NEW YORK (BRAIN) — Peloton's sales grew 66% to $524.6 million in the first quarter, as the brand's Connected Fitness subscriber count grew 94% to 886,100, digital subscribers grew 64% to 176,600 and total membership grew to 2.6 million.
The company said its average Connected Fitness subscriber completed 17.7 workouts per month in this quarter, up from 13.9 workouts last year. Its monthly subscriber churn was 0.46%, its lowest in four years. It's 12-month retention rate was 93%.
Peloton raised its fiscal 202 guidance from $1.72 billion to $1.74 billion total revenue and from $30 million to $40 million Adjusted EBITDA.
"In these unprecedented times, we are grateful for the extremely hard work of our employees around the world, the incredible dedication of our Member community, and the unwavering support of our business partners. As a New York City-based company, we are especially thankful for the strength and sacrifice shown by all of those fighting COVID-19, particularly the first responders, frontline healthcare professionals, and all essential workers who have been tirelessly supporting our communities at home and abroad. From the bottom of our hearts, thank you," the company said in a press release.
