• Peloton, an equipment manufacturer of connected bikes, treadmills, and fitness mirrors, announced its plans to launch a connected rower during its Homecoming event. 

• The company disclosed features such as a standard resistance cable and a large display to view its virtual workout contents on the rower; however, it fell short of revealing its price or time of release. 

• Along with its new product tease, Peloton released new fitness programs and added new product-related features such as scheduling workouts with friends and tracking exercises out of Peloton’s collection of workout content.

<ul><li> Analyst QuickTake: Peloton’s launch announcements come the week of its Q3 earnings release , where it reported declining revenues and losses that significantly overshot analyst estimates. The launch of new fitness programs and other services is in line with the company’s shift toward its fitness-as-service (FaaS) strategy that combines the cost of connected fitness equipment and its subscription service into a single monthly fee. Revenue from this segment grew over 54% year-over-year during the last quarter.</ul>