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10-Q Filing

PELOTON INTERACTIVE, INC. CIK: 1639825 Q1 2024
Filing Information
Form Type 10-Q
Accession Number 0001639825-23-000164
Period End Date 20230930
Filing Date 20231102
Fiscal Year 2024
Fiscal Period Q1
XBRL Instance pton-20230930_htm.xml
Filing Contents
Balance Sheet 62 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $748.50M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $813.90M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $99.80M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $97.20M USD Point-in-time
Inventories, net InventoryNet $522.60M USD Point-in-time
Inventories, net InventoryNet $514.60M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $224.50M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $205.40M USD Point-in-time
Total current assets AssetsCurrent $1.59B USD Point-in-time
Total current assets AssetsCurrent $1.64B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $444.80M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $420.30M USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $22.80M USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $25.60M USD Point-in-time
Goodwill Goodwill $41.20M USD Point-in-time
Goodwill Goodwill $41.20M USD Point-in-time
Restricted cash RestrictedCashNoncurrent $61.40M USD Point-in-time
Restricted cash RestrictedCashNoncurrent $71.60M USD Point-in-time
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $515.00M USD Point-in-time
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $524.10M USD Point-in-time
Other assets OtherAssetsNoncurrent $24.50M USD Point-in-time
Other assets OtherAssetsNoncurrent $22.70M USD Point-in-time
Total assets Assets $2.77B USD Point-in-time
Total assets Assets $2.67B USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $478.40M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $485.50M USD Point-in-time
Deferred revenue and customer deposits ContractWithCustomerLiabilityCurrent $173.70M USD Point-in-time
Deferred revenue and customer deposits ContractWithCustomerLiabilityCurrent $187.30M 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 $79.70M USD Point-in-time
Operating lease liabilities, current OperatingLeaseLiabilityCurrent $83.50M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $4.60M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $3.60M USD Point-in-time
Total current liabilities LiabilitiesCurrent $761.40M USD Point-in-time
Total current liabilities LiabilitiesCurrent $750.00M USD Point-in-time
0% Convertible Senior Notes, net ConvertibleDebtNoncurrent $989.10M USD Point-in-time
0% Convertible Senior Notes, net ConvertibleDebtNoncurrent $988.00M USD Point-in-time
Term loan, net SecuredLongTermDebt $690.90M USD Point-in-time
Term loan, net SecuredLongTermDebt $691.20M USD Point-in-time
Operating lease liabilities, non-current OperatingLeaseLiabilityNoncurrent $585.70M USD Point-in-time
Operating lease liabilities, non-current OperatingLeaseLiabilityNoncurrent $593.80M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $27.70M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $30.10M USD Point-in-time
Total liabilities Liabilities $3.06B USD Point-in-time
Total liabilities Liabilities $3.04B 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, 342,407,114 and 338,750,774 shares issued and outstanding as of September 30, 2023 and June 30, 2023, respectively; 2,500,000,000 and 2,500,000,000 Class B shares authorized, 18,016,072 and 18,016,853 shares issued and outstanding as of September 30, 2023 and June 30, 2023, 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, 342,407,114 and 338,750,774 shares issued and outstanding as of September 30, 2023 and June 30, 2023, respectively; 2,500,000,000 and 2,500,000,000 Class B shares authorized, 18,016,072 and 18,016,853 shares issued and outstanding as of September 30, 2023 and June 30, 2023, respectively. CommonStockValue - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $4.70B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $4.62B USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $18.70M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $16.80M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-5.09B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-4.93B USD Point-in-time
Total stockholders deficit StockholdersEquity $-295.10M USD Point-in-time
Total stockholders deficit StockholdersEquity $592.90M USD Point-in-time
Total stockholders deficit StockholdersEquity $-370.90M USD Point-in-time
Total stockholders deficit StockholdersEquity $258.50M USD Point-in-time
Total liabilities and stockholders' deficit LiabilitiesAndStockholdersEquity $2.77B USD Point-in-time
Total liabilities and stockholders' deficit LiabilitiesAndStockholdersEquity $2.67B USD Point-in-time
Income Statement 58 line items
Line Item Tag Value Unit Period
Total revenue RevenueFromContractWithCustomerExcludingAssessedTax $595.50M USD 1 Quarter
Total revenue RevenueFromContractWithCustomerExcludingAssessedTax $616.50M USD 1 Quarter
Total cost of revenue CostOfRevenue $399.30M USD 1 Quarter
Total cost of revenue CostOfRevenue $310.10M USD 1 Quarter
Gross profit GrossProfit $285.40M USD 1 Quarter
