On August 6, Peloton Interactive (NASDAQ:PTON) reported results for its fiscal fourth quarter and full year ended June 30, and the headline number is one the company has chased for years: a full year of positive net income. Total revenue for fiscal 2026 came in at $2.446 billion, and quarterly revenue of $608 million ticked up $1 million from a year earlier. The bigger story sits beneath the top line, in a business that finally converted cost cuts into cash while its subscriber base kept shrinking.
Fiscal 2026 marked the first time in Peloton's history that the company posted positive net income and operating income for a full year, with GAAP net income landing at $63 million. Adjusted EBITDA rose 16% year over year to $468 million, even after absorbing a $23.8 million nonrecurring legal accrual tied to patent litigation in the fourth quarter. Free cash flow climbed to $378 million, up $54 million, and management used that cash to cut net debt by 80% to just $93 million from $459 million a year earlier. CEO Peter Stern credited the turnaround to an improved revenue trajectory paired with cost restructuring, and the company said it exceeded its own target of more than $100 million in run-rate savings by the end of the fiscal year.
Growth is showing up outside the core bike and treadmill business too. The Commercial Business Unit grew revenue by double digits for the year, Peloton expanded its digital footprint through a partnership with Spotify, and it closed the acquisition of Skōp to push further into connected Pilates. Microstores beat their internal sales goals as an efficient in-person retail channel, and Peloton plans to double that store fleet in fiscal 2027. New training programs also drove engagement, with the Pace Your Race Marathon Training Program and a Live Spring Cross-Training Plan generating more than 850,000 completed workouts in the fourth quarter alone.
The profitability story cannot hide what is happening to the customer base. Ending Paid Connected Fitness Subscriptions fell 8.8% year over year to 2.553 million, and monthly churn rose to 2.2% in the fourth quarter from 1.8% a year earlier. Hardware sales are choppy too. Connected Fitness Products revenue dropped 14% year over year in the quarter to $171 million, and gross margin on that hardware segment swung to 13.4% from 17.3% a year ago before recovering some ground quarter over quarter. Peloton's own guidance signals the subscriber slide is not over.

#year #revenue #fourth #connected

As one of the most important investors of our time, David Einhorn is a legend on Wall Street that many investors pay close attention to, and for good reason. I'm one such investor who follows the 13-F filings of Einhorn's DME Capital Management, and when there's a big move, I want to dive in. In addition to adding stakes in Warner Bros. Discovery (WBD), PayPal (PYPL) and Fortune Brands (FBIN) during the second quarter, Einhorn completely exited his position in Peloton (PTON) in Q2.
Let's dive into what may be behind this move, and what investors should make of Peloton moving forward.
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#peloton #billion #dive

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) fell 1.3% on August 18 as Klarna plunged more than 22% after reducing its 2026 volume and revenue forecasts. Klarna now expects full-year gross merchandise volume of $149 billion-$151 billion, down from more than $155 billion, and revenue of $4.08 billion-$4.16 billion, down from $4.34 billion. Yet the warning was not cleanly industrywide. Klarna's second-quarter revenue increased 27%, overall volume rose 18%, and U.S. volume grew 27%. Management tied the weaker outlook primarily to soft German retail conditions, while currency translation reduced projected volume by approximately $600 million. Affirm shares rebounded 5.1% the next session. For Affirm Holdings, Inc. (NASDAQ:AFRM), the August 27 earnings report must show whether the initial decline reflected a broader consumer-credit warning or an opportunity to capture share from a slowing competitor.
Affirm Holdings, Inc. (NASDAQ:AFRM) enters the report with stronger momentum than Klarna's guidance might suggest. Fiscal third-quarter gross merchandise volume increased 35% to $11.6 billion, while revenue rose 33% to $1.04 billion. Active consumers grew 22% to 26.8 million, and active merchants increased 44% to 515,000.
The strongest argument for Affirm Holdings, Inc. (NASDAQ:AFRM) is that its growth is spreading beyond the online checkout ****** on. Affirm Card volume jumped 146% to $2.1 billion, while active cardholders more than doubled to 4.4 million. Direct-to-consumer volume increased 48%, and wallet and software partnerships helped expand the merchant network.
Affirm Holdings, Inc. (NASDAQ:AFRM) also has substantial funding capacity to support further share gains. Capacity reached $28.2 billion in March, up from $23.3 billion a year earlier, while the average annualized cost of funds declined 126 basis points to 5.8%. The company estimated that its funding arrangements could support more than $65 billion of annual volume. If Klarna prioritizes profitability over aggressive near-term growth, as some ****** ysts inferred, the slower volume outlook could create room for Affirm without requiring the company to strain its balance sheet.
Affirm Holdings, Inc. (NASDAQ:AFRM) remains exposed to the same consumer and financing pressures affecting the broader BNPL category. The 30-plus-day delinquency rate on monthly installment loans, excluding Peloton and Pay in X, increased 29 basis points year over year to 2.8%. The allowance for credit losses rose to 6.0% of loans held for investment from 5.7% a year earlier.

