Peloton Introduces Rowing Machine As Part Of Restructuring Process

(RTTNews) - Fitness products maker Peleton (PTON) is adding rowing machines to its line up as the company is going through a restructuring to expand its customer base and return to a profit.

The company said on Tuesday that it's launching Peloton Row, which starts at $3,195 and is now available for pre-order on its website. Deliveries are expected to start in December.

The rowing machine, which also requires a $44-a-month membership to Peloton's exercise classes and programs, joins the lineup of Peloton Bike, Peloton Bike+, Peloton Tread and Peloton Guide, a training system that uses a camera to track a person's movements.

Last month, the company had reported higher losses and declining sales for its fiscal fourth quarter, thus making this the sixth consecutive quarter of losses. The company said that it will reach break-even cash flow on a quarterly basis in the second half of fiscal 2023.

The company had also earlier announced it partnered up with Amazon Inc. (AMZN) to sell its products, a move, which could help Peloton expand its customer base. The partnership is Peloton's first step outside its core direct-to-consumer business. Peloton has also brought about changes to its leadership as part of the restructuring process. Last week, the company said that co-founder and former CEO John Foley, co-founder and Chief Legal Officer Hisao Kushi and Chief Commercial Officer Kevin Cornils would be stepping down from their posts.