Gross profit GrossProfit $217.20M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $146.00M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $138.70M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $151.10M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $193.50M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $78.70M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $88.10M USD 1 Quarter
Impairment expense ImpairmentOfLongLivedAssetsHeldForUse $24.00M USD 1 Quarter
Impairment expense ImpairmentOfLongLivedAssetsHeldForUse $62.90M USD 1 Quarter
Restructuring expense RestructuringCharges $17.80M USD 1 Quarter
Restructuring expense RestructuringCharges $106.90M USD 1 Quarter
Supplier settlements GainLossRelatedToSupplierSettlement $1.10M USD 1 Quarter
Supplier settlements GainLossRelatedToSupplierSettlement - USD 1 Quarter
Total operating expenses OperatingExpenses $591.10M USD 1 Quarter
Total operating expenses OperatingExpenses $417.60M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-374.00M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-132.30M USD 1 Quarter
Interest expense InterestExpense $20.90M USD 1 Quarter
Interest expense InterestExpense $27.20M USD 1 Quarter
Interest income InvestmentIncomeInterest $4.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $8.40M USD 1 Quarter
Foreign exchange loss ForeignCurrencyTransactionGainLossUnrealized $-7.80M USD 1 Quarter
Foreign exchange loss ForeignCurrencyTransactionGainLossUnrealized $-17.00M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $200.00K USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $300.00K USD 1 Quarter
Total other expense, net NonoperatingIncomeExpense $-33.70M USD 1 Quarter
Total other expense, net NonoperatingIncomeExpense $-26.20M USD 1 Quarter
Loss before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-158.50M 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 $800.00K USD 1 Quarter
Net loss NetIncomeLoss $-408.50M USD 1 Quarter
Net loss NetIncomeLoss $-159.30M USD 1 Quarter
Net loss attributable to Class A and Class B common stockholders NetIncomeLossAvailableToCommonStockholdersBasic $-159.30M 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 NetIncomeLossAvailableToCommonStockholdersDiluted $-159.30M 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 $-1.20 USD 1 Quarter
Net loss per share attributable to common stockholders, basic (in dollars per share) EarningsPerShareBasic $-0.44 USD 1 Quarter
Net loss per share attributable to common stockholders, diluted (in dollars per share) EarningsPerShareDiluted $-1.20 USD 1 Quarter
Net loss per share attributable to common stockholders, diluted (in dollars per share) EarningsPerShareDiluted $-0.44 USD 1 Quarter
Weighted-average Class A and Class B common shares outstanding, basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 358.55M 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 339.01M shares 1 Quarter
Weighted-average Class A and Class B common shares outstanding, diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 358.55M shares 1 Quarter
Change in foreign currency translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $1.90M USD 1 Quarter
Change in foreign currency translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $5.30M USD 1 Quarter
Reclassification for derivative adjustments included in Net loss OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationForAdjustmentsIncludedInNetIncomeAttributableToParent $-500.00K USD 1 Quarter
Reclassification for derivative adjustments included in Net loss OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationForAdjustmentsIncludedInNetIncomeAttributableToParent - USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $4.80M USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $1.90M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-403.60M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-157.40M USD 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-408.50M USD 1 Quarter
Net loss NetIncomeLoss $-159.30M USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $30.80M USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $29.00M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $182.10M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $74.20M USD 1 Quarter
Non-cash operating lease expense NoncashOperatingLeaseLiabilitiesNet $22.10M USD 1 Quarter
Non-cash operating lease expense NoncashOperatingLeaseLiabilitiesNet $16.80M USD 1 Quarter
Amortization of debt discount and issuance costs AmortizationOfFinancingCostsAndDiscounts $3.20M USD 1 Quarter
Amortization of debt discount and issuance costs AmortizationOfFinancingCostsAndDiscounts $3.50M USD 1 Quarter
Impairment expense ImpairmentOfLongLivedAssetsHeldForUse $24.00M USD 1 Quarter
Impairment expense ImpairmentOfLongLivedAssetsHeldForUse $62.90M USD 1 Quarter
Net foreign currency adjustments ForeignCurrencyTransactionGainLossBeforeTax $-7.80M USD 1 Quarter
