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
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.
PTON YoY Financials
Q4 2026 vs Q4 2025, source: SEC Filings
PTON Revenue by Segment
With YoY comparisons, source: SEC Filings
“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
PTON Earnings Trends
PTON vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PTON EPS Trend
Earnings per share: estimate vs actual
PTON Revenue Trend
Quarterly revenue: estimate vs actual
PTON Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT FY 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 | $0.12 | $0.13 | +6.21% | $607.7M | +1.78% |
| FY Full Year | $0.13 | $0.14 | +8.53% | $2.45B | +0.51% |
| Q3 26 MISS | $0.08 | $0.06 | -20.42% | $630.9M | +2.13% |
| Q2 26 MISS | $-0.06 | $-0.09 | -53.85% | $656.5M | -2.76% |
| Q1 26 BEAT | $0.00 | $0.03 | +934.48% | $550.8M | +1.80% |
| Q4 25 BEAT FY | $-0.05 | $0.05 | +194.52% | $606.9M | +4.65% |
| FY Full Year | $-0.42 | $-0.30 | +27.90% | $2.49B | +1.18% |
| Q3 25 MISS | $-0.06 | $-0.12 | -110.53% | $624.0M | +0.44% |