- Peloton is recalling more than 2.1 million of its original bike products, the company announced.
- The seat posts of dozens of these bikes suddenly broke, causing injuries, per the company.
- Peloton is struggling as of late, reporting wider-than-expected losses for the most recent quarter.
Peloton, the once red-hot company behind a series of at-home bikes and exercise equipment, is issuing a voluntary recall of a product that put it on the map.
The New York-based company announced Thursday that, in cooperation with the US Consumer Product Safety Commission, it is doing a voluntary recall of the Peloton original Bike sold from January 2018 to May 2023 in the US for about $1,400. Per the company, “the seat post can break unexpectedly during use, creating a potential fall and injury risk,” with 35 reports of seat posts breaking out of more than 2.1 million units sold as of April 30, 2023.
According to the US Consumer Product and Safety Commission, as a result of these seat post suddenly breaking, there have been 13 reports of injuries, including a fractured wrist, lacerations, and bruises.
This recall does not impact Peloton Bike+ Members nor Peloton original Bike owners in the UK, Germany, and Australia, according to the company.
“Our commitment to Member safety is unwavering,” the company said in a press release. “For Peloton, it was important to proactively engage the CPSC to address this issue and to work swiftly and cooperatively to identify a remedy.”
The company is offering free, updated seat posts to all US Peloton original Bike owners, which can be installed at home, according to Peloton.
This recall comes at a turbulent time for the company. Earlier this month, Peloton reported a wider-than-expected loss of 79 cents per share for the most recent quarter, and it projected its first-ever decline in subscribers.
At the height of the pandemic, Peloton’s stock pushed $171 per share, and its market cap hovered around $50 billion. But as the popularity of at-home fitness faded, Peloton has struggled, seeing several top executives depart last year as the company laid off more than 5,000 workers in 2022.
And this isn’t the first time Peloton has had to issue a recall. In May 2021, Peloton issued a voluntary recall of its treadmills on Wednesday following mounting pressure from US regulators to do so after a child died and several others were injured after becoming trapped under the machines.
Do you work for Peloton or own Peloton’s original bike? We want to hear from you. Contact reporter Ben Tobin on email at [email protected].
