Peloton Interactive, Inc. PTON shares are trading lower after the company reported fourth quarter earnings results and issued first quarter sales guidance.
Peloton reported fourth quarter net loss per share of $1.05, compared to a net income of $0.27 in the same period last year. The company also reported a loss in its fourth quarter adjusted EBITDA of $45.1 million compared to a gain of 143.6 million in the same period last year.
The company expects first quarter sales of approximately $800 million, which is below the $1.06 billion estimate.
Peloton also announced the upcoming 10-K filing will show identified material weakness in internal controls over financial reporting related to identification, valuation of inventory.
Peloton Interactive operates an interactive fitness platform. It operates its business in three reportable segments: Connected Fitness Products, Subscription, and Other.
Peloton's stock was trading about 9.5% lower at $103.19 per share Wednesday afternoon at the time of publication. The stock has a 52-week high of $171.09 and a 52-week low of $68.06.
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