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10-Q Filing

PELOTON INTERACTIVE, INC. CIK: 1639825 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001639825-22-000134
Period End Date 20220930
Filing Date 20221103
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance pton-20220930_htm.xml
Filing Contents
Balance Sheet 62 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $938.50M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.25B USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $83.60M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $81.90M USD Point-in-time
Inventories, net InventoryNet $993.20M USD Point-in-time
Inventories, net InventoryNet $1.10B USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $192.50M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $279.20M USD Point-in-time
Total current assets AssetsCurrent $2.29B USD Point-in-time
Total current assets AssetsCurrent $2.63B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $495.90M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $610.90M USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $41.30M USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $37.30M USD Point-in-time
Goodwill Goodwill $41.20M USD Point-in-time
Goodwill Goodwill $41.20M USD Point-in-time
Restricted cash RestrictedCashNoncurrent $78.10M USD Point-in-time
Restricted cash RestrictedCashNoncurrent $3.80M USD Point-in-time
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $662.50M USD Point-in-time
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $616.10M USD Point-in-time
Other assets OtherAssetsNoncurrent $31.10M USD Point-in-time
Other assets OtherAssetsNoncurrent $34.30M USD Point-in-time
Total assets Assets $3.59B USD Point-in-time
Total assets Assets $4.03B USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $797.40M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $622.30M USD Point-in-time
Deferred revenue and customer deposits ContractWithCustomerLiabilityCurrent $201.10M USD Point-in-time
Deferred revenue and customer deposits ContractWithCustomerLiabilityCurrent $197.40M USD Point-in-time
Current portion of long-term debt and other bank borrowings LongTermDebtCurrent $7.50M USD Point-in-time
Current portion of long-term debt and other bank borrowings LongTermDebtCurrent $7.50M USD Point-in-time
Operating lease liabilities, current OperatingLeaseLiabilityCurrent $89.80M USD Point-in-time
Operating lease liabilities, current OperatingLeaseLiabilityCurrent $86.40M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $13.20M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $10.30M USD Point-in-time
Total current liabilities LiabilitiesCurrent $927.20M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.11B USD Point-in-time
0% Convertible senior notes, net ConvertibleDebtNoncurrent $864.00M USD Point-in-time
0% Convertible senior notes, net ConvertibleDebtNoncurrent $984.60M USD Point-in-time
Term loan, net SecuredLongTermDebt $690.10M USD Point-in-time
Term loan, net SecuredLongTermDebt $690.00M USD Point-in-time
Operating lease liabilities, non-current OperatingLeaseLiabilityNoncurrent $691.60M USD Point-in-time
Operating lease liabilities, non-current OperatingLeaseLiabilityNoncurrent $725.40M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $40.50M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $50.70M USD Point-in-time
Total liabilities Liabilities $3.44B USD Point-in-time
Total liabilities Liabilities $3.33B USD Point-in-time
Commitments and contingencies (Note 8) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 8) CommitmentsAndContingencies - USD Point-in-time
Common stock, $0.000025 par value; 2,500,000,000 and 2,500,000,000 Class A shares authorized, 311,105,668 and 308,241,938 shares issued and outstanding as of September 30, 2022 and June 30, 2022, respectively; 2,500,000,000 and 2,500,000,000 Class B shares authorized, 28,733,963 and 30,032,078 shares issued and outstanding as of September 30, 2022 and June 30, 2022, respectively. CommonStockValue - USD Point-in-time
Common stock, $0.000025 par value; 2,500,000,000 and 2,500,000,000 Class A shares authorized, 311,105,668 and 308,241,938 shares issued and outstanding as of September 30, 2022 and June 30, 2022, respectively; 2,500,000,000 and 2,500,000,000 Class B shares authorized, 28,733,963 and 30,032,078 shares issued and outstanding as of September 30, 2022 and June 30, 2022, respectively. CommonStockValue - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $4.32B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $4.29B USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $12.20M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $17.10M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-3.71B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-4.08B USD Point-in-time
Total Stockholders equity StockholdersEquity $258.50M USD Point-in-time
Total Stockholders equity StockholdersEquity $1.75B USD Point-in-time
Total Stockholders equity StockholdersEquity $1.51B USD Point-in-time
Total Stockholders equity StockholdersEquity $592.90M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $3.59B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $4.03B USD Point-in-time
Income Statement 62 line items
Line Item Tag Value Unit Period
Total revenue RevenueFromContractWithCustomerExcludingAssessedTax $805.20M USD 1 Quarter
Total revenue RevenueFromContractWithCustomerExcludingAssessedTax $616.50M USD 1 Quarter
Cost of revenue CostOfRevenue $542.20M USD 1 Quarter
Cost of revenue CostOfRevenue $399.30M USD 1 Quarter
Gross profit GrossProfit $217.20M USD 1 Quarter
Gross profit GrossProfit $263.00M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $284.10M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $138.70M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $240.40M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $193.50M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $97.70M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $88.10M USD 1 Quarter
Impairment expense ImpairmentOfLongLivedAssetsHeldForUse $62.90M USD 1 Quarter
