Peloton files for IPO
Peloton, the New York-based company best known for its stationary exercise bike and accompanying exercise videos, has filed to go public on the Nasdaq stock exchange under the symbol "PTON."
Why it matters: Peloton is both a hardware and software subscription company (and a content streamer), whose CEO boldly compares it to Apple.
By the numbers:
- The company generated revenue of $218.6 million, $435 million and $915 million for fiscal years 2017, 2018 and 2019, respectively.
- But it also incurred net losses of $71.1 million, $47.9 million and $195.6 million for those same years, respectively.
- Again, for those same years, its subscriber count was 107,708, 245,667 and 511,202, respectively.
- Its average net monthly churn, a key metric for a company touting itself as a subscription business, was 0.70%, 0.64%, and 0.65%, respectively.