American fitness company Peloton has identified a defect in its entry-level bikes’ seat posts after 12 reports of injuries sustained by users emerged, including one user left with a fractured wrist, while also announcing at the same time a wider than expected loss in the current quarter, marking a ninth straight quarter of losses.
The seat post was vulnerable to breaking at the weld joint, according to the company. One user commented on social media: “I’ve had my seat a few times just fall down”, while another person wrote that the seat would “regularly slip no matter how tight it was”. Peloton said that it has notified the U.S. Consumer Product Safety Commission about the “potential product safety issue” and is working with the regulator to finalise a corrective action plan.on Thursday following its quarterly earnings report, posting a loss of $275.9 million, which was “wider-than-expected”, with. Revenue also declined 22 per cent from a year ago, while its stocks tumbled as much as 17 per cent on Friday following these reports — the most in the last seven months.