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Peloton

Peloton (PTON) Q4 2026 Earnings

Reported Aug 6, 2026 at 6:59 AM ET · SEC Source

Q4 26 EPS GAAP

$0.13

BEAT +6.21%

Est. $0.12

Includes $23.8 million nonrecurring accrued legal contingency related to patent litigation in Q4; also includes $6.7 million restructuring expense and $(0.1) million impairment reversal

Q4 26 Revenue

$607.7M

BEAT +1.78%

Est. $597.1M

vs S&P Since Q4 26

-13.2%

TRAILING MARKET

PTON -12.6% vs S&P +0.6%

Full Year 2026 Results

FY 26 EPS

$0.14

BEAT +8.53%

Est. $0.13

FY 26 Revenue

$2.45B

BEAT +0.51%

Est. $2.43B

Market Reaction

Did PTON Beat Earnings? Q4 2026 Results

Peloton Interactive delivered a cleaner-than-expected finish to fiscal 2026, posting fourth-quarter GAAP earnings of $0.13 per share, beating the $0.12 consensus by 6.21%, while revenue of $607.70 million edged ahead of the $597.06 million estimate b… Read more Peloton Interactive delivered a cleaner-than-expected finish to fiscal 2026, posting fourth-quarter GAAP earnings of $0.13 per share, beating the $0.12 consensus by 6.21%, while revenue of $607.70 million edged ahead of the $597.06 million estimate by 1.78% and held essentially flat year-over-year at plus 0.1%. The results landed despite a $23.80 million nonrecurring accrued legal contingency tied to patent litigation, a $6.70 million restructuring charge, and a $0.10 million impairment reversal, all of which are embedded in the reported GAAP figure. The clearest engine behind the quarter's profit improvement was cost discipline, with total operating expenses falling 12% year-over-year to $263.20 million and total gross margin expanding 260 basis points to 56.7%, even as paid connected fitness subscriptions slipped 8.8% to 2.55 million. Looking ahead, Peloton guided full-year FY27 revenue of $2.30 to $2.40 billion with Adjusted EBITDA of $475 to $525 million, signaling that margin expansion, rather than subscriber recovery, remains the company's primary financial lever.

Key Takeaways

  • • Cost structure improvements exceeded $100 million run-rate savings target
  • • Total gross margin expanded 260 basis points YoY to 56.7% in Q4
  • • Subscription revenue grew 7% YoY driven by pricing and mix
  • • Equipment sales outperformance across both Peloton and Precor brands drove FY26 revenue $6 million above guidance range
  • • Operating expenses decreased 12% YoY in Q4

PTON Forward Guidance & Outlook

For Q1 FY27, Peloton expects total revenue of $545–$565 million (up 0.8% YoY at midpoint), total gross margin of approximately 57.0% (up 550 bps YoY), Adjusted EBITDA of $135–$145 million (up 18.4% YoY at midpoint), and ending paid connected fitness subscriptions of 2.455–2.475 million (down 9.8% YoY at midpoint). For full year FY27, the company guides total revenue of $2.3–$2.4 billion (down 3.9% YoY at midpoint), total gross margin of approximately 54.0% (up 140 bps YoY), Adjusted EBITDA of $475–$525 million (up 6.8% YoY at midpoint), and free cash flow of at least $350 million.

24/7 Wall St

PTON YoY Financials

Q4 2026 vs Q4 2025, source: SEC Filings

24/7 Wall St

PTON Revenue by Segment

With YoY comparisons, source: SEC Filings

Q3 25 Q4 26

“Fiscal 2026 was a defining milestone as Peloton delivered its first full year of net profitability driven by our improved revenue trajectory and substantial improvements in our cost structure”

— Peter Stern, Q4 2026 Earnings Press Release

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