Becker Business – "Peloton: Have the Wheels Come Off?" (8-19-25)
Main Theme Overview
In this episode of the Becker Business Podcast, host Scott Becker analyzes the current state of Peloton, questioning whether the company's strong comeback is losing momentum. He provides recent financial insights, industry context, and personal observations, setting the stage for a broader discussion about consumer trends and market resilience in post-pandemic business.
Key Discussion Points & Insights
1. Peloton’s Up-and-Down Journey
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Post-Covid Struggles
Scott notes that Peloton "went through a dreadful period of time post Covid," referencing the initial crash in demand after the home fitness boom faded. -
2024 Comeback
- The company "recovered a lot last year," benefitting from restructuring and renewed optimism.
- Shares are up "146% over the last 52 weeks" – a remarkable recovery in comparison to the struggles immediately after the pandemic.
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2025 Slowdown
- Despite the past year's gains, Peloton’s "growth is starting to slow again" in 2025.
- The stock is "down about 6% today and down about 8 and a half percent year to date," signaling market concerns over sustained growth.
2. Real-World Observations
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Scott injects a personal anecdote, referencing a Facebook post:
- "I just saw somebody post on Facebook they've got this long, long peloton streak going, but they must be the only person I know that's still on their peloton every single day." (00:41)
- This highlights both brand loyalty and a narrowing active user base, reinforcing questions about Peloton’s ongoing relevance.
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Product and Brand Perception
- Scott is careful to note: "Again, this is a knock on Peloton. Peloton, great program, great everything." (00:48)
- Despite concerns, he acknowledges product quality and the company’s positive attributes.
3. Market Value Perspective
- Current Market Cap
- Peloton’s market cap is "back about $3.2 billion. So respectable." (00:55)
- Provides market comparison, citing Nvidia at "$4.5 trillion" to emphasize the scale and differing trajectories within tech/fitness sectors.
4. Future Uncertainty
- Scott sums up Peloton’s future succinctly:
- "But it seems like maybe the wheels are starting to come off of Peloton."
- "We'll see how it goes." (01:12)
- Leaves the episode open-ended, inviting listeners to keep watching the company’s next moves.
Notable Quotes & Memorable Moments
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On Market Performance:
"It's down about 6% today and down about 8 and a half percent year to date. And that's after being up 146% over the last 52 weeks." (00:24)
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On User Engagement:
"I just saw somebody post on Facebook they've got this long, long peloton streak going, but they must be the only person I know that's still on their peloton every single day." (00:41)
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On Product Quality:
"Peloton, great program, great everything. But it seems like maybe the wheels are starting to come off of Peloton." (00:48)
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On Market Cap Comparison:
"Its market cap is back about 3.2 billion. So respectable. Obviously very different than the 4.5 trillion that Nvidia is at." (00:55)
Timestamps of Important Segments
- 00:00: Episode introduction and synopsis of Peloton’s post-Covid journey
- 00:24: Stock performance breakdown (recent drops and previous gains)
- 00:41: Personal anecdote on user engagement, observation of declining day-to-day active use
- 00:48: Affirmation of Peloton’s product quality; expression of concern over company trajectory
- 00:55: Discussion of current market cap and contextual comparison
- 01:12: Conclusion with open-ended outlook for Peloton
Episode Tone & Style
Scott Becker maintains an analytical yet conversational approach, blending business data with personal insight. He is objective but not pessimistic, giving credit to Peloton’s achievements while posing critical questions about future sustainability.
This concise episode offers listeners a clear snapshot of Peloton’s fluctuating fortunes within the larger landscape of post-pandemic business and public company trajectories.