Peloton said in its Q4 2023 earnings call that a recent bike seat recall was costlier than expected. | Illustration by Alex Castro / The Verge
In its latest earnings call, Peloton reported a net loss of $242 million for the quarter. It also lost 29,000 subscribers from last quarter and had a higher-than-anticipated monthly churn of 1.4 percent. While some of that was attributed to summer doldrums, Peloton noted that costs for a recent bike seat post-recall “substantially exceeded” initial expectations to the tune of $40 million. An estimated 15 to 20 thousand members also chose to pause their subscriptions ahead of recei...
