Peloton, the well-funded maker of internet-connected stationary bikes and treadmills, has lastly revealed paperwork for its upcoming preliminary public providing. The enterprise beforehand submitted a confidential draft submission of its S-1 assertion to the U.S. Securities and Change Fee in June.
The New York-based firm, which plans to boost $500 million in its Nasdaq providing, will commerce underneath the ticker image PTON.
Peloton reported $915 million in whole income for the 12 months ending June 30, 2019, a rise of 110% from $435 million in fiscal 2018 and $218.6 million in 2017. Its losses, in the meantime, hit $245.7 million in 2019, up considerably from a reported web lack of $47.9 million final 12 months.
The corporate has reached 1.four million whole group members, outlined as any particular person who has a Peloton account.
Peloton clients subscribe to the corporate’s digital library of health content material, streamed stay and on-demand, for $39 per 30 days, along with buying its hardware, which prices $2,200 to $four,295 apiece. The corporate says 58 million exercises have been accomplished by Peloton customers in fiscal 2019, whereas its paying subscriber base reached an all-time excessive of 511,202.
As for subscription income, Peloton stories $181 million for fiscal 2019, up from $80 million final 12 months.
Envisioning a world by which 67 million households personal linked health gear, Peloton co-founder and chief govt officer John Foley writes within the S-1 that “Peloton sells happiness.”
“Peloton is a lot greater than a Bike — we imagine we’ve the chance to create one of the crucial progressive world expertise platforms of our time,” writes Foley. “It is a chance to create one of the crucial vital and influential interactive media firms on the earth; a media firm that adjustments lives, conjures up greatness, and unites individuals.”
Peloton, based in 2012, raised $550 million in enterprise capital funding final 12 months at a valuation of $four.15 billion. The startup, which initially struggled enormously to persuade enterprise capitalists of its imaginative and prescient, has since impressed a brand new wave of health tech firms to launch, together with a sensible mirror firm appropriately named “Mirror.”
In whole, Peloton has raised $994 million in enterprise capital funding, in line with PitchBook. Its S-1 submitting lists CP Interactive Health (5.four% pre-IPO stake) — an entity linked to the non-public fairness agency Catterton — TCV (6.7%), Tiger International (19.eight%), True Ventures (12%) and Constancy Investments (6.eight%) as principal stakeholders, or traders with not less than a 5% stake within the firm.
Goldman Sachs & Co. and J.P. Morgan Securities are managing the IPO as lead underwriters.