Peloton Interactive Inc (NASDAQ:PTON) Q4 2020 Earnings Conference Call - Final Transcript

Sep 10, 2020 • 05:00 pm ET

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Peloton Interactive Inc (NASDAQ:PTON) Q4 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Peter Stabler

Good afternoon. And welcome to Peloton's Fourth Quarter and Fiscal 2020 Year End Earnings Conference Call. Joining today's call are John Foley, our Co-Founder and CEO; President, William Lynch; and CFO, Jill Woodworth. Our comments and responses to your question reflect the management's views as of today only and will include statements related to our business that our forward-looking statements under Federal Securities Law.

Actual results may differ materially from those contained and or implied by these forward-looking statements due to risks and uncertainties associated with our business. For discussion of the material risks and other important factors that could impact our actual results please refer to our SEC filings in today's shareholder letter, both of which can be found on our Investor Relations website. During this call, we will discuss both GAAP and non-GAAP financial measures. A reconciliation on GAAP to non-GAAP financial measures is provided in today's shareholder letter.

Lastly, I want to remind everyone that we'd be hosting a virtual investor and analyst session next Tuesday at 1:00 PM Eastern. You can find the details on our IR website. We hope you can join us.

And with that, I'll turn the call over to John.

Executive
John Foley

Thanks, Peter. Hi, everyone. Thanks for joining us to discuss our fourth quarter and full fiscal year results. What a remarkable year it's been. We're saddened that a global pandemic continues to wreak enormous havoc prematurely claiming so many lives and bringing profound hardship to millions of others, but we remain hopeful that human ingenuity will be able to reign in this plague before too much more suffering occurs. We profoundly thank our frontline healthcare workers and other essential workers continuing to keep us healthy and safe.

This year has also brought back into focus long-standing societal injustices ingrained in our communities. From Peloton's beginnings, we've endeavored to create an inclusive and supportive workplace and community for everyone, but self-reflection in the wake of this year's tragic events led us to believe we can and must do more. Peloton is committed to being an anti-racist organization, and to help achieve that goal we have made a $100 million commitment over the next four years across internal and external initiatives to fight racial injustice, and inequity, and promote health and well-being for all.

I'm incredibly proud of the hard work of all Peloton team members. It has been another staggering year of growth, and I know all parts of the organization have had to work together to do everything possible to meet the incredible demand for our products and services. The strong tailwind we experienced in March as the COVID-19 pandemic took hold has continued to propel demand for our products into the fourth quarter and first couple of months of Q1 fiscal year 2021. Organic demand for our bike remains strong, and member engagement remains elevated despite improving weather and the gradual reopening of the brick and mortar fitness locations. With the unexpected continuation of these elevated sales trends, our teams have continued