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Peloton's "Epic Comeback" Comes With Major Caveats

Peloton's "Epic Comeback" Comes With Major Caveats

Nine months ago, connected fitness company Peloton (NASDAQ: PTON) was burning through cash at an alarming rate. In the third quarter of fiscal 2022, Peloton reported a free-cash-flow loss of nearly $750 million. The situation has improved since then, but investors should be careful to take the pronouncements of CEO Barry McCarthy at face value.