Tag: Peloton burns cash and borrows like crazy to stay afloat – CNN

  • Peloton burn cash and borrow like crazy to stay afloat

    The once-hit company released a dismal quarterly financial report on Tuesday, with sales down 15% from a year ago. Peloton lost $757 million last quarter. Platoon (PTON) said it only had $879 million in cash in the bank at the end of the quarter, which left it “thinly capitalized,” CEO Barry McCarthy said. This forced […]

  • Peloton burn cash and borrow like crazy to stay afloat

    The once-hit company released a dismal quarterly financial report on Tuesday, with sales down 15% from a year ago. Peloton lost $757 million last quarter. Platoon (PTON) said it only had $879 million in cash in the bank at the end of the quarter, which left it “thinly capitalized,” CEO Barry McCarthy said. This forced […]