By Elias Schisgall

Peloton's revenue fell in the fiscal second quarter on falling subscription numbers as the company projected further declines going into the third quarter.

The maker of electric bikes also said Thursday that Chief Financial Officer Liz Coddington was leaving to pursue an opportunity outside the industry. The company said Coddington will stay at Peloton through March, and that it had launched a search for her successor.

Peloton reported a loss of $38.8 million, or 9 cents a share, compared with a loss of $92 million, or 24 cents a share, a year earlier. Analysts polled by FactSet were expecting a loss of 5 cents a share.

Revenue fell to 656.5 million, down from $673.9 million a year prior. Analysts were expecting $675.6 million in revenue.

Subscription revenue came in at $412.6 million, down from $420.6 million a year earlier. Fitness products revenue fell to $243.9 million from $253.4 million.

Peloton ended the quarter with 2.7 million paid connected fitness subscriptions, a 7% decline from 2.9 million a year ago.

For the current third quarter, the company expects subscriptions to fall to between 2.65 million and 2.68 million. It is projecting revenue of between $605 million and $625 million, a 1% year-over-year decline at the midpoint.

Analysts are expecting third-quarter revenue of $637.9 million.

Peloton is projecting full fiscal year revenue of between $2.40 billion and $2.44 billion, representing a 3% decline at the midpoint. Analysts were expecting $2.48 billion.

Pelton shares slid 11% in pre-market trading Thursday.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

February 05, 2026 07:22 ET (12:22 GMT)

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