Zimmer MedizinSysteme GmbH / icelab
Zimmer MedizinSysteme GmbH / icelab
Zimmer MedizinSysteme GmbH / icelab
Health Club Management

Health Club Management

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Health Club Management

Health Club Management

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Peloton CEO John Foley says he finds company's falling share price baffling

Peloton co-founder and CEO John Foley has admitted that he is baffled as to why shares in the company have "gone backwards" since its IPO in September.

The company's share price has fallen 14 per cent from its initial value since the company listed on the US-based NASDAQ on 26 September.

The shares took a further hit on 5 November – the day it released its first quarterly results – trading as much as 9.5 per cent lower. Shares in the company are currently valued at around US$23.50 – considerably lower than the IPO price of US$29.

Speaking to financial news service CNBC, Foley said the slide in the share price "is a bit of a head scratcher".

"We had triple-digit topline growth and single-digit EBITDA loss – and narrowing losses – in a climate that people want profitability.

"For us, profitability is a managed outcome – we could pull back on growth and become profitable tomorrow." (To see the interview with John Foley in full, click here).

Peloton has become the latest in a long list of tech-oriented start-ups to have experienced a lack-lustre IPO in recent times. Others include peer-to-peer ridesharing firms Uber and Lyft.

According to data from Bloomberg, Peloton's IPO marks the third-worst trading debut in 10 years in the US for companies that have raised at least US$1bn.

The company is still, however, valued at US$7.2bn.

Peloton was founded in 2012 by John Foley, Tom Cortese, Hisao Kushi, Yony Feng and Graham Stanton.

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News

Peloton CEO John Foley says he finds company's falling share price baffling

Peloton co-founder and CEO John Foley has admitted that he is baffled as to why shares in the company have "gone backwards" since its IPO in September.

The company's share price has fallen 14 per cent from its initial value since the company listed on the US-based NASDAQ on 26 September.

The shares took a further hit on 5 November – the day it released its first quarterly results – trading as much as 9.5 per cent lower. Shares in the company are currently valued at around US$23.50 – considerably lower than the IPO price of US$29.

Speaking to financial news service CNBC, Foley said the slide in the share price "is a bit of a head scratcher".

"We had triple-digit topline growth and single-digit EBITDA loss – and narrowing losses – in a climate that people want profitability.

"For us, profitability is a managed outcome – we could pull back on growth and become profitable tomorrow." (To see the interview with John Foley in full, click here).

Peloton has become the latest in a long list of tech-oriented start-ups to have experienced a lack-lustre IPO in recent times. Others include peer-to-peer ridesharing firms Uber and Lyft.

According to data from Bloomberg, Peloton's IPO marks the third-worst trading debut in 10 years in the US for companies that have raised at least US$1bn.

The company is still, however, valued at US$7.2bn.

Peloton was founded in 2012 by John Foley, Tom Cortese, Hisao Kushi, Yony Feng and Graham Stanton.

Sign up for FREE ezines & magazines
Related news

Peloton's IPO doesn't go to plan – but company still valued at US$7.2bn

01 Oct 2019
Shares in Peloton have fallen 14 per cent below their initial value since the company ...

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News

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Group exercise
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Supplier showcase
Pulse Fitness has installed a premium fitness facility at The University of Liverpool, fitting the space with its state-of-the-art equipment to appeal to staff and students alike
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Gita Sjahrir

Founder, R-FITNESS
We became the first boutique fitness brand in all of Southeast Asia to ever raise venture capital backing. This was positive for the industry as it signalled that the industry had growth potential
People
HCM people

José Teixeira

SC Fitness, Portugal: head of customer experience
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Boxing training can be transferred onto any other sport, as it helps mindset, agility, power, recovery, fitness and strength
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People know yoga, Pilates, HIIT and Barry’s Bootcamp, but many don’t know vibration training and it’s my intention, passion and purpose to make it available and bring it to the world
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Our first trial was in a beer fridge, the second was in an ice factory in Pennsylvania. And after seeing first hand the impact that cooler temperatures made on the fitness experience, we both realized that we were truly onto something much bigger than what we had anticipated - Johnny Adamic, co-founder of Brrrn
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POST YOUR JOB
Featured supplier news
Featured supplier: Who does your brand belong to?
Who does your brand belong to? There used to be only one answer to this question: the company that grew it and invested in it.
Featured supplier news
Featured supplier: Harlands Effect: Make Your Business More Profitable
Harlands Group is a membership management service for health and fitness operators, which interacts directly with members to effectively manage membership payments.
Video Gallery
DFC: We do more...
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DFC are a leading direct debit collection company, providing cash flow solutions to happy clients from all over the UK. Read more
More videos:
Company profiles
Company profile: EZ-Runner Systems Ltd
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Company profile: Incorpore Ltd
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Catalogue Gallery
Click on a catalogue to view it online
Directory
Locking solutions
Ojmar: Locking solutions
Whole body cryotherapy
Zimmer MedizinSysteme GmbH / icelab: Whole body cryotherapy
Skincare
Sothys: Skincare
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Zimmer MedizinSysteme GmbH / icelab
Zimmer MedizinSysteme GmbH / icelab