Peloton Interactive, Inc.

Good day, and thank you for standing by. Welcome to the Peloton Interactive Second Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Peter Stabler, head of investor relations. Please go ahead.

Good morning and welcome to Peloton's fiscal second quarter conference call. Joining today's call are CEO Barry McCarthy and CFO Liz Coddington. Our comments and responses to your question reflect management's views as of today only. and will include statements related to our business that are forward-looking statements under federal securities law. Actual results may differ materially from those contained in or implied by these forward-looking statements due to risks and uncertainties associated with our business. For a discussion of the material risks and other important factors that could impact our results, please refer to our SEC filings and today's shareholder letter, both of which can be found on our investor relations website. During this call, we will discuss both GAAP and non-GAAP financial measures, a reconciliation of GAAP to non-GAAP financial measures in today's shareholder letter. I'll now turn the call over to Barry.

I want to do something a little bit out of the ordinary just to kick off today's call, if you all indulge me. A good friend of mine named Gail Tifford once Beth summarized what's special about Peloton, I think, when she described the brand as golden and the member community as platinum. And what makes that possible is the incredible work done by our content team and by the instructors who give it life. And because of that, and in particular, I want to welcome back to the platform today one of our instructors in London by the name of Leanne Hainsby, who after disclosing her recent battle with cancer and her announcement that she's cancer-free, is today once again back on the platform and the start of her class just coincidentally happens to coincide with the start of this earnings call. So welcome, Leanne, and thank you for all you do for us. And with that, we'll turn the call back to the operator and take our first question.