Peloton Interactive (PTON) FY2024 results: revenue $2.7 billion, down 3.6% on the year

Peloton Interactive, Inc. (PTON) reported revenue of $2.7 billion for fiscal 2024, the year ended 30 June 2024, down 3.6% on the year before. Net income was -$552 million, and diluted earnings per share $-1.51. The figures are the company's own, from the 10-K it filed with the SEC on 22 August 2024.

Revenue

$2.7 billion

-3.6% on the year

FY2018FY2024

Operating margin

-19.6%

-42.8% a year earlier

FY2018FY2024

Net income

-$552 million

FY2018FY2024

Diluted EPS

-$1.51

FY2018FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	2,700	2,800	3,582	-3.6%
Cost of revenue	1,494	1,877	2,884	-20.4%
Gross profit	1,206	924	698	+30.6%
Gross margin	44.7%	33.0%	19.5%
Research and development	305	318	360	-4.3%
Operating income	-529	-1,197	-2,734
Operating margin	-19.6%	-42.8%	-76.3%
Interest expense	112	97.1	43.0	+15.9%
Pre-tax income	-552	-1,258	-2,808
Income tax	-0.2	3.7	19.6
Net income	-552	-1,262	-2,828
Net margin	-20.4%	-45.1%	-78.9%
Diluted EPS	-$1.51	-$3.64	-$8.77

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	-66.1	-388	-2,020
Capital expenditure	19.7	82.4	337	-76.1%
Free cash flow	-85.8	-470	-2,357
Free cash flow margin	-3.2%	-16.8%	-65.8%
Cash from investing	26.8	-69.9	153
Cash from financing	-94.4	76.8	2,015
Depreciation and amortisation	109	124	143	-12.5%
Share-based compensation	312	405	328	-23.0%
Diluted shares, weighted	366m	347m	322m	+5.4%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	-519	-295	593
Debt	1,549	1,686	1,562	-8.1%
Operating lease liabilities	503	594	725	-15.2%
Other liabilities	652	784	1,149	-16.8%
Total liabilities and equity	2,185	2,769	4,028	-21.1%
Fixed assets	354	445	611	-20.5%
Goodwill	41.2	41.2	41.2	0.0%
Intangible assets	15.0	25.6	41.3	-41.4%
Investments	n/a	n/a	0.0
Cash and equivalents	698	814	1,254	-14.3%
Receivables	104	97.2	83.6	+6.6%
Inventory	330	523	1,104	-36.9%
Other assets	644	824	893	-21.8%
Total assets	2,185	2,769	4,028	-21.1%

10-K for the year ended 30 June 2024, filed 22 August 2024: the filing.