During Peloton’s Q3 FY2026 earnings call this week, CEO Peter Stern teased that new Peloton hardware is coming this fall with more on the way in the future.
Stern also gave some hints about what categories Peloton’s R&D investments are focused on.
In his prepared remarks at the start of the call, Stern said:
“Speaking of R&D, our work on producing new equipment in one of our existing modalities is progressing well, and I look forward to introducing some exciting new hardware and features to you this fall.”
Later in the call, an analyst asked Stern how Peloton plans to drive subscriber growth. Stern pointed directly to new product launches as the path forward. He said that would include lower cost products in existing categories (“more accessible in our existing categories”), as well as launching products in new categories.
Another analyst then pressed Stern for more specifics, asking whether the fall hardware might include strength equipment or a cheaper Tread. Stern declined to give specifics, but offered a few clues about Peloton’s thinking:
“With regard to the question that you had about our new equipment, for competitive reasons and because it’s an earnings call, not a big product reveal moment, I’m not going to comment specifically on our unannounced hardware today, but I’ll just elaborate a bit and say that, one, bringing more price accessibility in our existing modalities is a top priority for us. We have the ability to do this in the bike category because we’ve been able to take advantage of the large reservoir of refurb inventory that we have available to us, but we have not had a similar opportunity in our other categories. And so that’s really driving our R&D in that area.”
This question comes up as there are reports that Peloton is working on a lower cost Tread. Stern explicitly noted Peloton has been able to address price accessibility in the bike category through refurb inventory, but they haven’t done that for the Tread or Row categories. The Cross Training Tread starts at $3,295 and the Cross Training Tread+ starts at $6,695 – both significantly higher than what bike shoppers can find through refurbished options. While the focus is on the Tread, this could open the door for a lower cost Rower as well – as Peloton currently only has a “Row+” model available.
Stern also addressed potential products in strength and other categories – saying there may be multiple opportunities there:
“With regard to new modalities, I want to note that they do take a little longer because we’re building from the ground up. But as you mentioned, I will remind you that we’re already a leader in the strength category. We have roughly 2 million of our members engaging with strength every quarter. And we see an opportunity to broaden our equipment portfolio in that category, and I wouldn’t even view that as a singular opportunity. I think there are multiple opportunities for us to pursue that category, which we define as all forms of resistance training. So I hope that tides you over.”
He also expanded the framing beyond traditional strength training, defining the category as “all forms of resistance training.” Peloton’s previous standalone strength hardware was the Peloton Guide, which was discontinued last fall.
Stern’s comments build on what he said during the Q2 FY2026 earnings call back in February, when he said he expected “meaningful announcements” related to new products within the next 12 to 18 months. These comments narrow that timeline, with at least one product in an existing modality now seemingly confirmed for this fall.
You can read more about the Peloton Q3 earnings here.
What do you hope to see Peloton announce this fall?
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