I actually talked to a sales rep fairly recently.
They ramped up their production BIG TIME because demand spiked like you cannot believe during the pandemic. They were making more money than you would believe.
To supplement production, they bought Precor—as you all know, they make a TON of commonly-used treadmills, stationary bikes, etc.
Precor was doing well prior to their acquisition. Unfortunately, Peloton's short-term haste may have nuked both companies in the process.