Fitness equipment maker Peloton is adding to its top line as well as its net losses, the company revealed in a pre-IPO filing on Tuesday.
Peloton posted revenue of $915 million for fiscal 2019, representing growth of 110% over the prior year. Its net losses also widened, with Peloton reporting a loss of $245.7 million compared to $47.9 million in fiscal 2018.
Pelton, which sells at-home fitness equipment as well as memberships for at-home workouts, said it has a membership base of 1.4 million. Of those members, 511,202 are defined as “connected subscribers,” meaning they have a paid subscription. That number increased this year up from 245,667 in 2018.
Its take-home equipment ranges from $2000 to about $4000, and various subscriptions range from about $20 to $40 per month.
Its underwriters, Goldman Sachs (GS – Get Report) and J.P. Morgan (JPM – Get Report) , reportedly valued the company at $8 billion in February.
Peloton is aiming to raise $500 million in its IPO. It is due to list shares on the Nasdaq under the ticker PTON.
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