NEW YORK (BRAIN) — Peloton Interactive's fourth-quarter revenue grew 54% over last year's final quarter, to $937 million, as the company's fiscal year revenues topped $4 billion for the first time.
However, although the quarterly sales total was ahead of estimates, the company lost $313 million in the quarter and the growth rate declined from last year's growth of 172%.
Last week Peloton announced a 20% price cut to its original Peloton Bike. The Peloton Bike now retails for $1,495 or $39 a month with a financing plan.
The company's subscriptions rose 114% year over year to 2.33 million. Average monthly workouts per user declined from 24.7 last year to 19.9 this year, which Peloton said it expected.
The company said improved weather over last year, as well as increased consumer mobility, contributed to the numbers. The company provided guidance for full-year fiscal 2022 revenue of $5.4 billion.
The quarterly loss resulted from Peloton's recent voluntary recall of its treadmills and higher supply-chain and logistics expenses.