Impairment expense ImpairmentOfLongLivedAssetsHeldForUse $600.00K USD 1 Quarter
Restructuring expense RestructuringCharges $106.90M USD 1 Quarter
Restructuring expense RestructuringCharges - USD 1 Quarter
Supplier settlements GainLossRelatedToSupplierSettlement - USD 1 Quarter
Supplier settlements GainLossRelatedToSupplierSettlement $1.10M USD 1 Quarter
Total operating expenses OperatingExpenses $591.10M USD 1 Quarter
Total operating expenses OperatingExpenses $622.70M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-359.70M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-374.00M USD 1 Quarter
Interest expense InterestExpense $8.60M USD 1 Quarter
Interest expense InterestExpense $20.90M USD 1 Quarter
Interest income InvestmentIncomeInterest $600.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $4.00M USD 1 Quarter
Foreign exchange losses ForeignCurrencyTransactionGainLossUnrealized $-17.00M USD 1 Quarter
Foreign exchange losses ForeignCurrencyTransactionGainLossUnrealized $-5.20M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $200.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-700.00K USD 1 Quarter
Total other expense, net NonoperatingIncomeExpense $-13.90M USD 1 Quarter
Total other expense, net NonoperatingIncomeExpense $-33.70M USD 1 Quarter
Loss before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-373.60M USD 1 Quarter
Loss before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-407.70M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $800.00K USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $2.40M USD 1 Quarter
Net loss NetIncomeLoss $-376.00M USD 1 Quarter
Net loss NetIncomeLoss $-408.50M USD 1 Quarter
Net loss attributable to Class A and Class B common stockholders NetIncomeLossAvailableToCommonStockholdersBasic $-408.50M USD 1 Quarter
Net loss attributable to Class A and Class B common stockholders NetIncomeLossAvailableToCommonStockholdersBasic $-376.00M USD 1 Quarter
Net loss attributable to Class A and Class B common stockholders NetIncomeLossAvailableToCommonStockholdersDiluted $-376.00M USD 1 Quarter
Net loss attributable to Class A and Class B common stockholders NetIncomeLossAvailableToCommonStockholdersDiluted $-408.50M USD 1 Quarter
Net loss per share attributable to common stockholders, basic (in dollars per share) EarningsPerShareBasic $-1.25 USD 1 Quarter
Net loss per share attributable to common stockholders, basic (in dollars per share) EarningsPerShareBasic $-1.20 USD 1 Quarter
Net loss per share attributable to common stockholders, basic, diluted (in dollars per share) EarningsPerShareDiluted $-1.25 USD 1 Quarter
Net loss per share attributable to common stockholders, basic, diluted (in dollars per share) EarningsPerShareDiluted $-1.20 USD 1 Quarter
Weighted-average Class A and Class B common shares outstanding, basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 301.16M shares 1 Quarter
Weighted-average Class A and Class B common shares outstanding, basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 339.01M shares 1 Quarter
Weighted-average Class A and Class B common shares outstanding, diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 301.16M shares 1 Quarter
Weighted-average Class A and Class B common shares outstanding, diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 339.01M shares 1 Quarter
Net unrealized losses on marketable securities OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax - USD 1 Quarter
Net unrealized losses on marketable securities OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-200.00K USD 1 Quarter
Change in foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $5.30M USD 1 Quarter
Change in foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $200.00K USD 1 Quarter
Net unrealized loss on hedging derivatives OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax - USD 1 Quarter
Net unrealized loss on hedging derivatives OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $-1.00M USD 1 Quarter
Reclassification for derivative adjustments included in Net loss OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationForAdjustmentsIncludedInNetIncome $-500.00K USD 1 Quarter
Reclassification for derivative adjustments included in Net loss OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationForAdjustmentsIncludedInNetIncome - USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $4.80M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-1.10M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-403.60M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-377.10M USD 1 Quarter
Cash Flow Statement 72 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-376.00M USD 1 Quarter
Net loss NetIncomeLoss $-408.50M USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $29.00M USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $28.10M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $52.90M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $182.10M USD 1 Quarter
Non-cash operating lease expense NoncashOperatingLeaseLiabilitiesNet $19.20M USD 1 Quarter
Non-cash operating lease expense NoncashOperatingLeaseLiabilitiesNet $22.10M USD 1 Quarter
Amortization of premium from marketable securities AccretionAmortizationOfDiscountsAndPremiumsInvestments $-2.50M USD 1 Quarter
Amortization of premium from marketable securities AccretionAmortizationOfDiscountsAndPremiumsInvestments - USD 1 Quarter
Amortization of debt discount and issuance costs AmortizationOfFinancingCostsAndDiscounts $3.20M USD 1 Quarter
Amortization of debt discount and issuance costs AmortizationOfFinancingCostsAndDiscounts $8.50M USD 1 Quarter
Impairment expense ImpairmentOfLongLivedAssetsHeldForUse $62.90M USD 1 Quarter
Impairment expense ImpairmentOfLongLivedAssetsHeldForUse $600.00K USD 1 Quarter
Excess and obsolete inventory reserve adjustments InventoryWriteDown - USD 1 Quarter
Excess and obsolete inventory reserve adjustments InventoryWriteDown $-4.00M USD 1 Quarter
Net foreign currency adjustments ForeignCurrencyTransactionGainLossBeforeTax $-17.20M USD 1 Quarter
