Data: CivicScience; Chart: Axios Visuals

Peloton's stock surged after the company announced its fiscal fourth-quarter sales jumped 172%, thanks to an increase in at-home workouts during the coronavirus pandemic.

The state of play: Investors salivated over Peloton's outlook for the current quarter and fiscal 2021, but a new survey from CivicScience suggests the company may have a hard time finding new customers.

By the numbers: Just 2% of those surveyed are Peloton users and only 4% say they plan to use the products. Worse, the numbers don't improve much at higher income levels — just 1% of respondents making $50,000 or less, 2% of those earning between $50,000–$100,000 and 3% of those earning over $100,000 are users.

  • High earners are the most likely to report being interested in Peloton, but only 7% of those earning at least $50,000 say they are interested.

What it means: Peloton's problem is no longer a lack of brand awareness. Two-thirds of Americans are familiar with the company's product and say they aren't interested.

  • Given that gyms remain closed in many parts of the country and interest is still this low, future customers and revenue will be harder to find.

Go deeper

Dan Primack, author of Pro Rata
Sep 16, 2020 - Economy & Business

Indoor cycling platform Zwift raises $450 million

Illustration: Annelise Capossela/Axios

Zwift, a Long Beach, Calif.-based indoor cycling and running platform, raised $450 million led by KKR at a valuation north of $1 billion.

Why it matters: This round puts a punctuation mark on what has been a huge week for the connected fitness space. First, Peloton reported blowout numbers and new hardware. Then, Apple announced its own fitness content subscription product tied to watches, followed by in-person spin class company Flywheel filing for bankruptcy protection.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 12 a.m. ET: 33,282,969 — Total deaths: 1,000,867 — Total recoveries: 23,066,203Map.
  2. U.S.: Total confirmed cases as of 12 a.m. ET: 7,148,009 — Total deaths: 205,069 — Total recoveries: 2,794,608 — Total tests: 102,342,416Map.
  3. Business: Companies are still holding back earnings guidance.
  4. Health: Trump announces plan to distribute 150 million rapid tests —The childless vaccine.
  5. Media: Fauci: Some of what Fox News reports about COVID-19 is "outlandish"
  6. States: Cuomo extends New York moratorium on evictions until 2021.
  7. World: More than 1 million people have now died from coronavirus — India the second country after U.S. to hit 6 million cases.

Bob Woodward: "I was not going to hide" my opinion on Trump

Bob Woodward didn't want to join Senate Republicans in privately condemning President Trump but declining to do so publicly, he told Jonathan Swan in an interview for "Axios on HBO."

Why it matters: Woodward has covered 9 presidents, but Trump is the first that Woodward explicitly described as "the wrong man for the job."