Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

Peloton Interactive  / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/peloton-interactive-inc" target="_blank" data-smartkarma-citation="entities:28014:1" rel="noopener">Peloton Interactive (PTON US)</a> is getting ready for an IPO on the NASDAQ exchange in the next few weeks. Peloton is planning to raise nearly <a href="https://techcrunch.com/2019/08/27/peloton-files-publicly-for-ipo/" target="_blank" rel="noopener">$500 million</a> in this IPO.</p><p><strong>Going through the company's prospectus in detail, it appears that the company has many more negative concerns rather than positive prospects.</strong> The following are the major problems we see with the Peloton IPO:</p><ul>
<li><strong>Worsening cash flow &amp; inventory</strong></li>
<li><strong>Its customers are mainly upper-income U.S. households </strong></li>
<li>
<strong>W</strong><strong>here is the "network effect?"</strong>
</li>
<li><strong>Company has yet to face a serious recession</strong></li>
<li><strong>Facing big lawsuits from music publishers and artists</strong></li>
<li><strong>Lack of defensible business model</strong></li>
<li><strong>Lack of information about manufacturing operations</strong></li>
</ul>

Peloton Interactive (PTON US) is getting ready for an IPO on the NASDAQ exchange in the next few weeks. Peloton is planning to raise nearly $500 million in this IPO.Going through the company's prospectus in detail, it appears that the company has many more negative concerns rather than positive prospects. The following are the major problems we see with the Peloton IPO:
Worsening cash flow &amp; inventory
Its customers are mainly upper-income U.S. households 

Where is the "network effect?"

Company has yet to face a serious recession
Facing big lawsuits from music publishers and artists
Lack of defensible business model
Lack of information about manufacturing operations


IPO and L/S equity, 2015 Starmine top stock picker, Global Equity Research Ltd

Rickin Thakrar

IPO and L/S equity, 2015 Starmine top stock picker

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<p><a href="https://www.smartkarma.com/entities/peloton-cycle-inc" target="_blank" data-smartkarma-citation="entities:28014:1" rel="noopener">Peloton Cycle Inc (1512875D US)</a> , the much-anticipated 'fitness-tech' company, <a href="https://www.sec.gov/Archives/edgar/data/1639825/000119312519230923/d738839ds1.htm#rom738839_9" target="_blank" rel="noopener">has filed for a 500mn </a> USD IPO. We note a few points from the filing below </p><h2>Intro to Peloton</h2><h2>Peloton financials - robust growth rate, uneven profitability</h2><h2>Balance sheet and cash flow; getting rid of prefs with some cash burn</h2>

Peloton Cycle Inc (1512875D US) , the much-anticipated 'fitness-tech' company, has filed for a 500mn  USD IPO. We note a few points from the filing below Intro to PelotonPeloton financials - robust growth rate, uneven profitabilityBalance sheet and cash flow; getting rid of prefs with some cash burn

Peloton IPO Preview: Riding into Your Home

United States

Peloton Interactive, Inc. provides sporting apparels and products. The Company offers tops, bras, bottoms, watch bands, hats, bags, and workout bikes for indoor cycling products. Peloton Interactive serves customers worldwide.

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Peloton Interactive (PTON US)

Peloton Interactive IPO Preview

Peloton Interactive (PTON US) is getting ready for an IPO on the NASDAQ exchange in the next few weeks. Peloton is planning to raise nearly $500...

Douglas Kim

Peloton IPO Preview: Riding into Your Home

Peloton Cycle Inc (1512875D US) , the much-anticipated 'fitness-tech' company, has filed for a 500mn USD IPO. We note a few points from the filing...

Rickin Thakrar

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