Earlier this month, Peloton ($PTON) reported impressive earnings for the fiscal third quarter. The company’s sales surged 66% from a year ago to $524.6 million, as gyms closed and people were forced to adapt their fitness routine to quarantine. Peloton, which sells interactive AI stationary bikes and treadmills, held its largest class ever in April, counting more than 23,000 streams. But the company might have a hard time maintaining momentum.
Peloton announced it would “pause live production” in the London and New York studios after an employee tested positive for Coronavirus a few months ago. The plan is to set instructors up so they can stream classes live from their homes. Peloton seems to be developing a new model to accommodate consumers’ altered lifestyles. And, according to hiring data, the company is recruiting new talent to do so.
Since the beginning of March, Peloton’s LinkedIn employee headcount has increased by 9%, while job postings grew by 42%. Departments with the most open positions include Field Operations, Retail, Operations & Logistics, Product Engineering, Creative, and Hardware.
But will people continue to dole out thousands for Peloton’s workout equipment (plus the monthly subscription fee) if they have to wait for new content? The company’s Facebook mentions peaked last month at 97,400, but have since plummeted 80%.
Peloton’s Facebook ‘talking about’ count has been crawling downward since the peak, compared to the healthy buzz surrounding the fitness company over the winter. Looks like Peloton might need another viral commercial.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales, and app ratings - and creates data sets that measure factors like hiring, revenue, and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
