Goldman Sachs Group, Inc.

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Other Pre-Announcement

Peloton Interactive Inc - Average Net Monthly Connected Fitness Churn For The Quarter Was 0.75%

Published: 05/10/2022 11:32 GMT
Goldman Sachs Group, Inc. (GS) - Peloton Interactive Inc - Total Revenue for the Quarter Was $964.3 Million, Versus.
$1,262.3 Million in Covid-impacted Q3 FY21.
Peloton Interactive Inc - Average Net Monthly Connected Fitness Churn for the Quarter Was 0.75%.
Peloton Interactive Inc - Digital App Subscriptions Ended the Quarter at 976 Thousand, Up 114 Thousand From Q2.
Peloton Interactive Inc - Inventory Has Consumed an Enormous Amount of Cash, More Than We Expected, Which Has Caused US to Rethink Our Capital Structure.
Peloton Interactive Inc - Believe the Inventory Will Sell Eventually, So This is Primarily a Cash Flow Timing Issue, Not a Structural Issue.
Peloton Interactive Inc - Expect to Achieve $165 Million Operating Expense Reductions in 2hfy22, and Approximately $450 Million in Savings for FY23.
Peloton Interactive Inc - in Connected Fitness Cogs, Expect Actions Will Yield $30 - $35 Million Savings in 2hfy22 & $100 Million in Savings for FY23.
Peloton- Finished Quarter With $879 Million in Unrestricted Cash and Cash Equivalents, Which Leaves US Thinly Capitalized.
Peloton- Earlier This Week Signed a Binding Commitment Letter With Jp Morgan and Goldman Sachs to Borrow $750 Million in 5-year Term Debt.
Peloton- Current Cash Flow Headwind Should Become a Tailwind in FY23; Our Goal is to Restore the Business to Positive Free Cash Flow in FY23.