Peloton prices IPO at $29 per share
model of subscription membership, the company boasts 1.4 million members, which it defines as an individual with a Peloton account. Its roughly $2,000 bikes and $4,000 treadmill help it command strong margins.
Growing membership has helped Peloton's sales grow to $915 million for the fiscal year ended June 30, up 110% from $435 million in fiscal 2018. Those sales, though, have come at a cost. Its 2019 net loss widened to $245.7 million, from a net loss of $47.9 million in the prior year, amid growing sales and marketing costs.The company is also battling litigation, including a $300 million lawsuit lodged by 10 music publishers and artistic groups, which accuse Peloton of using of more than 2,200 songs without licensing any of them.Its investors include Kleiner Perkins and L Catterton.
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