Peloton sees FY26 revenue $2.42B-$2.44B, consensus $2.43B

For FY26, Peloton (PTON) sees: Total Gross Margin outlook of approximately 52.5%, reflecting an increase of 160 bps year-over-year and a 50 bps decrease to our outlook provided last quarter. Adjusted EBITDA outlook of $470 million to $480 million, representing an increase of $71 million or 18% year-over-year at the midpoint and in-line with our outlook provided last quarter. Free Cash Flow expected to be in the vicinity of $350 million, an increase of $75 million from our minimum target provided last quarter. Ending Paid Connected Fitness Subscriptions is expected to be in the range of 2.55 million to 2.57 million, representing a decrease of 240,000 or 8.6% year-over-year at the midpoint.