Here is why Peloton Interactive Inc. (PTON) stock plunged on Thursday?

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NXTP Stock
NXTP Stock

Peloton Interactive Inc. (PTON) stock declined 30.15% in after-hours on Thursday, November 04, 2021, and closed the daily trading at $60.11. Even in the regular trading session, PTON’s stock lost 4.27%. PTON shares have fallen 27.44% over the last 12 months, and they have moved down 4.71% in the past week. Over the past three months, the stock has lost 23.63%, while over the past six months, it has gained 2.68%.

Let’s see what’s going on with PTON?


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PTON Stock recent financial results announcement

On November 04, 2021, Peloton Interactive, Inc. (PTON) reported its financial results for the first quarter of 2022.

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PTON Stock Q1 2022 financial highlights

  • PTON reported total revenue of $805.2 million for Q1 2022 compared to $757.9 million in Q1 2021.
  • Gross profit in Q1 2022 was $262.7 million compared to $328.7 million in Q1 2021.
  • The total operating expense was $622.4 million in Q1 2022 compared to $259.8 million in Q1 2021.
  • It suffered a net loss of $376.0 million in Q1 2022 compared to a net income of $69.3 million in the same period last year.
  • Basic and diluted loss per share was $1.25 in Q1 2022 compared to net income of $0.24 per basic share in Q1 2021.
  • Adjusted EBITDA was $233.7 million in Q1 2022 compared to $118.9 million in Q1 2021.
  • As of September 30, 2021, the company had $924.2 million in cash, cash equivalents, and investments in marketable securities.

Q2 2022 financial outlook

For Q2 2022, the company is expecting,

  • Total revenue in the range of $1.1 billion to $1.2 billion.
  • A gross profit margin of approximately 24%
  • Adjusted EBITDA in the range of $325 million to $350 million.

Updated FY 2022 Financial Guidance

For FY 2022, the company is now expecting

  • Total revenue in the range of $4.4 billion to $4.8 billion.
  • A gross profit margin of approximately 32%.
  • Adjusted EBITDA in the range of $425 million to $475 million.

PTON ESG report

On October 25, 2021, Peloton (PTON) published its first Environmental, Social and Governance (ESG) Report, covering its 2021 fiscal year as well as progress from previous years. The report details the company’s dedication to its external and internal communities and offers insight into how Peloton’s values and business will guide its ESG objectives.

PTON Stock & Beyoncé Artist Series

On October 18, 2021, Peloton (PTON)and Beyoncé, announced the newest instalment of the Peloton x Beyoncé Artist Series. The Peloton x Beyoncé Artist Series will offer 72 hours of powerful content, 17 classes over three days with content streamed globally from Peloton Studios New York and the new Peloton Studios London. The Peloton Artist Series is one of the brand’s most anticipated events, with interest going far beyond Peloton’s over 5.9 million members across the globe.

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Conclusion

The recent Q1 2022 financial results were a bit disappointing due to which its stock crashed on Thursday. its decline can continue in the coming trading sessions as well.

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