Peloton’s gamble on expensive new hardware has yet to pay off

Last fall, new Peloton CEO Peter Stern made a bet. The company announced a complete refresh of its entire hardware lineup, complete with swivel screens and AI-powered features. Today, the initial results of Stern's bet are in. In its Q2 2026 earnings call, Stern noted that the hardware refresh hasn't landed with existing Peloton users, […]