The struggling connected fitness company came within a whisker of breakeven in its fiscal first quarter ended Sep. 30, losing just $0.9 million against a loss of $159.3 million a year ago, as total revenues slipped 2% to $586.0 million from $595.5 million. Slashing costs below the line drove the improvement in profitability. Total operating expenses were cut by 30% to $291.2 million from $417.6 million in FQ1 last year, which also helped free cash flow of +$10.7 million, against -$83.2 million prior.

PTON also announced that Peter Stern, who co-founded Apple ... Log in to view full article.