Peloton Slides 25% After Missing Q2 Revenue and Weak Guidance

Peloton Interactive (PTON) closed down 25.72% to $4.39 after Q2 results missed expectations and Q3 guidance disappointed. The company's sales slid 3%, earnings turned negative, and management's guidance for $2.42 billion of sales in 2026 came up shy of consensus. However, Peloton's gross margins rose 320 basis points, and it continued to generate cash with an FCF margin of 11%. The stock has fallen 83% since going public in 2019.