Peloton Interactive reported a net loss of $551.9 million for fiscal year 2024, as revenue declined 3.6% to $2.7 billion. Connected Fitness Products revenue fell 12.2% to $991.7 million, while Subscription revenue grew 2.3% to $1.71 billion. The company implemented restructuring plans to reduce costs, including a 15% workforce reduction and retail location closures.Peloton refinanced its debt, issuing $350 million in new convertible notes and a $1 billion term loan while repurchasing $801 million of existing notes. The company ended the year with $697.6 million in cash and expects to achieve over $200 million in annual cost savings by fiscal 2025. Free cash flow improved to -$85.8 million from -$470 million the prior year.Looking ahead, Peloton is focused on improving its financial position and member experience. The company launched new social features to drive engagement and expanded commercial partnerships. While facing ongoing challenges, management believes its restructuring efforts and strategic initiatives will position Peloton for sustained positive free cash flow and continued investment in product innovation.

Peloton Interactive reported a net loss of $551.9 million for fiscal year 2024, as revenue declined 3.6% to $2.7 billion. Connected Fitness Products revenue fell 12.2% to $991.7 million, while Subscription revenue grew 2.3% to $1.71 billion. The company implemented restructuring plans to reduce costs, including a 15% workforce reduction and retail location closures.Peloton refinanced its debt, issuing $350 million in new convertible notes and a $1 billion term loan while repurchasing $801 million of existing notes. The company ended the year with $697.6 million in cash and expects to achieve over $200 million in annual cost savings by fiscal 2025. Free cash flow improved to -$85.8 million from -$470 million the prior year.Looking ahead, Peloton is focused on improving its financial position and member experience. The company launched new social features to drive engagement and expanded commercial partnerships. While facing ongoing challenges, management believes its restructuring efforts and strategic initiatives will position Peloton for sustained positive free cash flow and continued investment in product innovation.