PTON — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-08-06

• Our portfolio of Connected Fitness Products primarily consists of the Peloton Original Series, Peloton Cross Training Series, Peloton Pro Series, and Precor Products (each defined below, and collectively, the “Connected Fitness Products”), and related accessories, delivery and installation services,…

• In connection with the launch of our Cross Training Series (as defined below), we discontinued the sale of our original series (the “Original Series,” or “Original”) Tread, Tread+, and Row. However, we continue to sell refurbished Original Bike and Original Bike+.

• •Original Bike: Combines fitness, technology, and media, to connect riders to live and on-demand workouts led by Peloton Instructors, as well as alternative workout experiences like Peloton Entertainment, Scenic, and Lanebreak. It has an HD touchscreen and built-in speakers.

• •Original Bike+: Includes all Original Bike features, and unlocks an even more dynamic workout experience with a rotating HD touchscreen, automatic resistance control with the Bike+ electronic braking system, and a more refined design. In select markets, we also provide the opportunity via the Pelot…

• •Original Tread: Combines a cutting-edge treadmill design with Peloton’s compelling Instructor-led Running, Walking, Hiking, and Tread Bootcamp content, as well as Entertainment, Scenic, and Lanebreak. It includes design elements unique to Peloton, like dial control knobs, jump buttons, and an auto-…

Text removed vs the prior filing · source: 10-K · 2025-08-07

• We provide Members with expert instruction and world-class content to create impactful and entertaining workout and wellness experiences for anyone, anywhere, and at any stage in their fitness journey. At home, outdoors, traveling, or at the gym, we offer an immersive and personalized experience. Wi…

• •Peloton Bike: The original Peloton Bike combines fitness, technology, and media to connect riders to live and on-demand workouts led by Peloton Instructors. The Peloton Bike also offers alternative workout experiences like Peloton Entertainment (video streaming), Scenic (guided, time, and distance-…

• •Peloton Bike+: The Peloton Bike+ includes all Bike features and unlocks an even more dynamic workout experience with a rotating HD touchscreen to improve the off-bike workout experience, as well as automatic resistance control with the Bike+ electronic braking system, and a more refined design. Des…

• •Peloton Tread: The Peloton Tread combines a cutting-edge treadmill design with Peloton’s compelling Instructor-led running, walking, hiking, and Tread Bootcamp content, as well as Entertainment, Scenic, and Lanebreak. The Tread includes design elements unique to Peloton, like dial control knobs, ju…

• •Peloton Tread+: The Peloton Tread+ includes all Tread features and unlocks an elevated comfort experience with slat belt technology. It has an upgraded touchscreen and a powerful sound bar designed for the highest quality home workout experience.

Text added vs the prior filing · source: 10-K · 2026-08-06

• Although we reported net income in fiscal year 2026, we have incurred significant operating losses in prior periods and may not be able to sustain profitability on a quarterly or annual basis. Our operating expenses may increase as we invest in growth, including product development, content, marketi…

• •unsatisfactory experiences with the delivery, installation, or servicing of our Connected Fitness Products;

• We have in recent periods experienced, and may continue to experience decreases in consumer demand, resulting in inventory write-downs or write-offs, excess inventory, and discounted product sales that lower our gross margins. In periods of low demand, we may be unable to renegotiate supplier agreem…

• We continue to take actions intended to address the short-term health of our business as well as our long-term objectives based on our current estimates, assumptions and forecasts. These measures are subject to known and unknown risks and uncertainties, including whether we have targeted the appropr…

• Our strategy depends on successfully scaling revenue across multiple channels, product categories, and customer segments, including in commercial markets and in the broader connected wellness and recovery space. If we fail to execute on these priorities, our growth, brand, and financial performance …

Text removed vs the prior filing · source: 10-K · 2025-08-07

• We have incurred operating losses each year since our inception in 2012 and may continue to incur net losses in the future. Our operating expenses may increase in the future as we optimize and grow our business, including, for example, via our sales and marketing efforts, continuing to invest in res…

