Peloton revenue falls 22% YoY

 

Peloton's Q3 revenue fell 22% YoY to $748.9M.   CEO Barry McCarthy said in a shareholder letter on Thursday that Peloton would relaunch its fitness brand this month. Peloton narrowed its net loss YoY to $275.9M from $757.1M in 2022. The firm's operating expenses fell YoY from $920M to $536.2M. McCarthy said the firm plans to relaunch its brand to provide more clarity on "the brand value proposition."  Peloton announced separately that it offered Dish a $75M settlement to resolve a U.S. International Trade Commission complaint.