Peloton Interactive lost less money and improved its free cash flow in the latest quarter, but the company’s outlook suggests it still has a long way to go to get back in good graces with investors.
It has been a wild ride for the exercise company. Peloton (ticker: PTON) saw a boost in sales during the pandemic when Americans who were stuck at home ordered treadmills and bikes in droves. Shares surged 432% in 2020. But as the pandemic receded, so did Peloton’s financial fitness. Peloton posted wider-than-expected losses last year, citing pressure from gyms reopening.