Peloton identifies defect in seat posts after reports of injuries

FILE PHOTO: Peloton in New York City

(Reuters) – Peloton Interactive Inc on Thursday said that it had identified a defect involving seat posts in its original stationary bike, with 12 reports of injuries, including one wrist fracture, as of April 30.

Out of 2.4 million units sold in the U.S. and Canada as of April 30, there were 35 reports of the bike’s seat post breaking during use, Peloton said in a filing with the U.S. Securities and Exchange Commission (SEC).

The company said it had notified the U.S. Consumer Product Safety Commission (CPSC) about the “potential product safety issue” and is working with the regulator to finalise a corrective action plan.

The fitness equipment maker in January agreed to pay a $19 million fine for failing to promptly report a defect with its Tread+ treadmill that could cause serious injury.

Peloton on Thursday reported a wider-than-expected quarterly loss and warned it expects to sign up fewer members for the year, raising concerns about the fitness equipment maker’s growth prospects.

(Reporting by Juby Babu in Bengaluru. Editing by Gerry Doyle)