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Peloton Interactive (PTON) earnings and revenue breakdown
Latest: Q1 FY27 · 10-Q filed Nov 5, 2026 · Peloton Interactive (PTON) Q1 FY27 earnings results →
Q1 FY27 Revenue up 2% year over year to $559M · 17¢ of every $1 of revenue kept as net profit · operating margin 20.8%
Peloton Interactive made $559M in Q1 FY27 (+2% Y/Y): Subscription $411M, Connected Fitness Products $148M. Operating margin 20.8%, net earnings $96.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $559.2M in Q1 FY27, up 2% year over year and down 8% from the previous quarter. Subscription was the largest line at 73% of revenue. Subscription added $12.3M year over year (up 3%), 146% of the total change. Connected Fitness Products declined 3%.
Gross margin was 61.3%, up 9.8 points from Q1 FY26. Operating profit was $116.4M, a 20.8% margin (up 13.3 points year over year). Of the extra revenue versus Q1 FY26, 894% reached operating profit, above the 7% margin then. Operating expenses fell 7% while revenue rose 2%. The fastest-growing cost line was Sales & marketing (+15%). Net earnings were $96.2M, up 592% year over year. The effective tax rate was 1.5%.
Operating cash flow was $145.7M (up 103% year over year), 151% of net earnings. Non-cash charges added back $11.3M of depreciation and amortization and $39.9M of share-based compensation. After capital expenditures ($2.3M), free cash flow as the company reports it was $143.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q1 FY27 | 10-Q | Nov 5, 2026 | $559M | +2% | 20.8% | $96.2M | $146M |
| Q4 FY26 | 10-K | Aug 6, 2026 | $608M | +0.1% | 13.4% | $61.6M | $91.1M |
| Q3 FY26 | 10-Q | May 7, 2026 | $631M | +1% | 8.3% | $26.4M | $153M |
| Q2 FY26 | 10-Q | Feb 5, 2026 | $656M | -3% | -2.2% | −$38.8M | $71.9M |
| Q1 FY26 | 10-Q | Nov 6, 2025 | $551M | -6% | 7.5% | $13.9M | $71.9M |
| Q4 FY25 | 10-K | Aug 7, 2025 | $607M | -6% | 4.9% | $21.6M | $117M |
| Q3 FY25 | 10-Q | May 8, 2025 | $624M | -13% | -5.2% | −$47.7M | $96.7M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Peloton Interactive
Peloton is a leading global fitness and wellness company that empowers people to live fit, strong, long, and happy, by bringing integrated fitness and wellness experiences to Members (as defined below) anytime, anywhere. Founded in 2012 and headquartered in New York City, we offer a breadth of fitness and wellness solutions to consumers worldwide, including our highly engaged community of approximately 5.5 million Members as of June 30, 2026, across the United States, United Kingdom, Canada, Germany, Australia, and Austria, and Commercial Business Unit customers in over 60 countries. As a category innovator at the nexus of fitness, wellness, technology, and media, we deliver integrated experiences through our world-renowned instructors (“Instructors”), premium hardware and innovative software, personalization, and extensive modalities and an expansive content library.
In its own words, from its 10-K, filed Aug 6, 2026.
Peloton Interactive against its Sporting & Athletic Goods, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +2% against the peers' median +2%. Operating margin: 20.8% against the peers' median 10.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| PTON Peloton Interactive | Q1 FY27 | $559M | +2% | 20.8% |
| GOLF Acushnet Holdings | Q3 2026 | $649M | -1% | 12.4% |
| YETI Yeti Holdings | Q2 2026 | $484M | +8% | 19.3% |
| CALY Callaway Golf | Q3 2026 | $437M | -6% | 10.2% |
| JOUT Johnson Outdoors | Q3 FY26 | $190M | +5% | 9.7% |
| SBDS Solo Brands | Q2 2026 | $88.5M | -4% | 4.0% |
| CLAR Clarus | Q3 2026 | $71.2M | +3% | 4.7% |
| ESCA Escalade | Q3 2026 | $65.6M | -3% | 13.2% |
| AOUT American Outdoor Brands | Q1 FY27 | $37.3M | +25% | -5.7% |
Source: Peloton Interactive 10-Q on SEC EDGAR · CIK 1639825 · Sporting & Athletic Goods, NEC
Guidance and outlook
13F: who owns PTON and who is buying
More on PTON
- How Peloton Interactive makes money: revenue by segment
- Peloton Interactive next earnings date and what analysts expect
- Peloton Interactive stock forecast, price target and fair value
- Who owns Peloton Interactive stock: holders, funds and Congress trades
- Peloton Interactive guidance and outlook
- Is Peloton Interactive a takeover target? LBO and rumors
- Peloton Interactive recalls, complaints and regulation
History
Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results
- Peloton Interactive guidance history: guided vs reported
- Peloton Interactive gross margin by quarter
- Peloton Interactive operating margin by quarter
- Peloton Interactive net income by quarter
- Peloton Interactive free cash flow by quarter
- Peloton Interactive R&D spending by quarter
- Peloton Interactive capital expenditures by quarter
- Peloton Interactive Subscription revenue by quarter
- Peloton Interactive Connected Fitness Products revenue by quarter