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$PTON Earnings call highlights:
Rev growth beat with $1.262B up 141% with Bike and Bike+ showing strength.
+414K net new subs - strongest net adds ever
+0.31% churn - lowest churn rate on record
Digital subs up 404%; CF subs up 135%
Strong 20% conversion rate from Digi to CF https://twitter.com/ocshree/status/1389665073166123009
Rev growth beat with $1.262B up 141% with Bike and Bike+ showing strength.
+414K net new subs - strongest net adds ever
+0.31% churn - lowest churn rate on record
Digital subs up 404%; CF subs up 135%
Strong 20% conversion rate from Digi to CF https://twitter.com/ocshree/status/1389665073166123009
Recall notes:
-expecting 1 qtr impact for Tread (fix is a lock screw)
- Tread likely ships in July
- expect 2-3 qtrs for Tread+ (IMO) need to dev a plastic guard
- only 10%-15% likely to return Tread+
Impact will be temporary
- built reserves and conserv Q4 guidance from recall
-expecting 1 qtr impact for Tread (fix is a lock screw)
- Tread likely ships in July
- expect 2-3 qtrs for Tread+ (IMO) need to dev a plastic guard
- only 10%-15% likely to return Tread+
Impact will be temporary
- built reserves and conserv Q4 guidance from recall
Guidance notes:
Est of $915M for Q4; still expect $4B full year revenues
Aus launch coming F22
Spain/Spanish launch likely
Accelerated R&D for addition devices.
Est of $915M for Q4; still expect $4B full year revenues
Aus launch coming F22
Spain/Spanish launch likely
Accelerated R&D for addition devices.
Closing:
Tread fix is a simple lock screw. Resume sales July. Tread+ could take longer but won’t matter.
Mkt spend resuming but still light
Precor set to begin mfg bikes by end of CY21
F22 lining up to be strong
Healthy with $2.7B cash/eq
Growing TAM; Intl expansion; new prod
Tread fix is a simple lock screw. Resume sales July. Tread+ could take longer but won’t matter.
Mkt spend resuming but still light
Precor set to begin mfg bikes by end of CY21
F22 lining up to be strong
Healthy with $2.7B cash/eq
Growing TAM; Intl expansion; new prod
