It feels like an age since pandemic-related lockdowns and social restrictions were lifted. And for Peloton Interactive (NASDAQ: PTON), that marked the end of the boom in its business.

The maker of at-home exercise equipment was one of the greatest growth stories of 2020 and 2021, as it gave consumers an outlet during a time when gyms were closed, and opportunities for physical activity were few and far between. But with conditions now mostly back to normal, Peloton has been grappling with collapsing sales and steep financial losses.

The company just reported its financial results for the fiscal 2023 full year (ended June 30). While there were apparent improvements thanks to its new CEO, who joined in 2022, the company is clearly still fighting for survival.

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Source Fool.com