Peloton is launching a $2,495 treadmill in May, which will be smaller than its current Tread+ treadmill, but $1,800 cheaper.
Peloton shares spiked as much as 11% in premarket trading on Tuesday. The maker of internet-connected exercise machines has agreed to acquire Precor, a leading commercial supplier of fitness equipment, for $US420 million in cash. Peloton intends to use Precor’s US manufacturing facilities to ramp up production and improve its […]
Echelon CEO Lou Lentine told Business Insider that it was a “complete surprise” to hear that Amazon was not on board with the company’s new $US500 “Prime Bike.” Echelon announced the new bike on Tuesday and said it was developed “in collaboration with Amazon.” Hours later, Amazon cancelled all sales […]
Amazon said that Echelon’s $US500 “Prime Bike” that went on sale Tuesday is “not an Amazon product or related to Amazon Prime,” and removed it from sale. The bike went on sale exclusively to Amazon Prime members. Smart exercise company Echelon previously claimed the bike was developed with Amazon, and […]
Frustrated Peloton customers say it’s taken weeks and even months for the fitness company to make repairs to their broken bikes. They described issues like their left pedal detaching from the bike mid-ride. Peloton temporarily ended in-home service appointments because of the coronavirus pandemic, but it has since restarted the […]
Peloton stock rose as much as 13% in pre-market trading on Friday after the connected-fitness group reported its first quarterly profit. Robust demand for at-home exercise equipment and online classes drove revenue up 172% to $US607 million in the three months to June 30, generating $US89 million in net income. […]
Peloton’s stock plunged 15% in three days this week, wiping more than $US1.5 billion from its market capitalisation. The connected-fitness startup is facing backlash over a ‘sexist, tone-deaf, and dystopian’ holiday advert. Consumer sentiment can cause “a lot more stock price volatility when there are events that can cause people’s […]
In an interview with CNBC in 2018, Peloton cofounder and CEO John Foley said the company was “weirdly profitable” for its size and age. In financial documents made public Tuesday, however, the seven-year-old startup reported $US245.7 million in net loss in fiscal 2019, up from $US47.9 million in net loss […]