Photo by Amelia Holowaty Krales / The Verge
Peloton has dropped the price of its original Bike by $400, making it $1,495. This price reduction comes alongside the company’s 2021 financial earnings, which showed that the company grew less than expected, and lost more than it had predicted (via CNBC). The company reports that in the fourth quarter of its 2021 financial year, it had a net loss of just over $313 million.
While the company’s financial results certainly give it a reason to want to boost growth, this isn’t the original Peloton Bike’s first price drop. Its previous price point of $1,895 was the result of a price drop that happened alongside the introduction of the Bike Plus last September, which took it down from its original $2,245 price tag.