Peloton plans to sell its huge plant in Ohio because of previous management's unjustified bet on pandemic demand. The project had a planned investment of $400 million and was scheduled to go into production in the fall of 2022.

Peloton Interactive's GAAP loss for 9 months of fiscal year 2022 was $1.572 billion, compared to a profit of $0.124 billion in the previous year. Revenue declined 5.9% to $2.903 billion from $3.085 billion a year earlier.

Peloton is exploring the possibility of selling 15% to 20% of the company. Negotiations with potential investors are at an early stage.

Peloton is lowering prices on Bike, Bike+ and Tread fitness equipment to attract new customers. In addition, the company is raising the subscription fee for Peloton all-access fitness content from $39 to $44 in the U.S. and from $49 to $55 in Canada.