Research from Water Tower Research, Water Tower Research

Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Research from Water Tower Research

Equity Research Firm

Equity Bottom-Up

<div><ul><li>PTON reported 3QFY26 GAAP net income per share of $0.06, compared with a loss of ($0.12) in 3QFY25, marking another step in its profitability inflection and about in line with our $0.05 estimate and FactSet consensus of $0.07.</li><li>Management does not adjust EPS for one-time items, nor does it include EPS in its formal guidance framework.</li><li>Revenue increased 1% to $631MM, $6MM above the top end of the $605MM-625MM guidance range, primarily driven by outperformance in Connected Fitness equipment sales across both Peloton and Precor brands. </li></ul></div>

PTON reported 3QFY26 GAAP net income per share of $0.06, compared with a loss of ($0.12) in 3QFY25, marking another step in its profitability inflection and about in line with our $0.05 estimate and FactSet consensus of $0.07.Management does not adjust EPS for one-time items, nor does it include EPS in its formal guidance framework.Revenue increased 1% to $631MM, $6MM above the top end of the $605MM-625MM guidance range, primarily driven by outperformance in Connected Fitness equipment sales across both Peloton and Precor brands. 

PTON: Revenue Returns to Growth as Wellness Platform Transformation Gains Momentum

Peloton Interactive

PTON: Revenue Returns to Growth as Wellness Platform Transformation Gains Momentum