Peloton told investors Thursday it still has a “steep hill to climb” to achieve profitable growth under its new CEO and won’t be ready to focus on boosting sales until it fixes its balance sheet.
The bike maker posted mixed fiscal second-quarter results, as it topped Wall Street’s sales estimates but lost more than expected as it continued its efforts to make its costly hardware business more profitable.
The company also cut costs in three key areas that it has faced criticism for spending too much on – marketing, administrative costs, and research and development – leading it to blow away analyst expectations for adjusted EBITDA.Â
In his first earnings call as Peloton’s CEO, Peter Stern said that work is only going to grow.
“While we are working on our long-term growth strategy for fiscal 26 and beyond, our financial goals for fiscal 25 and continued discipline toward improving gross margins, reducing operating costs and…