#NASDAQ #year #increased #klarna

Karen Boone, a director at Peloton Interactive, Inc. (NASDAQ:PTON), sold 25,000 shares of Class A Common Stock on August 17, according to an SEC Form 4 filing.
Metric
Value
Transaction value
$134,000

#boone #interactive #class

Coco Jones and Donovan Mitchell tied the knot on August 1.
On August 9, the Cleveland Cavaliers star shared a glimpse into how they're enjoying their honeymoon: exercising on a yacht.
In a clip shared to Mitchell's Instagram Story, Jones ran on a treadmill, while he opted for a Peloton workout.
Nearly two weeks after Coco Jones, 28, and Donovan Mitchell, 29, tied the knot on August 1, the couple is sharing a glimpse into how they're enjoying their honeymoon.
Donovan Mitchell and Coco Jones at the US Open on August 29, 2025.
Credit: Getty Images

#glimpse

With 16km to go on the final stage of the Tour de France Femmes, Demi Vollering took off. The Dutchwoman timed her moment to perfection, attacking with 600m to go on the final of four ascents of the Col d'Eze, with Kasia Niewiadoma unable to cling on to her wheel. As she barrelled up the remnants of the climb and then down the descent towards Nice Vollering converted her minuscule eight-second advantage over the Pole to a minute and 18 seconds, with time to slow down before the line, soak in the moment, and lift her bike triumphantly overhead.
After nine days of agonisingly close racing, with momentum swinging this way and that, this was a tour de force by the sport's premier stage racer, the deserving first winner of a landmark second Tour de France Femmes **** le. "Impériale," was the verdict on L'Equipe's front page.
Vollering celebrated with her teammates after winning three stages and the overall (Reuters)
It was a fitting end to a resounding success of a Tour – dramatic, cathartic, and magnified by moments of individual virtuosity. This year's Tour de France Femmes has been an enormous coup for race director Marion Rousse, and for the sport generally. The Classics-style parcours, where nearly every day has resembled the most intense one-day races, coupled with the dynamics of the peloton and the fact that there are multiple evenly-matched teams rather than one all-conquering super-team, has made for an unpredictable and volatile race.
The fact that no singular team can entirely control proceedings has made for genuine jeopardy over whether breakaways will be brought back or able to seize their moment of glory – best emphasised by the heroics of Sigrid Haugset on stage three. The attacking, all-out nature of the racing, from Niewiadoma's raid on Mont Ventoux to her team's attempts to dislodge Vollering on stage nine, with Vollering responding with a devastating attack of her own, has made for thrilling viewing.

#vollering #tour #france #made

The Tour de France Femmes begins on Saturday with possibly the most difficult route yet for women's cycling's flagship race.
This year the peloton will tackle the infamous Mont Ventoux on a gruelling stage seven, the queen stage of the nine-day race, but the battle for the general classification could go right down to the wire with four summits of the Col d'Eze, outside Nice, crammed into less than 100km in an explosive final stage.
Dutchwoman and 2023 champion Demi Vollering is arguably the favourite to regain her crown but will face fierce competition from reigning champion Pauline Ferrand-Prevot, who has had a mixed season but with everything building towards her **** le defence, and 2024 winner Kasia Niewiadoma-Phinney, who has finished on the podium in every edition.
Elsewhere Britain's Zoe Backstedt is one of the favourites to take a maiden stage win on stage four's individual time trial, as the 21-year-old makes her Tour de France debut.
Here's everything you need to know to watch the race.

