Peloton reported Q1 FY2027 financial results

Item 2.02 Results of Operations and Financial Condition.

On November 5, 2026 , Peloton Interactive, Inc. ("Peloton" or the "Company") will hold a conference call regarding its financial results for the quarter ended September 30, 2026.¹

Peloton also issued a press release announcing its financial results for the quarterly period ended September 30, 2026.¹ A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Peloton is making reference to non-GAAP financial information in both the press release and the conference call.² A reconciliation of GAAP to non-GAAP results is provided in the press release, as attached to this Current Report on Form 8-K.²

Peloton uses its Investor Relations website (https://investor.onepeloton.com/investor-relations) and Press Newsroom (https://www.onepeloton.com/press) as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

The information furnished with Item 2.02 to this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Exhibit Description

99.1 Press Release, dated November 5 , 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PELOTON INTERACTIVE, INC.

Date: November 5, 2026

By: /s/ Siddharth Thacker

Siddharth Thacker

Chief Financial Officer

Peloton Announces Q1 FY2027 Financial Results

Third Consecutive Quarter with Year-over-Year Revenue Growth

GAAP Net Cash Provided by Operating Activities was $146 million, an increase of $74 million or 103% year-over-year.

GAAP Net Income was $96 million.⁴ Adjusted EBITDA* was $168 million, an increase of $50 million or 42% year-over-year.⁴

Reduced Gross Principal Debt Outstanding by nearly $500 million or 32% in calendar year 2026.⁷

NEW YORK, NY – November 5, 2026 – Peloton Interactive, Inc. today reported financial results for the quarter ended September 30, 2026.

Q1 FY2027 Financial Highlights

• Total Revenue for Q1 was $559 million, an increase of $8 million or 2% year-over-year and $4 million above the midpoint of our guidance range.³

• Ending Paid Connected Fitness Subscriptions were 2.475 million, a decrease of 9% year-over-year and at the top of our guidance range.

• Total Gross Margin was 61.3% in Q1, representing a year-over-year increase of 975 basis points and above our guidance of 57%, partially driven by nonrecurring benefits.⁶

• GAAP Net income was $96 million in Q1. Adjusted EBITDA* was $168 million, an increase of $50 million, up 42% year-over-year.

• GAAP Net cash provided by operating activities was $146 million in Q1. Free Cash Flow* was $143 million for the quarter and an increase of $76 million or 113% year-over-year.⁵

"Our Q1 results underscore the strength of our business and reinforce the trajectory of our multi-year transformation. Our purposeful innovation has enabled us to target the multibillion-dollar at-home treadmill market with our best products and broadest price range ever, advance digital personalized training through Peloton IQ, and launch the Peloton Commercial Series to meet Members wherever they train," said Peter Stern, Peloton's CEO and President. "Looking ahead, we are focused on unlocking new vectors for growth, and powered by an accelerating multi-year pipeline, exceptional Member retention and our beloved brand, we are even better positioned to define the future of connected fitness and wellness."

"We began the fiscal year by demonstrating that our financial engine is operating efficiently in the short-term while positioning us for the future. Our performance across the top and bottom lines is testament to our disciplined approach on cost along with continued strong Member engagement and strength in our commercial business," said Sid Thacker, Peloton's Chief Financial Officer. "With solid fundamentals, healthy margins, and strong liquidity, we believe we have the balance sheet and flexibility to pursue our strategic ambitions and provide strong returns to our stakeholders in FY2027 and beyond."

Recent Business Highlights

• Announced a new Tread lineup, including Tread Flex, the Company's first space-saving and foldable treadmill.⁸

• Announced new Peloton IQ features for runners, walkers and hikers, including Run Analysis, IQ Pace Targets and ReRuns.

• Commercial Business Unit Revenue once again grew double digits year-over-year in Q1.

• Debuted the "Let Yourself Run" marketing campaign starring Miley in late September.⁸

• Opened ten additional microstores throughout the U.S. since the beginning of Q1, bringing the total number of stores to 19.

• Voluntarily paid down $280 million of our Term Loan following the close of Q1. Gross principal debt outstanding following paydown is $1.048 billion, reflecting a decrease of 32% since the beginning of calendar year 2026 (down from $1.534 billion as of December 31, 2025).

Outlook

Below is our outlook for Q2 and Full Year fiscal 2027. We intend to provide further details on our outlook during today's earnings conference call.

* For a reconciliation of all non-GAAP financial measures to their most directly comparable GAAP financial measure, and rationale for why we rely on these measures, please see the reconciliation tables below. We are not able to provide a reconciliation of these non-GAAP financial measures on a forward-looking basis without unreasonable efforts due to the inherent difficulties in forecasting certain amounts that affect Net income (loss), Adjusted EBITDA, Net cash provided by (used in) operating activities, and Free Cash Flow, as discussed in further detail in the Non-GAAP Financial Measures section below.

1

Q2 FY27 Outlook

• Ending Paid Connected Fitness Subscriptions are expected to be in the range of 2.425 million to 2.445 million, representing a decrease of 226,000 or 9% year-over-year at the midpoint.

• Total Revenue is expected to be in the range of $625 million to $650 million, representing a decrease of $19 million or 3% year-over-year at the midpoint.⁹

• Total Gross Margin is expected to be approximately 50.0%, reflecting a decrease of 50 basis points year-over-year.

• Adjusted EBITDA is expected to be in the range of $85 million to $100 million, representing an increase of $11 million or 14% year-over-year at the midpoint.¹⁰

As Reported Q2 FY27 Range % Change (Midpoint)

Adjusted EBITDA (1)

$81.4 $167.8 $85.0 $100.0 14% (45)%

User Metrics (in millions)

Ending Paid Connected Fitness Subscriptions 2.661 2.475 2.425 2.445 (9)% (2)%

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(1) Please see the section titled "Non-GAAP Financial Measures—Adjusted EBITD