• •our inability to deliver quality products and functionality, content, and services;

• •unsatisfactory experiences with the delivery, installation, or servicing of our Connected Fitness Products, including due to delivery costs or prolonged delivery timelines and limitations on in-home installation, return, and warranty servicing processes;

• •changes in consumer preferences regarding home fitness; and

• We have in recent periods experienced, and may continue to experience, a decrease in consumer demand, resulting in inventory write-downs or write-offs and the sale of excess inventory at discounted prices, which lower our gross margins and could impair the strength and premium nature of our brand. I…

Text added vs the prior filing · source: 10-K · 2026-08-06

• A discussion of our results of operations for our fiscal year ended June 30, 2025 compared to the year ended June 30, 2024 is included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2025, filed with the SEC on August 7, 2025 (File No. 001-39058) under the heading “Management’s …

• Peloton is a leading global fitness and wellness company that empowers people to live fit, strong, long, and happy, by bringing integrated fitness and wellness experiences to Members (as defined below) anytime, anywhere. Founded in 2012 and headquartered in New York City, we offer a breadth of fitne…

• We define a “Member” as any individual who has a Peloton account through a Paid Connected Fitness Subscription (as defined below) or a Paid App Subscription, inclusive of the Peloton App+, App One, Strength+, and Breathwrk Memberships (our “Peloton Apps”), and engages in one or more workouts in the …

• Our portfolio of Connected Fitness Products primarily consists of the Peloton Original Series, Peloton Cross Training Series, Peloton Pro Series, and Precor Products (collectively, the “Connected Fitness Products”), and related accessories, delivery and installation services, extended warranty and o…

• On February 20, 2026, the U.S. Supreme Court issued a decision invalidating tariffs imposed under the International Emergency Economic Powers Act ("IEEPA"). U.S. Customs and Border Protection (“CBP”) subsequently launched the Consolidated Administration and Processing of Entries (“CAPE”) process to …

Text removed vs the prior filing · source: 10-K · 2025-08-07

• A discussion of our results of operations for our fiscal year ended June 30, 2024 compared to the year ended June 30, 2023 is included our Annual

• Report on Form 10-K for the fiscal year ended June 30, 2024, filed with the SEC on August 22, 2024 (File No. 001-39058) under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”

• Peloton is a leading global fitness and wellness company that empowers its Members to live fit, strong, long, and happy by providing fitness and wellness products and services they can use anytime, anywhere. We have a highly engaged community of approximately 6 million Members as of June 30, 2025, a…

• We define a “Member” as any individual who has a Peloton account through a paid Connected Fitness Subscription or a paid App Subscription, inclusive of the Peloton App+, App One and Strength+ Memberships (our “Peloton Apps”), and engages in one or more workouts in the trailing 12-month period. We de…

• As of June 30, 2025, actions pursuant to our 2024 Restructuring Plan, which includes any remaining restructuring activity under the original 2022 Restructuring Plan, have been substantially completed. As such, any remaining charges under these plans are included within the 2025 Restructuring Plan.

Text added vs the prior filing · source: 10-K · 2026-08-06

• We have experienced fluctuations in our net income (loss), primarily as a result of transaction gains and losses related to the remeasurement of our intercompany asset and liability balances that are denominated in currencies other than the functional currency of the entities in which they are recor…

• As a result of inflationary conditions, there have been and may continue to be additional pressures on the ongoing increases in supply chain and logistics costs, materials costs, and labor costs. The effect of U.S. and global tariffs may spur inflationary conditions and create further pressures on c…

Text removed vs the prior filing · source: 10-K · 2025-08-07

• As a result of inflationary conditions, there have been and may continue to be additional pressures on the ongoing increases in supply chain and logistics costs, materials costs, and labor costs. The effect of U.S. and global tariffs may spur inflationary conditions and create further pressures on c…