#race #france #femmes

The 2026 Tour de France will meet the famous 21 hairpins of Alpe d’Huez on Friday, in the first of two back-to-back days scaling the famous peak. But it is the second journey, up the lesser travelled Col de Sarenne, which has provoked protest, a petition and criticism of race organisers.
The route for this year’s Tour was announced at a Paris ceremony last October. Saturday’s stage 20 immediately stood out, partly as a rare double ascent of Alpe d’Huez, perhaps the most famous mountain in Tour de France lore; and partly because the stage is brutal in its own right. It features 5,000m of elevation gain over four Tour behemoths: the Croix de Fer, the Col du Telegraphe, Col du Galibier, and finally the Col de Sarenne – the eastern back road up the Alpe – before an undulating final 14km to the finish, via the final four hairpins of the traditional route.
The Col de Sarenne is an unusual pass for the Tour to tackle. This is the first time it has been used as an ascent, after it was used once as a descent in 2013. The debate back then was about rider safety, with sheer drops either side of the narrow, uneven path near the top, and hay bales were hastily planted along the road’s edge to protect a disgruntled peloton.
Ahead of this year’s return to the Col de Sarenne, environmentalists have led protests against race organiser ASO and its decision to send the world’s biggest bike race over the Sarenne pass in the Ferrand Valley, part of Ecrins National Park and an ecologically sensitive area.
A petition which garnered more than 15,000 signatures called for the stage to be re-routed away from the “beautiful and wild” area, which the petition stresses is home to numerous animals including stoats, marmots, foxes, chamois, eagles, bearded vultures, ptarmigan, rock partridges and the rare black grouse, whose chicks hatch in July.

#france #huez

The day before the Tour's first rest stage proved to be a highly charged rollercoaster. As overall leader, Tadej Pogacar chose who would be allowed in the breakaway and who would not, the worn out peloton was ready for the day to be over.
The unbearable heat matched with the speed of both the breakaway and peloton proved every rider was ready to wrap this day up early. From Malemort to Ussel, the hills were calm compared to the intensity of the riders.
At one thrilling point, Tom Pidcock's gears broke on him in the breakaway. After a few swift kicks, the gears were fixed, and he was back with the leaders.
The final breakaway included the likes of Mathieu Van Der Poel, Tobias Johannessen, Tom Pidcock, and Alex Baudin. The peloton nipped at their heels the entire day. So much so, the peloton filled with the leaders, finished 6 seconds behind today's stage winner.
As they approached the final turn, no one would dare challenge MVDP. Sure enough, he held off not only his breakaway group, but the entire peloton as Fillipo Ganna hauled the rest of the cyclists behind him.

With the first 9 stages coming without a break, Stage 8 has the boys tired and resting their legs. The peloton is especially tired knowing day 9, the final stage before the first rest day, has some fun hills. Evaluating their effort levels today, it's clear the juice is not worth the squeeze as quoted by former American cyclist, and now NBC reporter, Christian Vande Velde.
Liam Slock of Lotto Intermarché led this race 179km of 180km's. In heartbreaking fashion, the peloton overtook him with one goal in mind. Each team yearning to send their sprinter to the line first.
With the final right hand turn, every team raised things up a notch. With teams scratching to send their men to the front, Alpecin-Premier Tech set up their point man Jasper Philipsen with nothing but clean air.
Instead of taking advantage of the clean air, it was for at least this year once again, proven that it is better to be fast than to have a great lead out. With a couple scrappy sprinters like Tim Merlier and Biniam Girmay acting as free agents in today's leadout, it showed the good sprinters pace themselves from the back. They stole the perfect slipstreams to pass by Jasper Philipsen and Olav Kooij, who were perfectly set up for the win.
Usually, sprinters pop onto the scene and disappear as quickly as they came. Tim Merlier however, is 33 years old, and only getting better. Is he an anomaly, or proof that developing talent pays off?

