Why I am not worried about COVID on PTON

Someone emailed and asked me. I want to share this to the board.

Question:
Btw how do u feel about peloton right now? Arent u worried that with the vaccine it will have the same headwind as with zoom?

My edited reply:
I am not worried about Peloton because Covid just gave a slight boost to PTON. It’s not in the same scale as ZM. Take a look at PTON recent annualized QoQ growth rate vs previous annual growth rate. Annual revenue growth rate before COVID was very close to 100% per year. Annualized QoQ growth rate from last two quarters: 79% and 143%. They are not much a different than original growth rate of 100%. On top of this, PTON turned positive earnings two quarters in a row. That’s very nice. So PTON is doing really well now and will be well for a while.

On the other hand, COVID took Zoom to whole different level. QoQ growth rate was 100% two quarters in a row! You know what it means? 100% QoQ equals to 1500% annualized.

I guess people do not exercise more simply because of staying home while more likely to use video conferencing.

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