Peloton Interactive, Inc. announced its fiscal fourth quarter 2024 results, reporting total revenue of $643.6 million, a slight increase of 0.2% year-over-year. This marks the first quarter of positive revenue growth in over two years for the connected fitness company. The company's gross profit significantly improved by 55% to $312 million.
The operating loss for the quarter was $63.3 million, a substantial improvement from the $225.8 million loss reported in the prior-year period. Peloton also drastically reduced its cash burn, utilizing $66.1 million from day-to-day operating activities over the past 12 months, down from $387.6 million in the previous year. These financial improvements are attributed to ongoing cost-cutting initiatives.
Despite the revenue stabilization, the company reported a decline in its subscriber base. Paid app subscriptions decreased by 26% year-over-year to 615,000, and the total number of members fell by 2% to 6.4 million. Connected equipment subscriptions also saw a 1% year-over-year drop.
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