Peloton Sees Fiscal Q2 Revenue Fall Short of Guidance; Net Loss Wider than Expected

February 5, 2026

Peloton Interactive, Inc. (PTON) has reported that in its fiscal second-quarter, Total Revenue amounted to $657 million for the period ended December 31, a decrease of $17 million, or 3 percent year-over-year, primarily driven by lower-than-expected Connected Fitness Product sales to existing members. Revenue came in $8 million below the company’s previous guidance range.

Ending Paid Connected Fitness Subscriptions were 2.661 million in the quarter, a decrease of 214,000, or 7 percent year-over-year, and 6,000 above the midpoint of the guidance range. PTON saw better-than-expected Average Net Monthly Paid Connected Fitness Subscription Churn following membership price increases announced on October 1, which was partially offset by lower gross additions.

Total Gross Margin was 50.5 percent of revenue in Q2, an increase of 320 basis points year-over-year and 150 basis points above the guidance.

Company GAAP net loss was $39 million, or 9 cents per share, for the quarter. Analysts were expecting a loss of 7 cents per share for the quarter. SGB