has spent much of the past year executing an aggressive turnaround strategy.
The fitness equipment company’s fiscal second quarter revenue beat Wall Street’s expectations, but the company posted wider losses per share than expected. Peloton’s stock jumped about 7% in premarket trading.
Here’s how Peloton did in the three months that ended Dec. 31 compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv:
- Loss per share: 98 cents vs. 64 cents expected
- Revenue: $792.7 million vs. $710 million expected
The company’s reported net loss for the three-month period that ended Dec. 31 was $335.4 million, or 98 cents per share, compared with a loss of $439.4 million, or $1.39 per share, a year earlier. While it’s the eighth quarter in a row the exercise company has reported losses, it’s the narrowest loss Peloton has marked since its 2021 fiscal fourth quarter.
Revenue dropped 30% compared to the year ago period but exceeded the company’s expected range of $700 to $725 million. Connected fitness product sales, which are typically strong during Peloton’s holiday quarter, dropped 52% year-over-year while subscription revenue jumped 22%.
“This is the time of year when, if we’re going to sell a lot of hardware, we have so you would expect there to be lots of hardware related revenue, and you would expect that maybe that revenue would exceed subscription,” McCarthy told CNBC. “It didn’t. It’s why in the letter [to investors], I call it out, as it may be a turning point.”
In his letter to investors, McCarthy said he expects the trend to continue.
The company ended the quarter with 6.7 million total members and 3.03 million connected fitness subscriptions, which is a 10% jump compared to the year ago period. The company counted 852,000 subscribers to its app, a 1% drop compared to the year ago period. It has a goal of getting 1 million people to sign up for trials of its app over the next year.
Peloton is losing money on Bikes, Treads and other machines, but its subscription business has once again kept its overall margins above water. Gross margins for its connected fitness products were negative 11.2%, but gross margins for subscription sales were 67.6%. The total gross margin was 29.7%, up from 24.8% in the year ago period. It declined from the previous quarter, however, driven in part by increased promotions in the holiday quarter.
Peloton expects revenue to be lower but margins higher in the next quarter. The company is forecasting sales between $690 million to $715 million and a total gross margin of about 39%. Wall Street analysts pegged their revenue estimate for the quarter at $692.1 million.
The company is also expecting connected fitness subscribers to be between 3.08 million and 3.09 million.
Next phase of the turnaround
Peloton, which boomed during the earlier days of the pandemic, has been in the midst of a broad turnaround strategy under McCarthy, who took the helm of the business a year ago.
The company’s stock is up about 62% so far this year, closing at $12.93 on Tuesday, giving it a market value of about $4.4 billion. Shares are well off their 52-week high of $40.35, which they hit around the time McCarthy became CEO.
“The viability of the business was very much in doubt when I walked in,” said McCarthy, a former Spotify and Netflix executive. “It probably wouldn’t be an overstatement to say there were some people who didn’t expect us to survive this long.”
Since he took over, McCarthy has cut Peloton’s workforce by more than half, expanded its Bike rental program nationwide, started selling certified pre-owned Bikes, debuted a rowing machine and partnered with Amazon and Dick’s Sporting Goods to sell its Bikes and Treads.
McCarthy’s top priority was to manage cash flow and get the company out of the red, a goal he said the company has nearly accomplished. Free cash flow was negative $94.4 million, compared with negative $246.3 million in the previous quarter and negative $546.7 million in the year-ago period.
McCarthy said he’s ready to pivot from trying to keep the company alive to growing it, he told CNBC.
“Now that we’ve addressed the viability issues, let’s get back to thinking about growth and the future of the business, like full stop,” said McCarthy.
“So there are a bunch of initiatives that we’ve announced that position us to pursue growth,” he added. “And the question we need to answer for investors now that we’re not talking about viability is how fast, how profitable, where’s it coming from, and over time we’ll begin to address some of those questions.”
Peloton’s Leanne Hainsby, 35, diagnosed with breast cancer
Peloton’s Leanne Hainsby has been quietly battling breast cancer since August, she announced on social media Friday.
Hainsby described at length the treatments she’s been receiving after one doctor first dismissed the lump she discovered, sharing that she’s been through 12 weeks of chemotherapy and will begin radiation.
“I would teach my Wednesday morning LIVE classes, and then meet my Mum and go to the treatment suite for my weekly dose (alongside other drugs as part of my treatment plan),” she wrote.
“Chemo is no joke. Cold caps are no joke.”
The British fitness sensation also revealed that she underwent surgery and will have her portacath (a device installed inside the body to dispense treatment) removed next.
