Peloton Launches Three New Treadmills, First Sub-$3,000 Model, as Subscribers Decline

Peloton (PTON) unveiled three new treadmills and expanded AI-powered coaching tools on September 22, 2026, including the Tread Flex at $2,195 — its first treadmill under $3,000 and its first foldable model. All three ship in the U.S. starting October 1. The Tread Vision ($3,495) adds a movement-tracking camera for post-run form analysis; the Tread+ Vision ($6,695) features a slat belt and AI insights. The company also expanded its Peloton IQ software to deliver cadence, vertical oscillation and stride-length analytics, and to replicate outdoor routes via treadmill inclines. The launch targets a prolonged membership slide. Paid connected fitness subscriptions fell 8.8% year-over-year to 2.55 million last quarter, with roughly 500,000 paid subscribers lost over three years. Peloton shares are down 97% from their early-2021 peak. UBS analyst Arpine Kocharyan noted the company holds about $1.2 billion in cash — more than double its market capitalization.