Peloton sees 2024 revenue $2.675B-$2.75B, consensus $2.75B

Sees adjusted EBITDA (75M)-(25M). Sees ending paid connected fitness subscriptions 2.99M-3.01M, ending paid app subscriptions 0.70M-0.80M. The company said, “Our updated Full Year guidance reflects the expectation that current trends for hardware sales will persist through the remainder of fiscal year, partially offset by faster growth for our Bike rental program and revenue from deliveries of Tread+. It also reflects the expectation that churn will follow our historical seasonal pattern, which includes a seasonal increase in paused subscriptions in Q4. Our outlook is tempered by uncertainty surrounding our ability to efficiently grow Paid App subscribers and the performance of other new initiatives, as well as an uncertain macroeconomic outlook.”