Net foreign currency adjustments ForeignCurrencyTransactionGainLossBeforeTax $-5.20M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-1.30M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $9.80M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $332.40M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-109.90M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $40.40M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $11.80M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-2.70M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $8.40M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $56.00M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-178.70M USD 1 Quarter
Customer deposits and deferred revenue IncreaseDecreaseInContractWithCustomerLiability $40.60M USD 1 Quarter
Customer deposits and deferred revenue IncreaseDecreaseInContractWithCustomerLiability $-3.60M USD 1 Quarter
Operating lease liabilities, net IncreaseDecreaseInOperatingLeaseLiability $-9.00M USD 1 Quarter
Operating lease liabilities, net IncreaseDecreaseInOperatingLeaseLiability $-16.80M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-9.90M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $1.30M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-561.00M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-202.80M USD 1 Quarter
Maturities of marketable securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities - USD 1 Quarter
Maturities of marketable securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $120.30M USD 1 Quarter
Capital expenditures, including software PaymentsToAcquireProductiveAssets $91.00M USD 1 Quarter
Capital expenditures, including software PaymentsToAcquireProductiveAssets $43.60M USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $29.30M USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $-43.60M USD 1 Quarter
Principal repayment of Term Loan RepaymentsOfLongTermDebt - USD 1 Quarter
Principal repayment of Term Loan RepaymentsOfLongTermDebt $1.90M USD 1 Quarter
Proceeds from employee stock purchase plan withholdings ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans $300.00K USD 1 Quarter
Proceeds from employee stock purchase plan withholdings ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans $6.20M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $23.80M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $4.10M USD 1 Quarter
Principal repayments of finance leases FinanceLeasePrincipalPayments $500.00K USD 1 Quarter
Principal repayments of finance leases FinanceLeasePrincipalPayments $500.00K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $29.60M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $2.10M USD 1 Quarter
Effect of exchange rate changes EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-20.10M USD 1 Quarter
Effect of exchange rate changes EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.20M USD 1 Quarter
Net change in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-241.00M USD 1 Quarter
Net change in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-522.20M USD 1 Quarter
Cash, cash equivalents, and restricted cash Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.14B USD Point-in-time
Cash, cash equivalents, and restricted cash Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $613.50M USD Point-in-time
Cash, cash equivalents, and restricted cash Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.02B USD Point-in-time
Cash, cash equivalents, and restricted cash Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.26B USD Point-in-time
Cash, cash equivalents, and restricted cash End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.14B USD Point-in-time
Cash, cash equivalents, and restricted cash End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $613.50M USD Point-in-time
Cash, cash equivalents, and restricted cash End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.02B USD Point-in-time
Cash, cash equivalents, and restricted cash End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.26B USD Point-in-time
Cash paid for interest InterestPaidNet $300.00K USD 1 Quarter
Cash paid for interest InterestPaidNet $16.80M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet $2.60M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet $1.90M USD 1 Quarter
Accrued and unpaid capital expenditures, including software CapitalExpendituresIncurredButNotYetPaid $5.40M USD 1 Quarter
Accrued and unpaid capital expenditures, including software CapitalExpendituresIncurredButNotYetPaid $66.40M USD 1 Quarter
Stock-based compensation capitalized for software development costs EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount $2.90M USD 1 Quarter
Stock-based compensation capitalized for software development costs EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount $2.50M USD 1 Quarter
Stockholders Equity 16 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $258.50M USD Point-in-time
Beginning balance StockholdersEquity $1.75B USD Point-in-time
Beginning balance StockholdersEquity $1.51B USD Point-in-time
Beginning balance StockholdersEquity $592.90M USD Point-in-time
Activity related to stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $118.00M USD 1 Quarter
Activity related to stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $185.40M USD 1 Quarter
Issuance of common stock under employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $11.70M USD 1 Quarter
Issuance of common stock under employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $3.30M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $4.80M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-1.10M USD 1 Quarter
Net loss NetIncomeLoss $-376.00M USD 1 Quarter
Net loss NetIncomeLoss $-408.50M USD 1 Quarter
Ending balance StockholdersEquity $258.50M USD Point-in-time
Ending balance StockholdersEquity $1.75B USD Point-in-time
Ending balance StockholdersEquity $1.51B USD Point-in-time
Ending balance StockholdersEquity $592.90M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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