Net foreign currency adjustments ForeignCurrencyTransactionGainLossBeforeTax $-17.20M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-1.30M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $3.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $1.40M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-106.00M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $11.80M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $31.70M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-2.70M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $2.00M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $700.00K USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-178.70M USD 1 Quarter
Deferred revenue and customer deposits IncreaseDecreaseInContractWithCustomerLiability $-3.60M USD 1 Quarter
Deferred revenue and customer deposits IncreaseDecreaseInContractWithCustomerLiability $-13.40M USD 1 Quarter
Operating lease liabilities, net IncreaseDecreaseInOperatingLeaseLiability $-16.80M USD 1 Quarter
Operating lease liabilities, net IncreaseDecreaseInOperatingLeaseLiability $-23.90M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-2.30M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-9.90M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-79.20M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-202.80M USD 1 Quarter
Capital expenditures and capitalized internal-use software development costs PaymentsToAcquireProductiveAssets $43.60M USD 1 Quarter
Capital expenditures and capitalized internal-use software development costs PaymentsToAcquireProductiveAssets $4.10M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-43.60M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-4.10M USD 1 Quarter
Principal repayment of Term Loan RepaymentsOfLongTermDebt $1.90M USD 1 Quarter
Principal repayment of Term Loan RepaymentsOfLongTermDebt $1.90M USD 1 Quarter
Proceeds, net from employee stock purchase plan withholdings PaymentsRelatedToTaxWithholdingForShareBasedCompensation $200.00K USD 1 Quarter
Proceeds, net from employee stock purchase plan withholdings ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans $300.00K USD 1 Quarter
Proceeds from employee stock plans ProceedsFromStockOptionsExercised $10.70M USD 1 Quarter
Proceeds from employee stock plans ProceedsFromStockOptionsExercised $4.10M USD 1 Quarter
Principal repayments of finance leases FinanceLeasePrincipalPayments $400.00K USD 1 Quarter
Principal repayments of finance leases FinanceLeasePrincipalPayments $500.00K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $8.20M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $2.10M USD 1 Quarter
Effect of exchange rate changes EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-500.00K 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 $-75.50M USD 1 Quarter
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 Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $885.50M USD Point-in-time
Cash, cash equivalents, and restricted cash Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $809.90M 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, cash equivalents, and restricted cash End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $885.50M USD Point-in-time
Cash, cash equivalents, and restricted cash End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $809.90M USD Point-in-time
Cash paid for interest InterestPaidNet $23.50M USD 1 Quarter
Cash paid for interest InterestPaidNet $16.80M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet $1.20M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet $2.60M USD 1 Quarter
Accrued and unpaid capital expenditures, including software CapitalExpendituresIncurredButNotYetPaid $1.10M USD 1 Quarter
Accrued and unpaid capital expenditures, including software CapitalExpendituresIncurredButNotYetPaid $5.40M USD 1 Quarter
Stock-based compensation capitalized for software development costs EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount - USD 1 Quarter
Stock-based compensation capitalized for software development costs EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount $2.90M USD 1 Quarter
Stockholders Equity 16 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $-295.10M USD Point-in-time
Beginning balance StockholdersEquity $592.90M USD Point-in-time
Beginning balance StockholdersEquity $-370.90M USD Point-in-time
Beginning balance StockholdersEquity $258.50M USD Point-in-time
Activity related to stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $185.40M USD 1 Quarter
Activity related to stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $79.50M USD 1 Quarter
Issuance of common stock under employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $2.00M USD 1 Quarter
Issuance of common stock under employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $3.30M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $1.90M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $4.80M USD 1 Quarter
Net loss NetIncomeLoss $-408.50M USD 1 Quarter
Net loss NetIncomeLoss $-159.30M USD 1 Quarter
Ending balance StockholdersEquity $-295.10M USD Point-in-time
Ending balance StockholdersEquity $592.90M USD Point-in-time
Ending balance StockholdersEquity $-370.90M USD Point-in-time
Ending balance StockholdersEquity $258.50M USD Point-in-time

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

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