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  "documentTitle": "Peloton | Credit Presentation Deck | 35 slides",
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  "authorName": "Peloton",
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  "presentationDate": "2022-05-01 00:00:00",
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      "kind": "list",
      "text": "COST SAVINGS: Comprehensive restructuring plan; $800mm annual run-rate savings by FY24; $165mm opex and $30-35mm COGS savings in 2HFY22; $450mm opex and $100mm COGS savings in FY23.",
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      "text": "INVENTORY AS SOURCE OF CASH: Excess inventory relative to demand; believe inventory will sell eventually and obsolescence risk is negligible.",
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      "kind": "list",
      "text": "GROW OUR REVENUE: Measureable uplift from price changes; hardware price cuts increased unit sales; subscription price increase; expanding GTM capabilities (third party retailers, app revamp, international, FaaS).",
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      "kind": "list",
      "text": "CONNECTED FITNESS GROSS MARGIN IMPROVEMENT: Q3 gross margin burdened by one-time charges; shift to 3PL, improved warehouse management, and better negotiated freight rates; expect reduction in COGS of $30-$35mm in 2HFY22 and $100mm in FY23.",
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      "text": "CAPEX: Majority of Q3 capital expenditures related to Peloton Output Park; expect significantly lower capex spend in FY23.",
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      "kind": "title",
      "text": "OUR GOAL IS TO RESTORE THE BUSINESS TO POSITIVE FREE CASH FLOW IN FY2023",
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