Time may be running out for Peloton Interactive.
The exercise-bike maker reported a massive quarterly loss and warned it is “thinly capitalized,” or short on cash. Peloton’s stock price fell by 18% early Tuesday, and the fallen star has lost 90% of its value in the past 18 months as people return to their pre-pandemic exercise habits.
“Notwithstanding the stock price,” CEO Barry McCarthy said he’s “pretty optimistic” about the future.
“I don’t mean to sound Pollyannaish,” he said on a conference call in which he said Peloton aims to generate positive free cash flow in fiscal 2023.
To buy some time, the Midtown-based outfit said it
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