Dana Woolman

But what, we're going to suddenly have a myriad of them at big gyms of scale?

Yeah, so I don't think people necessarily realize that Peloton acquired Precor, the big name in technology.

gym exercise equipment quite a few years ago, but it really only integrated them formally into a new business unit last year.

And so this is the byproduct of that Peloton getting into that business of gym equipment that really was designed for gyms, as opposed to the home, which, as the CEO Peter Stern teased today, would mean that the machines are a little more durable than what you might be used to.

Yes.

So the company is coming off of a really lackluster launch last fall.

It introduced new bikes, new treadmills, a new rowing machine, really betting big on AI across its lineup.

And so far, the sales have been pretty lackluster.

And so the company is just try trying again.

In addition to possibly rolling out new products in the next year, year and a half, which is quite a ways away, it is diversifying beyond home fitness into, as we said, locations like

the gym, sort of amping up on its existing commercial business.

And potentially, it hopes winning over more long-term customers by introducing people to the equipment in other settings beyond just getting them to invest in this really expensive gear for their living rooms.

Yes, absolutely.

As you said, the company was really high-flying during the pandemic when lockdowns really forced people to stay at home and do almost everything at home, including work out.

And so lockdowns, of course, eventually eased and gyms reopened.

And so Peloton is trying to find people where they are, including...

hotels, gyms, that sort of thing.