Filing Flows › Peloton Interactive (PTON) › Q3 FY26
Peloton Interactive (PTON) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed May 7, 2026
Peloton Interactive (PTON) reported revenue of $631M for the third quarter fiscal 2026 (Q3 FY26), +1% from a year earlier and -4% from the quarter before. Operating margin was 8.3%, net earnings $26.4M (4.2% of revenue).
Peloton Interactive, Q3 FY26: revenue $631M (+1% year over year), operating margin 8.3%, net earnings $26.4M, operating cash flow $153M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $631M | -4% | +1% |
| Gross profit | $327M | -1% | +3% |
| Operating profit | $52.5M | — | — |
| Net earnings | $26.4M | — | — |
| Operating cash flow | $153M | +112% | +58% |
| Free cash flow | $150M | — | +59% |
What changed
Revenue was $630.9M in Q3 FY26, up 1% year over year and down 4% from the previous quarter. Subscription was the largest line at 68% of revenue. Subscription added $9.5M year over year (up 2%), 138% of the total change. Connected Fitness Products declined 1%.
Gross margin was 51.9%, up 0.9 points from Q3 FY25. Operating profit was $52.5M, a 8.3% margin (up 13.5 points year over year). Operating expenses fell 22% while revenue rose 1%. Net earnings were $26.4M. The effective tax rate was 1.5%.
Operating cash flow was $152.7M (up 58% year over year), 578% of net earnings. Non-cash charges added back $13.6M of depreciation and amortization and $52.7M of share-based compensation. Working capital and other items added $60.0M. After capital expenditures ($2.2M), free cash flow as the company reports it was $150.5M.
Questions
What was Peloton Interactive's revenue in the third quarter fiscal 2026?
Peloton Interactive (PTON) reported revenue of $631M for the third quarter fiscal 2026 (Q3 FY26), +1% from a year earlier and -4% from the quarter before.
Was Peloton Interactive profitable in the third quarter fiscal 2026?
Operating profit was $52.5M (8.3% of revenue) and net earnings $26.4M.