A red flag bigger than when your mate's new BF doesn't have Instagram.
Peloton is the $31 billion US fitness company famous for its spensy exercise bikes (like $3k spensy)...and for recalling a whole heap of dodgy treadmills.
This crew gained a tonne of momentum during COVID thanks to their live-streamed classes. We said bye-bye to paying for gym memberships we weren't using...and hello to buying yoga mats and stationary bikes we actually did use.
While Peloton reached a huge 2.3 million subscribers, for the first time since the pandemic started, the number of users that joined in the last 3 months...actually dropped. And not only did it drop, those subscribers who did join were spending less time on their bikes. Yikes.
Every business has key metrics that it strives towards in order to achieve its big, hairy goals. For Peloton, those goals are:
During COVID, health and fitness equipment revenue surged to a huge $3.1 billion. Sales of treadmills soared 125%, and sales of stationary bikes nearly TRIPLED.
But all of a sudden, restrictions have started to ease around the world, and Peloton's key metrics have started to drop.
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