“Treatment will continue for a long time for me, hospital visits are the norm, and I focus on one step at a time,” she wrote. “I do feel very fortunate to be having my treatment privately. The nurses and doctors are incredible, and I wouldn’t be here without them.”
Hainsby, 35, also shared that she and her fiancé, fellow Peloton instructor Ben Alldis, had the opportunity to complete one round of IVF prior to her starting chemo.
“We weren’t mentally prepared, but we got it done and we’re so grateful,” she wrote.
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Hainsby, who shared photos of herself dressed in the aforementioned cold caps, is hoping that by sharing her diagnosis she’ll be able to spread awareness and encourage others to always go for second opinions.
“I’m nearly 6 months down the line. I’m in fantastic hands, and I’ve got this,” she shared. “Nobody wants to be sat in a room and told they have cancer, and yet I’ve always felt like one of the lucky ones. I am one of the lucky ones.”
The beloved spin instructor concluded her message assuring fans that she “WILL BE OK,” saying she’s more “empowered” than ever.
“You gain a strength you never knew you had, and you keep pushing forward,” she wrote. “Strong, as healthy as possible, and empowered.”
Alldis also shared photos of Hainsby throughout her treatment journey and gushed over her strength and bravery.
“I am so incredibly proud of you @leannehainsby 💙,” he began his message. “You’ve been an absolute inspiration to all of us and have taken every step of this journey so far in your stride, with so much grace and with your head held high.”
He continued, “Here’s to, as you would say, sparkly days ahead and living our healthiest and happiest lives using the countless lessons that this last year has taught us.
“I love you Leanne💙Your shining light on this world is shining brighter than ever✨.”
Peloton fined $19 million by CPSC in fatal treadmill accident
Peloton — the in-home exercise company that was a highflying darling of the lockdown economy — agreed to the fine to settle allegations related to a series of accidents that culminated in the child’s death in 2021.
“Peloton remains deeply committed to the safety and well-being of our Members and to the continuous improvement of our products,” company spokesperson Ben Boyd said in a statement, adding that the company was “pleased to have reached this settlement agreement.”
The accidents involved people being pulled under the company’s high-end Tread Plus treadmill. In addition to the one death, there were reports of broken bones and deep cuts.
Peloton eventually recalled its Tread Plus treadmills in May 2021, a move that it had bitterly fought over with regulators — leading to an unusually public battle of words and apology from Peloton’s then-chief executive.
“We made a mistake in our response,” John Foley said during an earnings call at the time.
The recall occurred near the start of a long rough period for Peloton, as demand for its stationary bikes and treadmills plummeted as coronavirus pandemic shutdowns eased. It shed thousands of jobs, along with more than half of its stock price. Foley, who co-founded Peloton, resigned from his chief executive role in September.
In November, Peloton reported it was still struggling to turn around the internet-connected fitness empire that at one point defined the stuck-at-home pandemic experience for millions of Americans.
Peloton first learned about problems with its treadmills in late 2018 and, rather than notifying safety regulators, moved to relocate warnings labels to the rear of its treadmills where the entrapments took place, according to the settlement.
The company also looked at the feasibility of a design change to add a rear guard before the child died in March 2021, the settlement said.
But Peloton didn’t notify the CPSC about the problems until one day after the fatal incident.
By then, the company knew about more than 150 reports of people, pets and objects being sucked under its treadmills, the settlement said.
Peloton at first was unwilling to voluntarily recall the treadmills, leading the CPSC to take the rare move of issuing its own warning to the public to stop using the fitness machines. Peloton responded with a statement rebutting the CPSC’s claims. The company eventually backed down.
The CPSC has become increasingly willing to slap firms with civil penalties. In July, Vornado Air agreed to a $7.5 million fine for issues related to its space heaters catching fire. TJX Companies — the parent company of retailers TJ Maxx, Marshalls and HomeGoods — agreed to a $13 million penalty in August for knowingly selling recalled products.
The Peloton fine dwarfs both of those but is shy of the $27.5 million paid by Polaris Industries in 2018 for failing to report defective off-road vehicles.
The CPSC’s settlement with Peloton was approved by a vote of 4-0 by the agency’s commissioners.
“When a company continues to sell dangerous products that they know can cause serious injury or death, it must be held accountable,” CPSC Chair Alexander Hoehn-Saric said in a statement.
Peloton has not given up on its Tread Plus treadmill.
Boyd, the company spokesman, said it’s still tying to get the CPSC’s approval for a rear guard — a sign that the treadmill could return to market.