Peloton, an interactive fitness platform, has formally announced plans to go public by the end of 2019, submitting its initial public offering to the United States Securities and Exchange Commission (SEC).
The company, which describes itself as an “innovation company transforming the lives of people around the world through our ever-evolving fitness platform,” reported revenues of $915 million (USD) in its most recent fiscal year, an increase of 110 percent over the previous year, but also notes a 308 percent increase in net losses over the same period.
Peloton sells the Peloton Bike, launched in 2014, and the Peloton Tread, launched in 2018. Both the Bike and Tread include a touchscreen that streams live and on-demand classes. As of June 30, the company has sold approximately 577,000 connected fitness products and claims over 500,000 connected fitness subscribers.
In Canada, the Peloton Bike retails for $2,950 (the Tread is not currently offered), with access to live and on-demand classes running at $49/month. In addition to studio cycling, Peloton Digital also offers a mix of running, bootcamp, yoga, strength and outdoor workouts.
For more information visit www.onepeloton.ca.