Filing Flows › Peloton Interactive (PTON) › Q1 FY26
Peloton Interactive (PTON) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Nov 6, 2025
Peloton Interactive (PTON) reported revenue of $551M for the first quarter fiscal 2026 (Q1 FY26), -6% from a year earlier and -9% from the quarter before. Operating margin was 7.5%, net earnings $13.9M (2.5% of revenue).
Peloton Interactive, Q1 FY26: revenue $551M (-6% year over year), operating margin 7.5%, net earnings $13.9M, operating cash flow $71.9M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $551M | -9% | -6% |
| Gross profit | $284M | -14% | -7% |
| Operating profit | $41.3M | +40% | +230% |
| Net earnings | $13.9M | -36% | — |
| Operating cash flow | $71.9M | -39% | +475% |
| Free cash flow | $67.4M | — | +530% |
What changed
Revenue was $550.8M in Q1 FY26, down 6% year over year and down 9% from the previous quarter. Subscription was the largest line at 72% of revenue. Subscription lost $27.9M year over year (down 7%), 79% of the total change.
Gross margin was 51.5%, down 0.3 points from a year earlier. Operating profit was $41.3M, a 7.5% margin (up 5.4 points year over year). Operating expenses fell 17% while revenue fell 6%. Net earnings were $13.9M. The effective tax rate was 4.8%.
Operating cash flow was $71.9M (up 475% year over year), 517% of net earnings. Non-cash charges added back $16.8M of depreciation and amortization and $47.2M of share-based compensation. Working capital and other items used $6.0M. After capital expenditures ($4.5M), free cash flow as the company reports it was $67.4M.
Questions
What was Peloton Interactive's revenue in the first quarter fiscal 2026?
Peloton Interactive (PTON) reported revenue of $551M for the first quarter fiscal 2026 (Q1 FY26), -6% from a year earlier and -9% from the quarter before.
Was Peloton Interactive profitable in the first quarter fiscal 2026?
Operating profit was $41.3M (7.5% of revenue) and net earnings $13.9M.