Peloton (PTON) has given the first glimpse of its long-anticipated rowing machine.
The rowing machine was revealed during the company’s annual Homecoming member event by Peloton instructor Adrian Williams on Friday in a Twitter post, who called the machine a “game-changer.”
— Peloton (@onepeloton)
While Peloton did not reveal the cost of the rowing machine, its release date, or its official name, the company did say it was “coming soon.”
Peloton also produces connected fitness equipment, including the Bike, Bike Plus, and Tread, which range in price from about $1,200 to $2,400.
In a blog post, the company said, “The rumors are true - Peloton will be bringing its best-in-class fitness experience to the world of rowing! Combining cardio and strength - Peloton is excited to add this total body workout into its powerhouse arsenal of content and grow its connected fitness portfolio with even more options for engaging and challenging workout experiences.”
Speculation that Peloton was going to add a rowing machine to its fitness equipment line has been swirling since 2020 when Bloomberg reported that the company was in development with a machine.
The news of the rowing machine comes as Peloton suffered a particularly enduring week as it reported less than stellar third-quarter earnings on Tuesday, sending its stock down 20% to an all-time record low, according to Business Insider.
As of Friday at 1:27 p.m. ET, shares of Peloton were trading at $15.44, up $1.82, or 13.40%.
A Peloton logo is seen after the ringing of the opening bell for the company's IPO at the Nasdaq Market site in New York City, New York, U.S., September 26, 2019. Photo: Reuters / SHANNON STAPLETON