Dutch rider Olav Kooij won the fifth stage of the Tour de France in a sprint finish on Wednesday, while Norwegian rider Torstein Traeen kept the yellow jersey on a day when the peloton largely took it easy.
Tour contender Jonas Vingegaard, however, finished on teammate Victor Campenaerts' bike after a late crash in the peloton, which included defending champion Tadej Pogacar.
Kooij, meanwhile, was put in a strong position to attack by his Decathlon CMA CGM teammates and held off German Max Kanter and Belgian Tim Merlier in a dash to the line. They all finished in just under three and a half hours.
“After a couple of hard days here, I had to wait for this day to get (a) first chance to sprint in the Tour and to immediately win is unbelievable,” the 24-year-old Kooij said.
“It was quite an easy day until the final (moments), when you know it will be hectic. Everyone is still really eager and I just managed to find my way.”

PAU, France (AP) — Dutch rider Olav Kooij won the fifth stage of the Tour de France in a sprint finish on Wednesday, while Norwegian rider Torstein Traeen kept the yellow jersey on a day when the peloton largely took it easy.
Kooij was put in a strong position to attack by his Decathlon CMA CGM teammates and held off German Max Kanter and Belgian Tim Merlier in a dash to the line. They all finished in just under 3 1/2 hours.
Traeen rolled over the line 14 seconds later in a big main group containing defending champion Tadej Pogacar and fellow Tour contender Jonas Vingegaard. They both trail Traeen by about eight minutes in the standings. But Traeen, who took the yellow jersey on Stage 4, is not considered a contender for overall victory.
After a testing team time trial, an early mountain stage, raging wildfires and sweltering temperatures hitting 38 degrees Celsius (100 Fahrenheit), riders appreciated Wednesday's flatter fifth stage.
The 158.3-kilometer route from Lannemezan to Pau in southwestern France was made for sprinters.

Mads Pedersen sprinted clear from a breakaway to win the fourth stage of the Tour de France as defending champion Tadej Pogacar lost the yellow jersey and slipped to fourth.
Dane Pedersen timed his run for the line at the end of the 181.9km stage to perfection as temperatures reached 40C in southern France.
Uno-X Mobility rider Torstein Traeen is the new race leader after finishing eighth in the stage - almost 13 minutes ahead of the peloton.
Pedersen's Lidl-Trek team-mate ⁠Quinn Simmons ‌was second on the road, as the route took the riders from Carcassonne to Foix, with Movistar's Raul Garcia Pierna third.
Four-time champion Pogacar - who loses the yellow jersey after just one day for the third year in a row - was 33rd in the stage and trails the new leader by seven minutes 53 seconds.

LES ANGLES, France (AP) — A large wildfire in the south of France prompted Tour de France organizers to ban fans from attending the finale of the third stage of cycling's showpiece race on Monday.
After a couple of days in Spain, the race enters France with a stage to the Pyrenees town of Les Angles, about 60 kilometers (37 miles) from a fire that has burned almost 4,000 acres of land.
"The exceptionally large wildfire currently raging in the Pyrénées-Orientales is requiring a massive mobilization of wildfire-fighting resources, internal security forces, and all government agencies," Tour de France organizers said. "The top priority remains the protection of people, property, and natural areas, as well as bringing the fire under control."
As a result, organizers decided that once the peloton reaches France for the last 40 kilometers, the publicity caravan — a 10-kilometer-long procession of sponsor vehicles that precedes the race — will not operate. Only riders and vehicles essential to the race will be allowed on the route, and spectators have been asked not to gather on the roadside or at the finish area.
Stage 3 started from the Spanish town of Granollers, where temperatures reached around 35 degrees Celsius, race organizers said, quoting the Spanish Meteorological Agency. It features a 9.3-kilometer (5.8-mile) ascent up Col de Toses at an average gradient of 6.5%. The climb is ranked as Category 1, the second-hardest level behind Hors Categorie (which means beyond classification).

Peloton Interactive (NASDAQ: PTON) currently trades 96% below its all-time high (as of June 30), a record set all the way back in January 2021. However, the consumer discretionary stock has recently started to pedal in the right direction. It's up 34% in the past three months.
Has Peloton, an innovator in the fitness market, finally started to turn the corner in a sustainable way?
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During the most recent fiscal quarter (Q3 2026, ended March 31), the company reported $26.4 million in net income and $150.5 million in free cash flow. Its profitability has been improving thanks to cost cuts.
Additionally, Peloton's net debt declined 70% year over year. Investors appreciate the business operating from a sounder financial position.